The first digital currency launched by the North America Procurement Council will the AMERO, intended for North America, Central America and the Caribbean.
The North America Procurement Council will be deploying its digital currency for North America -- the AMERO, in early June.
The name AMERO was inspired by the North American Monetary Union and Amero currency first proposed in a white paper in 1999 by Herbert G. Grubel of the Frasier Institute in Vancouver, Canada.
Professor Grubel is an expert in economic policy issues and his arguments for a North American Monetary Union were sound and based on extensive experience and knowledge.
The proposed North American Monetary Union and Amero were never officially discussed at the government level but between 2005 and 2009, Mexico, the U.S. and Canada held discussions under what was called the Security and Prosperity Partnership (SPP). However, the SPP did not result in any treaties or agreements and the Obama administration did not continue the discussions.
The NAPC's AMERO is not intended to suggest or promote a North American Union but will merely function as a medium of exchange parallel to national currencies.
Dozens of companies have already signed up to accept the AMERO for at least a portion of their sales and in exchange will receive free AMERO when first released and more with each sale in AMERO for the first three months after release.
The initial value of one AMERO is being pegged to one U.S. dollar, but it is intended that the value of the AMERO increase steadily.
The AMERO is substantially different from other cryptocurrencies such as bitcoin. It has been designed to be used for commerce between government and business and businesses-to-business and avoids many of the problems with other cryptocurrencies.
Unlike Bitcoin, the AMERO does not have to be mined and is centrally managed. It is also virtually theft proof and not suitable for money laundering or other criminal activity. Transactions will take at most seconds, instead of the hours that a bitcoin transaction now takes.
The AMERO will benefit businesses by providing:
- More business opportunities
- Conservation of capital
- Higher profit
- Very low or no transaction fees
- Simplified cross-border transactions
- Potential increase in AMERO value
- Ease of use
- Hedge against declining U.S. dollar
90% of the initial 500 billion AMERO created will be given as grants to government agencies, non-profit organizations and for R&D in Canada, the U.S., Mexico, Central America and the Caribbean. The grants will be used for a wide range of development and democracy projects, but mostly for climate change adaptation and for the development of a new more humane and sustainable civilization.
Grant applications will be accepted starting April 16 at www.AmeroGrants.org.
The NAPC has partnered with the International Digital Monetary Council (IDMC), a non-profit organization which is developing a sound policy and regulatory framework for international digital currencies that will meet the needs of government and business. Once the standards are finalized they will be promoted to various regulatory agencies.
A number of AMERO transanctions are already scheduled and the number of vendors signed up to accept the AMERO is growing rapidly.
Sign up now to accept the AMERO and get up to 2,500 AMERO free and matching AMERO for every transaction for the first three months after launch. Just login at BidOcean.com, NAPC.pro, or Trillions.biz, click on Account Manager, then on Digital Currencies and select your level of acceptance.
Original post available here.