In an effort to raise startup funds to develop what promises to be an innovative crowdfunding site, PICISI.com is launching a new cryptocurrency on August 31 to coincide with their 15 day crowdfunding effort.
PICISI (Philanthropic Investments and Charity for Inventions, Startups, and Ideas) is a crowdfunding project that has been in development for a number of months, Pi (abbreviation for acronym) is the common name given to the cryptocurrency (currency code NUMUS) they created 4 month ago that is now ready to be released to the public. Pi/NUMUS (Latin for currency) was created using the NXT Monetary System. NXT is one of a handful of highly advanced cryptocurrency platforms often referred to as 'Bitcoin 2.0' platforms.
Pi was designed to play an integral role in the long-term business development of PICISI it will serve in 3 specific ways: initially, like all national currencies, to raise startup funds; secondly to use in the day-to-day operations of PICISI; and finally to provide a funding resource for major capital expenditures eg: Money Services Business licenses for all 50 US states, which could amount to $1M.
PICISI's mantra is 'Promotion, Promotion, Promotion' this is primarily how Pi will enter the marketplace. Promotion Contractors are self-employed individuals from all around the world who do PICISI assignments. They are primarily writers, but also video producers, graphic artists, marketing professionals, and social media experts. Once registered, Promotion Contractors are able to work on various PICISI assignments to earn Pi.
Knowing that cryptocurrencies are notorious for being volatile investment instruments PICISI plans to provide Pi with a level of stability by instituting a value adding 'rebuy' plan -- as they earn fiat they rebuy Pi on the open market.
As a crowdfunding site PICISI expects to earn revenue primarily through fees charged to campaigns, and through various sponsorship opportunities. The rebuy plan says, earnings in the form of fiat (USD, GBP, CAD, or any other national currency) will be used to buy Pi at public cryptocurrency exchanges. They also indicate that if an official exchange sponsor is in place, all Pi purchases made by PICISI will take place at that exchange.
Although cryptocurrency can not be counterfeited the cryptocurrency industry is wrestling with troublesome hackers, billions were lost due to hacking. PICISI is asking cryptocurrency developers to consider giving cryptocurrency creators the option of including serial numbers on individual cryptocurrency units so that each unit could be individually identified for the life of the currency.
According to PICISI, serial numbers may not fit most cryptocurrency models but would be a perfect fit for Pi, they indicated that if Pi, with serial numbers, were stolen from them they would instantly devalue the specific units in question such that it would be effectively worthless to them. With that type of tool and policy in place it will add an extra layer of security to Pi.