Business
WRIT Media Group Launches Bitcoin Alternative, Pelecoin
WRIT Media Group Launches Bitcoin Alternative, Pelecoin.
About this update from Writ Media Group, Inc.
[{"type":"text","content":"\n \n \n WRIT Media Group Launches Bitcoin Alternative, Pelecoin\n \n \nWRIT Media Group Launches Bitcoin Alternative, Pelecoin\n \n LOS ANGELES, CA--(Marketwired - Jun 27, 2016) - WRIT Media Group, Inc. (OTCQB: WRIT) today announces the formal launch of Pelecoin -- a unique digital currency and the first product in a family of unprecedented cryptocurrency and Blockchain technology solutions, acquired through the previously announced Pandora Venture Capital transaction.\n \"We are pleased to introduce to market our unique Pelecoin technology, and look forward to the potential it creates not only for WRIT Media and company shareholders, but for the broader digital currency space as well,\" said president and CEO Eric Mitchell. \"There are several advantageous ways Pelecoin differs from other digital currencies on the market, and we're excited to be part of the many advances taking place in cryptocurrency.\"\n What is PELECOIN and why is it different? \n Pelecoin is a cryptocurrency platform that provides secure digital currency products and services -- including wallets, exchanges, loyalty rewards, and merchant integration -- to consumers and businesses around the globe. The online platform allows users to send money to any Pelecoin wallet; send and receive Pelecoins; shop online; and to store Pelecoins. The platform also enables merchants and payment platforms to accept Pelecoin digital currency.\n In the current digital currency landscape, \"rules of emission\" prevent existing digital currencies from becoming more widely distributed and used. All known systems generate new coins (emission) in a manner that disregards the currency's market value. For example, Bitcoin generates 5 coins per minute while Litecoin generates 25 coins per minute, on a permanent basis without regard to the current value of the currency.\n Additionally, new coins are distributed between active users (miners) whose computers participate in the generation process. This model obligates the users to have not only a very deep knowledge of software programming, but also expensive computer equipment. As time passes, the process becomes more sophisticated and expensive, and less accessible to new miners.\n Pelecoin's emission system differs in that it is based on a simple proprietary algorithm, making it accessible to all and clear to its users. The system gen...