You’ve heard of cryptocurrency (i.e. decentralized digital currency). You may even own some. From Bitcoin to Ethereum to Ripple to smaller “altcoins,” there are thousands of cryptocurrencies to choose from. But all cryptocurrencies have different uses and values, making it hard to pick which one of the masses is “best.” The answer really depends upon what sort of coin you would like to support, with features and ethics that stand out to you.
One of the more niche coins on the market right now is one vegans have been rejoicing over–It’s called VeganCoin, it identifies as a “Cruelty-Free Cryptocurrency,” and it exists as a response to both centralized banks and other less trustworthy currencies.
VeganCoin is the name of the currency that runs on the VeganNation blockchain platform, based in Israel but operating globally. The nature of a blockchain is that all transactions made through that system are publicly recorded on the chain for other users to see and verify (typically through a practice called mining).
This ensures total transparency over which items are being purchased with VeganCoin and that they meet standards of ethicality. The system allows consumers to trace their purchases back the source for peace of mind that ethical practices were in place the whole way through, and it incentivizes them to use their coins to purchase goods within the platform’s own vegan and ecologically-sound marketplace (or any external companies that also meet these standards). There are already several committed partner businesses ready to accept VeganCoin when it launches, with that date yet to be determined. Most are based in Israel, but one and counting are in the United States.
What Other Benefits Does It Have?
VeganNation is, no doubt, aiming for nation-level status within the world of cryptocurrency. Their aim is to develop a fully-formed crypto ecosystem for vegans, ethical food or product suppliers, and conscious consumers. This is why they offer not just their VeganNation online marketplace, but also a VeganPoint meal sharing platform (where users can order food from nearby vegans), plus an online social platform where users can connect.
Should I Invest in Crypto?
At this point, there’s no right or wrong answer. The blockchain community is still very small and very much so on the fringes of global economics. But many users see this as its main point of attraction. Some of the very first investors in cryptocurrencies like Bitcoin were people fed up with large, traditional banks and ready for a change. They wanted to regain security and financial control–especially after the economic crisis of 2007-2008. They called themselves activists and sometimes crypto-anarchists, rejecting the economic status quo.
Now, the view on cryptocurrency has changed a bit, with more and more interested buyers simply seeing it as an investment opportunity rather than a radical act of change. But even if you’re in the same boat, shouldn’t you at least be investing in a company whose mission you feel strongly about?
If the answer is yes then maybe an investment in VeganCoin would be worthwhile. At the very least, you may be able to buy some cool new products or eat some home-cooked vegan meals out of it. At the most, you can take solace in the fact that you are supporting the growth of the vegan community and ensuring your own purchases are in line with your values.
What are your thoughts on cryptocurrency? Do you think VeganCoin has a chance to make a positive difference?
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