Internet of Coins Aims for Technological Advancement in Personal Finance
The team behind Internet of Coins does not consider it a financial venture. Even though with building a connection between different value systems for asset management they are facilitating the use of financial networks, it is the aspect of technological advancement in personal freedom that they are aiming for.
Internet of Coins is an environment for personal finance. As a decentralized platform it enables an optimally inclusive financial network, interlinking all digital forms of value. It allows you to trade digital assets and currencies peer to peer, with an easy to use interface and the opportunity to earn fees by participating as an allocator.
They are aiming to make the cryptosphere a decentralized, self-sustaining economy by implementing inter-blockchain connectivity.
The platform wants to provide the users the freedom to use any cryptocurrency or asset they like, the freedom to issue their own assets, and the freedom of not having to worry about a centralized third party holding their valuables.
Internet of Coins team calls this social tech. That is the reason why they are working with a Greenpeace hackathon winner, a Free Press Unlimited developer, a public administrator, open-source hardliners and a development worker on the team. Internet of Coins wants to keep their eyes fixed on the goal, which is in the line of ethics and not profits.
Hybridd is an interconnectivity platform with a node-to-node system, through which Internet of Coins plans to realize its vision. Hybridd forms a web, featuring the ability to connect value systems and synchronize ingoing and outgoing data flows by way of a scalable data chain; an innovation that they call the weavechain.
Internet of Coins has released hybrid assets, which interconnect value systems and blockchains across markets. The hybrid tokens are being given as a perk to invite people to start using the environment.
Moreover, the programming code to make this possible will be open source, available on a not-for-profit basis and freely accessible to all for the impartial implementation of the Internet of Coins.
Border Checks, Charity and Expats
She nervously boarded the flight. “Anything to declare?” the customs officer asked. If she showed the ten thousand dollars in her travel pouch, would the officer not make trouble? Daria needed to take the money into Mali, because the workers of the maternity ward in a remote country village needed to be paid and there is no banking infrastructure in the outback of Mali. She was a volunteer from a charity service that simply had no other way to support their workers and the mothers and babies in their care. How else could they buy much needed medicines andpractice their art, to bring the newly born safely into this world?
The officer glanced at the long line quickly with a bored expression, and waved at Daria’s queue that they should move quickly through the checkpoint. The people behind her thronged to pass through, and in the hustle Daria breathed a sigh of relief. This time the money would reach its destination unharmed. By chance. If only every transfer would go so well.
Daria’s example here is a story. But in reality this situation happens again and again around the world, with unpredictable outcome. People like Daria, who are physically taking money to Africa, take risk in order to support families and livelihoods. In expat communities around the world, the common voice is that tariffs imposed on sending money via electronic banking transactions are a growing problem, for those wishing to sustain their families while working abroad.
To send money to other countries, there are tariffs of between five to ten percent of the sum just for transferring it to another location on the globe. Much of this fee is hidden in unfavourable exchange rates. In times of internet, these amounts could be easily transferred via blockchain solutions.
In recent months India’s Prime Minister, in a pioneer move to reshape India’s financial economy, ordered all large denomination bills of currency to be exchanged for smaller coupures, causing long queues in front of bank offices. Queues of people to exchange their money. Slashdot reports that the mobile payment traffic in India has exploded since. Is India taking the lead in mobile finance? What will this mean for control over personal finance and privacy in this country?
Growing financial risk and everyday loss of control over personal finances is a looming threat to freedom and privacy in many places around the globe. Our team wants to tackle this problem head on. The team at Internet of Coins wants to enable people in all walks of life to arrange their personal finance in a safe and low risk manner. They want to make it easy to handle your portfolio, manage your finance or make a donation for a good cause when using our secure platform environment.
The Internet of Coins ties all cryptocurrency technologies together into a single cryptosphere to literally put the power of cryptofinance into everyone’s hands, wether it’s Bitcoin or any other blockchain technology. Having financial freedom, whether on computer or mobile, empowers communities and livelihoods to give them the personal control to organise their own finances.
During the inception of decentralized, blockchain driven ledgers, many developers in the early blockchain scene had a clear vision in mind. Reading through the messages in the forums back in the day it was evident collaborative developments were driven by a personal vision for freedom and change in finance. Not by greed, coercion, or lust for power. Rather, for most crypto enthousiasts, it was as if all shared an unwritten conviction, or invisible manifesto. It held a common dream to unite for a better financial world. A future in which not just money, but benevolence, brotherhood and kindness would play the headlines.
However, as the characteristics of money and what it ethically entangles entered the play, it did not take long for those early passionate minds full of ideals to succumb to the promises, expectancies and enticements of wealth. Venture capitalist money started flowing, with projects being funded based on their face-value merits. The young cryptocurrency markets started making wild swings in which the intelligence of but a few could fleece the masses of their small stashes of blockchain-stored value.
Throughout these changes the kindred spirits were not entirely erased from the scene, but their once vibrant voices were now largely being drowned out by corporate and political sweeps for competitive power. They hammered down solid pillars in this pristine land of ideology, upon which sharp, perceptive vultures can perch to lay claim to their next spoil.
The prospect of a blade-runner style world becomes more realistic, as now also governmental organizations are closing in on the blockchain phenomena, aiming for a tight grip of regulation and control. Beyond the view of the technical developer enthousiasts, they forge the iron gears of our destination with systematic diligence.
Perhaps taking some time for reflection would be prudent. Where do we want the blockchain industry to go from here? How are we going to help out through positive action? What ideals have we given up in this theatrical game with all its loud players? Which ashes have we gained for trees, and how may we identify the ramifications of our developmental actions for the future of not only our personal finance, but also the future of other people? The growing Internet of Value scene is a place to tread boldly, yet also carefully, because what we do doesn't only concern ourselves. If we don't develop and do business with open eyes and open hearts, the world of money and value will see yet another uninspiring era full of Groundhog Days.
So where are our manifesto's and convictions now? It is my hope we may find the strength and dedication in this to work together for freedom and positive change. Collaborating with eachother instead of merely competing. Guarding ourselves against corruption. To break barriers in finance to the advantage of all, and not just a few, making our daily lives and actions more benevolent and our Internet a better place to be.