News Column

TON Coin as Virtual Currency -- Long Way To Go

September 3, 2014



LONDON, Sept. 3, 2014 /PRNewswire/ -- With the increasing development of the Internet, virtual currency has started to creep into different levels of social living, so the Internet requires a dedicated currency to meet these development requirements. Although no official product has appeared, it seems natural and inexorable to generate virtual currency. Lyndon LaRouche, a well-known economist from the United States of America, has even predicted that network virtual currency will be recognized officially to some extent in 2020 and will become legal tender. If a "generic protocol" on money is available, all independent financial systems can be connected like SMTP connects all mailbox systems. If so, our payment will be as simple and convenient as sending a mail at any time and place. Regardless of currency type, payer or payee, converted currency and time, a single command can complete the payment.

Such Internet protocol on money transaction has occurred, namely the RTXP protocol (Ripple transaction protocol). Like SMTP, the Internet "payment protocol," which was developed by a company in Silicon Valley, CA, is free and open-source, does not belong to anyone and is not controlled by a central organization. Now this project is being invested in by some well-known investment organizations such as IDG Capital, Google Venture and Andreessen Horowitz. The world should be ready to accept the development of financial systems on the Internet. Now that virtual currency is a valuable area of focus in the world, virtual currencies such as bitcoin, Litecoin, toncoin and yb coin will be mainstream in no time. 

Although virtual currency is only applicable to the virtual Internet world, any virtual thing should be based on the reality, for example only if a complete mechanism is established in real society, then virtual currency can perform basic functionalities in the virtual Internet environment. Most virtual currencies such as bitcoin and TON's coin have combined with the entity network. To be recognized by more online and offline network entities, these virtual currencies should circulate in our lives. As a civil virtual currency, now the TON's coin can avoid purposeful control of partial adventurers to a great extent and prevent early control, profiting from short-term speculation and regulatory control from governments. To realize true civil circulation, virtual currency should come from the network, circulate and operate in the network and succeed in the network.


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Source: PR Newswire Europe


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