MilCoin: first cryptocurrency with real estate support
On February 21 the initial offer of the MilCoin cryptocurrency was carried out by LatAm & MilCoin Network, a company co-founded by businessmen César Hank Inzunza and Cuauhtémoc Hank Myers. The digital currency is the first of its kind with real estate support to increase its long-term value, so it is expected to appreciate above Bitcoin.
In the presentation, Steve Schwartz, general advisor of LatAm design and marketing strategy, commented that the value of the currency is 150 dollars and the minimum investment for foreigners is 4 MilCoins, while for Mexicans it is so just one coin. The investment package includes shares in 7 American companies that will invest in the real estate project. In this way, it presents a mixed scheme between blockchain technology and traditional investment with physical assets.
With the resources obtained LatAm & MilCoin Network will finance the tourism sector and increase the returns of investors with the acquisition of more than 150 hotels and 5 million hectares of land, considering 1 thousand kilometers of beaches and water fronts, in 12 states of the Mexican Republic, as well as some Latin American countries such as Colombia. These lands are intended to develop new tourist complexes, departmental buildings, luxury villas and at least 10 tourist and entertainment centers; in addition, of commercial, office and service projects.
According to César Hank Inzunza the project arises from the concern that was had to build a resort in Baja California; however, it was not carried out because of the interest they had to pay for the credit they were granted. “We analyzed the matter, we already had it approved, but with debt, with interest; no matter how much we did to the numbers, it was a great risk to be paying interest month after month. He ate the profits; from there we started looking for various financial instruments until we found this one, which we created and mutated to have a 100% debt-free company. Everything is financed by the investors, by the people who believe in the project, a factor that eliminates the risk. We are not going to have a single debt because we do not have a single credit, we are not going to pay interest on anything, we prefer to work with the investors’ money and make them earn. ”
In this first phase, MilCoin Network invites more than 200 million investors to acquire their currency in 195 countries around the world. For which the firm is also seeking to generate more agreements with companies that accept the cryptocurrency for the acquisition of products and services.