Our Blog
BackPacker Coin Has Kept own promise-welcome you

From July 7 till now, we have kept the BPC rate stable. We are dedicated to stay with our promise very seriously. In the near future, people will be able to see the price tag of the product in crypto with the help of BPC.

The BPC community is growing at a very good pace. We are going to increase BPC withdrawal limit soon with some conditions.

BackPacker Coin is helping the tourists and backpackers to explore the opportunities and travel the world in a hassle-free way. Payment transactions and currency conversion can be frustrating sometimes. Most travelers face low rates of currency conversion, heavy fees of payment gateways and high commission rates from middleman. So our aim is to impose the decentralized system with the help of blockchain technology to reduce the end cost of transactions.

One of the advantage of using the digital currency is transaction fees are almost lower. We are serving as a alternative payment method which eliminates currency conversion charges and people do not need to keep lots of cash with them.

We do not want to limit ourselves. we are helping the travel and hospitality industry in a more broader way. 

Airlines, hotels and restaurant chains, taxi service providers, currency brokers and any other service provider want to connect with BPC then please write us. Our doors is open for everyone as well as it is win-win for you/

Posted on December 30, 2019
New Dollar-pegged Backpacker Coin Launched

Stablecoins are becoming the next big wave not just in the crypto world but the whole digital currency and transaction industry. Many investors, enthusiasts and futurists of the sector are drawn to the fact that digital assets need not be the volatile, risky investments that they are and a new class of such currencies should be established that should be pegged to stable fiat currencies like the US Dollar. 

New Stablecoin Backpacker Coin (BPC) Launched

Stablecoins are gaining traction in the sector as they are tethered to the Dollar and offer digital currency transactions like regular cryptocurrencies with none of the extreme volatility. One such exciting new project is called the Backpacker Coin (BPC) which is coming out of Singapore for the global Tourism industry. The new stablecoin is an attempt to tap into the multi billion dollar sector and remove major hurdles by cutting fees for currency transactions, conversions and ensuring ease of payments. The BPC is a USD pegged digital currency that aims to keep it stable for a long time and therefore help increase mainstream adoption and reliability, something regular stablecoins have failed to provide so far. 

While the Tourism industry is growing steadily around the world, persistent problems remain due to the use of conventional ATM companies and banks that slow down things and charge a heavy premium. The Backpacker Coin aims to eliminate these issues and help offer a global digital payment system that works for all. 

The Launch Day- 7th July

The much awaited Backpacker Coin was launched in a brief yet impressive ceremony in Singapore on 7 July 2019. The launch offered various insights into the stablecoin project. The venue was The Metropolis Tower Two 11 North Buona Vista Drive, Singapore, Singapore. 

Separate concurrent events were also organized around the world in Australia, United Kingdom, USA and other parts of Asia as well to launch the new platform at the same time for users around the world. Countries from all six habitable continents rely heavily on Tourism these days and the BPC is optimistic to tap into the wonderful potential of stablecoins at grassroots level in these countries.

In addition to local members, selected promoters, worldwide ambassadors and influencers also attended the project launch. 

Stabilizing the Stablecoins

According to the lead presenter of the project BPC was one of the pioneering stablecoin projects in not just Singapore but also in the world. Facebook’s Libra is jumping on the stablecoin project months after the phenomenon took over the world. The project also aims to maintain the native BPC coin at $1 for the next 30 months which will be an impressive feat considering the fact that USD Tether, Gemini Coin, USD Coin and other major stablecoins have failed to completely peg their coin to the Dollar with the former also running into considerable issues with the SEC regarding Dollar liquidity in its accounts. 

The BPC is a project of DAMO; the first decentralized autonomous meritocratic organization in the world. The organization uses blockchain technology to use a secure ledger to track, verify and speed up digital transactions thanks to a new concept called “timestamp” that every member can check. 

The project has no central authority and the transfers are ensured by a consensus-based approach which lends credibility to the system. 

The Grassroots Approach

The BPC has been in the pipeline for the last eight months according to the lead presenter at the event. The focus of the project is not just to get people to invest in the stablecoin project but also engage the community at the grassroots level around the world to increase awareness and highlight the positive impacts of digital currencies and BPC itself in the Tourism sector. 

Now Offering Enterprise Management Incentive (EMI) Options

BPC is proud to offer EMI for investors and other stakeholders in the new initiative. They are offered tax advantaged share options within a particular company with no need to pay the tax on increased value on these shares. The big news was also announced by the Backpacker Coin presenter recently and outlines the ambitious initiative that the group is working on.

The Future

According to the roadmap of the stablecoin project, the platform will spend a substantial part of 2019 to research Proof-of -Concept (PoC) pilot platform in line with its uploaded whitepaper. The last quarter of the year will see public and seed funding for the project.

Posted on July 7, 2019
Backpacker Coin Launching Soon with Exchange on the Cards

Backpacker Coin, a Singapore-based USD-backed stablecoin project is back and will be available for users in the near future. The futuristic and practical stablecoin allows users to spend money in a borderless manner all around the world without the need of using intermediaries like banks who charge exorbitant fees and are restricted geographically. Backpacker Coin as the name suggests is especially useful for the backpacking and touring community around the world and their demands of a borderless yet stable currency have now been answered with our revolutionary platform. 

In the latest update to the USD-backed stablecoin project, the company behind Backpacker Coin has announced in-house real-time testing of the new project. More details will follow once the initial test of the platform is complete and the findings can be shared with the shareholders and the early bird investors in a transparent manner. Due to the excellent feedback from the investor community and our users, the Backpacker Coin’s upper limit is set to be increased with more incentives for miners to come and join the decentralized project.

The Backpacker Exchange Announced

The Backpacker coin has also announced the development of a new cryptocurrency exchange where the backpacker coin and other fiat and cryptocurrencies can be traded professionally. The work on the exchange has begun and the investors will be apprised fully of the development in the near future. 

Cryptocurrency exchanges are rapidly becoming the largest day-to-day public trading platforms in the world. Binance, Coinbase, and Bitstamp, three of the largest cryptocurrency exchanges in the world handle more than $1 billion worth of trades every day on their own. It is a fast growing industry that is also incorporating other trading sectors like forex and bullion trading. Soon, gold-btc trading options will also be available for users around the world.

Backpacker Team aims to take advantage of this situation and come out with an innovative exchange of its own. While the project is currently being kept under wraps for secrecy, users can be confident that great things lie in store for the future. 

We take this opportunity to thank all the people involved in our amazing project from potential users, investors and crypto enthusiasts. With the increase in blockchain-based businesses around the world in general and Singapore in particular, Backpacker Coin aims to be the future of excellence and profitable investment.

Posted on September 24, 2019
Blockchain Startups Raising Huge Investment. Invest Now in Backpacker Coin

Blockchain startups are attracting solid investment from around the world. Recently, a blockchain security startup called CoolBitx raised over $16.75 million in a series B funding through SBI, a venture capitalist firm in Japan. The startup is now looking to expand across the world. The startup joins a long list of crypto and blockchain platforms raising serious money at investment rounds.  

The world is now interested in blockchain and cryptocurrency related projects more than ever so it is the best time to invest and become part of promising startups from around the world. While the wave of short sighted ICOs is now over, it is time for the concrete crypto startups to take over and make a name for themselves. 

The Backpacker Coin (BPC) is a solid crypto platform. It is a payment enabler that is focusing on the worldwide tourism industry including the smaller backpacking community within it. Based in Singapore, the platform has real credentials that will change the way payment is made by the travel industry in the near future. The promise is simple:

1. Pay remotely and effortlessly through BPC Coin, a stablecoin pegged to the $1 value. Backpacker Coin remains the only coin to offer $1 stable value to its customers rather than unstable values 

2. Have a universal regulatory approved payment platform that one can use anywhere, anytime. 

The struggle for a universally payable currency and method is never ending. Regular cryptocurrencies like Bitcoin have limited acceptance while cards have high fees and limited functionalities. The Backpacker Coin is aiming to become a real world alternative to both systems. Using the blockchain-based stablecoin feature, BPC will ensure seamless transactions with $1 stable value with less transaction fees and such. It is important to understand that other stablecoins never offer true $1 value. USDT, USDC, Paxos and others offer “unstable” stablecoins and their value can change upto 3% in a single day. No platform has a solution to this unstable USD-pegged coins currently flooding the market. 

Backpacker Coin aims to end this by guaranteeing a stable value for every user around the world. Backpacker Coin is also looking to be compliant with all the regulatory requirements of governments and will ensure systemic compliance on all protocols. By offering a hassle-free regulatory approved solution, Backpacker Coin is the real deal!

Become a part of the Backpacker Coin Revolution Now and support the development!

Posted on February 28, 2020
Backpacker Coin Announces 2.0 Update Including Groundbreaking Changes in Supply and Consensus Algorithm

The Backpacker Coin project has announced a new update on the development of the cryptocurrency project. They include a shift from Proof-of-work mining approach to a Proof-of-Stake one, changes in supply and several other updates to help bolster the future of the cryptocurrency’s footing for the future.

The Backpacker Coin is a new stablecoin project that envisages a truly $1 stablecoin price. The developers first promising a stable $1 value and these coins can be mined as well. It is a revolutionary project and therefore, the developers are  working round-the-clock to be able to actually make it work, something that hasn’t been achieved till date.

Major Changes

The more significant changes in the cryptocurrency’s working include the update of its underlying algorithm, reduction of total supply, 20% pre-mined coins, controlled release of new supply and of course the migration from Proof of Work to Proof of Stake mining.

Previously, the Backpacker Coin used the Script algorithm for its consensus protocol. It was mostly derived from the working of Litecoin network which has perfected the Script-based system for a while. But, even with Litecoin’s system, the ability of big miners to have some control over the mining exploits and thus the network’s supply has left the system wanting. So, the Backpacker Coin was shifted to the X15 algorithm. The X15 is a combination of over 15 algorithms to reduce the influence of ASIC miners further.

This new approach will have cut the transaction time in half from 2-4 minutes to 1-2 minutes, ditch a specific transaction fee for a more dynamic arrangement and be available in Web, Android, Windows and Linux. The iOS option will not be available for the time being.

4 million BPC coins will come as pre-mined and a further 16 million BPC will be up for grabs for miners bringing the total hard cap to 20 million BPC. Previously, approximately 1 billion coins were expected to come pre-mined and over 1.5 billion BPC were expected to be available for miners bringing the total number of coins to 2.5 Billion BPC. This dramatic shift was announced by the developers to help post sustainable progress as a stablecoin.

New Mining Reward Details
Mining awards are as under:

Block 1 to 100 : Premine 4000000

Block 101 to 400100 : Reward 5 BPC per Block

Block 400101 to 844544 : Reward 4.5 BPC per Block

Block 844545 to 1344544 : Reward 4 BPC per Block

Block 1344545 to 1915972 : Reward 3.5 BPC per Block

Block 1915973 to 2582638 : Reward 3 BPC per Block

Block 2582639 to 3382638 : Reward 2.5 BPC per Block

Block 3382639 to 4382638 : Reward 2 BPC per Block

Block 4382639 to 5715975 : Reward 1.5 BPC per Block

So, crypto enthusiasts and early adopters from around the world can become a part of the Backpacker community and join an early bird program of a new, promising project right when it is about to take off in the near future.

Posted on March 28, 2020