Tuesday, November 12

SmartCash (SMART) for Day-to-Day Use

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SmartCash

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SmartCash (SMART) is a merchant oriented, easy to use, and a day-to-day cryptocurrency that can be your own bank. It is unique as in governance style and funding method, as well as its usage methods. Let’s find out what SmartCash (SMART) is all about!

Community Driven 

SmartCash (SMART) is a community-driven coin, where the community holds a vital role in the development of the project itself. SmartCash (SMART) has a community governance system called SmartHive, where every SMART hodlers can put a vote to fund SmartCash development proposals. Everyone in the community or even a third party can contribute to building SmartCash by submitting their proposal to the system.  Then, SMART hodlers will vote on the proposal (1 SMART is equal to 1 vote). The winning project will be funded by SmartHive Project Treasury.

SmartCash (SMART) Funding Allocation

SmartCash (SMART) focuses a lot on the project development driven by community demands. It is a self-funding project with the allocation as follows:

  • 46% on SmartHive Project Treasury: This fund goes to funding development projects proposal that won the SMART community votes.
  • 24% on Hive Structuring Team: This fund goes to operational and maintenance costs to fund the outreach, development, quality etc through 6 Hive Teams.
  • 30% on Miners, SmartRewards, and SmartNodes: This fund goes to the miners that use the Keccak Algorithm, staking of SMART coins (SmartRewards) and running SmartNodes that enables next-generation features such as instant pay.

Hive Structuring Team

SmartCash (SMART) does not believe in the core teams as it leads to centralization and inefficiency at the end. Therefore they implement what so-called Hive Teams, which is inspired by the decentralized organizational model of bee colonies. Hive Teams are decentralized teams that are stationed globally. They are contributing to vital project areas such as:

  • Outreach: focuses on community building. It also has another Outreach team dedicated to the community in South America.
  • Web: responsible for developing web applications
  • Quality Assurance: controlling the quality of all development tasks
  • Development: responsible for building SmartCash and supporting applications
  • Support & Web: responsible for general SmartCash support

Borderless Remittance Coming Live

Most people find it hard to do remittance across different countries. People do have several options, like Western Union for instance. However, it is quite costly for a fast remittance process. Furthermore, besides the fact that people need to settle the transaction in cash at Western Union store, a service fee will be charged in addition.

SmartCash (SMART), a cryptocurrency that knows no third party, provides less than 5 minutes transaction speed and charges no expensive fees emerged as a solution to this matter. SMART has taken the opportunity and make this service available wide in Portugal and Swiss ATMs through SmartCash International Transfers.

SmartCash International Transfers works by sender requesting a withdrawal in SmartCash Web Wallet initially. The Web Wallet will create a QR code and the sender will send the code to the recipient. The recipient then will show the QR code to compatible ATMs and can withdraw the money directly in local fiat currency. Thus it is fast, cheap and convenient. 

Closing Thought

The time to mass adoption of blockchain technology and cryptocurrency might be closer than expected. SmartCash (SMART) is one of the cryptocurrencies that already takes a step towards global usage.

Honest Mining is supporting the SmartCash (SMART) movement by hosting SmartNodes for more users. Join SmartNodes on the Honest Mining platform today, earn around 19% yield annually, and be one of the SMART hodlers that can make a difference to this growing cryptocurrency! Happy Staking!

 

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