As a team of Portuguese cryptocoin believers, we decided to launch CryptoEscudo (CESC, short form), a coin based in cryptography, that uses complex mathematical problems to achieve a high security level. A coin that is not controlled by any bank or government, a coin that is created, sustained and controlled by everyone and is transparent and public to everyone.
The name of our old currency "escudo" is not intended to represent the desire of returning to the past. It represents a reminder of our path to show us and guide us on a new and better future.
Our idea is not political. Our idea is simply a technical solution emerged from the world of the cryptoeconomy. Considering the financial problems we nowadays face in our country, we propose this:
Let's make our new money. Created by everyone and for everyone.
Because cryptocoins have the power to influence and can provide mechanisms to a highly developed economic democracy sustained on transparency and reasonable privacy, helping a substantial part of the economy to overcome some of the common limitations of the traditional financial system.
Because global cryptoeconomy is developing fast and it represents an important opportunity to boost national economies, being a large part of them under more or less severe financial crises. Several countries have already seen individual initiatives of national cryptocoins, like Iceland, or Israel, for example.
Because and additionaly to all said above, we see in the cryptosystem, if well planned and largely accepted by citizens, a unique opportunity to solve a serious problem for our country - the national debt problem.
Create an international community of CryptoEscudo users (people and companies). People will be able to either start using CESC as a new form of payment (instead of fiat currency or credit cards) or to use CESC as a new saving product, if they wish so. This will have a progressively positive impact on CESC value.
It is expected the progressively growing use of CESC and everyone's interest around it makes the value grow until it finally reaches the desired nominal value of 1000€ = 1CESC. We think this can take 5 to 25 years to reach.
Distribute part of the total CESC by the Portuguese people (about 15 000 000) living in the country or abroad. 15 CESC will be given to each Portuguese person who can prove his/her nationality and has not received them yet according to our records. This is expected to be a long and complex process that shall begin on April 25, 2014, a simbolic date and a national holiday known as the "Freedom Day", when a military coup in Lisbon changed the authoritarian regime into a democracy. We think this progressive distribution to the people will start to develop a growing interest in CESC and also in its use.
Achieve within 5 to 25 years a growing nominal value for CESC until it reaches, at least, 1000€. Appreciation of CESC shall be enough to pay our national public debt, which is about 220 000 000 000 Euros at the moment we are launching CryptoEscudo. This makes our national debt per person greater than 20 000 Euros. CryptoEscudo intends to use the global market's behavior to generate and appreciate the necessary cryptorichness to put an end to a serious problem that affects us all as a nation. Part of the total CryptoEscudo available in the network will be reserved for this purpose.
CESC features make it the most interesting national coin project for the non national citizens.
This project was designed to create a total of 1 000 000 000 cryptoescudos (CESC). 45% of this amount is premined, but only a small part is for short term usage/distribution. Premined coins have 3 specific goals:
Kept in reserve.
Shall be used to pay Portuguese national debt when 1 CESC reaches the value of 1000€, which can take several years to be achived.
Premined addresses listed below.
CT5AhqZucvsyDJMbP8NUE7U3ZGJt9qicYe Cbee8WJoPPATwmXXUcjYd1XfZAspXDafs9 CcwjWAWASZ8vRk2Q77F3HjdocejhLr3MdW CXn78mD5214wrwpgtpgT2zkMPJxHiKqQtD CZbu3LHzPksQivUnzd6V4izPirBKpbCGBN CfEs9xruP7PqPNKJzAiRXkja3gzavkSWmz CHss398dhutRTHbyWXfsyN161hY5PyJFBU CQsm9ingqudJkSCHB2Rn7HtFpTVCHUEvjd CUkya84Cg7g61FrPHbThUHoVCVhiNnLpYv CePzxY28yAj7TpZdmBkhpeN2c46umDH9Js
Distributed among all Portuguese.
Starting on April 25, 2014, each Portuguese will receive 15 CESC after presentation of an ID document.
Premined addresses listed below. CM43AGWsTLViY4XpVjBS5aj9LPqHXJj6z9 CfFoogfb39jnriaE6jAnq1hYqnqrsvguwa CMmJHLRcf6HfRRejQCvg9x8cybYYE5vF7Q CVh9CesqGjeaHEsaxMoqqZ1aiyC5ucEYN9 CLJLkvqfWrFFxXvRUhBJUwnqDjtTuxsAWx CMVeqXwYfmjmh9KguxK7qgHcxWT76sKhzW CPuxmdmboYHNhfepgxBQBtoC3jjZSCnGJN CQ5LpMnTBxi9jtxhG26UhFWkkNRf3Ajyv9 CVWEvsAKaVkWsJ8vnW1nudbHpKzgEuQP3E CRNv2CD4d5qXrtmG9183KQw8gTmfVmYunP
Project execution and support.
Will be used to promote, develop and maintain the entire project in every possible ways during the following 25 years.
Premined addresses listed below. Cdr5u6Cn3aSzyVenhoPhWAuv4kmvGT37sG CKL6sTnFBuRQNTXirWXrEZ9uETibZr3dSB CcUdBg96QbX2yNkscQFu3q3CsC1ByqEAbv * CJidiHmzk63LcSwamhZnD5MoFvmGQmionN CeDDNdu7nTZuMsmrRpNp4mp8rReKFpNkon CHBN1od4nCqtAoyNmQAGAnRPGWs89gF19R CXq3iFu2MNWac8korNa2YR5itEdGE3mSVV CR8jKg88SUJNKxx33VuEo6TAbs6w9aMG6e CQEbVh3n8MKQr3rfSJ2sHejAoFFH3GPfxJ CXCXn2H9KJtTgMVNQJ8o7danWgxMgrnUNu
Available on CryptoEscudo network to be mined during the following 20 years, for anyone who wishes to.
Share this idea and use CryptoEscudo.
Start by downloading the wallet - the needed software to store your coins.
After download completed and with an internet access, your wallet will start to synchronize with CESC network in order to be ready to mine new coins. By trying to solve complex cryptographic problems, your computer will sometimes be able to claim for yourself a new generated block of CryptoEscudo. Some other times, other CESC users, also connected to the network, will claim for themselves a new block instead of you. Think of this process like the equivalent of printing fiat currency.
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