MonetaryCoin Tokens To Be Tied To GDP Of Different Countries
The MonetaryCoin project significantly stands out of all ICOs announced lately. Its main difference is that its tokens will be dependant on the GDP rate of different countries.
Everyone can get MonetaryCoin tokens. A part of them will be sold during the presale stage. The rest will be available for mining (forging). The total amount of the issued tokens will correspond to 1% of the money supply of a particular country. The tokens tied to different countries will not influence each other. Each group will use its own smart contracts and oracles.
The MonetaryCoin system provides several types of tokens developed in accordance with the ERC20 standard. Meanwhile, M5 tokens will be given to miners once the GDP rate moves down. Afterwards, miners will be able to exchange them for regular MonetaryCoin tokens.
Governments of many countries are positive about distributed ledger technology. The examples are The Hong Kong Monetary Authority (HKMA), the Financial Services Regulatory Authority (FSRA) of Abu Dhabi and The Digital Currency Research Lab at the People's Bank of China (PBoC).