Maricoin cryptocurrency is a new crypto whose name has been borrowed from a homophobic slur in Spanish. This crypto was launched on 31st December 2021. It is the first LDBTQ+ crypto that was released with an aim to change the globe. The crypto was associated in a week long pilot test in 10 businesses in Chueca, which is called the LGBT+ neighborhood of Madrid in Spain. Let us have a look at some of the Maricoin news.
Introduction Of Maricoin Cryptocurrency
As per recent reports, the makers of this crypto are aiming to start trading the coin by early this year. This coin will be utilized as a payment method ar LGBT friendly businesses and events globally. According to co-founder Juan Belmonte,
“Since we move this economy, why shouldn’t our community profit from it, instead of banks, insurance companies, or big corporations that often don’t help LGBT+ people?”
The Maricoin cryptocurrency has been pegged by Miami based venture capital firm known as Borderless Capital. The CEO of the entity had stated that even before trading, over 8000 people have joined the waiting list to purchase the currency. They aim to make this LGBTQ+ currency to be recognized as payment in all cafes, restaurants, shops, and hotels. The founders assert that they have also signed an “equality manifesto”, which protects the rights of the queer people.
The LGBTQ+ token scheme was released way back with the focus to deploy the technology behind crucial digital currencies like Bitcoin to create a digital system that will make the economic power more evidently strong. It is important to safeguard the monetary and economic rights of the LGBT+ community so that its personnel can own their businesses securely, invest in cryptos and raise a prominent amount of profit in the present global economic state. Alvarez said,
“The establishments that accept our coin will be listed on our map, which will work as an LGBTI guide for anyone visiting any city in the world. If they violate any of the points of our anti-discrimination manifesto, for example, if they fire a pregnant woman because of her pregnancy, they will be expelled from maricoin.”
Alvarez also stated that the Maricoin cryptocurrency will also have its own lingo. The money transfer among the users will be termed as “trans”. He further added that,
“We’ll be able to give microcredits for people to set up a small LGBTI-friendly cafe in Colombia, or to support projects helping queer refugees flee countries where they’d be stoned to death. We’re looking forward to changing the world.”
A Crypto To Fight Homophobia
This digital currency project was inaugurated in October 2021 and has since been promoted and commercialized by its creators. ‘Maricoin’ was created to be non-profit, in union with associations of the collective in the fight against homophobia.
The Maricoin was offered on December 24th in Chueca, the populous LGBTQ+ neighborhood of Madrid where the concept was first conceived. According to Belmonte, a marketer of aesthetic products.
“It would give us power in this globalized and capitalist world. We will be able to help people who at this moment do not have the same rights as we do.”
According to the developers and promoters
“It will be a social, ethical, transparent, and transversal means of payment with which you can operate in the main exchanges (cryptocurrency exchange platforms) and consume in your favorite establishments with discounts.”
Among the promoters of the cryptocurrency community are a businessman and academic Francisco Álvarez Cano. As per the Forbes magazine, Álvarez Cano handled to have the digital currency accepted in the Algorand Miami Accelerator program, which aids startup projects.
Juan Belmonte said to a news agency that the concept of coming up with the Maricoin cryptocurrency came to him when he was partying with his friends at a pride event in Madrid. His decision to present a cryptocurrency for queer people was also influenced by the ill-treatment he got from the people of the LGBTQ sector. Many such events made him realize he “had to do something” to help this LGBT+ community.