01 May MILCOIN: THE NEW MEXICAN CRYPTOCURRENCY
MILCOIN: THE NEW MEXICAN CRYPTOCURRENCY
In Mexico, entrepreneurs César Hank Inzunza and Cuautémoc Hank Myers have created a new cryptocurrency called Milcoin based on resorts and expect to get more value than bitcoin, says Steven Schwartz, marketing strategy advisor Milcoin Network, in interviews published in media local on February 20.
Milcoin is expected to be the first ” second generation ” digital asset, backed by real estate assets to promote sustainable tourism developments in Mexico and Latin America, according to the executive’s statements.
The advantage of this cryptocurrency will be the support and the entrepreneur assures that the Milcoin ” is the first hybrid in Mexico composed of a virtual currency and a package of traditional banking shares, so whenever an investor buys Milcoins he will obtain shares in seven different public companies, and their value will always tend to rise because it is backed by real estate . ”
” The procurement portfolio consists of 5 million hectares with more than 1,000 kilometers of beach in countries such as Mexico, the Bahamas and Colombia, ” he explains.
Likewise, the advisor indicates that “the structure of the investment is divided into integrated blocks, with a total of 18,000 units. Each contains 32 financial instruments, 2,000 free trade milcoins and 2,000 shares for each of the seven companies that make up the project.
“According to the advisor, ” foreigners who want to invest in the Mexican cryptocurrency must pay $ 1,000, while the amount required for Mexicans is $ 250. “
In turn, he states that ” the company’s forecast is that the value of Milcoin will be at least 10,000 dollars, which is more than double Bitcoin ” (3,948 dollars to date).
Each of the investors will be granted an instrument called the right of appreciation, which consists of allocating additional currencies or shares to cover the disparity between the market price and the projected, in case it does not reach its estimated price, clarifies Schwartz.
When asked about hacking risks, Steven Schwartz assured that the technology that supports Milcoin , developed by the company LatAm Ocean RE Ltd. & Milcoin Network has strengthened the system to provide additional efficient fraud protection to the administration of cryptocurrencies and Blockchain .
On the other hand, the advisor has stated that the company has completed all the documentation and requirements requested by the Securities and Exchange Commission of the United States (SEC ) for its investors, ensuring that they comply with the laws and regulations applicable worldwide.