Little over a week ago, a part of the blockchain went Vegan and nobody is really talking about it. The 28th of February 2018 saw the launch of a new concept ‘Vegancoin’. The concept ties in with a decentralized community known as Vegannation. The idea is simple, since cryptocurrency has a known beginning and its journey can be traced, the Vegancoin has been designed to give vegans more transparency when it comes to spending. By using a cryptocurrency instead of traditional money, the origins of all elements within the transaction can be located.
This comes after a recent discovery that many ‘new’ plastic cash notes contain polymers that derive from animal products. Also, in terms of real money, there is nothing to prevent that money being used to purchase animal products before being passed on to a vegan’s wallet. By using Vegancoin however, users can be 100% certain that the currency has not had any involvement within any animal trade, be that for purchasing meat, dairy or even for the funding of animal cruelty rings. Not only that however, Vegancoin has been designed to be used in the trade of ‘ethically sound’ items, this means that not only do users know the currency has no involvement with animals, but moreover, the currency has some benefits within its use. By creating an ethical and sustainable marketplace, Vegannation hopes Vegancoin becomes a catalyst for a new, more ethically forward online society. According to Inverse, the CEO of Vegannation Isaac Thomas said that Vegancoin “effectively creates an independent nation of vegans, who support one another and ensure their money is spent only on ethically agreeable items”. I think this is quite a noble cause, especially in light of the environmental debate surrounding the carbon footprint of currencies like Bitcoin. With that in mind however, it would be interesting to see if Vegannation do have a plan for mining their coins in an environmentally sustainable manner, if so, this could actually spearhead a new, clean environmental movement within the blockchain. If not, then isn’t it all a little bit hypocritical? Featured Image Source: PixabayInvestment Disclaimer