The LGBT Revolution 2.0 has begun, and it has it's own currency
The visionary and LGBT activist, Mr. Lawin, launched GAYcoin in 2014; a "cryptocurrency" similar to Bitcoin to act as a borderless digital economic medium for the LGBT worldwide community. Horrified by the news of human rights abuses and war crimes against the LGBT population in Chechnya, Mr. Lawin looked to a non-traditional way of promoting LGBT activism in a real and tangible way. The underlying mission of this project is to administer a pre-established and self-sustaining philanthropic fund committed to providing endowments for LGBT rights groups and individuals as well as HIV/AIDS awareness, research and support.
Although faced with characteristic prejudicial attitudes, Mr. Lawin persevered with the project, building a stable project that maintains a total value in the top 25 cryptocurrencies worldwide, and is currently traded against other major cryptocurrencies online. Earlier this year, Mr. Lawin expanded the project to bring in established cryptocurrency developers on board and has re branded the project as PROUD money.
Going forward, PROUD money is constructing a modern "digital currency service industry" which will feature a network of LGBT business-people, shopkeepers, artisans, and consumers. Over the remainder of this year, we will be bringing forth several upgrades and enhancements to the PROUD money ecosystem including: smart phone PROUD money wallet apps, a PROUD money-branded fiat-gateway to produce an ease of access to the currency, a cryptocurrency exchange serving as a platform for other digital currencies which possess a humanitarian mission statement, a PROUD money bazaar and marketplace directory.
We are setting up the groundwork for retail integrations, with consumer incentivization programs and re-loadable PROUD money Debit cards. The goal is to provide a secure and reliable currency that will be represented across the broad spectrum of the LGBT community and market. Already, we have enthusiastic interest to integrate PROUD money into their establishments from nearly a score of businesses artisans and online services. We will use the economic drive produced by retail utility to provide appreciable value to the PROUD Foundation philanthropic projects, as well as direct investments into contemporary LGBT businesses.
The charitable arm of the project will be administered through the corporate entity, which will operate as a self-funded development team building and maintaining the global PROUD money marketplace, and managing a self-sustainable global philanthropic and LGBT rights network. and using PROUD money to invest in LGBT businesses. Beginning July 2018, the PROUD Foundation will commence distribution of cryptocurrency to LGBT associations. Applications will be available from May 2018, with fully public funding on Google Documents, stored on the blockchain, and conducted with absolute transparency.
Cryptocurrency, in its many forms, will form the backbone of the future economy, and PROUD money wishes to position itself as the financial engine for the "proud economy". We want to ensure that our project maintains the highest standard of how a cryptocurrency project can be a real world value item, a profitable enterprise with self-sustaining wealth and wage generation, and promote equality, diversity, humanity and love across the world by lifting up and assisting from the grassroots.
Cryptocurrency as a whole is an game-changing technological advancement in economics, and projects such as Bitcoin and Ethereum are regularly making the news with huge valuation increases, and articles touting the advantages of the nascent digital economy. Cryptocurrency makes use of public key encryption techniques, peer-to-peer networking and a ledger called the "blockchain" to store an incorruptible record of every transaction. Anyone with an internet connection can participate, and sending funds from one user to another, on the other side of the world, is completed within a single minute.
The advantages of an LGBT centered cryptocurrency project are many, giving a self-identified market a financial instrument of their own that makes use of secured public key cryptography, peer- to-peer networking, and a "proof-of-stake" minting system which provides a 20% annual interest rate on active balances. PROUD Money cannot be counterfeited, provides lightning-fast transaction times, and ZERO FEE transactions, producing exceptionally lower transaction costs to merchants than credit card companies, online financial services such as PayPal or even Bitcoin can produce.
This project was designed to provide a digital currency brand marketed to the LGBT community, with a focus on providing real world utility. Our goal is to have the "PROUD money accepted here" sign on a thousand storefronts by the end of 2018.
The global LGBT market - estimated at a population of 450 million individuals, collectively represents about USD$3.7 trillion in annual spending power - and has a specific pride of community and for those projects supporting it. We feel offering a durable, secure and borderless digital currency for the LGBT community will also provide a form of financial self-identification, and present a ready alternative to current financial options from an established project and community which values their diversity and understands their needs.
We hope to become regarded as a healthy alternative for merchants who choose to embrace decentralized economies while at the same time showing active support and Pride for their local LGBT community. And we plan to GIVE BACK to these communities with humanitarian grants and sponsorships, to support artists and students. With a global ripple of increased market utility, we will drive the value of philanthropy the Foundation can deliver in a self-sustaining fashion and provide not only a viable economy for the LGBT community but make a lasting difference in this world.