With PrideMonth in full swing and many LGBT events happening globally this summer, it's a great time to have a look at a cryptocurrency that has 'started the new LGBT Revolution': PROUD Money. A coin you may still know by its old name, GAYcoin.

In May I ran a poll on Twitter in which I asked people if they would invest in a 'gay' cryptocurrency, and the results actually met my expectations.



The response was small but it shows many would blindly invest. Still a lot of people wonder why they should, including yours truly. Quite a challenge for a product to convince the market why it is necessary.

The 'proud economy': a $4.6 trillion niche

The LGBT economy as a whole has a value of around $4.6 trillion, certainly an interesting niche market. But PROUD Money has a mission that's beyond mere numbers. It aims to become the financial lubricating oil for the global LGBT community. On the colourful website it says: “The LGBT Revolution 2.0 has begun, and it has its own currency”. This quote supports the goal, which is to build a global digital financial service network of merchants, businesspeople, artists and craftspeople that share the same values: the 'proud economy'.

PROUD Money Accepted Here

PROUD Money's goal is to be a currency that will be represented across the LGBT community and market. The team is busy working on retail integrations, consumer incentivization programs and re-loadable PROUD money Debit cards, to have the PROUD Money Accepted Here sign on a thousand storefronts by the end of 2018.

Staking and bonuses for SatoWallet users

One of the most popular mobile wallets, SatoWallet, added PROUD recently. This wallet enables you to stake PROUD with 20% interest annually. To celebrate the integration, every wallet with 1000+ PROUD will receive an extra 10% bonus per month for the coming three months, and maybe even longer. Get your SatoWallet and add PROUD coin.

Some technical specifications

Hybrid PoS / PoW system (before / after)

No transaction fees

Block time 1 minute

Block size 50 MB: up to 216 million transactions per day

Stake in mobile wallet

20% interest annually with online unlocked wallet

Max supply 10 billion of which 50% used for charity

Roadplan 2018

The team has no whitepaper available at the moment, but there's a 2018 roadplan on the PROUD Money website with a few courageous plans to accomplish:

Dating app (on the way)

Re-loadable Debit cards

Capital investments in LGBT businesses

Philantropic funding of LGBT agencies

Check out the PROUD Money video