MRC is today announcing the arrival of ‘ConservativeCoin’, an Ethereum-based token aimed at encouraging grassroots activism within the UK conservative movement.
ConservativeCoin (symbol: CON) will be controlled by MRC and has not been endorsed or supported by the Conservative Party (UK) in any way, shape or form, though we will be seeking to gain some sort of recognition as part of the coin’s journey. Maybe. If they like.
The concept behind ConservativeCoin is relatively simple. Activists earn ConservativeCoin for carrying out activism for the conservative movement. It’s a bit like a points system.
A ConservativeCoin holds no monetary value, and is not currently accepted anywhere, so for now activists can simply accrue ConservativeCoins like points. We are working with partners to decide what ConservativeCoin can be used for in the future.
At the moment MRC will dispense all tokens according to the following dispensation rules. ConservativeCoin works to 4 decimal places.
- Attending a campaigning session: 0.0500
- Delivering a bundle of leaflets: 0.0250
- Attending a Rally: 0.0250
- Stuffing Envelopes (Session): 0.0100
This list isn’t exhaustive, and we would encourage members to help us update it as we evolve. There are 10,000,000 ConservativeCoins available, which should keep us going for a while!
It is not currently possible to spend ConservativeCoin anywhere. An earlier version of this post suggested ways that a local association may wish to accept ConservativeCoin, but we felt this was too broad a discussion for this page at the moment. At present, therefore, it is only possible to accrue ConservativeCoin for use at some point in the future, which we are working with partners to figure out.
To hold ConservativeCoin you simply need an Ethereum-based wallet. You can get one from MyEtherWallet for instance. To load your CON tokens you then need:the Token Contract Address which is:
- Token Contract Addres: 0x2E7cAa7BE65A3efB51Fc2018149D98ED1e62Bb54
- The token symbol which is: CON
- Decimals: 4
You can see details of the Token on Etherscan here: https://etherscan.io/token/0x2e7caa7be65a3efb51fc2018149d98ed1e62bb54
Be sure to look after your ConservativeCoin using things like 2-factor authentication for your wallet(s).
Frequently Asked Questions/Assumptions
Who dispenses/owns the token?
The dispensation of tokens is handled by MRC, not the Conservative Party, which does not endorse and has no association with this token at all. This is a 100% unofficial token. All tokens are dispensed by MRC to encourage activism.
Who can accept the token?
Anyone can technically accept the token if they wish, but there are currently no known places that accept ConservativeCoin as payment for anything.
Does the token have a monetary value?
No. There is no monetary value associated with the token. 1 ConservativeCoin has no real world financial value.
Is there any financial investment required?
No. There is no financial investment required in ConservativeCoin.
Is ConservatveCoin mined?
No. All 10,000,000.0000 coins have already been generated and just need to be dispensed.
Does ConservativeCoin have its own Blockchain?
No. It uses the Ethereum blockchain. It’s an EC20 token.
Is ConservativeCoin a Payment?
No. It’s an Ethereum smart contract and doesn’t constitute a payment as there is no exchange of monetary value from one party to another. At present, there is nowhere to ‘spend’ ConservativeCoin either, they can only be accrued and held for use at some later stage.
Updates to this post: An earlier version of this post talked about ways that ConservativeCoin could be earned and spent, and this led some to believe it is a form of payment. We want to make it clear that ConservativeCoin is in an ideas stage and we are listening to feedback, and so we have heavily edited this page to make it clearer that ConservativeCoin is not a form of payment and will be a just-for-fun token. We’ll figure out what to do with it later.