Social Currency is a type of alternative currency that aims to strengthen social and economic relationships in specific communities. These currencies are created and managed by the community members themselves, and can be used to exchange products and services between participants.
In Brazil, there are several social currencies in operation, such as Palmas, Saber, Curupira and Mumbuca. Each of these currencies has its own way of functioning and can be used in different regions of the country. The use of social currencies can contribute to strengthening the local economy, in addition to promoting solidarity and cooperation among community members.
The use of blockchain technology allows transactions with social currencies to be recorded in a decentralized and immutable manner, ensuring the security and transparency of operations. In addition, blockchain technology enables the creation of smart contracts, which are programmable contracts that automate transactions and guarantee the execution of agreed conditions, such as the issuance and reduction of currencies in circulation.
Through the integration of blockchain technology and social currencies, the project was generated Digital Social Currencies – MSD which allows through technology linked to MDMCoin Blockchain the generation of customizable assets for the specific needs of each partner integrated into our network.