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The 21st century presents a diverse set of challenges to humankind, such as technological advancements and their ramifications of climate change. Thousands of scientists are warning about climate change, and cryptocurrencies continue to claim a spot in the headlines. Their rise is imminent, but it’s also important to pay attention to their impact on the environment; climate change and environmental protection are key to a long-term sustainable future. The Green Voucher (SANUSCOIN) offers a harmonious solution to an otherwise pressing question.
Recognizing this conflict of interest between the future of cryptocurrencies and sustainability, Ewald Rieder’s Bolzano-based company SANUSLIFE International GmbH developed its own token in 2018. Rieder stored the SANUSCOIN (SAC) exactly 777,777,777 times on the Bitcoin blockchain in March of 2018.
“With the Bitcoin blockchain, we currently have the measure of all things in terms of security and transparency due to its familiarity and decentralized structure. Therefore, there was no question in my mind that we absolutely had to bring our token onto this blockchain as well,” said Rieder.
One-seventh of these coins are distributed each year in exchange for SANUSLIFE’s cashback credits. Additionally, a network of companies, shopkeepers, and end-users has been built over the past few years, and they will become beneficiaries of the payment utility token’s centralized storage.
An app will connect the ecosystem that enables tokens to be used as an e-voucher within the system, and the tokens will be held by a custodian bank. When a transaction occurs, the central coins will be sent out within seconds.
This is how the company aims to connect the economy with SAC. Even as the company develops a versatile coin, it has vowed to stay true to its commitment to environmental protection.
The Green Voucher and SANUSPLANET
As Rieder highlights, the company focused on ensuring that the system operates within the regulatory framework right from the beginning. In addition to adherence to money laundering laws, the company has also expressed its commitment to transparency of transactions and having purchase limits in place.
More importantly, however, SANUSLIFE also prioritized connecting the tokens with its core values of protecting the environment. “With all the new tokens coming onto the market, it was important to us from the start to apply seriousness and regulation. This means not only respecting all regulations such as money laundering laws, but also introducing purchase limits and presenting transactions in a transparent manner,” Rieder explained.
“The topic of environmental protection and nature conservation is in our DNA at SANUSLIFE, so we also wanted to connect this topic with our own coin,” he added. SAC earned the moniker “The Green Voucher” because of its association with the SANUSPLANET Foundation, which contributes towards social and environmental protection initiatives across the globe.
With every transaction that uses the payment utility token, a certain amount is added to the foundation’s pool. Magdalena Gschnitzer, a human rights activists and experienced environmentalist, is tasked with the responsibility of selecting projects for SANUSPLANET, and she has already collaborated with the foundation on a few projects.
The way forward for SANUSCOIN
The SAC token was previously only available through LATOKEN. Thanks to the licensing from VQF in Switzerland, the tokens can now also be purchased from the company’s website in packages of €300, €600, and €900. The option to purchase from the website removes the complexity of having to use third-party exchangers, making SAC purchases easier and more secure.
Once a buyer makes the purchase, the coins are remitted through a decentralized Bitcoin transaction into their digital wallet, which is called SANUSWALLET. The SACs continue to be stored on the Bitcoin blockchain, where every transaction can be tracked using SANUSCOIN Explorer. SANUSLIFE is also working on expanding the SANUSCOIN ecosystem through its own app, the SANUSAPP, and a payment method named SANUSPAY, which are expected to launch in 2022.
“Behind the planned decentralized and centralized storage are so many mechanisms, so many advantages, and so much excitement and fun that the economic and crypto worlds will merge at breakneck speed. And who knows where the coin price will go by then,” said Rieder.
SAC combines decentralized and centralized storage and offers a payment method that bridges the gap between the economy and the crypto-verse within SANUSLIFE’s ecosystem. SANUSLIFE’s innovative take on cryptocurrencies works as an inspiration for other companies that want to consider exploring the possibility of their own cryptocurrency, and it affirms people’s belief in crypto as an industry of the future. There are already more than 80,000 people that are a part of the ecosystem, and this number is growing at a fast pace.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.