Why the Blockchain?
The basic idea behind the AmigoCoin Ecosystem is to provide users the opportunity to trade on
Amigo Tokens with one another and to exchange them for goods and services from the respective
merchants. The systems need to be able to do this in a frictionless, yet verifiably secure way. As
the Amigo Tokens will have real value, it is essential that it will not be able to copy or double
spend them. Another requirement is that Amigo Tokens should have the ability, if the merchant
chooses so, to create verifiably unique and rare tokens. Blockchain technology and its successors
provide the solution to create a system which fulfills these requirements.
People will need to be able to exchange the Amigo Tokens with a standard medium of exchange.
This medium of exchange will be the AmigoCoin. Besides being able to trade Amigo Tokens into
and out of the Amigo Wallet and Ecosystem, holding AmigoCoin gives users extra functionality
like being able to receive unique Merchant Tokens or AmigoCoin promotions using the Amigo
Deal Alerts (ADA's). The Amigo Ecosystem also provides merchants value in the form of collected
metadata and making these available for them in exchange for AmigoCoin, while also doing this
in a verifiably secure, frictionless way where it is possible to see the non-reissuable current supply
Users will know that they are the actual owners of these coins and the only ones able to
spend them when they hold the keys in their wallets. Blockchains, such as Ethereum for AmigoCoin
and private blockchains for Amigo Tokens, fulfill all these requirements, while also making it
possible to create an entirely Decentralised Exchange, or DEX, at a later stage.