The journey of a thousand miles starts with one step, and the beautiful part of this is that all the steps are taken one after another.
The journey towards creating a world of a seamless, decentralized transaction has just begun and there are thousands of cryptocurrencies claiming to have solved this problem whereas in reality all they have done is create another asset not currency
A cryptocurrency should have the power to function on its own. this is the part people seem to misunderstand about the pinkoin project.
inksnation is not on the journey of creating another crypto asset but it is on a journey of creating a cryptocurrency.
imagine for a moment that for some reason there is no means by which you could exchange your bitcoin or dogecoin into a fiat currency that can be used to buy the physical things you need. What use is your Bitcoin or Dogecoin?
Of course, the answer is clear, it becomes useless. What makes a Naira currency a currency is that it can start a transaction and end the transaction. What do I mean by that?
It means that the Naira Currency does not need an intermediary to function as a currency. Meaning that the seller does not have to take the naira to another place before he or she can make use of the money received from a customer right.
But right now the contrast is what we see in the crypto space, coins going up and down in a super volatile manner. Well for a trader, that is beneficial, also for an investor that is a great thing because in investing, patience is the real currency.
But the question remains, is that the kind of coin or currency a merchandise person wants to transact with? You agree with me that it is a big NO
I don’t want to receive 10,000 dollars in my wallet only to check it 5 minutes later to find 8,500 dollars. Why? Because the market has moved towards the downward side and that leaves me at loss, so now I have to wait for the market to regain the loss and then start looking for how to convert my coin to a fiat currency
Pinkoin is a cryptocurrency and the system inksnation is building is the kind that will enable the coin to function successfully as the currency that it is meant to be.