The highly anticipated pre-ICO sale of a crpyto-currency called MahalaCoin, powered by FORUS Global Digital Exchange, an ecosystem of businesses built on a public utility blockchain is just underway.
What's different about this crypto-currency that separates it from others is that it's the first crypto-currency to be backed by actual external revenue- basically being ad revenue in what they call adver-buying (more on that in a later article). The more active users on the platform, the more the coin is transacted – the more revenue is generated, creating more capital and increasing the value of MahalaCoin. The more it scales, the more powerful the ecosystem becomes, which rewards the coin holders even more.
Because of the blockchain, a patented SQR (Secure Quick Response) code, and the act of the transaction in virtually real-time coming in with ad-revenue at the same time, it allows the act of the transaction to be absolutely free and in the hands of the users. No more middle men. That's the beauty of the blockchain and this platform.
Why is this a big deal? Let's talk about the current system in the banking world:
The banking system thrives on making money on the backs of the under-banked people, small businesses and predatory practices in the form of "service" fees, transaction/fraud fees (overdraft fees, charge-backs) and insane interest rates on small loans. Even the timing of how money gets into your account makes money for the bank. Ever deposit a check and have to wait to actually receive your money? Ever receive an overdraft fee because of the funds that you were expecting to be there just weren't processed yet?
That's why this is such a big deal, FORUS along with MahalaCoin is giving the power of the transaction to its users, while making the transactions free, in real-time, not allowing fraud fees, while also creating a way to give its users access to capital.
Imagine if Google (making close to $20 billion in 2015) was a like cooperative bank or union bank (customers own it in some way), and created a way to share it's revenue with its members by providing shares, and giving close to zero or zero interest on loans. Imagine this bank mainly investing in co-operative businesses , social enterprises, mom and pop businesses,
self-sustaining infrastructure projects (solar energy, permaculture, and public-owned internet). Imagine a financial institution that invests its $20 billion in people rather than just making money off of them.
The biggest thing about all this, it allows about 2.5 billion under banked people in 3rd world living conditions a free bank account to get into the act of getting access to money, to buy, to create, and sell back into the FORUS eco-system. I could only imagine the amazing things that people could make, and they only need an economic chance to have it. I'm sure there is a second coming Nikola Tesla out there somewhere, and now we can give him a chance to change the world.
That's the world the team at FORUS with it's Mahala-coin is trying to build.
I'll follow-up with articles going over;
1) Adver-buying
2) Cloudfounder
3) Mahahla TV
4) Payments and Banking
5) The Public Utility Blockchain and "the eco-system"
6) Social Projects already underway
7) How the buying power of 100 million people could end
poverty and reshape the world we want to live in.