Wednesday, November 30

Maricoin arrives: the first LGTB cryptocurrency opens this New Year’s Eve

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The LGBT+ community already has its own cryptocurrency. This is the intention of the team that has prepared the launch of maricoin, the first digital currency born from and for this group. At the head of the project is the hairdresser Juan Belmonte, who has already joined about thirty businessmen.

One of the goals of maricoin is make the LGBT+ community visible in the increasingly globalized universe of cryptocurrencies. “Sarasa, tomboy, queer, tortillera, travelo, I have been called many things in this world, right now we are going to put all that in value. And how are we going to do it? Having our own currency because it will unify us and give us power in this globalized capitalist world“, explained the hairdresser based in Madrid and better known by the name of his establishments, Juan por Dios.

The first acid test for maricoin will arrive this very new year’s eve, since it is expected to be accepted in establishments friendly to the gay community and sexual diversity in places such as Chueca (Madrid), Maspalomas (Gran Canaria), Ibiza and Barcelona. In total, up to 25 businesses will join the initiative on the night of December 31 this year.


For this, it has been enabled a application form of maricoins before its formal launch on trading platforms, to which an issue premium will be applied. The new cryptocurrency has been developed through Algorand technology, created by Silvio Micali, where it is part of the Algorand Miami Accelerator acceleration program along with nine other projects.

Beyond this kind of pilot test, in January 2022 it will be a single issue of 250 million dollars in maricoins. However, the volume will be high, since it has been established that 50 maricoins add up to the equivalent of one euro.

In the style of bitcoin, no more units of this gay cryptocurrency will be issued again until the volume of demand has been tested. So based on this, future broadcasts will be sequenced with the aim of not giving rise to a loss of value due to oversupply, which in the traditional economy would be inflation.

Maricoin was born from the startup accelerator Startify. In fact, its CEO, Francisco Alvarez Cano, also holds this position in the maricoin project. The goal is to extend its use far beyond Chueca, the Madrid neighborhood where its birth has been orchestrated, and reach the entire LGTB+ collective on a global scale. And it is estimated that 7.5% of the world population identifies in one way or another with these acronyms.

In this sense, from the environment of the creators of this cryptocurrency, the next Gay pride as definitive thermometer of your acceptance. In this sense, one of the objectives of maricoin is to help raise funds for the celebration of this day in up to 20 cities around the world over the next year.



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