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kvartalo - docs

cryptocurrency system for neighbourhoods


This document is an ongoing process, that will be improved through collective debates and consensus.


  • eur is euro
  • kvt is the kvartalo token
  • entity / entities are the organizations/associations that participate


  • value 1:1 with eur
    • tokenized eurs
    • with possibility to unlink the value from eur in the future, but for the moment is a fixed rate
  • token creation
    • each entity that will participate in the experiment, says which quantity of eur will be able to block
    • each entity 'blocks' / 'frozes' that quantity of eur, and receives that quantity in kvt. That action is a trusted action, as the entity is a trusted entity by the ecosystem
      • in this way, all the kvt quantity of the ecosystem will be backed up with eur
    • to adquire kvt people can go to one of the entites that participate in the experiment, changing their eur for kvt
    • a person that have kvt will be always able to change them back to eur
  • a multisig owned by the different entities manages the suply of kvt
    • when a new entity want to go in, will hold the eur and will receive the same quantity in kvt that are created (minted) by that multisig
  • no money value is created in any moment. All the kvt are 'tokenized eur', in other words, the kvt are representations of real eur
    • all the inputs and outputs are always equal


  • deployed over a Ethereum PoA

More details in




Usability tradeoffs for the first version

  • common addresses limited to maximum of 20kvt
    • it's a low amount for the first phase of the experiment
    • to avoid acumulation and risks
    • 20eur is a typical amount that people have in their pockets in a 20eur bill format
  • shop addresses will be able to hold more kvt, as they will need to accumulate the transactions of the payments
  • a proposal could be that the products selled in kvt will have some kind of % discount, to incentivize the use of kvt instead of eur


  • for each transaction, there is a 1% fee
  • each month, the people using their wallet will be able to vote in which social cause will go the fees of that month
  • in this first phase, to avoid cheating, only addresses with more than a threshold kvt amount during X window time, will be able to vote
  • kvt from fees will go directly to the address decided in the votation
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