Bhutan Prizm cryptocurrency is officially launched in The Kingdom of Bhutan. The small Asian country has now become the first in the region to launch its cryptocurrency called Prizm.
As per the official press release, the official cryptocurrency of The Kingdom of Bhutan Prizm is endorsed by the country’s authorities. It will be on par with the country’s fiat currency ngultrum and enjoy the same privileges and status. Bhutan has surprised neighboring nations like China that is developing its cryptocurrency. Rated as ‘Carbon Negative’ and the ‘Happiest Nation in the World,’ the country is an untouched natural delight.
Bhutan Prizm goes live amid much fanfare
The cryptocurrency was under extensive development under the country’s watchful regime. Tests were conducted worldwide to ensure its efficacy. Even para mining was created to guarantee safe applicability. Now Prizm is ready to be used by the country’s residents in their day to day life.
Interestingly, Bhutan Prizm is free from exploitation by large mining farms. It is a cryptocurrency in the truest of sense since it reaches even the poorest members of the society. The developers have made sure it serves its purpose of enriching the lives of the country’s poor by financially empowering them.
As per the official statement, the country will issue a Prizm e-wallet to every resident. Residents can mine Prizm as well as undertake a transaction using this device given by the government. They can also access Prizm using their smartphones, desktops, tablets, or laptops.
Bhutan Prizm aims for true decentralization for people
The government of Bhutan will credit 100 Prizm into the account of every resident’s device. To achieve this, it will invest fifty million dollars ($50M) that will also help build its architecture. The country’s inhabitants will be able to use them at all the stores, offices, and public places. It will put them on the path towards financial independence.
Prizm is characterized by low operating costs, completely decentralized architecture, and wide use. It ensures that even the country’s poorest residents can access the system. Slowly, it will reach the status of ngultrum. Social services and public servants can choose to receive their salaries in Prizm.