Distributed database that is used to maintain a continuously growing list of records, called blocks
Russian businessman Vyacheslav Semenchuk announces a kosher cryptocurrency Bitcoen (in tune with "coen" - the name of the clergy in Judaism), which is designed to simplify the calculations within the Jewish community. The initiative of the businessman has already been supported by the chief rabbinate of Russia.
The project plans to produce on its own blockchain 100 million tokens Bitcoen $1. The currency will be released to the market gradually, and 10% from each edition will come in a special Fund, which will transfer cryptocurrency to the Jewish community.
Semenchuk also adds that tokens will be accepted at some shops and restaurants, not just kosher. Thus, he explained the possible interest for non-kosher stores in support of the cryptocurrency:
Want a new audience in the form of effective Jews – accept cryptocurrency Bitcoen.
The project is under control of the “Council of six”:
Each of them [Board members] respected in the Jewish community, representing its direction (business, politics, Finance, technology, public work, culture). Each Board member will have one part of the digital private key. Only adding 6 keys together in a special room and voting, the Council may adopt joint decisions.
Is an open-source blockchain-based distributed computing platform featuring smart contract functionality, which facilitates online contractual agreements
According to Semenchuk, the Council has only two functions – solutions on the issue of currency and how worthy is the project team bonus 5 years after the start Bitcoen. The key is divided into six parts, while in other blockchains like Ethereum, or Waves key can belong to one person, argues Semenchuk.
Soon Bitcoen also plans to hold a pre-ICO and ICO.