人人币 China’s Population Cryptocurrency

Some coin called 人人币 kept popping up in Weibo, along with Bitcion and Ethereum. Someone created a cryptocurrency that is based on China’s population. The number of coins will increase and decrease with the population.

At the end of each month, Renminbi officials will destroy the previous year’s death toll / 12-month Renminbi by means of wallet mutual transfers, and when major disasters and disasters occur in China, the development team will destroy the same number of victims in real time And record the time and reason for the disaster.

A list of some examples is on the website.

Caijing: 人人币:中国人的加密数字货币

Ren Ren Ren, English RenrenCoin, referred to as RRC, was born in May 1, 2014, and in June 1, 2015 by the quark algorithm for the second generation pos currency. The total amount of new pos coins is the current total population of 1.36782 trillion in China. The annual interest rate of POS interest is 1.236% (the average birth rate in China in the recent 10 years).

Renminbi is an encrypted digital currency that simulates the ecological conditions of China’s population and is based on the actual population data of China. It is also the first digital currency in the world to integrate population ecological data into an encryption algorithm and give it a humanistic notion. Through the use of currency, users can get a general understanding of China’s population, birth rate and mortality rate, remind people to cherish their life, care for those around them, and raise awareness of all kinds of unexpected disasters and disasters in China so as to encourage everyone to Chinese compatriots in need of assistance should be provided with assistance in the spirit and material resources. Each currency obtained through the interest of pos represents the birth of a new life in China, and every single currency destroyed represents a life in China that has passed away.

According to reports, Renminbi in the early design will be able to contribute to the community charity into one. In the event of a catastrophic catastrophe in China, when Chinese citizens die, Renminbi will destroy the currency in real time and record all destruction records by destroying the log. Therefore, at the same time of recording, the Renminbi can be applied to the charity system of Chinese society through the transparency and impartiality of the blockchain, so that those who need help can get real and effective assistance.

This makes sense as a way of controlling money supply, but not destruction of individual coins.

Imagine a currency worked this way: every person had 1000 coins gifted at birth and those coins are numbered 1-1000 based on their government ID number. Upon their death all the coins are destroyed. Immediately there would be a market opportunity in identifying people with low-risk lifestyles because their coins would likely last much longer. And the coins of people likely to die at a young age would immediately devalue. There would be an incentive to improve your lifestyle/conditions because the value of your own money would rise, assuming you held on to it. That’s not how 人人币 operates, but I believe China will eventually cook up a digital currency that could include many such “enhancements.”

Author: 罗臻 http://www.investinginchinesestocks.blogspot.com

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