Tobias Ruck, developer of the be.cash explorer for eCash, and Alexander Ugorji, founder of Cryptofrontier, an organization created to promote the use of blockchain and cryptocurrencies in the Mariana islands, have hinted at the future launch of a complete cryptocurrency ecosystem based on the eCash blockchain for Saipan. The developers explained this would be done through a combination of several key products in the third episode of their “Work Not Words” podcast.
The system consists of a cryptocurrency-enabled PoS terminal that would be distributed to merchants to process and accept cryptocurrency payments in an easy way, and a wallet, called RaiPay, that citizens would use to acquire goods and pay for services in different stores of the island.
While the system could have been formulated using other cryptocurrencies, Ruck enumerated several key advantages of using eCash instead of other cryptocurrencies: First, he stated that eCash has shorter addresses. This helps QR codes to be smaller and less dense due to having fewer characters embedded in the code.
He also stated that the introduction of Avalanche will greatly improve the security and the scalability of the chain whenever these new features get implemented in the future. Ruck stressed that while many might say the resulting chain is not bitcoin, they do not care because they mainly want something that works. This would also translate into faster transactions by using avalanche for pre-consensus purposes.
Builders Enjoy Direct Support From The eCash Team
Ugorji also added another reason to build products on top of the eCash network. He stated:
“The community is much better and more accessible. We’re in communication with the ABC team, they know what we’re working on and they are happy to support us when appropriate and give us a heads up about any changes”
Ruck also added that Amaury Séchet, the main developer of eCash, encouraged them to propose code for the eCash full node codebase which would help fulfill their use case. After rigorous reviews by Séchet and the Bitcoin ABC team, the code was accepted and is now regularly being used.
In conclusion, Ruck and Ugorji continued to say that RaiPay would be a “token first” wallet, hinting at the possibility of the creation of a local stablecoin using eCash’s eToken system as a backbone.