The token will facilitate trade within the ecosystem, possibly even buying outside of Colombia.

A blockchain ecosystem that works in the city of Medellin, in Colombia, will use a new token for online purchases. The token is called Rutanio and it will work for commercial exchange. This was reported by local media last Thursday, February 13th.

The initiative for the use of tokens within a blockchain ecosystem in Colombia, according to the article of the local media, starts from the need for new commercial methods that inspire confidence in users. “It is a project inspired by transparency, simplicity, and trust, articulated by Ruta N”, says the press.

This token will work within the ecosystem itself and will serve as a traditional currency to determine the price of the items. “In this ecosystem, each participant defines the value of their product or service in Rutanio, the token that governs the commercial exchanges that take place there”.

The article detailed that, for example, a professional can offer his services on the platform and value his work in the amount of Rutanios that he considers. Once the offer is in the ecosystem, another member who needs the job can accept it, or even propose to change it. This could be considered a free market that will be supported by the platform token.

A representative of the Blockchain Centre Latam, Felipe Cano, mentioned that the project is a particular and novel initiative in his country and that, thanks to it; new technologies could be promoted, as well as the ease, security, and freedom offered by the ecosystem.

In another comment, the International Public Relations Manager of the project, Policarpo Guerrero, commented that this platform was built thinking of a virtual market where users can trade products and services using new rules and digital methods.

The use of Rutanio, a token created for this ecosystem, would be present to facilitate commercial operations among its users although this will be the official currency of the new digital market supported by blockchain. Neither the article nor a representative clarified anything about the equivalence of this asset with the Colombian Peso. Until now, the value of Rutanio compared to the local currency is not known.

About the Token

A few details of the token that the ecosystem will use to simplify trade on the platform are known, but according to the Rutanio website, the purpose of this token is to internationalize the novel ecosystem that prepared Route N, in Colombia. This is a token that helps to make purchases on the platform from any country, and perhaps, from any other currency.

“Ruthenium is proposed as a medium of exchange and a complimentary token for the innovation ecosystem articulated by Ruta N. It is a digital asset native to the local innovation ecosystem”, the company emphasized on the official website.

The use of token within a virtual purchasing platform represents a breakthrough for the crypto world, even in Latin America, where blockchain projects arise despite not having clear rules and regulations by the authorities.

By María Rodríguez


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