A Peach State Innovation and Technology Project

PLEASE NOTE,

AS AN INTIATIVE  LAUNCHED BY A U.S. BASED NGO,

PEACHCOIN (NS21) IS A DECENTRALIZED DIGITAL COMPLEMENTARY CURRENCY

AND

NOT RESTRICTED TO DOMESTIC USE. 

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INTERNATIONAL INDIVIDUALS, BUSINESSES, ORGANIZATIONS, AND COMMUNITIES 

ARE ELIGBLE  FOR PARTICIPATION IN THE PEACHAIN  INITIATIVE, 

BARRING JURISDICTIONAL RESTRICTIONS.

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To view where the PeachCoin digital complementary currency system is being used in your area,

please click on the state of your respective community.

PeachCoin

Ethereum Blockchain

Digital Complementary Currency

PeachCoin (Symbol: NS21) is a verified Ethereum ERC-20 cryptographic digital complementary currency and medium of exchange.  PeachCoin can be obtained in exchange for US dollars at an exchange rate of 90 US dollars ($90.00) per PeachCoin with PeachCoin having an exchange denomination equivalence

of one US One-Hundred dollar bill ($100.00) per one PeachCoin. 

As a complementary currency, PeachCoin can easily be used in fractional transactions, accepted at face value in peer-to-peer purchases and  exchanges by individuals, businesses, and municipal city governments. 

For instance, 1.2568 PeachCoin can be used and accepted

in an exchange for a $125.68 purchase.

Through the usage of a cryptographic complementary currency, we leverage the security, transparency,

and immutability mechanisms native to  

blockchain technology, making the technology ideal for complementary currency and commerce systems implementation by facilitating trade, commerce and records management.  Since all transactions occur and are recorded on the blockchain, it allows PeachCoin users to keep track of digital currency transactions without the need for central record keeping. 

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Individuals

Hat tip to the resources at Flaticon for the iconography

Businesses

Accept PeachCoin 

as a complementary currency for payment 

of goods and services provisions regionally and e-commerce. 

Municpalities

Utilize PeachCoin as

a complementary currency

in municipal

inter-fund activities and services to pay for activities that provide goods and services to other funds or city departments.

Accept PeachCoin 

as a complementary currency for payment of certain municipal fees 

and services,

establishing an additional municipal revenue source.

Let's Explain...

One may ask, if PeachCoin

is a complementary currency and exchanges

at an equivalence to national currency,

why isn't $100 US dollars exchanged for one PeachCoin? The 10% discount is part of the

US Dollars-to-PeachCoin exchange rate, which is consistent with the pricing structure of 

a complementary currency.  Nothing is being

earned from the discount.

Complementary currencies, such as PeachCoin,

are designed to facilitate economic activity in 

and have transactional exchange equivalence

to a country's legal tender, as this is the nature of

a complementary currency, to supplement

national currency .  With the exception of

PeachCoin (NS21) being cryptographic and

its subsequent implicit benefits , our

complementary currency structure is similar to Berkshares,  one of the nation's longest and most successful domestic traditional complementary currency models.   

For additional clarity, we reference the Berkshares transaction example as we found it exemplary in outlining how a complementary currency transaction flows.  We will walk you through a transaction of PeachCoin being utilized for a purchase.

A Simplified Example Transaction

For instance, you decide that you're taking the family out to dinner one evening. You go and view the community hub in which you're located on the PEACHAIN application and select the checkbox for restaurants to identify and highlight on the map, local restaurants in the area that

accept PeachCoin as a local complementary currency. 

You acquire one PeachCoin (NS21) at $90 and store it in your digital wallet. The 90 dollars ($90.00) that you exchange acquire one PeachCoin with the complementary currency exchange denominated equivalence of 100 U.S. dollars ($100.00) upon exchange.

When you have dinner at the restaurant , the total cost is $100. The restaurant accepts PeachCoin, so you pay the full dinner cost with one PeachCoin which has the complementary currency exchange equivalence of $100.00, through digital transfer to the local restaurant's digital wallet.  At this point you have essentially spent $90.00 dollars and received a $100 meal - an implied 10% discount afforded to the user by PeachCoin.  As for the

local restaurant owner, being that PeachCoin

is a complementary currency, it is treated as ordinary income by the IRS in terms of taxation and can be utilized by the restaurant owner to pay employees partially with PeachCoin or acquire goods or services from other local, regional, domestic, or virtual community merchants, professionals, and businesses that accept PeachCoin. 

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