CaCoin: A Cryptocurrency for Children
Chapter One – Mining Technique
CaCoin is a cryptocurrency designed for children, in which Yun, the main character, is responsible for mining it. To earn CaCoins, Yun must solve maths problems of increasing difficulty, tailored to his ability, so that it takes him approximately 15 minutes to complete them. He writes these calculations by hand on a digital image. Each corrected and signed sheet of calculations is worth one CaCoin.
At present, the value of a CaCoin is 1:1 with a video game service I provide. In other words, 1 CaCoin = 15 minutes of playtime in Minetest, an open-source clone of Minecraft, where we are building a virtual democratic school.
The value of CaCoin is generated by the effort Yun puts into solving the problems, which limits its supply over time. I act as an intermediary, converting CaCoin into a real service (in this case, playtime). When I accept a CaCoin note, I record it on a ‘blockchain’ – an unalterable digital ledger where I also keep track of the balance in each wallet.
Furthermore, I am the speculator for this cryptocurrency. Currently, I store all the CaCoins mined by Yun in my wallet, hoping they will increase in value or that someone will accept them in exchange for services. However, the real value that is growing is Yun’s ability to solve calculations, which I consider to be the most important investment as a futures speculator.
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