It is proposed everyone in the case study community is gifted some free cryptocurrency. The idea is that this will act as a local stimulus package and encourage more free enterprise and commerce in the area.
The recommended local cryptocurrency exchange would act as a means for locals to convert their crypto into local currency and for locals to buy more crypto. Even if the rates of cryptocurrency adoption in the community reached 100%, it is highly likely that the community will have to trade with settlements nearby that still use fiat. This means having a local exchange is essential. It also empowers locals with a choice in deciding what they do with their free crypto.
TotalCrypto proposes that the local exchange be made the base of operations for participating cryptocurrency projects in the local area and recommends that it also meets the following functions:
- It serves as the crypto onboarding centre where all locals are educated about cryptocurrency and are credited their free coins.
- Local entrepreneurs would be given extra cryptocurrency education to encourage them to accept crypto as a payment method.
- The exchange could serve as the local crypto information centre. Any local could get free cryptocurrency information from exchange employees.
- The exchange would provide employment opportunities for locals.
- Data on the local population should be collected by the exchange and this could be shared with the academic community.