The PEACHAIN Network
The PEACHAIN Network is a decentralized progressive web application (PWA) incorporating Ethereum blockchain technology through Infura currently under development by Peach State Innovation and Technology. The application is a scalable, decentralized social-commerce network comprised of individuals, local businesses, municipalities, and communities that use and accept the non-exclusive complementary cryptocurrency PeachCoin (Symbol: NS21, Technical name: NewSouth21Token), an ERC-20 Ethereum complementary currency and medium of exchange.
Through PeachCoin (NS21), we seek to encourage local community stimulus and development through the use of innovative technology. Whether through commerce exchanges or municipal inter-fund transfers to facilitate operations, the individuals, businesses, municipalities, and communities that choose to use and accept PeachCoin as a complementary currency are making a responsive commitment to support, expand, and sustain their community economies.
The utilization of PeachCoin as a local complementary currency could ensure that a certain amount of capital would remain within the state's communities, potentially alleviating the economic disparities that are affecting some of the state's communities while potentially providing economic stimulus in economically under-performing communities. Through the PEACHAIN Network, PeachCoin (NS21) and the initiatives of Peach State Innovation and Technology, we seek to offer a solution to economic stimulus in communities by promoting economic activity through the commerce network platform, leveraging blockchain technology and a non-exclusive complementary cryptographic currency to connect communities with goods, services, resources, and monetizing activities for community improvement. These economic concerns were highlighted, leading to the creation and establishment of the House Rural Development Council by the Georgia House of Representatives in 2017.
The PEACHAIN Advantage
Through the use of a non-exclusive complementary cryptocurrency in the PEACHAIN application, the PEACHAIN network leverages 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 exchange users to keep track of digital currency transactions without the need for central record keeping.
Anyone in the PEACHAIN Network may spend or accept PeachCoins for payment with the acceptance terms set by businesses, merchants, and retailers---for example, acceptance payment terms can be "50/50" or 50% U.S. dollars and 50% PeachCoins (NS21). PeachCoin (NS21) can be obtained in exchange for U.S. dollars at a rate of 90 US dollars ($90.00) per PeachCoin (NS21). PeachCoins can be exchanged to pay for the goods or services offered by participating community businesses. For instance, 1 PeachCoin can be used for a $100 purchase. Also, since PeachCoin is a complementary currency in cryptographic form, it is divisible and can make micro-payments. For example, 0.10 PeachCoin is equivalent to $10, 0.01 PeachCoin is equivalent to $1, 0.0025 PeachCoin is equivalent to 25 cents or 0.25c, etc.
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, as all currencies have various paired exchange rates. Complementary currencies, such as PeachCoin, have transactional exchange equivalence to a country's legal tender, as this is the nature of a complementary 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.
For instance, you decide to that you're taking the family out to dinner evening. You would go and view your community's or other locale's hub on the PEACHAIN application and select the checkbox for restaurants to identify and highlight on the map, local restaurants in your community area that are a part of the PEACHAIN Network and accept PeachCoin as a local complementary currency. You acquire onePeachCoin (NS21) at $90 and store it in your digital wallet . The 90 dollars ($90.00) that you exchange acquire one PeachCoin (NS21) 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 - a 10% discount afforded to the user by PeachCoin. As for the local restaurant owner, being that PeachCoin (NS21) 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 or state community merchants, professionals, and businesses that accept PeachCoin.
The PEACHAIN Application
The PEACHAIN Application, a web 3.0 enabled, flip-style user interface design with "retro-nostalgia" appeal, consists of 204 communities or "hubs" that comprise the network with each having its own community profile page. Each community's profile page or "hub", is highlighted with a community "birds-eye" traffic overview powered by Google Maps underscored by nine community "blocks". Each "block" plays an integral role in the systemic objective of the PEACHAIN application by: 1) serving as a portal promoting social and commercial engagement by fostering local community economic development and activity, highlighting channels of acceptance of PeachCoin (NS21), a cryptographic complementary currency and medium of exchange, whose utilization as such, is non-exclusive to the application, while 2) providing responsive, local community social networks that give local and hyper-local presence, connection, community focus and highlights, through user content contribution oriented tools.
PEACHAIN App Features
News By You!™, is the user contribution block integrated into the PEACHAIN application that gives communities a voice and presence by affording citizens of their respective communities the ability to contribute and share local and hyper-local stories, interests, and events relative to your community users of the PEACHAIN Network.
Local News is the block for which users of the PEACHAIN application can view and keep abreast of the latest local community broadcast affiliated news live streams for communities and respective viewing areas.
Community Soapbox is the community social network application component where users can keep up with friends, associates, share posts and create discussion boards, where community members can initialize and topics and subjects that are community interest for the purpose fostering local and hyper-local community social engagement. If you have anything that you care to inform or "cuss and discuss" relative to community issues, this is your block!
Current Weather Forecast powered by Dark Sky, provides users of the PEACHAIN application with the latest up-to-date local and hyper-local community weather forecasting, highlighting down to the minute precipitation forecasts and weather warnings along with 10 day extended forecasts, keeping communities and users informed of immediate and extended weather conditions by which they may be impacted.
We Accept PeachCoin highlights the local community PEACHAIN merchants, retailers, professionals, and trade businesses that accept PeachCoin (NS21) as a complementary currency. Users simply select the category of providers that accept PeachCoin and the vendors will populate on the corresponding community map with pop-up details relative to the vendor/ business location, web address, digital wallet and PeachCoin (NS21) acceptance terms. If you're a business interested in listing with the PEACHAIN Network and accepting PeachCoin (NS21), select the We Accept PeachCoin link on the block, fill out the form, and we'll upload your details.
Get PeachCoin provides the details on the various means at which the complementary currency PeachCoin can be acquired. PeachCoin (NS21) can be acquired at an exchange of $90.00 USD / 1 PeachCoin (NS21). As a complementary currency, 1 PeachCoin (NS21) has exchange equivalence to the One Hundred dollar bill ($100.00) in the PEACHAIN Network.
Earn PeachCoin is the block for which individuals can view the means (posts) in which PeachCoin (NS21) can be earned. PeachCoin (NS21) can be earned through Peer-to-Peer (P2P) transaction agreements, freelance solicitation offerings and community job postings with the compensation terms structure provided by the solicitor (i.e. $200.00 solicitation 100% PeachCoin or 50/50 PeachCoin/US Dollar split). All transactions and exchanges must include the acceptance of PeachCoin (NS21) as a complementary currency. PeachCoin can also be earned through the Georgia-5K™ Initiative by Peach State Innovation and technology, detailed on online portal, in which successful participants will be compensated with 5 PeachCoins (NS21), which has the exchange equivalence of $500.00 USD.
About Us is the block where PEACHAIN users can learn "quick facts" about each PEACHAIN community in terms of demographics and uniqueness in identity.
Meet A PEACHAIN Community is the block that affords PEACHAIN users of one community to discover and the explore the commercial and community offerings of other PEACHAIN communities. If you're planning to visit a neighboring community and want to view the PEACHAIN businesses that accept PeachCoin (NS21), simply visit the community's portal. If you are curious as to what opportunities and items are available for PeachCoin holders to acquire in other PEACHAIN communities, go to the community's site and explore!