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A safer, more innovative form of currency for inmates housed in the U.S. prison system.
Concoin is a stable, decentralized, digital currency intended for the nearly 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.
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.
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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.
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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.
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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.
James Dzurenda
Nevada Department of Corrections Director
Heidi Lackner
Warden, Sierra Conservation Center
Ron Davis
Warden, San Quentin State Prison
Joe Lizarraga
Warden, Mule Creek State Prison