The Core of Boom
Multicoin: a medium-of-exchange, a store of value and a unit of accounting
The Multicoin (MTCN) is a decentralised Ethereum blockchain ERC-20 token. It is Boom’s native currency and global medium-of-exchange. It is censorship-resistant and accessible to everybody. It enables you to send no-cost, borderless payments for goods and services to anyone worldwide, at any time and from any location, in your local fiat currency.
The Multicoin enables global fiat-to-fiat transactions by creating fiat pairs with MTCN. This ensures that everybody can transact internationally in their local fiat currencies. Boom achieves this by converting fiat currencies into Multicoin, which is then delivered to the other party’s Boom wallet and swapped back into fiat.
The Multicoin can be swapped into multiple fiat currencies and CBDCs (Central Bank Digital Currencies) and because its supply is limited to 2 billion (new Multicoins cannot be minted because initial supply = total supply), it can also be used as a store-of-value to hedge against inflation.