Digital currencies entered the big league of the forex market. Another cryptocurrency - BitCoen - developed to simplify transactions between Jewish communities will enter the market soon. The Jewish community decided to support the initiative of Russian businessman Viacheslav Semenchuk, as the BitCoen will comply with the Jewish rules.
For example, 10 percent of all revenue from this startup will be transferred to the community accounts, and BitCoen owners will be able to receive interest-free loans. The Jewish community was attracted by the fact that the new currency can solve several problems related to financial operations, as traditional currencies cause certain difficulties and do not conform to the Jewish laws. Of course, the startup is true to its Jewish roots. The new cryptocurrency will be controlled not by some kind of a board of directors or a group of developers, but by the Council of Six. The name itself imply that the currency has a promising future. Every member of the Council of Six is a Jewish representative and leads one of the directions: business, politics, finance, technology, public activities, and culture. Each of them will have one of six parts of the digital private key. One can even imagine them in black robes with lists of incantations in ancient Yiddish. The members of the Council of Six have to put all six keys together in a sacred room before voting on joint resolutions like limiting withdrawal of the new cryptocurrency.
The plan is to initially issue 100 million BitCoens. The currency will be based on the value of the US dollar, with each BitCoen token available for one dollar. According to the creators, more than two thousand stores and companies will be accepting the currency by the end of 2017 in Russia.
