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                                                                                                                           Tuesday 31 July 2018












            ArubaCoin: A Social Experiment, Just Like Bitcoin


            ORANJESTAD  –  New  initia-
            tives  give  energy,  but  you
            need  to  understand  them
            to be willing to participate.
            Aruba Today had the plea-
            sure to interview the people
            of ArubaCoin, out of curios-
            ity  about  the  new  crypto-
            currency.

            What is ArubaCoin and how
            does it work?

            “ArubaCoin is a decentral-
            ized social cryptocurrency,
            there is no central authority.
            It’s an ERC-20 on the ethe-  will  be  seamless  and  you  an alternative.  A social ex-  and  ForkDelta  exchange.  in is built on ethereum and
            reum block chain. The ben-   won’t  know  you  are  us-   periment just like bitcoin.”  And  listed  on  CoinMarket-  does  not  use  the  sha-256
            efit  of  that  is,  ArubaCoin  ing  cryptocurrency  in  the                           Watch.com for market cap  algorithm that bitcoin uses.
            can be sent and received  backend  of  an  applica-       What is your goal with Aru-  and  price  ticker,  market  And  soon  the  protocol
            on  any  ethereum  wallet.  tion. Many are skeptical of  bacoin?                       indicators.  GetDelta  app  should be switching to PoS
            Transaction  fees  are  paid  Bitcoin or ArubaCoin which                               also for price ticker.”      which  is  more  energy  effi-
            in  ether  and  it  is  support-  is very normal          “The goal of the ArubaCo-                                 cient.”
            ed  by  popular  hardware  if  you  don’t  fully  under-  in  community  in  general  is  Where can people find in-
            wallets  Legder  and  Trezor.  stand  the  fundamentals.  to  have  a  wide  adoption  formation?                   Why would people choose
            You control your wealth by  Cryptocurrency was creat-     and active community and                                  for  digital  currency?  How
            controlling the private key,  ed out of necessity to solve  slowly  but  surely  grow  the  “You  can  find  more  infor-  would  tourists  benefit  from
            which you can backup nu-     a problem.”                  eco-system.  Sustainability  mation at www.arubacoin.     this?
            merous  ways  and  multiple                               is  priority.  An  easy  and  in-  org  and  follow  our  Face-  “Most  adoption  it’s  fueled
            times.  It’s  an  open  source  “ArubaCoin did 2 rounds of  stant  means  of  exchange.  book  community  page  or  by  necessity,  if  it  solves  a
            and  fully  auditable  on  the  free Airdrops to the Aruban  Physically  bringing  cash  is  telegram group.”       problem there will be users
            block chain. Anybody and  Community  where  hun-          costly and timely, while lo-                              and growth.
            everybody  can  contrib-     dreds  of  participants  re-  cal  bank  transfers  takes  2  Do  you  have  cooperation  And  we  see  many  oppor-
            ute.”                        ceived free 200 ArubaCoin  days.”                         with other digital currency?  tunities and use-cases that
                                         (at  today’s  market  price                                                            can  be  used  with  it,  that
            “It’s  also  programmable  $2.30 = $460)                  How  many  and  which  “The  community  members  otherwise  could  not  be
            money  so  there  are  allot  and 50 ArubaCoin airdrops  companies  work  with  Aru-   and  developers  are  com-   accomplished.  We  are  fo-
            of  use-cases,  ArubaCoin  current total value of $115.  baCoin so far?                munity members of bitcoin  cused  on  the  local  com-
            could have numerous pur-     This  is  how  we  wanted  to                             and  other  coins  like  zcoin  munity  and  eco-system,
            poses:                       reach broad distribution for  “Currently  in  Aruba  there  and  ethereum,  so  yes  we  tourist  are  not  the  priority.
                                         the  local  Aruban  commu-   are  16  businesses  accept-  have  collaborations  with  Of course you have Aruban
            1)  means  of  cheap  and  nity. And in this way create  ing ArubaCoin:                broad  spectrum  of  promi-  community  members  that
            instant  exchange  without  a low barrier of entry for the                             nent developers and com-     live  abroad,  those  are  al-
            any 3rd party involved       rest of the community.”      Linda’s Dutch Pancakes       munity  members  in  the  ready  participating  in  Aru-
                                                                      Aruba E-Bike Tours           space.”                      baCoin,  they  also  have  a
            2) e-commerce and online  Who  started  ArubaCoin  Casalina  Garden  Apart-                                         unique  use-case  because
            platforms instant payments  and with what purpose?        ments                        What  can  you  say  about  they  could  send  $10  from
            without  the  risk  of  charge-  “ArubaCoin  has  the  same  New  Image  Spa  Aruba  @  the  comments  that  digital  Europe  instantly  and  the
            backs                        mystique  that  Bitcoin  has,  Barcelo Hotel              currency  comes  with  high  received can pay their bill
                                         nobody  knows  who  the  Alfie’s Burger joint & Bar       energy costs?                instantly, within minutes.
            3)  a  censorship  resistant  creators  of  the  genesis  Mi Desayuno Restaurant                                    ArubaCoin is very new, we
            scarce digital asset         block  are,  which  eventu-  Cunucu 297                   “High  energy  cost  will  de-  do  not  recommend  any-
                                         ally  doesn’t  matter.  It’s  a  Tennis  School  Aruba  Palm  pend  on  which  algorithm/  body to take this as an in-
            4) financial sovereignty     grassroots project, it’s been  Beach                      mining hardware your talk-   vestment advice.
                                         released for the public. The  ArubaCanoe  water  activi-  ing  about  (asic).  The  high  Bitcoin,  ArubaCoin  or  any
            5)  automated  settlement  community has grown sub-       ties & paddle school         energy cost is based on the  cryptocurrency  can  be
            layer                        stantially,  from  bitcoin  ad-  Motivami                 countries  where  nobody  HIGHLY volatile, we do not
                                         vocates to Aruban crypto-    Dog Hotel Aruba              mines  because  it  would  recommend anybody buy-
            Its  a  new  technology  that  currency community mem-    Gomes  Air-conditioning  &  be  unprofitable.  The  POW  ing cryptocurrency without
            many still don’t understand  bers.  The  same  as  Satoshi  services                   (proof  of  work)  algorithm  doing  due  diligence  how
            nor  need  to.  Many  don’t  Nakamoto  left  bitcoin  to  InvenTech Aruba              which  bitcoin  is  working  to  use  it.  If  you  lose  your
            understand  what  TCP/IP  is  the  community  members,  Best Buy Family Store          on  miners  are  using  green  private key or password or
            but you use it every day, it’s  this  happened  to  Aruba-                             cheap energy where there  don’t  properly  back  it  up,
            called the internet. Eventu-  Coin also. The purpose is to  Its  listed  on  2  exchang-  is excess electricity, like Ice-  nobody can retrieve those
            ally  the  user-experiences  solve a problem and have  es:  EtherDelta  exchange  land and China. ArubaCo-          coins.”q
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