EquaCoin empowers Coin holders with democratic economic rights
EquaCoin gives the power to decide on prospective projects to it’s coin holders
The self-explaining name comes from the synthesis of ‘Equality’ and ‘coin’. The EquaCoin is building innovative monetary instrument whose aim is to be better than of previous experiments like fiat currency. In particular, we focus here to the monetary policy of issuance of the currency and the way it is distributed. Aside from the fact that EquaCoins will be bought and sold in exchange for other currencies and cryptos, the issuance mechanism is governed by a democratic consensus from the public that is composed from the people who have downloaded the APP of the EquaCoin wallet for smartphone. This wallet will be available on or before November 3, 2017, just in time for the initial Crowdsale. Each owner of the wallet has a voting right in the EquaZone. The EquaZone is a social platform available through the wallet to propose and vote any economic projects. Imagine a group wants to form a start-up and lacks the funds. It can propose the project to the EquaZone together with all the details, like business plan, pictures, videos, etc. and all the users of the EquaCoin wallet can cast a vote to the project. When a majority of the voters is reached, at the end of the voting time, the project is approved. The system creates the new EquaCoins necessary to finance your project and the platform will form a partnership were the 30% of the project is allocated to the EquaZone. The project will retain 70% ownership and receive the funds to start operations, for free. Yes, no loans or interest, or collateral is needed. The risk is shared between the project and the EquaZone. If the project is successful, it is a win-win. Else there will be no profits and the project is abandoned. Obviously, there will be a mechanism to filter out the projects at the time of proposal and this mechanism is human in the first stages of the operation but will be fully automatized in the 24-36 month after the November Crowdsale.
The funds are paid by the new creation of EquaCoins necessary to cover the costs. The monetary policy is driven by democracy and it is to the people to decide where to allocate new money.
Embedded in the algorithm is right to free exchanges: all the fees for transactions – either inside or outside of the EquaCoin system – will be paid for by issuing new EquaCoins. The users will not have to bother with calculation of fees, the payment will be automatic and governed from the smart-contract that govern the payment of fees. And so on. This economic democracy is decided by the public for each case and it is automatically enforced by the system. As the EquaCoin is accounted for as a revenue in the EquaZone, at the time of creation, there is no debt for the system and it can go on and develop as the people casting votes so decide.
As an early adopter in this new concept, Hub Deals Corp. has acquired One Hundred Million EquaCoins and will begin to accept EquaCoin and other crypto currency shortly. EquaCoin empower the people with democratic economic rights, something that is very new in our contemporary society EquaCoin is the perfect quiet weapon for winning democracy and it can be backed by the UN facilitating peace everywhere in the world.
Marco Saba, CEO
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