Most cryptocurrencies base their development on a problem whose solution they propose to be achieved by the implementation of decentralized technology. If we look at the bitcoin whitepaper, we can see that by building a computer system that confirms nodes on the network, person-to-person transactions are allowed without the implementation of third-party services, something that aimed to overcome the lack of confidence in the financial system that caused the real estate crisis of 2008. Building a better society must take into account how to benefit those who have been left out, with this in mind; the team of Mexican developers of the stablecoin Moneta, you have successfully completed your Bell of donations of the Magi in the Mexico City.
“We are eternally grateful to Moneta Digital for initiatives like this one, these events are fundamental and are part of the educational pillars that we promote. Besides being important for the social-emotional formation of the children that we cannot provide due to lack of resources. ” Mother MarĂa Alicia, General Director of the Primavera IAP Asylum in a press release from the Moneta Digital team.
Through their social networks they let users know that donations from the campyear would be measured in the form of community participation, meaning that for each like on their Facebook page or each follow on their Twitter account, 1 MMXN (nominal value of their stable cryptocurrency at parity with the Mexican peso) would be added to the Common fund that was used for 60 children from the Asilo Primera home in the Colonia Hipódromo, could enjoy the meaning of the growth proposals oriented to social impact. That said, from Cointelegraph we wanted to understand what was the development proposal that started from the Moneta team and its long-term vision, for this, we contacted the General Director José Guadiana through his social networks and he offered us the following exclusive interview:
J. A. MartĂnez: Why develop a stable cryptocurrency linked to the Mexican peso?
J. Guadiana: We are the first stable currency that is on par with the Mexican peso, the technology behind the development allows transactions from person to person without losing the reference value, the tokens that can be exchanged will always be for the value of 1 MMXN for 1 Mexican peso. We have noticed that crypto assets have grown in importance and adoption, that is why crypto-stable ones gain relevance for storing value, making payments, among others.
A stable value currency such as MMXN and similar ones based on fiat currencies, are necessary to allow the massive adoption of blockchain technology, as well as to support products built on the platforms of smart contracts, DeFi applications and other financial services. Our intention is to offer financial transparency solutions, as well as establish connections with banks and auditors to operate within the regulatory framework of our country. We wanted to offer a more intuitive tool so that Mexicans can cross the space between cryptos and fiat money, being familiar in quotation and that allows sending remittances, payments or other uses that provide the use of the open source ERC20 on which Moneta is based .
J. A. MartĂnez: In what way have they promoted the familiarization of cryptocurrencies for users of the Mexican market?
J. Guadiana: Our product is designed based on intuition, with the objective of making it easy for conventional users of the Mexican market a massive and general adoption of cryptocurrencies. In our first year of operation, we have managed to simplify concepts and explain to users what are the benefits of blockchain, educating on how it works, what can be achieved with cryptocurrencies.
To achieve this educational purpose on cryptocurrencies and stablecoins, we have developed infographics, educational videos, articles in the media, workshops, and alliances with educational platforms such as Mexo Acadamy. We have worked hard on how using a stablecoin can be beneficial in the real world, with the intention of making it easier for users to implement it in their daily lives.
J. A. MartĂnez: Why is it important for Mexicans to have a cryptocurrency that is linked to the value of their fiat currency?
J. Guadiana: The Mexican peso is one of the most used currencies in the entire American continent, it is only behind the US dollar and the Canadian dollar, being also the most stable currency in the Latin American region and the third most used for sending remittances around of the world. For the Mexican market, not all financial needs go through the use of the US dollar, on the other hand, our users have a more direct need for the peso and that is where the meaning of our value proposition lies, offering input and output channels for products decentralized. This can be understood as the purchase and sale of crypto assets on exchange platforms, or something as simple as buying a cup of coffee in our country with cryptocurrencies.
J. A. MartĂnez: What motivated you to create a donation campaign that was driven by people’s participation in your social networks?
J. Guadiana: The “1 Like: 1MMXN” campaign was created with the purpose of returning value to our community in a 100% transparent way and from the heart of the development team. We are sure that responsibility as a company, together with the creation of a fairer society, part of the use of cryptocurrency technology. In this way, we allow these values ​​to form part of our objectives and actions that we will continue to carry out in the coming years.
This is how we will be able to generate awareness about this type of actions and contribute to the adoption of cryptocurrencies in our country, allowing MMXN to be understood as a means of transferring value. It is important for us to share with people who are outside the ecosystem, in order to visualize the scope and impact that can be implemented with this technology within daily life, as well as the improvement of benefits to non-profit institutions such as the Asylum Primavera IAP.
J. A. MartĂnez: In what way do you think this type of altruistic activity can help you find your ideal user?
J. Guadiana: If we want the goal of mass adoption of the MMXN to be achieved, we must first help users understand how the decentralized ecosystem and cryptocurrencies work, what they can do and generate the trust that allows not only to see ourselves as an alternative, but to get in touch with the ecosystem and the use of technology in general. Some users see cryptocurrencies as something distant and do not find a relationship to their daily activities, we want to become the bridge of meaning of how simple its use can be. Our ideal client is one who is not only looking for a company for the service or profit it may have, but who takes the time to understand the projects and what is the value they pose, as well as the social responsibility that these projects follow. This type of user will feel identified to contribute to these projects, because they will identify the objectives and understand them as a common goal, finding themselves aligned and focused on generating the social changes necessary to adopt technology.
J. A. MartĂnez: What are your growth plans for Moneta Digital in 2022?
J. Guadiana: Everything revolves around our educational vision, so that we can help users in the Latin American region to achieve mass adoption of cryptocurrencies and their stable version such as MMXN. Our route is to partner with exchange platforms, offering entry and exit ramps for fiat money, ensuring that non-conventional users of the environment can easily participate with a meaning of value close and tied to something known.
Our product portfolio plans to expand into DeFi and GameFi products, where we want to offer users the benefits of NFT technology in conjunction with the earnings of the Metaverse through the use of MMXN. We have to announce collaboration tools with Mexo.io, in which users will be able to make staking with their MMXN and generate interest based on the invested capital. Our growth plan is simple, put ourselves in the shoes of our users and strive to solve their needs, this will be achieved through the financial services and products that we are going to offer, hence our growth and organic adoption.