Intercoin is more than just a cryptocurrency. It creates a platform that allows local communities to issue and manage their own digital currencies. This democratic governance of the local currency empowers communities and can make initiatives like Universal Basic Income a reality.
The video below “How to build your own social media platform and create your own digital currency?” explains in-depth how Intercoin’s applications can be put into practice.
"How to build your own social media platform and create your own digital currency?"
The idea behind Intercoin started during the development of Qbix, a social media platform owned by its users. Qbix’s apps have reached over 8 million users worldwide and are currently being used by nonprofits, community organizations, and local businesses worldwide. Intercoin will be launching on top of the Qbix platform, as a payment layer on our apps. Thus, in order to understand Intercoin’s functionality, the video introduces Qbix and the role it has played in communities.
After a quick overview of Qbix, Intercoin’s CEO, Greg Magarshak, explains Intercoin’s vision. He introduces the steps that communities need to take to issue their own currency and UBI following a democratic process. Additionally, he talks about community currencies by answering questions like “What are community currencies” and “Why would communities want to issue them?”.
The video also explains the 3 layers of Intercoin, how Intercoin adds value to communities, and what differentiates Intercoin from Bitcoin or Ethereum by explaining a key nuance in the Intercoin architecture: the difference between Intercoin itself, and the community currencies it will issue.
Ultimately, Intercoin aims to empower communities and we are excited to share our vision, knowledge, and future projects. If you want to learn more about crypto, blockchain, smart contracts and more be sure to subscribe to our YouTube Channel so you don’t miss any of our newest videos.
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