A young team of developers has created the first cryptocurrency for massive use in Argentina and Latin America. The cryptocurrency allows individuals and retail stores that use it to easily exchange money just with their smartphones. The developing team has decided to call this cryptocurrency ApperCoin (APC$).
The first Latin American cryptocurrency for daily use is now operative in more than 45 stores in Venado Tuerto, a city of 70,000 inhabitants and located in the Santa Fe province in Argentina. The team behind the cryptocurrency is also working in order to expand the influence of the virtual currency to San Nicolás, in Buenos Aires province. The expect to have more than 20 developing groups in the country before 2019.
Angelo Antonelli, one of the leading developers, explained that in order to use ApperCoin the user must download a special wallet. Once he has it, he can start spending them at any store that accepts it. Transactions are very fast (less than 10 seconds) and there are no fees associated with them.
About the first results, Antonelli explained:
“We are growing very fast. The application exists since a very short time, but the first results are auspicious. With this application, in Venado Tuerto, you can buy goods or services in over 45 stores.”
At the same time, some stores are offering 50% discount if the customers pay with the cryptocurrency. Additionally, people that is used to buy online, they can buy the product at home and go to the shop later, or another day, to take the product.
“This is a cryptocurrency for communities to use it,” says Antonelli. “In this design, transactions are very fast (no more than 10 seconds). There is a group of stores that show the different discounts offered, who accepts the new cryptocurrency, and a list of promotions.”
The application can be downloaded at Apperto.co for Android and iOS devices. The company behind ApperCoin is known as INMUVI, a company that provides cloud solutions for stores and other retail shops in Argentina and the region.