SocialPolis: A unique Coin to foster Social and Sustainable Economy

Socialpolis Coin will be an enabler for the sustainable development economy and will satisfy the need for alternative methods in financing innovative projects, offering, at the same time, trust and transparency in sectors where these elements are of highest priority.

Since the financial crisis of 2008, the world has being experiencing untracked challenges and mostly a phase of impeachment of the traditional financial system and its potential towards a sustainable world. Cryptocurrency and its underlying technology, Blockchain, as an open source and central authority-controlled free financial mechanism has the potential to introduce an entire novel perspective for economics and society as a whole as well.
Although Bitcoin is considered as the beginning of cryptocurrrencies, “Ovolos”, the first alternative, not Blockchain-based currency, created by Dr. Nikos Bogonikolos, managed to cater the economic needs during a period of Great crisis.

Today, Dr. Bogonikolos and his motivated team are glad to present SocialPolis (SLP) Coin. A fairly new concept, known as “alternative”, “parallel” or “community currency.” The granular difference of SPL is its intention to bridge the gap between non-demanded resources and unsatisfied needs creating at the same time a local alternative cycle of value.

Social group’s allocation has drastically changed during the last decade due to the financial crisis of 2010 and the followed refugee crisis. A new Economic Sector has raised in which social economy enterprises are crucial. Aiming to have an social, societal or environmental impact for the general interest, social economy enterprise represent around 10% of EU’s NGP. Their vigor and need for transparent, trustworthy and sustainable development meets the possibilities of Blockchain and cryptocurrency-based economy.
SPL coin has been created as an alternative to the current financial transactions system by using Blockchain technology for the social and sustainable development economy. The impact of SLP targets to improving the EU’s employment, social cohesion, regional and rural development, environment protection, consumer protection, agricultural, third countries development, and social security policies.

Social Economy in Europe

To be more precise, the new Act (4430/2016) poses vulnerable social groups into productive coops in Greece and base social economy on them. Such coops are obliged to return to the society 40–60% of their profits in order to maintain tax benefits offered to the specific sector. Adopting SLP Coin, any mining activity by coops or their unions will not be easily accepted as their development grows. Thus, 60% of their profits will be used to buy SPL Coins to reinvest within this financial sector.

SPL Coins re-investing to Social Economy

Finally, the main idea is to offer an amount of SPL Coins to the final beneficiary of the humanitarian aid in the form of tagged coupons, which will be distributed by NGOs and other organizations to citizens or refugees according to the amount of donations, reducing in parallel the costs of the humanitarian relief aids programs will be reduces as well as corruption.
Creating and circulating the SLP Coin meet aforementioned needs. As Blockchain matures and expertise increases, the gaps within the new Social Structure wordwide will be paved.