ITCoin - Russian cryptocurrency secured by the meat
The cryptocurrency boom continues! In the Republic of Tatarstan created the world's first cryptocurrency secured by the flesh of bulls. It was called "ITCoin".
The creator of cryptocurrency has said that the cost Idoine tied to the cost of meat — this removes the main drawback of cryptocurrencies — rate surges.
"Low volatility will allow you to apply Itcon in the calculations — a kind of commodity-barter relationship in which all the stakeholders are protected," said Ryndin.
According to him, the entire chain of business based on blockchain technology. The innovative technology will not only ensure the reliability of the cryptocurrencies, but also to be confident in the quality of meat: chipping steers allows you to monitor their health status online. Using QR code in the store you can learn the history of the meat. Transparency, in turn, will increase the reliability of investment in agriculture, says the creator ITCoin.
the idea to secure cryptos with undelying commodity is not new. There are several problems with actual ITCoin: what exchange will trade Russian meat from Tatarstan: Will the meat price be only based on bull meat? How and when that would become a standard for world bull meat price?
the low volatility will not attract speculators, quite opposite. Persoanlly, I don0t see any bright future for that crypto in near term
I agree with you. Simply crypto currency boom continues
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