How is the “bitcoin” of beer created by Argentines

Entrepreneurs developed a token to help revive the gastronomic industry after the impact of the pandemic. The keys

The pandemic wreaked havoc on many economic sectors but, without a doubt, the tourism and gastronomy They were among the most affected. In this context, Mariano Sonzini and his partners recently gave a kick capable of giving a strong boost to an industry strongly impacted by the coronavirus restrictions.

Is about Application forma gastronomy-oriented cryptocurrency. According to Sonzini, “it is developed on the Binance Smart Chaineventually when it grows and has greater volume and liquidity the idea is to develop it on other blockchains”.

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It is a cryptocurrency that arises from the gastronomic community that aims to become a globally used currency where you can, for example, travel and know that what you have destined to spend on gastronomy can be paid in Pinta Token. It is to generate a crypto that is a currency of real transactional use on a day-to-day basis, “he adds.

The creator of Pinta Token began to study the crypto world in 2016. “At first, it was very forced because there was little online, unlike today. As a result of what we were learning with my partners, we began to do advice for a venture capital fund in Argentina that what he was doing was investing in technology startups,” he reveals.

Pinta Token seeks to be a stablecoin that trades at the value of a pint of beer

Pinta Token seeks to be a stablecoin that trades at the value of a pint of beer

“In the last year and a half we started to see a lot of startups that had a very strong focus on blockchain, crypto, metaverse, NFTetc. We realized that it is something it advances very fast. We began to do many things experimentally as a way of learning. I began to see how tokens were developed and then I decided to seriously create one, with its protocol,” says Sonzitti.

The group developed several experimental projectsuntil Pinta Token arrived. This is how Sonzini explains it: “Speaking with people from the gastronomic world, we discovered that they were thinking of doing something similar where the restaurants were the owners of the cryptocurrency that is issued from the decision of new gastronomic premises”.

“Although it is still in an experimental phase, it is working very well and we want to take it to a marketplace that works like a Rappi or an OrdersNow with cryptoin which you pay with Pinta Token and have all the Ranked Pinta Community Bars Worldwide. That way, if you go abroad, you stop thinking about what currency to take for the gastronomic part,” reveals the creator of this cryptocurrency.

The origin of Pinta Token is also linked to the need detected by Sonzini and his partners to facilitate access to the crypto world: “We think that the entering the crypto world with fiat money is difficultsince not everyone knows how to log into a platform, set up a user or transfer money from the traditional ecosystem to crypto”.

How do you buy the Pinta Token?

“So, with Pinta Token a little what is solved is that you have a decentralized P2P network with all the restaurants that are part of the community and, in this way, users do not have to create an account on the typical platforms but can buy Pinta Token directly in the bars of the community. You can keep that Pinta in your wallet or you can transact it on traditional platforms,” ​​he adds.

Sonzini drew on his own experience to put together what is now Pinta Token, “The first time I wanted buying cryptocurrencies was in 2017 and it happened to me that from the day I wanted to buy until the day I was actually able to do so It’s been like a week. I ended up running into a guy from Colombia in a restaurant, and the truth is that he was divine and everything came out perfect, but I kept asking myself: ‘What am I doing?'”

“In this way, a little replicates that situation of the buy P2P but be careful: you go to the restaurant with your credit, debit or cash card, pay and they transfer the Pintas to you,” he says.

Sonzini also remarks that “although today Token paints, it has a much lower price because it is still not being used in bars and restaurants, because we have to reach certain parameters of liquidity, volume, price and users to be able to start using it, the idea is that it be a stable cryptocurrency Or at least have a clear reference value. The bars and restaurants undertake to give you a pint of beer in exchange for a Pint Token. In this way you have a value reference which is that Pinta Token will always be worth what a beer is worth”.

The team also created their own wallet, which is called the Pinta Wallet. “It’s made specifically for Pinta Token and now we’re making it added stablecoins like nuARS (which trades 1-1 with the Argentine peso) to make it easier to start using Pinta Wallet and for people to start having a easy transaction experienceprior to Pinta Token having a stable value,” explains Sonzini.

The expert assures that the app “is very easy to use, has three buttons And it is without custody. that is, we we don’t have the power over currencies but rather it is the user himself, which is one of the benefits of the crypto ecosystem that we highlight”.

At the moment, within the community there are 12 affiliated premises. “As they goincreasing the bars there is greater emission because there is an initial liquidity for the first ten and then the issue is reduced. The idea is that it is a deflationary token“says the founder.

Sonzini speaks of three stages for the consolidation of Pinta Token:

  • “Has a part of initial adoptionwhich is more speculative until it becomes a stablecoin”
  • “The second part is already stabilitywhere will function effectively as a stablecoin”.
  • “Once the adoption is insured, you can beer price take off in case the demand for Pintas grows above the supply, which is limited”

The evolution of Application form was faster than expected: they began to think about the idea in March 2021 and to May they had already mined the token and they told it to their acquaintances in the gastronomic world. It was at the time that the restaurants and bars were reactivated.

Today, Sonzini assures that the objective for them behind the project goes far beyond business. “The idea is not that Pinta Token has a income for the team but main business is for restaurants who are part of the community. From the moment they join, they receive a bag of Pinta Tokens that they can use in advance for users,” he advances.

“We’re also negotiating with some of the suppliers largest beer companies in the world so that they accept Pinta Token as a means of payment, then the bar can buy its raw material with that,” he concludes.

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