Place/Date: - November 3rd, 2021 at 6:01 pm UTC · 3 min read
Over the course of years, the crypto community has come to a conclusion that “utility drives value”. Most projects with impractical applications or low impact use cases are wiped out or they never get enough attention from the community. Intercoin is planning to be one of the few projects to rise above pump and dumps in DeFi and to give actual value to the customers through their users to make their own currencies and form communities.
Any currency issued on Intercoin would be formed into a smaller network that would operate fully on its own. These currencies can then be used to make payments between one another using easy mobile and web application integrations. The main goal is to form local economies as opposed to global scarce commodities as people start to hoard them instead of using them as payments and other purposes based on which the currencies were made.
The potential of innovation in the field of local economies and governance is huge. Much like in the case of PayPal, people would be able to buy “balances” of the local currency and use them for payments. The mechanism of cashing in and out of these currencies is once again fairly easy like every other cryptocurrency. This effort of innovation would not only help create a solid use case but will also help trigger mass adoption in the long run. Businesses would be able to integrate Intercoin to bridge the gap to cryptos and payments. The facebook marketplace is one of the prime examples where such local currencies can be used. Utilizing the power of Intercoin, small communities like schools, churches, and others can be encouraged to form economies of their own where they can keep track of everything.
Another edge of using Intercoin’s economies is the extremely scalable model. The project is being designed to eventually handle millions of concurrent transactions with a very low cost. Apart from this, the project will be able to handle any amount of currencies made on it due to the flexibility and scalability.
As the project is growing there are a lot of goals added to the roadmap. The team aims to get the native token of Intercoin to be listed on major exchanges worldwide apart from which the marketing strategies are in place for mass adoption once the application is launched in November.