Money is essentially a social concept. It derives from the necessity of humans to relate to other humans that offer interesting goods or services. That’s why studying the social side of money is a necessary thing, to try to comprehend what attracts users to certain kinds of currencies, and what communities are doing around a particular currency.
eCash is a cryptocurrency built on the experience of the original bitcoin created in 2009to build money at a mankind scale, according to its roadmap. However, this process cannot advance without starting at a grassroots level, with macro heading to micro, and micro heading to macro. As a way of giving exposure to these great communities that use Telegram as the meeting place to interact, eCash News Today puts its attention on top of the eCash’s Vietnam Telegram group, to study its interactions and what are they doing to help spread eCash awareness.
eCash News Today interviewed Nghia Cao, one of the main administrators of the Vietnam Group. Cao is not a newcomer in the cryptocurrency market. He has been into cryptocurrency since 2015 when he found Bitcoin. Cao states he was a big supporter of the big block movement that happened in 2017 when Bitcoin experienced its first big contentious fork.
“I later found the cause of the issues with crypto was not with scaling but rooted in the funding.”
Cao, being a developer himself, knows the importance of funding, and he is not shy to state it. When asked about how he found eCash, he stated:
“In early 2020, I found the IFP (Infrastructure Funding Plan) and didn't like it. Later on, the proposal from ABC was much better as it gave direct control of the fund to the developers. As a developer myself, I have been supporting development funding and been calling for support for ABC before and after the split.”
Cao thinks eCash has the upper hand when it comes to technology. He stressed:
“I later found the technologies from ABC were game-changing, Avalanche, Parallelization, Division of Labor”
eCash Telegram Group
Vietnam’s eCash telegram group had its roots in a group of dissidents who thought ABC’s proposal was interesting. Later, more people joined when the rebrand to eCash was finally executed. It was here when people started joining and integrating into a community in the group. Cao further elaborated on the tasks and purposes that he conducts in the group. The group objective is to bring the technologies and news to supporters in Vietnam, including eCash’s proposal as sound money.
The group is comprised of diverse individuals, and it regularly schedules meetups to educate the newcomers on what cryptocurrencies are and why the eCash initiative is important.
There was an online meetup on September 4th, 2021, where the group discussed and explained technologies related to eCash, including Avalanche technology, Infrastructure funding, and a demonstration of AbcPay multi-sig capabilities. Vietnam was found to be the first country in adoption, with 41% of the citizens using cryptocurrency according to a survey made by Finder; and any movement organized to educate users is going to be well received by the community.
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