MineCoin Central Bank: Algo or human?


Bitcoin Press Release: MinexSystems wants the community to decide whether the Minex Bank should be completely automated or allow human intervention.

October 12, 2016, Kyiv, Ukraine – Minex Systems, invites the community to vote on certain key issues regarding the future operations of Minex Bank. Through this voting process, the development team intends to choose between algorithmic, decentralized and human controlled banking models.

Minex Bank is a critical element of Minex Ecosystem. With functions similar to that of a central bank, Minex Bank is responsible for the support, stabilization and regulation of the exchange rate of MineCoin against other cryptocurrencies. It is also responsible for handling deposits and financing.

The MineCoin development team is currently facing an important question regarding the model of Minex Bank and they would like to get it answered from potential users and holders of MineCoin. They have opted for a voting process to ensure that the trust and transparency in the Minex Ecosystem is maintained throughout the development and implementation process.

The question faced by Minex developers revolves around the most suitable and trustworthy banking model for Minex Bank. The development team currently has two options in front of them, one that calls for all the banking functions to be algorithmic and decentralized and other that requires risk monitoring and important decision-making functions to be controlled by humans.

The voting process is currently live on MineCoin.org, open for individuals and community members. Soon after logging into the voting tab, the user can vote for either one of the two options suggested by the developers. If the users can think of any other viable alternative to both these options, they can present it to the developers on the same platform.

Read More @ CryptoCoinsNews


Comments (No)

Leave a Reply

%d bloggers like this: