Vconomics is a virtual environment that simulates the digital economy so that users can interact and have an overview of the future digital economy. As money in real life is the medium of exchange for the simplification of trade, in Vconomics economy, MICS plays the role of a digital currency that helps users experience top services.
1. How was MICS created?
The MICS coin was created as Vietnamese people encountered difficulties in financial management. To solve those problems, the founding team of Vconomics has researched and created a digital currency that helps people manage cash flow easily, transparently, and minimize inflation.
Based on Blockchain technology, MICS coin can enhance its strengths in trading, buying, and selling digital assets. They exist in a “decentralized” form, meaning that everyone can mine and manage them. The Blockchain wallet is the “ledger” of a company, then the MICS coin is the “medium of exchange” recognized by a large community called Vconomics. They can be used to buy, sell, exchange or hoard for profit, and can be mined (limitedly) by performing simple tasks.
2. Features of MICS
2.1. Value of MICS
MICS acts as a “medium of exchange” in economic transactions, so the value of this currency will largely depend on the law of supply and demand. It is estimated that the number of MICS issued to the market is 11 billion MICS. This total supply will meet the transaction needs of all Vietnamese people, at the same time be the premise for the Vconomics economy to develop and bring great digital economic solutions.
Blockchain technology has special features, one of which is the ability to transmit data without requiring confirmation from an intermediary. In other words, this technology closely monitors financial activities by processing and storing information using millions of personal computers. All transactions are recorded and cross-confirmed between computers in a secure “ledger” system. This minimizes the invisible control of a certain “economic hand” or the remote control of non-transparent organizations.
The MICS coin will gradually make the existence of intermediary financial institutions redundant because the decentralized data distribution technology of this virtual currency is inherently based on the peer-to-peer network of the blockchain. The MICS network is very unlikely to be manipulated, the server crashed or hacked by hackers, or it is impossible to be so because of the decentralization of millions of ledgers in the network.
For example, if a hacker wanted to break into something in a particular block, they would have to hack all the information in the blocks that came before it. The possibility of doing this is close to zero because millions of tightly connected blocks cannot be destroyed in a few single operations. The blockchain system is the “immune system” for server crashes or the disappearance of MICS coins in your Vwallet wallet.
Another reason that makes this currency decentralized is the freedom of financial transactions. The MICS network is not controlled by any state agency, nor is it owned by anyone. No one can take away your MICS including the government, the cash flow will continue even if a part of the network is broken.
2.4. Basic setup
When joining the Vconomics ecosystem, users have their MICS wallet and BNB wallet integrated. The wallet address generation process is totally free, allowing users to optimize the experience on modern blockchain platforms while creating the convenience and flexibility of virtual currency transactions.
3. The application of MICS in Vconomics digital economy
In the decentralized digital economy of Vconomics, MICS serves as a medium of exchange. They can be used to buy, sell, exchange or hoard for profit when you and the community share and use them.
The MICS token is widely applied in the digital economy. Specifically, they are used in:
- Vscore: FREE Credit Scoring (Launched in December 2020)
- Vfactory: FREE NFTs Creating Factory (Launched in September 2021)
- Vex: NFTs Exchange (Launched in September 2021)
- Vuniverse: Spirit Universe (Launched in January 2022)
- Vpool: Staking and Savings Fund (Launched in January 2022)
- Vacademy: 4.0 Financial Academy (To be launched in December 2021)
- Vlending: Peer-to-Peer (P2P) lending platform (To be launched in February 2021)
- Buy affiliate products
- Bankers pay an amount fee in MICS to approach customers with credit-related demands.
- Cooperate with banks and training centers to provide financial courses.
- Use collaboration products and services provided by Vconomics, SMEs Banking, and Consumer Banking.
MICS is a part of the Vconomics ecosystem which allows you to enjoy the great conveniences of life. As the scale of MICS expands, you — the holder of MICS, will have more spending options. Imagine being able to pay your electricity or water bills, airline tickets, gift cards, etc. with cryptocurrencies, surely this will be an interesting and extremely convenient experience.
Not only a means of trading, MICS is also a promising investment. You can own this cryptocurrency to hoard, wait for the increase in value to earn interest, or you can also buy and trade MICS on VEx decentralized exchanges.
In the decentralized digital economy of Vconomics, MICS plays an important role in conducting financial transactions. Download Vconomics now to experience the digital economy at your fingertips!
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