While fiat money has defined and proved economic standards for hundreds of years already, the situation with digital money is different. Digital money is a high-risk investment with unpredictable value and disappearing development teams leaving orphaned blockchains. Governments identified this problem and Initial Coin Offering (ICO) regulations will solve it in the next few years. Moreover, the digital currencies, which implement unique blockchain features, have a high probability to define the future standards of digital money. Galilel will be part of this process through implementing the unique features outlined in this paper.
Galilel Coin is a community driven crypto currency with full transparency and utilizing a public development method. The trust relationship between investors and the project team is the key to success. Therefore, we have created a GitHub organization named Galilel-Project , which tracks all our development activities in public repositories including all our backend code and passed Know Your Developer (KYD)3 public verification. The project uses mostly MIT4 , GPLv35 and CC-BY-NC 4.06 open source and open content licenses. The translation and localization uses Transifex7 platform.
Galilel Coin (GALI and zGALI) is an open-source public and private Proof-of-Stake digital crypto currency for fast (using SwiftX), private (Zerocoin8 protocol) and secure micro transactions. Our main goal is to create a decentralized fully secure and anonymous network to run applications, which do not rely on any central body control. By having a distributed system, thousands of users will be responsible for maintaining the application and data so that there is no single point of failure.