• On the last day of 2018, digital currency Maricoin was officially launched in Spain. It will be available in approximately 25 commercial establishments and distributed throughout the country.
• In the short term, the project hopes to raise one million dollars which can then be used for the financing of Gay Pride Day 2022.

Maricoin is the first cryptocurrency designed specifically for LGBTQ+ people. The company will start operations December 31st 2021. The Spanish-based digital currency seeks to empower and offer new financial options for the community.

Juan Belmonte, one of its promoters, hopes that the cryptocurrency will soon become one of “the main means of payment used by lesbians, gays, transsexuals, bisexuals, intersex, queer and other members.”

During the pilot plan, Maricoin will be able to be used in some 25 ‘LGBTQ+ friendly’ establishments, including bars, restaurants, beauty centers and bookstores in several Spanish cities such as Madrid, Barcelona, ​​Ibiza and Gran Canaria.

The Crypto To Fight Homophobia

This project was created in October 2021. It has been promoted and commercialized since then. ‘Maricoin’ was developed to be non-profit, in collaboration with associations of the collective in the fight against homophobia.

The Maricoin, which was created in Chueca as a populous LGBTQ+ area of Madrid was officially presented to the public on December 24th.

“It would give us power in this globalized and capitalist world. We will be able to help people who at this moment do not have the same rights as we do,” beamed Belmonte, a marketer of aesthetic products.

“It will be a social, ethical, transparent and transversal means of payment with which you can operate in the main exchanges (cryptocurrency exchange platforms) and consume in your favorite establishments with discounts,” explained its developers and promoters.

Among the promoters of the community’s cryptocurrency is businessman and academic Francisco Álvarez Cano. According to Forbes magazine, Álvarez Cano managed to have the cryptocurrency accepted in the Algorand Miami Accelerator program, which supports startup projects.

Flipside

• It’s a non-profit organization, but the promoters are hoping to raise at least a million dollars.
• Fundraising will go towards financing the Gay Pride Day Celebrations in 20 Capital Cities around the World, 20 of which are located worldwide.

What You Need to Care About

• Spain is Europe’s largest country that has a non-heterosexual population. Bisexuality is claimed by 6% of Spanish citizens, while gays are declared by 5% and pansexuals by 1%.
• La Maricoin, which is a compound from the words “marico,” meaning gay and “currency,” has great space through which it can make its way into the industry, if it does indeed turn out to be a serious project.

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