Bringing Blockchain Transparency to the Republic of Panama.
Day I was amazing as we discussed the the Balboa Coin and the possibility of bringing a way for every Panamanian to profit from the Panama Canal. The authors are not endorsing it as a political platform, but simply proposing a possible path to be considered. The Whitepaper is “living,” being edited prior to and during the Panama Glass summit by the organizers, speakers and student helpers.
Balboa Coin (abbreviated [XBC] 1 ) is a digital token that captures the value of trade infrastructure like canals, roads, and ports. Though the long-term plan is to abstract and expand to cover a larger region, this paper will propose an initial model with only Panama and the Panama Canal.
By implementing a digital token for Panama Canal access, the canal administrators could save tens of millions of dollars a year in fees, reinvest a large portion of profits, and pay dividends to every Panamanian. Panamanians would receive a Universal Basic Income and universal banking services on their cell phones. Balboa Coin would allow the spender a discount and other advantages when paying for Canal access, incentivizing use by shipping companies.
