lunedì 16 ottobre 2017

World premiere in Rome of EquaCoin, the virtual coin presented in defense of democracy

World premiere in Rome of EquaCoin, the virtual coin presented in defense of democracy

   A ten gram silver EquaCoin will be 
   coined for the guests at the party

There will be an official presentation by EquaCoin in Rome, Marco Saba's and Giovanni Ciallella's cryptocurrency, which promises to "change the world a coin at a time". At Palazzo Ferraioli, on October 24, the economist Marco Saba, an expert in banking systems and monetary instruments, will illustrate the fair, transparent and participatory money project that will introduce more democracy in the money market decision-making mechanisms.

Rome, October 16, 2017. The third generation of electronic money, which will enable everyone to participate and choose the initiatives to be funded in a more democratic and transparent market. EquaCoin is the innovative monetary instrument created by Marco Saba and Giovanni Ciallella, which will be officially launched in Rome on October 24th, in the prestigious Palazzo Ferraioli.

A non-centralized and non-anonymous currency, such as that created by current banking systems, will leave a registered cadastral record and will be implemented through a process of direct democratic vote by users, with the "one head, one vote" system. The denomination, derived from "Equality" and "Coin", aims to emphasize the purpose of the new exchange instrument: to allow anyone to have a single coin to vote on a project, to fund and actively participate in the decision-making dynamics of the market.

EquaCoin will also be KYC (know your client) and AML (anti money laundering) compliant, anticipating the requirements that will be put in place by 2018/2019 by various European, American, and Asian governments. A Biometric Recognition System will enable everyone to have greater security for their electronic portfolio and in the event of a loss or theft of their phone, the system will be able to restore the account to a new device exactly as it was in the last position before the event happened.

"EquaCoin's technological management is transparent, economical, open source and easily verifiable by anyone," said Marco Saba in his earlier speech to explain how their virtual currency works. The idea behind EquaCoin is that the nature of the money that a community uses is reflected on the behavior of the society itself and that, if a society is corrupt, it will promote a corrupt monetary system in a reflexive fashion. The crucial issue in these years of financial crises and bank scandals, the need for an "honest" coin that could be traced, accessible to everyone and freely adaptable, has pushed Saba and Ciallella to design their virtual currency.

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