Introduction

The existence of local payment means is very old, as well as the trade with different means of exchange. In the modern world the use of these means of payment has spread but has been seen in the midst of a crisis of scarce money and within submerged economies.

The ways of staying afloat in the face of an economic crisis are varied, in addition to savings, other forms of circulation of capital are proposed, such as systems based on alternative currencies. These proposals consist of locally printing a currency that keeps the capital circulating in the community and in this way protect local production and strengthen social ties.

A clear example of this was the success of the alternative system operating in Berkshare County in which banknotes are purchased from local banks in exchange for dollars and used in various stores within the same community, a process that stimulated economy that was marginalized.

However,

The blockchain technology is revitalizing the concept of alternative systems and several cities and communities throughout the world are beginning to work on their own versions, however there are non-technical communities that do not know the mechanisms they must apply to generate your own currencies that meets the needs of all the people who use it.

What is Native?

Native is a platform based on Ethereum where you can create and participate within a community and develop projects based on the welfare of your economy. This platform allows communities to participate through unique community currencies and collective decision-making tools. Native offers value to communities through its own native currency and also provides a set of tools that help decision-making when faced with the concern of carrying out a project.

Benefits of Native

Many people around the world live within different communities, either at your place of work or where you live, these communities have common interests, but it seems incredible that they usually do not know how to carry out a project or how organize and establish itself as an enterprising community.

Native is offering all these people to develop within a community carrying out projects and fulfilling their objectives. Also within Native you can generate your own currency and that can be managed effectively.

Native represents an alternative for all those people who do not know the mechanisms and tools that are needed to form a community where single coins can be generated to protect the production of the local economy.

Source

When creating a community in Native:

1.- Within Native, members can obtain capital by issuing tokens that serve as an investment and as an alternative system to traditional forms of commerce.
2.- Provides the possibility of participating in important decision making and collectively through the platform survey.
3.- Native introduces you to a new financial system where you have the ability to exchange value.

How does Native work?

Native is within an ecosystem formed by the Native token (NTV) and community currencies.

alt
Source

Native Token: It is the base currency of all other currencies in Native. The Tokens within Native are activated as Bancor Smart Tokens (BNT), these Smart tokens work within a platform to help create smart currencies and give them liquidity. It allows users to create smart coins that can be exchanged for other cryptographic currencies immediately. There is no need to look for a buyer or seller that has an equivalent need. In addition, it allows new currencies to be exchanged at the time of their creation.

These Smart Tokens use a continuous token model, which means they can coin and destroy tokens as users interact with the Smart Contract. This is an alternative model to establish an arbitrary number of tokens initially and keep the supply stable.

Community coins
Community coins are the local currency of each community and they keep their reserves in native Token (NTV).

Native token model

alt
Source

Native Wallet

alt
Source

Within the Native platform you can access and buy NTV using a wallet called Metamask. This allows you to safely store several amounts of value in the comfort of your own browser, without having to resort to having hundreds of different wallets. This is not the only wallet of this type, however, there are reasons why it should be used:

Create a pair of private keys through a special phrase, and it is accessible through the web browser. The user has full control of their private keys, which can be used to access funds anywhere.
Allows you to keep any Token ERC20 in the same wallet, and easily see your account in the chain of blocks of Ethereum.
You can interact with the Ethereum blockchain without having downloaded or executed the proprietary software that is usually necessary.

Case of use

William belongs to the choir voices of a Catholic church in his region. His colleagues and he have common interests regarding the creation of a musical group that benefits both the church they belong to and other churches in common and that they are recognized for their talent.

They decide to create a community, however, they present one of the main obstacles that invade these organizations, such as the allocation of capital. In Native William and his group can develop their community due to the large number of tools provided by the platform.

Here they have the capacity to finance the expenses to promote their spaces, their musical instruments and their events according to the interest that the community presents, which will open the possibility of presenting unique concerts and may have a greater approach to the public and other organizations in common.

Conclusion

Native is a decentralized platform in the block chain that provides the opportunity for communities to protect their financial system. It facilitates the purchase of tokens to promote the development of the communities allowing a self-sufficient economy that does not need the supervision of any governmental entity.

Therefore, it is important that all communities create their own system based on alternative currencies (or tokens) so that all the money generated by a community stays within the same community and so, together achieve the change towards an economy more decentralized.