Teen has reached out to the following commercial partners for assistance in developing a plan for implementing TEEN as a central bank digital currency under a new program for merchants. This outreach model compliments the merchant services model where merchant partners can use their teen coins as a form of currency for goods and services.
Once a banking partner is secured, the value of Teen will increase to a par value, acting as a stabilizer against market fluctuations. Teen is an ideal blockchain for testing because of it’s large supply metrics and large reserves.
Alberta Treasury Branch – pitched the TEEN GIC, a special GIC account where customers would have zero-risk GIC investment allowing invested funds to operate under the normal parameters of a GIC account, however, a loyalty reward of TEEN COINS could be issued at a par value based on deposited amounts. Teen coins could be used on the merchant network, sold, or traded on Finexbox. Negotiations for account creation are ongoing.
Bank of Canada – Here is a copy of the letter sent to Mr. Timothy Lane, Deputy Governor for the Bank of Canada, sent October 16, 2020:
Dear Mr. Lane,
Regarding the recent discussions on the use of a private digital currency, I would like to inform you of Teen Coin, which I established in 2018 on behalf of the Bank of Canada.
The currency itself has a supply of 13.5 billion, with 12 Billion in reserves for the BoC and 1.5 Billion currently in circulation which has been used to test it over the past two years (est. Sept. 2018). The concept of Teen is to introduce the next generation of financial users to digital currency in a safe and educational environment, and has seen success in recent months as we have been chosen to represent Canada at the G20.
I would like to establish a pilot project with Teen Coin, partially financed by the BoC, to offer Canadians the opportunity to get some coins and learn more about currencies.
I am seeking $400,000 (based on current market price) in exchange for the 12 Billion Coins in reserve. The funds will be used for legal, accounting, marketing, and administration to distribute the coins around the country, and the world.
The BoC will operate at arms reach, but control the majority of reserves and will have power to determine how many coins to allocate during Phase 1 (perhaps 1 of the 12 billion) during the initial rollout to Canadians, and disperse remaining reserves based on strategic planning.
The coin is already bought and sold on the Hong Kong Finexbox exchange and can easily be added to major national and international exchanges.
Canadian Dollar Price Per Coin *Average Teen Market Price *Average Ether Market Price (0.00000007*$420 = 0.0000294 cents per teen coin).
Valuation: Total Teen Supply (13,500,000,000) * CAD Price (0.0000294 cents) = $396,900 based on floating value price of 7 satoshi.
= $793,800 based on floating price of 14 satoshi.
Having BoC onboard will drive the value of the coins much higher and could be a stablecoin on par with CAD as we move into tertiary phases. I look forward to piloting a project of this nature and answering your questions at 403-393-2154.
Having 2 years of error free transactions on our blockchain, I believe this is an excellent action solution to begin diversifying the experience and knowledge of BoC in speculation and diversification without becoming locked-in on something like the Libra, and also supports small Canadian business.
We are ready to make the transaction at your convenience.
We use the digital wallet called Imtoken, which is a free download and allows users to send and receive payments.
Please download this app and I will send you some coins so you can familiarize yourself with our products, then we can work on the messaging for a national rollout.
The basic premise would be for interested parties to download the Imtoken app and enter their deposit address in a form, and each month we would process bulk payouts until we are satisfied that we have properly seeded the markets, then grow the value of the coin to be a stablecoin alternative in the digital markets.
The coin has QR code capability and can be done with merchants, but above all, is a gateway coin to introduce new users to blockchain, crypto, and digital currencies.
I have designed this project with BoC in mind, and it is an excellent fit ready for rollout as I have spent 2 years testing it.
Review our public ledger encryption technology built on the ethereum blockchain: https://etherscan.io/token/0xd3003b3778bf4887e73eb320b71a04728961505c
LESSONS FROM SAUDI ARABIA (OCT 2020)
As part of the Canadian Delegate to the Saudi Arabian Young Entrepreneur’s G20 Summit, Teen Coin began enlisting national and international merchant partners. https://www.g20yea.com
WORLD INDIGENOUS FORUM (NOV 2020)
Establishing Merchant Service partners as part of the presentation committee at the World Indigenous Forum. https://www.worldindigenousforum.com/
COMPETING FOR JAPAN, SINGAPORE, and DUBAI (DEC 2020)
Teen Coin is currently competing for a slot in the Canadian Delegation as part of the Japanese Fintech Partnering Mission, where strategic commercial partners will have the opportunity to speculate on Teen Coin.