Hello Masterminds,
My name is Martin Schaeferle, and I’m the CIO of MerchantCoin, the first self-sustaining, marketing centric crypto-currency that incentivizes consumers, advocates and businesses to acquire and use Bitcoin. I am writing this blog from Raleigh, NC at the Cryptolina Bitcoin Expo where we are exhibiting along with many others in the Bitcoin ecosystem. The energy in the convention center is palpable and driving many excellent sessions and panel discussions. Also in attendance here is Shannon Code, one of Mastercoin’s very talented developers and evangelists, who will be presenting a session this afternoon—a must attend.
So why did MerchantCoin partner with Mastercoin? There are several key factors we considered which ultimately led to what has become a very successful enterprise.
Master Protocol
MerchantCoin needed to launch its coin and considered various options including the possibility of creating its own blockchain. What attracted us to Mastercoin is the commitment to supporting the Bitcoin community, to drive further adoptions, and strengthen the Bitcoin network and miners. That is a position that aligns perfectly with MerchantCoin. We, too, are also about the promotion of Bitcoin and the need to strengthen the ecosystem that surrounds it. The joining of companies and foundations to a common cause can only strengthen one another and everyone benefits.
Wallet
MerchantCoin will be launching its wallet shortly which is a joint effort with Mastercoin’s Omni Wallet. We needed to get a wallet released quickly to meet our aggressive schedule and after meeting the Omni Wallet team: David, Craig, Judith, Marv, Adam, Shannon and Faiz, it was clear that by leveraging their hard work and teaming together that we could not only meet our goals, but have a powerful, state-of-the-art wallet as well. Our wallet will be available soon from our Website at http://www.merchantcoin.net
Rapid Launch
MerchantCoin needs to hold a crowdsale and history has shown many examples of poorly executed events. Crowdsales are critical to the success of any crypto-currency and we needed to make sure it was smooth and engaging. Mastercoin with their Master Protocol provided us not only the tools for a successful crowdsale but also the coaching and mentoring so we can focus on getting our message out to the street and educating merchants and investors on our vision.
Credibility
Mastercoin was the brainchild of J.R. Willet who launched his whitepaper over 30 months ago. Since then, Mastercoin has been an influential player in the Bitcoin community and has spearheaded many new innovative technologies including its revolutionary work around extending the Blockchain. With legacy comes wisdom; and with all the successes and failures surrounding crypto-currency launches, MerchantCoin could not afford to go it alone. Through our relationship with Mastercoin we are confident in our infrastructure and look forward to successful launch in late September.
Well I’ve almost missed my lunch break and the afternoon sessions are about to start. Signing off for now…
Cheers,
Martin Schaeferle
CIO | MerchantCoin
Omni 
I read this story and at least my understanding is that MerchantCoin is built on top of MasterCoin. Is this correct? What are the unique benefits for MerchantCoin?
I am delighted for you. You will find the team don’t only talk the talk, but work like demons to make sure you are OK. You will have less errors than us 🙂 But any mishaps it is good to know there are people who have your back. That team do and we showed even under extreme circumstances can make your job much easier. Well done and the very best of luck with it all.