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  Brazil: Building with the BuildCoin | Bit Updates
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Brazil: Building with the BuildCoin

Saturday, January 20th, 2018 | bitcoin updates

The most populous Brazilian state of São Paulo wants to improve its infrastructure. The engineers who commission them want to pay for it with their own cryptocurrency, the BuildCoin. With an area of ​​248,222 km² and an estimated 45 million inhabitants, Sao Paulo is a densely packed state – after all, it is home to the capital of the South American country again with 11 million inhabitants. It is obvious that there are infrastructural problems. In order to solve these problems, the government commissioned, among others, engineers from abroad to carry out studies. The engineers are to develop projects that optimize the development of the state, paying particular attention to the feasibility. The special thing about it: The engineers receive a part of their payment in cryptocurrencies.BuildCoin to create incentivesTo do they currently develop with a US company, CG / LA Infrastructure, the BuildCoin. To test the project, São Paulo plans to first crowdfund studies for a lighting concept. If the project is successful, the initiators hope to attract international investors with the planned BuildCoin. The hope for value creation is a sales incentive. In addition, by using the BuildCoin, they want to create more effective and transparent payment options within the construction industry. The blockchain technology should also help to improve the communication and review of the respective studies. Proposals for studies can be sent to the BuildCoin Foundation via Blockchain. Approved and verified requests will then be forwarded to the CG / LA Infrastructure by the people in charge. The BuildCoin to be run on the Ethereum Blockchain will then be distributed to the individuals who submitted the requests. Other participants in each project should then decide by vote on the amount of coins. The BuildCoins should then be used for other services within the BuildCoins ecosystem. These include, for example, the market research or cooperation with other companies – whether this incentive in terms of uncertain development of the Coins enough incentive for engineers offers remains to be seen. In the spirit of decentralization, the BuildCoin Foundation is not in Brazil, but in the Swiss Zug their Brazil is not unfamiliar with blockchain technology. So one had already thought about organizing petitions on the Ethereum Blockchain. BTC-ECHO About Phillip HorchPhillip Horch completed his master's degree in Literature-Art-Media at the University of Konstanz in October 2017 and has since been working as a freelance journalist. Already during his studies he wrote for various magazines and now he is gaining a foothold in Berlin. The main focus of his journalistic work is on the opportunities and challenges of digitization, so that for some time now he has also dealt with the topic of blockchain and cryptocurrency. All contributions by Phillip Horch


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