Introducing Fiat Mining

 
May 25

Today we unveil how our exclusive Fiat Mining (FIMI) process works to benefit consumers and small businesses.

The introduction of FIMI also comes with another world first, a currency for duplex transactions. While normal cryptocurencies or other virtual currencies are meant to replace fiat currency, Goodomy dollars are meant to work with purchases in fiat currency.

Rather than attempting to create an economy from scratch – as other cryptocurrencies are doing – we decided that using Goodomy to piggy-back on an existing economy would be far more effective. It also happens to be the largest market in the world: the consumer retail market. This exclusive and patent-pending methodology is what sets us apart from every other cryptocurrency and could allow Goodomy to scale exponentially to potentially dominate the field.

Using the Goodomy platform, buyers and sellers can reward each other with Goodomy dollar for purchases made outside the system with fiat currency. They can do this with two types of transactions: Sales and Bonuses.

A 'Sale' transaction is the first part of the FIMI process. It allows consumers to reward businesses that place their goods and services on sale. In this way a business can generate a supply of Goodomy dollars to reward customers in the next step. With Sales transactions consumers can get unbelievably low prices on stuff, while businesses get the fuel they need for more cash flow.

A 'Bonus' transaction allows businesses to reward consumers that purchase items at their regular price, generating greater liquidity and cash flow for the business. With Bonus transactions, consumers get Goodomy for stuff they would have bought anyway, while businesses gain an advantage over their competitors.

With this two-part FIMI process using duplex currency transactions, Goodomy's is self-perpetuating. Consumers reward businesses with Goodomy dollars, who in turn use it to reward other consumers. 

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