Karmacoin: A Bitcoin-based Digital Currency for Righteous People

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Karmacoin: A Digital Currency for Righteous People

ForexMinute.com – With the number of cryptocurrencies just single-figures away to cross the 200-mark, any new digital currency will work solely on its market innovation. The never-heard-before saying is proved authentic by Auroracoin, a Litecoin-based digital coin which emerged using the tagline of the first nation-based cryptocurrency. The currency once even touched the third highest market cap, leaving behind Litecoin itself; but based on what but an innovative marketing approach.

There is now a new cryptocurrency that has found its foot in the real “virtual” world. Named as Karmacoin, this new digital coin has the Bitcoin’s DNA like any other decentralized currency, but distinguishes itself from the rest by creating an avatar of a currency for righteous people.

The approach here is simple, involving people to make the world a better place and rewarding them for their valuable contribution with a Karmacoin; quite like a merit badge of some Scouting organization. Only in this case, the badge can be traded in exchange of money. It’s like bribing for good, if one tries to sum up simply with no offence to the creators.

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The very first examples of the Karmacoin’s style has also started to appear already. In its recent post at Business Wire, Karmacoin acknowledged its contribution in raising around $200 to compensate the losses of a girl scout who were given fake $50 bills in exchange of the cookies they were selling. Although the amount is very little in comparison to what Dogecoin raises almost every week, but is quite good enough to make Karmacoin’s presence feel.

“It’s perhaps a bit ironic that a digital currency would come to the rescue of the victims of a fake currency scam. This was probably why we were so compelled to help out. We wouldn’t want this incident to diminish the Girl Scouts’ mission of building courage, confidence, and character,” said Tony Sorel, Director of Karmacoin. “Our own motto is based on good deeds towards others, so both organizations share a common purpose.”

The director also specified that the use of Karmacoin is suitable for small transactions and donations, as the sending comes free. Although he never mentioned anything about the coin’s use in larger transactions.

We have also catered few other details on Karmacoin, as per mentioned in its recent press release. Like it ensures secure and anonymous transfers like any other digital currency; it funds transacted in seconds and automatically verified in minutes; credit card-like chargebacks are not possible, protecting merchants and charities; and others.
It is though too soon to predict the possible prospects of Karmacoin, but we can’t deny it is indeed unique in its own way. It gives you reason to be good, seriously.

To contact the reporter of the story: Yashu Gola at yashu@forexminute.com

  • Anonymous

    *EYEROLL* pump & dump.