A better, smarter, safer form of currency for inmates housed in the U.S. prison system.
Concoin is a stable, decentralized, digital currency intended for the 1.2 million prisoners housed in state and federal prisons throughout the United States.
Concoin makes it possible for inmates to send, receive, store and trade digital representations of the U.S. dollar. It’s designed so that every prison around the country can see the money flow within their prison walls for the first time ever – generating an almost unprecedented level of visibility.
Concoin has no single owner; the token holders own Concoin. The software behind Concoin runs across a decentralized, open network and can handle millions of transactions daily.
Like Bitcoin, Concoin relies on the blockchain to keep the network in sync. Concoin is 1,000 times faster, more cost-effective, and safer than the current, outdated prison financial system.
Convert US&ON to equivalent U.S. dollars at any time. Concoin offers unparalleled assurance to customers that their US&ON is backed one-to-one by the dollar.Learn more
A community of US&ON token holders will govern the smart contracts that will power Concoin. This will consist of state agencies, prison officials, and inmates across the country.Learn more
95% of US&ON reserves will be held by the Department of Corrections in cash and cash equivalents, meaning that customer funds will always be kept safe and available for redemption – no matter what.Learn more
As soon as Concoin is implemented into the prison system, both Concoin and each state using Concoin will report 100% of their reserves every month.
A third-party accounting firm will verify that the supply matches the reserve accounts comprised of U.S. dollars and any other instrument allowed under the Stablecoin Transparency Act.
Nevada Department of Corrections Director
Warden, Sierra Conservation Center
Warden, San Quentin State Prison
Warden, Mule Creek State Prison