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<nettime> Universal Dividend based cryptocurrency
olivier auber on Sat, 30 Sep 2017 13:50:02 +0200 (CEST)


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<nettime> Universal Dividend based cryptocurrency


Here is how the Ğ1 Web of Trust (WoT) is growing since March 2017. Ğ1 is an Universal Dividend (UD) based cryptocurrency emulated by the Duniter blockchain engine (UD is kinda Basic Income). The fact that Duniter uses the WoT system makes it possible to limit the distributed computing resources needed by the blockchain while allowing maximum security and respecting the integrity of the persons (no third party nor biometry needed). The monetary creation is carried out at the level of each member according to laws understood and accepted by all, allowing to control the global mass of money in a way that is respectful of current and future generations (*). For technical reasons, the WoT of Ğ1 is limited to 16,000,000 members. Other similar clusters Ğ2, Ğ3... Ğn could be created. They would all be interoperable through crosschain interaction like any other cryptocurrency. Of course, Duniter is a free software. Contribs and forks welcome.

(*) According to the Relative Money Theory (RMT): UD(t+1) = UD(t+1) + c² M/N 
where M = monetary mass, N = number of members.
That induces a growth converging up to ~10% /year.

More information below the video.
https://youtu.be/BjR-7nNEA1o
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