Quarashi — The Forever Changing Cryptocurrency
Quarashi is a decentralized, global cryptocurrency that can be easily converted into local currencies. The Quarashi platform will allow customers to use the currency to buy and sell products online.
XQN is a decentralized global cryptocurrency that can be easily converted into local currencies. The XQN platform will allow customers to use the token to buy and sell goods and services on the XQN marketplace.
Quarashi will look and feel like a normal currency, with the difference that it is backed by a blockchain. This means that you can not spend your money twice — the system will only allow you to spend the amount of XQN equal to one unit of the currency you are paying with.
One of the most important things about Quarashi is that it is not a product or a service — it’s a currency. If you want to use Quarashi to pay for things, you will do so by converting it into other currencies. For example, if you want to buy something in Canada, you will convert your XQN into Canadian dollars.
It’s like an international currency card, where you can convert your local currency into any other currency in the world.
Quarashi has been designed so that it can be used in any country in the world and that users of different countries benefit from its advantages.
We are a start-up with an ambitious goal: we want to replace all the worldwide financial systems with a blockchain-based decentralized system.
We call it Quarashi, which is the name of a type of currency used in the Caribbean. Our goal is to make Quarashi the cryptocurrency of choice for all micro-payments, online purchases and local payments in the world.
In our mission statement we talk about making a global currency that works everywhere. We have found that it is easier to get people to understand and commit to a global vision when they don’t feel like they are being asked to do something impossible.
The most obvious objection is “What if I don’t live in the Caribbean?”. This objection misses two things. First, Quarashi will not be restricted geographically — you can send any amount of money anywhere in the world in seconds (even if you don’t actually have access to that money). Second, our application layer is open source, so you can build your own version as well (or something very similar). In fact, we expect there will be many alternative versions because different communities will have different needs and preferences.
Money is a means of exchange, but a better one than anything we’ve ever had. In the old days, you could say “I’ll give you a dollar for it” and no one would want to take your dollar. Not only do people not want to take your dollar, they don’t even want to use it as money. They’d rather have something else. You can’t buy a book with a dollar; you can only buy the book with some other sort of currency. But in a modern economy, there are probably many more ways to buy books than there are dollars.
So it’s not really the case that people don’t want to use dollars as money. It’s that they don’t want to use dollars at all. The distinction is between nominal and real value: dollars have more value than the goods and services you can buy with them — so people prefer real dollars to dollars as money.
In Quarashi, the real value of XQN is fixed by the blockchain at 1XQN per coin
In finance, you hear the phrase “backed by a blockchain.” It means that some other thing is essentially backing the currency. You can’t spend your money twice; if you try, it will cause an unpleasant error. But what that other thing is, you don’t know. It could be a deposit in a bank or an asset in the company’s balance sheet or even just a promise to pay to a third party: maybe their software engineer will say “This is my XQN, take it or leave it.” If this other thing falls apart, the currency will collapse too.
We don’t have something like that here. This is more like “backed by its own blockchain,” meaning the system will work on its own. The only thing backing XQN is our belief that XQN has value — because it makes people happier than not having it and more willing to give us money for it.
You might think that this means a lot of things need to go right for XQN to succeed; but actually the opposite is true: XQN needs only to do one thing right. You are giving us money because we offer you something you want and we can do well: we can give you what you want better than anyone else who might have
The possibility to pay for goods and services with a cryptocurrency is a good way to get people to understand what the technology is about. But it’s not necessarily a good way to create more awareness of the actual cryptocurrency.
At the moment, as far as I am aware, there are no cryptocurrencies with real-world applications that are easy to understand. Cryptocurrencies are so complicated that even if you tell someone what they do at first, they will probably not understand it — and even if they do, they won’t know how to explain it concisely.
It would be better if there were a cryptocurrency that looked like a traditional currency but was actually backed by something real — say, gold or oil or diamonds or something else that has physical value. Then you could explain exactly what it does and why it would be useful without having to worry about metaphors or analogies.
Bitcoin is a decentralized cryptocurrency — the only currency that is completely independent of any government or bank. The government can’t print money and the banks can’t print money. This means that Bitcoin is not just a currency, it’s a tool for using money more efficiently. It will be easier to transfer large amounts of money, securely and for free.
Bitcoin can also be used as an investment. Bitcoins are becoming more useful all the time. As the networks become more secure and transactions become faster, people will start using bitcoin more often.
Because it’s decentralized, Bitcoin cannot be manipulated by governments or banks. That means that you can use it to send payments without worrying about your country’s policies on payments or its exchange rate fluctuations. There are no fees and there’s nothing to lose if you lose your payment or your computer crashes. Bitcoin can be used around the world with minimal risk of fraud or stolen credit card numbers.
Bitcoin isn’t perfect yet, but every day it becomes better in functionality and security and less reliant on third parties.
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