This was a rejected article for the ConCoin project. If you don't get the point of these posts, read my introduction.
Since ConCoin has taken a hold of the black markets in the largest prisons in America, the founder holds a lot of power. Since it’s rise in popularity, the ConCoin founder has collaborated with prison authorities to hold the funds of notorious gang members. Due to his usefulness in the prisons’ war on gangs, he is under the protection of the United States government.
Why ConCoin Was Created
The intention of ConCoin was to create a neutral transaction medium between prisoners and their family members on the outside. Inevitably, this cryptocurrency had soon replaced toilet paper or canned fish as prison currency. Although internet usage is extremly limited in prison’s, inmates have been making transactions on the blockchain in order to transfer wealth inside, outside, and in between prisons. This makes it the most popular means of transaction between gang members that are separated in the penal system.
The State’s Role In Con Coin
Not only is the Department of Corrections on board with the cryptocurrecy, but also the administrative staff of 9 of the 10 largest prisons in the country. Transactions on the blockchain are always made public, meaning that suspiciously large transactions will not go unnoticed and may aid in investigating criminal activity.
Wardens and prison staff have praised the technological capabilities of monitoring prisoners’ financial transactions. Trading has mostly been anonymous with the older currency system that had evolved in the underbelly of prisons. Now transactions will be made fairly for both prisoners and with the supervision of the correctional system.