THE RECIPE FOR SMARTCASH
SmartCash has been specifically designed with adoption & fungibility in mind.
Wanna get involved? The SmartHive has a place for folks of all backgrounds. Come hungry!
We believe ‘Core’ teams are a bad idea and something that ultimately leads to inefficiency and corruption. We want to move past it and create a decentralized organizational model inspired by ant and bee colonies.
In order to create and maintain a decentralized governance structure, we are introducing two concepts SmartHive and Hive Structuring Teams (HST). SmartHive enables anyone that holds coins can vote on proposals submitted by the community. SmartHive will be the lifeblood of the project, which will allow anyone to get involved and submit proposals, helping to generate organic growth at a grassroots level, creating a bottom-up management structure.
HIVE STRUCTURING TEAMS
The Hive Structuring Teams (HST) will lay the groundwork for the project and set the framework for the project’s evolution. Initially, the Hive Structuring Teams will operate three separate departments in charge of vital project areas, such as development, outreach and support. Each of these three departments will end up employing people. As teams grow larger, bigger than eight members, more teams will be created, each with its own budget and team coordinator, operating autonomously without a central command and control structure in place.
The Hive Structuring Teams will consist of people directly involved in the project on a day to day basis, while the overall SmartHive will aim to enroll and engage community members and other 3rd parties interested in growing SmartCash into a global world wide currency.
All Smartcash users deserve a voice, from day #1. That is why Smartcash is pioneering in the crypto-governance space and was built around Smarthive, the platform that lets all users vote on the direction of the project. More information will be released soon describing this platform in depth.
Basically, each SmartCash Token is worth 1 vote, to keep it simple.
SmartRewards are a price stabilization mechanism and a way to encourage long term holding. Long term holders are key to the project’s success since the SmartHive treasury needs SmartCash to appreciate in value in order to fund meaningful 3rd party proposals and help grow SmartCash into a successful global crypto-currency. Each wallet address holding at least 1000 SmartCash will get paid each 30 days on average after the 25th snapshot date. The SmartRewards will come out of the 15% block reward allocation.
Here is a small example: if you buy SmartCash on the 24th, you’ll have to wait until the next month to get paid, which is around 30 days, however if you buy on the 26th, after the snapshot date, you’ll have to wait around 60 days to get paid.
These payments will occur on the 25th of each month.
All users need to move funds into addresses larger than 1000 SMART before the 25th to be counted.
Fungibility is a key stone of the SmartCash platform.
In order to achieve our end goal as a fungible and widely adopted currency, the Zerocoin implementation is the foundation best suited for reaching these goals. It provides users to create new coins via the Renew feature in exchange for older coins. These new coins have no history but are still viewable on a public ledger where all transactions can be displayed easily for all to see, which is key when implementing with merchant systems. This solution disables tracking from services like Coinfirm, and is faster than Coinjoin based mixing.
InstantPay ensures SmartCash is always blazing fast, no matter what you are buying.
InstantPay is going to be a key feature that allows instant point-of-sale in-store and online purchases. People should be able to use cryptocurrency as means to pay for their daily needs. InstantPay makes that a reality and allows for transactions to happen instantly, even faster than using your Visa or Mastercard.
No matter if you want to buy a coffee at your favorite coffee shop, fill up your tank at the nearest gas station, buy a bus ticket or pay for a video download, InstantPay makes that a reality. This is currently not possible with Bitcoin due to its technological limitations and network constraints, which result in transaction delays and high fees.