We want to present a technology with transformative potential. The main difference between social currencies created using Cambiatus and the others is that we use blockchain technology to create a platform that allows communities with common goals to organize themselves, achieve goals through specific actions and create incentive systems based on the social currency created on blockchain.
And you must be wondering:
In a simple way, we can say that Blockchain is a public database in which digital events are recorded and distributed among many people. This base can be updated when there is consensus among the participants, and from there the new information will be safely saved and cannot be deleted later.
In short: blockchain serves to transfer value between people without the need for intermediaries. This means that the currencies that use Cambiatus do not need financial or governmental institutions to exchange value with each other.
In this video, Bettina Warburg explains what technology is for different age groups.
So we think you might be asking yourself another question: but what about bitcoin? Where does he fit into all this?
Bitcoin was the first application of blockchain technology, and after it came several other networks, mainly focused on smart contracts, with different characteristics and functionalities, such as Ethereum, CELO, Harmony, Algorand or EOS, used in Cambiatus.
In this video, Luiz Hadad makes a brief introduction to what blockchain is and its possible applications
(the speech starts at minute 55)
But then, why use this technology in the implementation of social currencies?
Blockchain offers decentralization, transparency and security in data transmission. These features can be exploited for many applications in currency exchanges, product traceability, smart contracts and even voting systems.
Already here addresses the change that blockchain is bringing about in the financial and business world.
This video talks about some applications of the technology