The MemoryCoin community announced a few days ago that any charitable organization who wishes to become MemoryCoin’s Official Charity, can publicly declare itself a candidate to receive a 1% donation of all coins mined; as of January 8th, this amount of MemoryCoins translates in to about a few hundred dollars a day.

Like other cryptocurrencies, MemoryCoin promises to empower the economically and financially marginalized, allowing individuals to participate in the internet economy even when they live in countries where credit card companies and PayPal don’t operate. Individuals can store and transfer wealth with just a memorized pass phrase.

Cryptocurrencies like bitcoin received a lot of media attention last year after many early adopters became millionaires, but with the creation of new, faster and specialized chips, mining these other cryptocurrencies is no longer accessible to the average user. MemoryCoin is different, said MemoryCoin’s CMO. About MemoryCoin Community members claim that MemoryCoin decentralizes currency mining. While Bitcoin mining requires the use of expensive, specialized hardware, MemoryCoins are efficiently mined on ordinary computer hardware like PCs and laptops. Anyone can download a program and start mining MemoryCoins.

Decentralized mining is said to ensure:

a wider and fairer distribution of the currency

easier to obtain anyone with a computer can do it

participation for the economically marginalized individuals don’t require an account with a bank or exchange anyone can mine new coins with a PC by consuming electricity MemoryCoin Grants



A member of the MemoryCoin support team said that the programmers built MemoryCoin With charity in mind integrating a special sequence in to the cryptocurrencies algorithm which ensures that 1% of all newly mined coins are earmarked for charity, these charities are voted for by MemoryCoin holders. The destination of another 5% of all newly mined coins are also voted for by MemoryCoin holders, these coins are used to finance the MemoryCoin infrastructure, and other tasks including marketing, programming, and support, thus ensuring the growth of the MemoryCoin ecosystem.

To learn more about MemoryCoin, please visit http://www.memorycoin.org