The Rise and Rise of Social Coins
August 27, 2017
A new hope
Never before in history mankind had as much available computing power, and also never had as much available human intelligence we have now - over 7.5 billion human brains. How come we are still very primitive in several aspects of life? The reason is trivial. Most individuals are not contributing at all for this global community we happen to be now, they are unfortunatelly marginalized by the system. To better illustrate the problem:
- 40% of mankind lives with less than 2.5 dollars per day;
- 80% of mankind lives with less than 10 dollars per day;
- only 1.73% of mankind are satisfied with their jobs.
Source: Singularity Global Summit 2017.
Back in 2009, when bitcoin was quietly born in the form of an innocent whitepaper, people didn’t realize its disruptiveness. In fact, most people still don’t. Bitcoin permanently revolutionizes the world because of the digitalization power it presents. Although digitalization is a broad term, comprising many technological breakthroughs, the strong pattern emerging is that it promotes otherwise marginalized use cases and people to participate in harmony within society. The iterative process strongly blows the sails of the circular economy windmill - the main propeller for cryptocurrencies explosive growth.
Is there a way to boost the nascent contributions of these use cases and people sooner?
Organizations and governments have struggled with a variety of means for the last centuries. Corruption, lack of transparency, inneficiency and insufficient funds plague the process. And that is exacly why the strongest instrument for social inclusion so far was a recent invention from a pseudonimous person or entity who, together with the community, gave birth to the first social coin, the Bitcoin. How productivity would be if 99% of mankind were satisfied with their jobs?
That is impossible!
Some will say. I believe it is no only possible but the next generation can already achieve it, our kids and grandkids. And here is why.
The power of the circular economy
Linear economy considers a narrowly defined production model and analysis to maximize profits - only financial dimension. In contrast, circular economy takes into consideration all possible dimensions related to a given activity. It is a multi-objective optimization process where every dimension is measured and controlled to achieve multiple positive outcomes. In that sense circular economy is more powerful and forward thinking than the former linear economy. An entity that seeks only to maximize the outcome in a single dimension is deemed to fail. The reason is dimensions reflect on each other. A person, for example, most likely won’t be happy scoring greatly on spirituality and terribly on health, as the key for happiness is rather a balance on all dimensions. More happiness then boosts the positive outcome on every single dimension as a fortunate consequence. In this regard there is a clear indication that the investment done in the worst performing dimension has greater net impact. The circular economy development process involves accounting for all the relevant dimensions, simulating and taking action, and measuring impact. It is an iterative process where the outcome of the initial actions are translated into stronger actions able to drive greater impact next round. And naturally, as a consequence, compounded growth is achieved. In other words, circular economy’s power lies in the potential multi dimensional controlled growth achieved with the application of its concepts.
Boosting circular economy to a whole new level
Bitcoin divided the history in two, before and after, and has increadibly transformed the landscape in several relevant dimensions enabling one key pillar of the future society: decentralized finance.
But there is a derived technology from Bitcoin that can have much greater impact on circular economy - Ethereum. It enables another key pillar of the future society: decentralized law. I don’t mean here just the regular law as we know it, but the law as the universe knows it. Researchers are constantly discovering new laws and relationships that rule the universe. With a better understanding of these laws, predictions of the future are more fit. Likewise circular economy researchers are finding new mechanisms that can be coded into laws, through smart contracts, to grow faster in a more predictable and sustainable way. As the scope of circular economy can be too wide to properly address all possible dimensions, breaking down social coins into categories is handy. Each category of social coin then has its own ecosystem and is independently driven by its rules focusing on solving a given family of problems. Ethereum Classsic, besides decentralized law, works hard to also enable the most important pillar of the future society: decentralized governance. Are also pillars of the future society, decentralized communications and decentralized production.
CCEG now supports Ethereum Classic
We are currently preparing for a small UK£ 5m ICO seratio-coins.world which meets our needs. We have stated that any raise beyond this we would act as a foundation and support worthwhile SDG compliant causes. We think ETC represents this and would be happy to support the work here to a maximum level of UK£ 1M.
Olinga Ta’eed - CCEG director
The Centre for Citizenship Enterprise and Governance is an independent not for profit research think tank and policy institute concerned with the development and use of social value metrics as a measure to promote a just, prosperous and sustainably secure global society.
Seratio is the hosting platform for the social coins ecosystem, say the enterprise ship. And the social coins will be launched by the plaform and will be compatible to transact with its infrastructure. They are kind of independent in the sense states are inside a country. But there is a healthy federation that helps states to succeed in a better way.
Besides the financial support mentioned above CCEG is looking forward to deploy the first 3 social coins to Ethereum Classic network.
We would be happy to place our next 3 ICO’s on ETC, out of a dozen commissioned, as long as our partners are agreeable