The Outreach, Development, Web, and QA hives are reducing all spendable payments by 2/3rds immediately. One third of payments will be available as a spending address. The remaining 2/3rds will be sent to a second address but expected to be held until there is a price recovery for at least one month. The Development hive will allow this to be held as SmartNode collateral. Additionally, the Support hive is considering how best to proceed in order to minimize market effects next month. Outreach 2 is committed to reducing costs while still focusing on expanding branding and merchant adoption. This reaffirms the team’s commitment to success of SmartCash and will help to reduce immediate sell pressure.
As a reminder to the entrepreneurial and decentralized nature of the project, SmartCash never had an ICO, did not complete a premine, and is entirely self-funded through a portion of the block rewards. This portion is sent to dedicated addresses to support the ongoing development of SmartCash. All transactions from the treasuries are viewable on the blockchain. Additionally, the majority of block rewards are allocated towards the SmartHive project treasury. To date, there have been 36 completed project proposals and another 35 which are currently active, only having depleted the project treasury by 2.6%. Overall, SmartCash is positioned well to be able to support community proposals for years to come through the 120 year emission schedule.
You can view the project treasuries at the addresses below. As a reminder, SmartCash during October 2018, will be moving all hive budgets to higher security multi-signature wallets, in an ongoing effort to decentralize and further de-risk the storage of SmartCash Funds. This ensures an overall increase of security for all hive budgets.
SmartCash is an easy to use, fast and secure cryptocurrency that supports everyday use such as business payments and daily transactions. SmartCash is meant to be a currency and our vision is to replace centralized fiat currencies. SmartCash is a coin with its own blockchain that uses the Bitcoin base code.
SmartCash has a unique decentralized governance system and technologies such as SmartNodes, InstantPay locked transactions in about a second, send by SMS and email, a project treasury with private key voting, SmartMining security, SmartCard, and it’s Point of Sale app called SmartPay. SmartCash is pushing the limits of blockchain technology with tools that support entrepreneurship and innovation.
Intended for use worldwide, SmartCash is available at ATMs, the first cryptocurrency shop in Europe, The House of Nakamoto, local exchanges and is especially popular in South America and Africa. In Brazil, 85% of retailers accept SmartCash with the SmartBand and is now available at an additional 13,000 Caixa locations in Brazil.
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Web Wallet: https://wallet.smartcash.cc
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