What is Belarusian crypto-taler?

What is Belarusian crypto-taler?

Photo: Teleskop: Belarus News

The birthday of the crypto-taler is September 13 when the first transaction was completed between the creators of the project.

This project, by and large, was based on enthusiasm, say the creators: "We wanted Belarus to keep up with the world trends". The developers noted that the crypto-taler is in no way a replacement for the Belarusian ruble, but it can act as an additional economic tool. The developers already provide the tokens to organizations and companies: they can use crypto-talers in loyalty programs, for example.

"The rate of taler on the stock exchanges has grown from a few cents to almost one dollar. This is due to the fact that the total number of talers that can be released is 23 million and 333 thousand. The resource is limited, some talers were already lost, like bitcoins. Taler will only go up, it's an irreversible process," the authors of the crypto-taler said.

Also, developers say that they themselves do not influence the exchange rate and warned people against investments in crypto-currencies.

During the day, the value of the crypto-taler may change by 50%. The taler is divided into thousandths. In the future, when its cost rises sharply, users will be able to purchase small parts, as it is now happening with bitcoin. The total value of existing talers is about one million dollars.

The creators of the project confessed that it is impossible to control their brainchild: "If someone wants to inflate a bubble, we will not be able to do anything.

But we can meet with businessmen, integrate it into the economy, make communities, somehow show that the taler has other functions besides speculative ones."

"We are planning to make money not on the taler, but on our competences in the field of blockchain technology. This is a confirmation of our knowledge, skills, relevance in the modern economy. Our reputation depends on the success of the project," the developers said.

Now the taler, like other crypto-currencies, is mainly used for speculation. In the future, the team hopes that the traditional business will be able to work with the crypto-taler.

The transaction speed is still quite high in comparison with the bitcoin: its takes about five minutes.

The team compared the crypto-taler to the dollar: both cannot be used as a payment means in Belarus: you cannot buy anything for the American foreign currency, but they have value.