Brazil: Building with BuildCoin

The most populous Brazilian state of São Paulo wants to improve its infrastructure. The engineers who hire them want to pay with their own cryptocurrency, the BuildCoin.

With an area of ​​248,222 km² and an estimated 45 million inhabitants, São Paulo is densely packed state – after all, it is home to the capital of the South American country, which has 1 million inhabitants.

To solve these problems engineers will develop projects that optimize the development of the state, paying particular attention to its feasibility. Special feature: engineers receive part of their payment in cryptocurrencies.

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BuildCoin is designed to create incentives

They are currently developing BuildCoin with US company, CG / LA Infrastructure. To test the project, São Paulo wants to crowdfunden studies for a lighting concept. If project is successful, initiators hope to attract international investors with planned BuildCoin. The hope for value creation is a sales incentive. In addition, by using BuildCoin, they want to create more effective and transparent payment options within the construction industry.

BuildCoin, which should run on the Ethereum Blockchain, will be distributed to the individuals who contributed the requests. Other participants in the respective projects should then decide by vote on the amount of coins.

BuildCoins should then be usable for other services within the BuildCoins ecosystem. These include, for example, market research or cooperation with other companies – whether this incentive offers incentives for engineers over the uncertain development of the coins remains to be seen.

In the spirit of decentralization, BuildCoin Foundation will not be headquartered in Brazil, it will be in Zug, Switzerland.

Brazil is not unfamiliar with Blockchain technology. In the construction industry, however, with  Bitrent was a possibility to organize real estate investments through technology.

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