Page 17 - ATA

A14 LOCAL
Wednesday 28 February 2018
ArubaCoin: A Social Experiment, Just Like Bitcoin

ORANJESTAD – New initia- of exchange. Physically energy costs?
tives give energy, but you bringing cash is costly and “High energy cost will de-
need to understand them timely, while local bank pend on which algorithm/
to be willing to participate. transfers takes 2 days.” mining hardware your talk-
Aruba Today had the plea- ing about (asic). The high
sure to interview the people How many and which energy cost is based on the
of ArubaCoin, out of curios- companies work with Aru- countries where nobody
ity about the new crypto- baCoin so far? mines because it would
currency. “Currently in Aruba there be unprofitable. The POW
are 16 businesses accept- (proof of work) algorithm
What is ArubaCoin and how ing ArubaCoin: which bitcoin is working
does it work? on miners are using green
“ArubaCoin is a decentral- Linda’s Dutch Pancakes cheap energy where there
ized social cryptocurrency, Aruba E-Bike Tours is excess electricity, like Ice-
there is no central authority. Casalina Garden Apart- land and China. ArubaCo-
It’s an ERC-20 on the ethe- ments in is built on ethereum and
reumblock chain.The ben- New Image Spa Aruba @ does not use the sha-256
efit of that is, ArubaCoin Barcelo Hotel algorithm that bitcoin uses.
can be sent and received Alfie’s Burger joint & Bar And soon the proto-
on any ethereum wallet. MiDesayuno Restaurant col should be switch-
Transaction fees are paid in Cunucu 297 ing to PoS which is
ether and it is supported by Tennis School Aruba Palm more energy efficient.”
popular hardware wallets Beach
Legder and Trezor.You con- ArubaCanoe water activi- Why would people choose
trol your wealth by control- ties & paddle school for digital currency? How
ling the private key, which Motivami would tourists benefit from
you can backup numerous Dog Hotel Aruba this?
ways and multiple times. Gomes Air-conditioning & “Most adoption it’s fu-
It’san open source and services eled by necessity, if it
fully auditable on the block InvenTech Aruba solves a problem there
chain. Anybody and ev- Best Buy Family Store will be users and growth.
erybody can contribute.” And we see many oppor-
Its listed on 2 exchang- tunities and use-cases that
“It’s also programmable es: EtherDelta exchange can be used with it, that
money so there are allot and ForkDelta exchange. otherwise could not be ac-
of use-cases, ArubaCoin And listed on CoinMar- complished.
could have numerous pur- ketWatch.com for market We are focused on the lo-
poses: cap and price ticker, mar- cal community and eco-
ket indicators. GetDelta system, tourist are not the
1) means of cheap and app also for price ticker.” priority. Of course you have
instant exchange without Aruban community mem-
any 3rd party involved Where can people find in- bers that live abroad, those
formation? are already participating in
2) e-commerce and online “You can find more infor- ArubaCoin, they also have
platforms instant payments mation at www.aruba- a unique use-case be-
without the risk of charge- tals.Cryptocurrency was ally doesn’t matter. It’s a coin.org and follow our cause they could send $10
backs created out of neces- grassroots project, it’s been Facebook community from Europe instantly and
sity to solve a problem.” released for the public. The page or telegram group.” the received can pay their
3) a censorship resistant community has grown sub- bill instantly, within minutes.
scarce digital asset “ArubaCoin did 2 rounds stantially, from bitcoin ad- Do you have cooperation
of free Airdrops to the Aru- vocates to Aruban crypto- with other digital currency? ArubaCoin is very new,
4) financial sovereignty ban Community where currency community mem- “The community mem- we do not recommend
hundreds of participants bers. bers and developers are anybody to take this as
5) automated settlement received free 200 Aru- The same as Satoshi Na- community members of an investment advice.
layer baCoin (at today’s mar- kamoto left bitcoin to the bitcoin and other coins Bitcoin, ArubaCoin or any
ket price $2.30 = $460) community members, this like zcoin and ethereum, cryptocurrency can be
Its a new technology that and 50 ArubaCoin airdrops happened to ArubaCoin so yes we have collabo- HIGHLY volatile, we do not
many still don’t understand current total value of $115. also. The purpose is to solve rations with broad spec- recommend anybody buy-
nor need to. Many don’t This is how we wanted to a problem and have an trum of prominent devel- ing cryptocurrency without
understand what TCP/IP is reach broad distribution for alternative. A social ex- opers and community doing due diligence how
but you use it every day, the local Aruban commu- periment just like bitcoin.” members in the space.” to use it.
it’s called the internet. nity.And in this way create If you lose your private key
Eventually the user-expe- a low barrier of entry for the What is your goal with Aru- What can you say about or password or don’t prop-
riences will be seamless rest of the community.” bacoin? the comments that digital erly back it up, nobody can
and you won’t know you “The goal of the ArubaCo- currency comes with high retrieve those coins.”q
are using cryptocurrency Who started ArubaCoin in community in general is
in the backend of an ap- and with what purpose? to have a wide adoption
plication.Many are skep- “ArubaCoin has the same and active community and
tical of Bitcoin or Aruba- mystique that Bitcoin has, slowly but surely grow the
Coin which is very normal nobody knows who the eco-system. Sustainability is
if you don’t fully under- creators of the genesis priority.
stand the fundamen- block are, which eventu- An easy and instant means linda.reijnders@cspnv.com