martedì 12 settembre 2017

Back to Democracy using the Blockchain

Back to Democracy using the Blockchain and a bit of Aikido

The democrat creation of a new crypto-currency named EquaCoin will consent people to breed an EquaZone to recover its sovereignty usurped by commercial banks during the last century.

In a book dated 1976 the Nobel Laureate Friedrich August von Hayek introduced a new paradigm into his vision of a libertarian economy: the establishment of competitively issued private moneys. The book title was “The Denationalization of Money” followed, two years later, by a revised edition titled “Denationalization of Money: The Argument Refined” [1]

A first purchase of EquaCoin using Bitcoin on an open-blockchain platform

Nowadays the blockchain technology consents to conceive a world with literally thousands of currencies, backed by individuals as well as private organizations, absolutely unimaginable at Hayek’s time, but with a revolutionary potential able to change the world.
But … wait a moment, am I writing about a new libertarian paradigm, able to further reduce democracy and people rights ?
Well, NO. I’m talking about the Japanese martial art of Aikido’s irimi, turning movements that redirect the opponent’s attack momentum.
As the south European citizens should have well understood, the Libertarianism is only a fashionable method to steal the people sovereignty and in particular the Monetary Sovereignty.
The Euro currency, much more than the Dollar, is a way to rule citizens with no care for democracy and, now, it is time to recover what has been so unfairly subtracted, it is time to introduce a new currency able to circumvent the technocracy, recovering the stolen democracy.
Taking also count of the recent evidences due to the work of Prof. Richard Werner [2], the Italo-Swiss economist Marco Saba conceived a new economic area, named EquaZone adopting a new currency, the EquaCoin.
In despect of the above definition, it is my opinion, that the EquaZone is far away from a mere economic area, it is a concept that is much more close to a “New Nation” than a simple market. The EquaZone will be the country of EquaCitizens, people able to work and generate income without the constraint of a territory.
The EquaZone citizens will have a total democratic control on the currency emission, and will be able to vote for any project financed in EquaCoin.
To achieve that result, each EquaCitizen will have a wallet with biometric access. In addition, following the statutory rules, the EquaCitizens will also be able to change their governance, always via a democrat poll -
In brief the EquaZone covenant will be:
A revolution for crypto: 1 Head = 1Vote
Project Financing approved by qualified majority
Zero Interest on financed projects
Participation of the EquaZone in the financed project
The EquaCoin will be pre-mined coins and apart the needs for the project realization, implementation and control, they will be released to finance projects democratically approved. It will be needed to own only one coin to have access to an election platform built using a blockchain — It is clear that the EquaZone will grow indefinitely untill there will be good projects to be financed, and will have an explosive potential in terms of regained democrat control over the money emission —
(First article of a serie)

[1] Denationalization of Money: The Argument Refined — F.A. Hayek — 1976 — Courtesy of IEA — The Insitute of Economic Affairs (1990).

[2] A lost century in economics — Three theories of banking and the conclusive evidence — Richard A. Werner — Centre for Banking, Finance and Sustainable Development, Southampton Business School, University of Southampton, United Kingdom- International Review of Financial Analysis (2015)

Further online resources:
How do banks create money, and why can other firms not do the same? An explanation for the coexistence of lending and deposit-taking — Richard A. Werner — Centre for Banking, Finance and Sustainable Development, Southampton Business School, University of Southampton, United Kingdom — International Review of Financial Analysis (2014)

1 commento:

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