PINTATOKEN, The flavor of the PNT, how we went from the gold standard to fiat currency and now to the gastronomic token

A Gastronomic Currency

The global economy has undergone various transformations from the use of the gold standard to the implementation of technological innovations in the financial sphere, such as digital wallets and, more recently, blockchain tokens. PINTATOKEN, an innovative blockchain-based token, represents the latest evolution in this development chain, providing a modern solution to the challenges of adopting Web3 technology. The project was launched in the spring of 2022 and survived the crypto winter because its essence differs from being merely a crypto. Yes, as a token, it is still a crypto, but it is not a stablecoin or a payment currency for network usage like ETH or MATIC. It is currently a currency for exchanging beers; 1 PNT token corresponds to a pint for the common person, a generous glass of beer. However, for the creators of PINTATOKEN, it is much more than that; it is more than just a glass of beer. It is a means of exchange and a store of value for any gastronomic product, where a lunch could be 2.3 PNT, a cookie 0.8 PNT, and so on. So, what would be the difference between 1 PNT and, for example, 1 dollar or 1 Euro? Well, the PNT are created by businesses that can provide you with the products, while fiat currencies are backed by reserves in central banks. Without complicating this explanation too much, they essentially serve the same purpose for me: to buy a product and consume it. Easy, right?

The Evolution of Payment Methods

For centuries, the gold standard served as the benchmark for trade and international transactions. Under this system, currencies were backed by a fixed amount of gold, providing stability and trust in economic transactions. However, this system had limitations, such as dependence on gold reserves and rigidity in monetary policy.

Over time, the global economy migrated toward more flexible systems, such as fiat currencies, which are not backed by physical assets but by trust in the issuing governments. Simultaneously, the digital revolution brought digital wallets that allow users to store and transfer money electronically. These wallets have facilitated global trade and the adoption of modern payment methods, but still face challenges such as security and interoperability.

The Blockchain Revolution and Tokens Functioning as Money

Blockchain technology, introduced with Bitcoin in 2009, marked a turning point by offering a decentralized and secure way to conduct transactions. Blockchain-based tokens have diversified the applications of this technology, allowing the creation of unique digital assets and smart contracts. From that point on, payment methods were no longer necessarily from central banks or credit companies; they could come from any business or even from a group of individuals. For what we call the average citizen, some of these are incomprehensible as to why they are valued as they are, but I won’t delve into the fundamentals of each crypto or each token, nor how they operate, as I will write about that in another article. Simply put, for the case of this article, as I mentioned earlier, the functions of some tokens are exactly the same as those of fiat money. 

Money, in its role as a unit of account, acts as a numerical standard that allows for measuring and comparing the value of goods and services. This function provides a stable foundation for pricing and conducting economic transactions, facilitating accounting and understanding the relative value of different products and services.

As a medium of exchange, money simplifies economic transactions by acting as a universally accepted intermediary in the exchange of goods and services. This function eliminates the inefficiencies of bartering and enables smoother and more efficient trade, expanding markets and promoting economic activity both locally and globally.

In its role as a store (deposit) of value, money allows for storing wealth and purchasing power for future use, ensuring that this value remains stable over time. This function is essential for saving and financial planning, providing economic security by allowing individuals and businesses to keep their wealth in a form that does not rapidly depreciate.

However, despite its advantages, the use of Web3 technology and Web3 wallets has presented significant barriers to mass adoption. The perceived complexity and the need to understand new technical concepts have been major obstacles. For many, and I include myself in this concept, and despite having been in this circle of users for some time, using a centralized or decentralized Web3 wallet has required a mental reset, 12-word keys that if lost, result in losing all your money, terms like public key and private key, decentralized, connected applications, investments, multiple wallets, multiple blockchain networks, multiple currencies, etc., etc., etc. One can feel overwhelmed in attempting to use these technologies. We need to continue educating about the concept and the use of these wallets.

PINTATOKEN: Simplifying Web3

PINTATOKEN emerges as an innovative solution that seeks to overcome these barriers, facilitating the use of blockchain technology for the general public. Unlike other tokens that focus on complex technical aspects, PINTATOKEN emphasizes simplicity and accessibility.

What is PINTATOKEN?

PINTATOKEN is a blockchain token that goes beyond being a simple representation of a beer. It is a currency designed to facilitate everyday transactions, leveraging the advantages of blockchain technology without the need for a steep learning curve. The PINTATOKEN platform offers an intuitive user experience, eliminating the technical complexity that often deters new Web3 users.

Advantages of PINTATOKEN

1. Ease of Use: PINTATOKEN simplifies the process of creating and managing Web3 wallets, allowing anyone to use them without needing advanced technical knowledge. Essentially, you do not need to understand the concept of a Web3 wallet; it comes included within this regular web (or web2), you simply create your account, and it creates your Web3 wallet.

2. Security: Being based on blockchain, PINTATOKEN offers an additional layer of security and transparency in all transactions. 

3. Accessibility: The platform is designed to be inclusive and accessible, facilitating adoption by users of varying levels of technological skill.

4. Currency of Exchange: Beyond representing a beer, PINTATOKEN acts as a currency of exchange that can be used in multiple contexts, fostering an ecosystem of smooth and secure transactions.

Now, be careful, don’t forget with which email account or login method you created your account, because if you forget, you probably won't see your pints again.

Market Penetration

As with many things, good things take time. The growth and penetration in the use of this type of token are developing organically through word of mouth and community efforts. Today, its Telegram community has a little over 600 users, while on X, it has slightly more than 4,000 followers, with the Telegram community being more active, engaging in daily interactions and discussions about various topics, now solely associated with the beer and crypto world. 

My Experience Using It

As I have experienced with other topics related to blockchain, crypto, and Web3, I learned about this token from a relative who owns a technology company and heard about the project in a crypto forum. Then I searched on Google and found several articles, videos, a website, and all the necessary resources to investigate further about the token. 

I decided to buy, and expecting a similar experience to other Web3 tokens, I wanted to do it the complicated way, swapping MATIC for PNT on a decentralized exchange. Just saying that makes it sound complicated. I gave up when I couldn’t do it because I was trying to swap using a DEX that didn’t have liquidity; the method didn’t exist. I changed my purchasing option and opted for a more traditional method, created my account using a Google login, and paid for my PNT in just a few seconds using Mercado Pago. Incredible! I believe I have never had such an easy experience in this Web3 world before. As expected, my inquisitive mind doubted the process, so I went to a blockchain explorer—these are portals or websites that allow you to see the transactions made on any blockchain, similar to a direct camera on a bank's accounting books. I was able to see my transaction completed and confirmed without any issues. The PNT I had in my wallet were indeed mine and were in my Web3 and Web2 wallet. I didn’t have to download an application, install a Web3 app or wallet, or create keys and store them in secret places. All I had to do was log in with Google on a web app and buy the PNT.

It was time to use them. Córdoba, Bar Patagonia, we arrived around 6 PM, the time the bar opens, to redeem my Pints (PNTs) and enjoy the moment. I approached the cashier to ask what I needed to do, and right in front of me, there was a sizable QR code ready to be scanned. All I had to do was tap the redeem button, scan the code, add how many I wanted to redeem, and in a few seconds, everything was ready. The web app showed that it had been sent, and the cashier said, it's done, I've received them. It’s worth mentioning that I have rarely seen such a simple experience using the Web3 ecosystem. I took the opportunity to ask the cashier how he viewed it, and he showed me the web application they use to verify the redemption, where I could see the last transaction made with all the identifiers and the number of pints. 

As my inquisitive mind always asks further questions, I asked about the price of the pint and checked the price at which they are bought in the app. It was not surprising, but they were cheaper in the app. Therefore, it is entirely true that it is not only a vehicle for saving and maintaining capital; it is an asset for any marketing campaign we can imagine, and additionally, enjoying those beers is incomparable. 

One last test was necessary, which was to see if I could transfer my pints to another user. Almost intuitively, we discovered that there is a button to view my user address (blockchain), and by tapping and scanning the barcode in the same way we made the payment, I transferred Pintatokens to my son, who was thrilled to have been invited and gifted.

About the Businesses

We got in touch with Nano from Pintatoken to learn more about the business model and processes for the businesses. 

This initiative was born out of the evaluation of various Web3 pitches with very few real use cases, solely focused on blockchain technology and lacking good business models. From the development of this innovative proposal, a private equity fund injects the necessary capital not only to develop the web app and smart contracts but also to provide funding and liquidity for the pre-purchase of volumes of beer in establishments with stability and consumer traffic, allowing the establishment to receive money through advance sales, of course, with a bonus associated with the volume and advance, but which also serves as collateral to strengthen trust in the PNT token. Thus, for each token in circulation, there is a corresponding beer reserved and already paid in the associated establishments. This model clearly covers and minimizes the risk of scarcity through meticulous analysis and evaluation of the participating businesses. But beyond the benefit for the business, there is also an inherent benefit for the consumer provided by Pintatoken, which shares this bonus obtained at the moment of purchase and offers a discounted price on the pints. In summary, those who buy the PNT will pay less than what it would cost to buy the same beer at the establishment.

Conclusion

The evolution from the gold standard to blockchain tokens reflects a journey of innovation and adaptation in the global economy. PINTATOKEN represents a significant step in this journey, offering a soluc

For more information about PINTATOKEN and its innovative platform, visit PINTATOKEN.