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A13
Saturday 12 May 2018

ArubaCoin: A Social Experiment, Just Like Bitcoin

ORANJESTAD – New initia- Anybody and everybody will be seamless and you nobody knows who the costly and timely, while lo-
tives give energy, but you can contribute.” “It’s also won’t know you are us- creators of the genesis cal bank transfers takes 2
need to understand them programmable money so ing cryptocurrency in the block are, which eventu- days.”
to be willing to participate. there are allot of use-cases, backend of an applica- ally doesn’t matter. It’s a
Aruba Today had the plea- ArubaCoin could have nu- tion. Many are skeptical of grassroots project, it’s been How many and which
sure to interview the people merous purposes: Bitcoin or ArubaCoin which released for the public. companies work with Aru-
of ArubaCoin, out of curios- is very normal if you don’t The community has grown baCoin so far?
ity about the new crypto- 1) means of cheap and fully understand the funda- substantially, from bitcoin “Currently in Aruba there
currency. instant exchange without mentals. Cryptocurrency advocates to Aruban are 16 businesses accept-
What is ArubaCoin and how any 3rd party involved was created out of neces- cryptocurrency commu- ing ArubaCoin:
does it work? sity to solve a problem.” nity members. The same Linda’s Dutch Pancakes
2) e-commerce and online as Satoshi Nakamoto left Aruba E-Bike Tours
“ArubaCoin is a decen- platforms instant payments “ArubaCoin did 2 rounds of bitcoin to the community Casalina Garden Apart-
tralized social cryptocur- without the risk of charge- free Airdrops to the Aruban members, this happened ments
rency, there is no central backs Community where hun- to ArubaCoin also. The pur- New Image Spa Aruba @
authority. It’s an ERC-20 on dreds of participants re- pose is to solve a problem Barcelo Hotel
the ethereum block chain. 3) a censorship resistant ceived free 200 ArubaCoin and have an alternative. A Alfie’s Burger joint & Bar
The benefit of that is, Aru- scarce digital asset (at today’s market price social experiment just like Mi Desayuno Restaurant
baCoin can be sent and $2.30 = $460) bitcoin.” Cunucu 297
received on any ethereum 4) financial sovereignty and 50 ArubaCoin airdrops Tennis School Aruba Palm
wallet. Transaction fees are current total value of $115. What is your goal with Aru- Beach
paid in ether and it is sup- 5) automated settlement This is how we wanted to bacoin? ArubaCanoe water activi-
ported by popular hard- layer reach broad distribution for “The goal of the ArubaCoin ties & paddle school
ware wallets Legder and the local Aruban commu- community in general is Motivami
Trezor. You control your Its a new technology that nity. And in this way create to have a wide adoption Dog Hotel Aruba
wealth by controlling the many still don’t understand a low barrier of entry for the and active community and Gomes Air-conditioning &
private key, which you can nor need to. Many don’t rest of the community.” slowly but surely grow the services
backup numerous ways understand what TCP/IP is Who started ArubaCoin eco-system. Sustainability InvenTech Aruba
and multiple times. It’s an but you use it every day, it’s and with what purpose? is priority. An easy and in- Best Buy Family Store
open source and fully au- called the internet. Eventu- “ArubaCoin has the same stant means of exchange.
ditable on the block chain. ally the user-experiences mystique that Bitcoin has, Physically bringing cash is Continued on Page 14