Muniti : Malta’s Tourism Crypto Currency

A little while ago, I talked about my dislike for crypto currencies claiming to give people from a certain country “free money”. However, when a new crypto currency of this genre catches my eye, I always try to keep an open mind. So let’s see what Muniti has to offer, shall we?

Muniti is “centered at molding perfectly with the current system in place and with the sole purpose of promoting and emancipating the country which it will represent.” Said country is Malta, a small island in Southern Europe.

Well that sounds possibly interesting to me so far, so what else have you got that might make me want to mine this?

“The idea behind Muniti is to have a cryptocurrency which is partly spread fairly between the citizens of Malta, with the major part being mined by non-Maltese citizens, ideally for the purpose of visiting Malta and be able to spend the coin here, while at the same time pinning Malta further up on the “Popular Destinations” board.”

Not like we haven’t heard this before, but I’m not deducting any points from your cognitive score chart yet. Please continue….

“The coin will be distributed via registered post, where each household will receive a paper wallet with a set amount of Muniti.” This will probably end up being expensive, not to mention you can’t actually get a list of all addresses in Malta, I’d assume. Not too sure if this is a good approach, but I like the part about the paper wallet!

“Along with the company I work for, I will be steadily contacting all the other media companies and offering them an overview of the coin along with other promotional material sent to them, as well as making TV appearances in order to explain the usefulness of such a coin” As much as I would love to see this happen, it probably won’t, but I’ll publicly apologise if you do make it happen.

So far, Muniti has some interesting ideas, and is aiming very high. unfortunately for them, we have seen these things being promised before, without a proper delivery; so forgive me for being a bit skeptical at this time.

As far as the technical details go for Muniti, here are some of the things you need to know :  

• Algo: X11

• Block reward: 39 coins per block, reducing 1% every two weeks with compound

• Block generation: 1.5 minutes

• Difficulty retarget: Kimoto Gravity Well (KGW)

• 76000000 total coins to be issued

• Coins reserved for pre-mine: 32%

For more information, feel free to check out the official Muniti website, as well as the Muniti thread on BitcoinTalk!