The Merito (a merit in Esperanto and a sister of Monero) is a cryptonote used by individuals in organization, as a point to reserve or reward, which is exchangeable also between individuals from different organizations, if the individuals are members in one network (a MeritoNetwork):
- To become a member in a MeritoNetwork, one must introduce her/his handle of authentication (at least as hash of their iiaom);
- The miners of Merito may be the organizations or individuals in the MeritoNetwork;
- The iiaom can also be used in the ring signature system for the voting in the proof of work mechanism of the Merito;
Ask your tax adviser what tax should be payed when exchanging Merito for money.
http://communal-coin.wdfiles.com/local--files/main%3Astart/Merito.lu.pdf