ITS ANOTHER MEETING DAY HEADED BY SIS. INK GRACE M.S. DAIKWO
KOGI STATE DIRECTOR GENERAL INKSNATION DAO FOUNDATION.
IN TONIGHT’S MEETING, I WILL BE PRESENTING TO YOU A TOPIC TITLED
THE UNCOMPARABLE COMPARISON (PINKOIN)
Pinkoin is the native currency of a nation built on blockchain known as inksnation.
Pinkoin is the first reserve cryptocurrency
Pinkoin comes with it’s own blockchain called the INKSLEDGER
Pinkoin is built with a new financial system known as the INKSLEDGER FINANCIAL SYSTEM
Pinkoin empowers both central banks and commercial banks as negates other market cryptocurrencies such as Bitcoin which serves to annihilate central banks and commercial banks
The pinkoin universal wallet address is one of its kind as it serves the following functions
PINKOIN UNIVERSAL WALLET ADDRESS
- ONLY A LIVING NODE (HUMAN BEING) CAN GET A UNIVERSAL WALLET ADDRESS CODE
- IT FASTEN CROSS BORDER TRANSACTION AMONG NATIONS OF THE WORLD AT LARGE.
- IT CAN SERVE AS A MEANS OF IDENTIFICATION, JUST LIKE
NIN in Nigeria, SSN in America etc
- IT CAN BE USED FOR PROPER RECORD KEEPING IN THE EDUCATION SECTOR, BECAUSE A LIVING NODE CAN ONLY HAVE ONE UWA CODE.
- CAN BE USE FOR RECORD OF DEATH AND BIRTH RATE IN A COUNTRY AND THE WORLD AT LARGE.
- IT CAN BE USE FOR RECORD KEEPING AT THE SECURITY AGENCIES.
WHAT IS CRYPTO CURRENCY
A crypto-currency is a medium of exchange that is digital, encrypted and decentralized.
TWO CATEGORIES OF CRYPTOCURRENCIES
- Market based CRYPTO-CURRENCIES
These are crypto currencies that depend on the market forces (i.e. Demand and Supply) to determine their prices. This is why their value fluctuates (i.e. Rise and Fall). example Bitcoin, ripples, Litecoin e.t.c
- USER BASED CRYPTOCURRENCY Due to the problems of market based, cryptocurrency, the user based cryptocurrency was created. These are crypto-currencies whose value is tied to the number of people who come together under a concensus to use the crypto as a means of exchange for goods and services. Only three of them exist for now i.e Kringle Coin, Telegram Coin and our mighty PINKION.They all have one thing in common i.e TREAT HUMANS AS AN ASSET.
PROBLEMS OF MARKET BASED CRYPTOCURRENCY
- The powers that controls the price using pump and dump.
- They cannot replace our present Monetary Policy due to Volatility (uncontrolled Increase and Decrease in price).
- Much more an ASSET than as MONEY.
- Seek to annihilate Central and Commercial banks of the world.
CHARACTERISTICS OF MARKET BASED CRYPTOCURRENCY
IRREVERSIBLE: After confirmation, a transaction cannot be reversed, there is no safety net.
WHILE CHARACTERISTICES OF PINKOIN ARE
ANONYMOUS: Neither transactions nor accounts are connected to real-world identities, everything is digitalized with access by means of the Internet. Neither transactions nor accounts are connected to real-world identities, everything is digitalized with access by means of the Internet.
SPEED: transaction takes couple of minutes in the network and are confirmed in a couple of minutes
CENTRAL BANK DIGITAL CURRENCY (CBDC)
In a report, authored by the United States Federal Reserve, the Bank of Canada, the European Central Bank (ECB), the Bank of England (BOE), the Swiss National Bank, Sweden’s Sveriges Riksbank and the Bank of Japan (BOJ), outlined properties the central banks would require from CBDCs in their countries.
CBDCs would need to be interchangeable with existing money forms and resemble cash in its ease of use in a swathe of payment types at little or no cost.
But CBDCs would not be anonymous and self-running, the report said, diverging from the virtual currencies whose distributed ledger technology they would borrow.
From the second to the last guidelines of that surrounds the nature of CBDC approved by the FEDERALs, it reveals that the GOVERNMENTs of the world wants to create a new version of money fully issued, control and favours a few number of people without solving the world’s global problems which are POVERTY, CRIME, SLAVERY and Financial Manipulation of the few against the larger population.