1 Euro = 1 PrinzipiaCoin
What is PrinzipiaCoin?
PrinzipiaCoin (Prinzipia) is the crypto currency that runs on Waves Chain. It is the medium of exchange and payment for services on Prinzipia. Prinzipia was initiated and led by Andreas Köppen.
PrinzipiaCoin will be used for many services in Prinzipia including:
- Property registration
- Vehicle registration
- Identification system
- Smart contracts
- Business registry
- and more
The first application for Prinzipia is its crypto-currency PrinzipiaCoin. PrinzipiaCoin will be partially initiated and all those coins will be donated to three different non-profit foundations:
Prinzipia Foundation (20%)
Prinzipia Fund (55%) (under development)
Prinzipia Business Incubator Program (25%) (not operational yet)
55 percent of the initiated PrinzipiaCoins has been donated to Prinzipia Fund. Prinzipia Funds mission is help establish start-up’s, micro-peers and other groups in our communitie that is founded upon the voluntaryist philosophy.
The funds that are donated to Prinzipia Fund is intended to last 200 years and each year the fund will be allowed to use 1/200th of the funds for a yearly budget. A large part of the Prinzipia Funds yearly budget goes to funding various projects and Prinzipia has been granted a one-time amount of 1 mill PrinzipiaCoin in addition to a monthly payout of 20k PrinzipiaCoin.
In Prinzipia we do not wish to pay our members in government fiat currency and until now everyone has been working without compensation on a voluntary basis. A large portion of the PrinzipiaCoins we have received will therefor be used as salary for our workers and also compensation for external work that is related to the continuous development of Prinzipia. PrinzipiaCoin will therefor be the only means of payment for our workers in Prinzipia. PrinzipiaCoins can be used directly as payment for products and services in Prinzipia or can be exchanged for other cryptocurrencies or fiat currencies on Waves Platform (Wallet).
Valuation of PrinzipiaCoin
Because PrinzipiaCoin (Prinzipia) is a brand new cryptocurrency and is not yet traded on any exchanges, there is no market valuation of Prinzipia. During our joint development of Prinzipia together with the Prinzipia Foundation we had to set a desired initial valuation of Prinzipia to calculate the number of coins that was to be issued on a yearly basis over the next 200 years as well as how much was to be donated to each of the three funds.
We agreed on a initial valuation of 1 EUR per PrinzipiaCoin and we will therefor base our hourly wage for workers on this valuation. Workers in Prinzipia will be paid between 15 and 30 PrinzipiaCoin pr hour depending on the work and qualifications.
Prinzipia Wave Wallet
Wave Wallet is the name of the wallet where you can send, receive and store your PrinzipiaCoins. Wave Wallets are currently available for PC, Mac or Linux and smartphone versions for Android and iOS. You can download the latest version of Wallets by clicking on the link below.