Unsung – an App Hacking Hunger with Blockchain

I saw this app called Unsung – which is an awesome application using digital currencies for payments. Distributed – live streamed – sharing of food to the needy people in one’s community.

Unsung brings together  donors and recievers of food/groceries,  using real time streaming similar to uber. The donors and the deliverers i.e. drivers who courier the food to the needy, can earn donations using digital currencies, thus reducing transaction costs. One can also donate on the platform using cryptocurrencies or cards. Eventually, I’m sure they will generate their own colored coins, which will replace the existing reputation points based model. These colored coins can then be traded on Karma markets.

Its fascinating what can be accomplished using micropayment using digital currencies and a mobile application.

Gold vs. Bitcoin as a currency hedge

Gold has been used as a hedge for portfolio diversification in many countries. For example, these 3 firms in Kerala – India seem to make gold in any form fungible. Over a period of time they seem to have amassed more of the yellow metal than some of the world’s richest countries in their reserves. 

What makes this equally interesting is that since the past 2 years gold hast depreciated as an asset – globally.

 Bitcoin on the other hand has significantly appreciated in value during the same period.  However,  with bitcoin, fungibility has been a concern due to very few people exchanging bitcoin for real money. The ATM’s charge an average of 20% commissions and the buy/sell ratio for Bitcoin is about 20%. Moreover, financial instruments such as loans on NPV for bitcoin haven’t yet made their mark.

But my guess is this will happen – sooner than later, since storage and transportation of bitcoin is much less expensive than Gold. The storage cost component of the transaction cost of holding Bitcoin is almost Zero, and this makes it very attractive.

Sooner, than later this will become an alternative if not powerful hedge against government backed currencies.

Look at the 2  graphs for these two forms of fungible currencies.