Zaka - India's First Transaction Token for Retail Market
Introduction
Along with Zaka Coins and its function as a transaction tool, we would like to briefly talk about the history of money also. Because the current stage of the travel of the money is cryptocurrency; and the utility token, Zaka is one of the cryptocurrencies.
Money is the asset value or the labor value of the holder, however the currency he holds is one of the tangible forms of his money. Hence, it is essential to explain the relationship between currency and money. Also, here we describe where we currently store our labor/ asset values, which is, electronically by using cryptocurrency.
Key takeaways
- What is money?
- Inherent value of money
- What is currency?
- Relationship between money and currency
- Journey of currency
- Currency Vs Medium of exchange
- Difficulties of third party intrusion in currency
- Introduction of ‘Peer to Peer’ transactions
- Cryptocurrency: Features and Purposes
- Pure economy through cryptocurrency
- Zaka Coins : Necessities and utilities
- Zaka Coins : A medium exchange
- Webbazar and it’s features
- DawnFish, the online high quality sea fish mart
Money, currency and cryptocurrency - a brief note
Currency is a medium of exchange for goods and services. In short, currency is money, which is in the form of paper or coins. Generally it is issued by a government and accepted as a method of payment and legal tender in its own territory.
Money refers to an intangible system of value that makes the exchange of goods and services possible, now and ever. Of course, currency is a tangible form of money, which is an intangible system of value.
Generally the currency acts as,
• store of value – people can save it and use it whenever they want
• unit of account – providing a common base for prices
• medium of exchange – people can buy and sell from one another.
Currency has replaced the bartering system of trading goods and services. If there were no money, we would be reduced to a barter economy. If a person ‘A’ and another person ‘B’ have two different products and if both the products are mutually needed, there occurs bartering. On the contrary, if you don’t find a person who requires your product, bartering doesn’t happen.
But with currency, you don’t need to find a particular person. You just need a market in which you shall sell your goods or services. In such a market, you don’t barter for individual goods or services. Instead you exchange your goods or services for a common medium of exchange, called money. And then, you can use the same money to buy what you need from others.
At the same time, a third party called the central bank of a government, who has issued the value of money in terms of currency, comes in between to collect a fee.
Don’t you feel it’s not fair?
And another common threat that is left undissolved is the quantity of currency printed by the central bank of the country; whether it equals the productivity of the country? Many times in many countries it goes excessively. If so, what happens to the economy of the country? It is as if you steal your own wealth.
Don’t you feel it’s not fair?
If you feel it’s not fair, you are welcome to a new world of economy where none can exploit your labor and wealth, which is the ecosystem of cryptocurrency.
In the 21st century, a new form of currency called virtual currency has entered the realm of exchange. Such a virtual currency is known as cryptocurrency and they are traded and stored electronically. Moreover, this cryptocurrency is 100% decentralized in nature, not infected by any third party and totally immuned from any government.
Bitcoin
Bitcoin is a ‘store of value’ and a payment method like normal currencies. Importantly, Crypto acts as a medium of exchange people can use to buy goods and services.
These cryptocurrencies have less importance at the ‘supply’ aspect, but their prices can still rise if they have strong ‘demand’. Importantly, people can use cryptocurrency to buy goods and services. Hence, the more utilization of the cryptocurrency is one of the ways to hike its value.
Zaka Coins
Cryptos have several purposes that can help consumers make money and access certain utilities. They are, Purchase Goods and Services, Invest in Startups Businesses, Wealth Accumulation, Earn Interest, Money Transfers and Private Transactions .
In the same way, Zaka coins, created by the Bizaka community have the same purposes. However, the current features of Zaka Coins are as given under;
- Purchase Goods and Services
- Invest in Startups Businesses
- Wealth Accumulation
Purchase Goods and Services
Invest in Startups Businesses
Wealth Accumulation
Bizaka Community, the founder of Zaka Coins, has various startup initiatives, however its pilot projects are Webbazar and DawnFish.
Webbazar (App@Webbazar) is the decentralized p2p marketplace, which is to promote the trading of regional native products, but shall be extended globally.
DawnFish (App@DawnFish) is the present project of selling “High Quality and Fresh Sea Fish ‘‘ to the people of Kanyakumari district.
Furthermore, Zaka Coins are integrated with the above two projects as a medium of exchange.
What are the impacts of Zaka integration with Webbazar and DawnFish?
Startup businesses rely on capital and other resources to grow. These startups may sell their cryptocurrency for cash, mainly at the beginning and for a low cost. Such investors are often called the “Community Members” of the coin.
The growth of the coin integrated company hikes the value of the cryptocurrency which will in turn provide the crypto-investors with a higher return.
If you invest now by purchasing Zaka Coins from the source, at a low cost will grow many fold in due course.
But, how will it happen? And what are the reasons behind the hike of the value of Zaka?
In case of cryptocurrency it always differs from other types of investment. Nevertheless, one has to buy a cryptocurrency, when it is introduced. However, you must be careful in analyzing the projects and functions where the coins are integrated because the majority of the coins have nil purposes.
When it comes to Zaka Coins, we are in the beginning stage of it’s functions. DawnFish started its operation in Nagercoil at present and soon will be extended to other parts of Kanyakumari district. In the same way, it will be expanded to Tamil Nadu and Kerala as a whole.
However, is Zaka worthy of wealth accumulation?
The answer for the above questions is a single project called DAWNFISH, in which Zaka is integrated. And the supporting factor is the WEBBAZAR, which functions with its decentralized system with Zaka.
DawnFish
We, ourselve are dedicated to bringing the finest selection of high quality seafood from the tri-sea waters of Kanyakumari district directly to your kitchen. Do enjoy the freshest and tasty seafood without leaving the comfort of your home or workplace and also without spending your valuable time.
At DawnFish, we realize the importance of fresh, healthy and nutrient food choices, particularly we are here to cater such a quality in the case of seafood. These are the prime reasons why we have established strong relationships with local fishermen of Kanyakumari district fishing harbors. In the same way, we buy Vallam fish (Daily fishing system) and avoid Big Boat fish and imported fish. Particularly, we prefer ‘hook fish’ of Kadiyapattinam harbor in case of big and costly fish; we buy smaller size ‘Bait fish‘ (Mathi Chalai, Nethili etc) from Seashore Fishing (Karamadi meen).
Explore our blog@bizaka.in to discover a wide range of fish varieties and specialities that are native to Kanyakumari oceans. From succulent Tuna to tender fleshy Seer fish, from delicious Prawns to mouth watering Lobsters, we have carefully identified a diverse range of options to cater to every taste bud.
We prioritize your satisfaction and guarantee that our fish are handled with the utmost care in every step until the fish reach your doorstep. To ensure the declaration, we have established various divisions such as ‘procurement’, ‘transportation’, ‘preserving’, ‘cleaning & Deveining’, ‘ Dispatch & Delivery’ and Customer Care & Grievance cell with utmost care. We have established the said segments in order to implement stringent quality control measures to ensure that you receive only the finest and highest quality seafood.
Conclusion
Since this is the time for technological transition and the whole world is heading towards digitalization, we wish you to get the benefits of it via Zaka Coins. In fact, you may be the one to avail the gift of waters and taste the seafood through DawnFish. Besides, you may be the one to be a part of Webbazar, to trade authentic and native products. Most importantly, you may join as Bizaka’s community member by buying plenty of Zaka coins and enjoy the benefits of it.