Pantrypoints @ TON Hackathon

We joined the TON Hackathon to try to integrate crypto into Pantrypoints.

We began Pantrypoints in 2016 as a points-based system based on social contracts. We noticed that other at least 2 other startups took the idea using cryptocurrencies instead of points.

Back then, Ethereum was the main crypto that was available and so they used it for their prototypes. We also tried Ethereum and found problems with it:

• It was difficult to code
• There was a lot of friction in onboarding and use
  • The gas fees are high
• It has high environmental impact

So we shelved the idea until we could find a better blockchain. We got introduced to TON, which stands for The Open Network, last year.

Compared to Ethereum, it was easier to connect to their API. Its default wallet was easier to use as it was integrated into Telegram.

Our entry was the CommuniTON Pantry which uses TON to incentivize donors to donate to disasters.

Crypto-easing: Using Crypto to Grow Points

We also tested the different wallets to see which was the easiest to use for our ‘crypto-easing’ program which is our alternative to quantitative easing and a partial solution to global warming.

Crypto is terrible for the environment as it wastes a lot of electricity to facilitate transactions that could have been done with far less electricity through traditional online transactions through a server.

AI also uses a lot of electricity but is actually useful.

The excess electricity usage creates CO2 which heats the planet, causing typhoons, floods, and droughts.

We aim to solve the destructive crypto problem by purchasing crypto with the actual goods and services in our Pantrypoints system. This jumpstarts the circulation of goods and services, doing what quantitative easing was supposed to do for the financial economy.

We never use the crypto and so keep it out of circulation. In theory, this will reduce the electricity used by its blockchain since electricity is used in every transaction.

Crypto-easing therefore strikes 2 birds with 1 stone.