Föres Lagom Federated Currency Slide Talk. ⨊GåFöre(O⨋)The FedratedMutualSociety.⨊Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.







Före(s) = Store Of Value; Federated Mutual Savings Bonds.Lagom(s)= programmable and Customisable Means of Exchange´´Mutual Blockchain Federated credit Union´´
´´Federated Programmable Complementary Means of Exchange Currency´´
´´Federated Mutual general retirement and insurance fund’’, 
Gå före tillsammans ⨊GåFöre(O)The FederatedMutualSociety.Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.



This is a Screen Capture from  2016 of an online brainstorm with the development team for Före(s)And⨋Lagom(s)



123



Transcript (Correction in progress) Will be abstracted for Whitepaper.

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00:08
welcome to this brainstorm and mind map
00:13
for the market synergies symbiotic
00:17
leverage and the Commons ecology of the
00:23
new complementary currency that we’re
00:26
trying to design for the Swedish market
00:33
so we need to conduct some market
00:36
research down here
00:39
I think hampstead Borstad and Anglehome
00:44
for local towns and communes(Counties) larger
00:49
regional centers in this area are lund
00:52
malmö , Helsingborgh and Halmstad
00:55
and then the nearest Capital to here is
01:00
Copenhagen obviously another capital up
01:04
in Stockholm and there are regional
01:06
towns around or dormitory towns to
01:08
Stockholm Oslo and Helsinki we can talk
01:12
about the possibility of recruiting
01:16
people we know in Finland and Norway to
01:20
see if an overarching federation or
01:27
regional cooperative or club or whatever
01:33
we decided to go with can be done .
01:41
I’ve been thinking about different kinds
01:44
of buzz words for what we’ve got we a
01:47
capital coin score and a coin commune
01:50
Corinne I came up with four C’s which is
01:54
a crypto crypto complementary currency
02:00
club the four C’s we see that later as
02:05
we go through the through the slides so
02:11
effectively what I’ve been thinking
02:13
about is with the crypto currency I’m
02:16
interested in linkle der Mirage which
02:18
means the there’s lower penalties or no
02:23
penalties for spending credit sooner the
02:28
longer you hold on to it the less it is
02:30
worth now with coupled with the discount
02:37
scheme the discount in the demurrage can
02:41
be quite a powerful no cost to the user
02:46
of the currency just the benefit that
02:49
declines and it would still be one for
02:51
one we’ll come to that later use of
02:56
discount seams and a currency with
02:59
demurrage could be useful for off-peak
03:02
opening special openings for members
03:06
using the currency a payment of overtime
03:09
to star for that special opening issue
03:13
of discount coupons and competitions and
03:17
whatnot for staff within the
03:21
organizations that are using the coin so
03:25
I did a couple of conceptual diagrams
03:29
for that which we’ll come on to so the
03:33
businesses you have staff owners
03:34
shareholders customers suppliers
03:36
business memberships individual ambush
03:39
the memberships consumer users and
03:42
customer trade membership so
03:51
[Music]
03:53
in terms of the idea of demurrage what
03:59
we have here is if you spend the tokens
04:03
going this way you can see what we have
04:10
there is
04:12
demurrage so the the quicker you spend
04:18
them the higher the discount so they get
04:27
spent in the merchants to the customers
04:29
and then they can settle up with trade
04:32
creditors over here now trade creditors
04:37
and their collateral if that’s monetized
04:39
to back the spending tokens up here then
04:48
they will want some sort of compensation
04:50
for that well this the one conversation
04:52
is in the increase trade but also they
04:57
may want to use it as a store of value
05:01
and this is where the interest comes
05:06
into it so here we have interest charges
05:10
coming out here as well as payments
05:16
coming across and then that’s sort of
05:19
going up here so there’s a sort of a
05:25
loop coming back there and then down
05:30
here somewhere you probably have
05:33
customers just put
05:37
a car right very nicely with this pen
05:45
customers
05:52
initially the spaghetti took a bit like
05:56
Greek isn’t it right okay customers so
06:13
that’s what that’s about and then
06:17
looking out more widely now this
06:23
illustration I sent this yesterday at
06:24
the end of a document and then did a
06:26
brainstorm and just to explain this I’m
06:31
imagining three geographies which is the
06:38
commune’s and smaller centers have
06:40
mentioned earlier the regional centers
06:42
and the capitals so they’re all
06:47
encompassed kind of with a international
06:49
sort of Federation and then there are
06:54
sub markets for the towns learned hounds
06:57
their boss dad in Rome just as an
07:00
example the capitals Stockholm
07:03
Copenhagen Oslo Helsinki we could even
07:08
think about st. Petersburg in Russia as
07:10
well or and and indeed Hamburg one of
07:14
the ideas I was thinking of was the old
07:16
Hanseatic League and the historical
07:20
trade links between Oslo Stockholm st.
07:24
Petersburg Hamburg Lubeck I mean even
07:28
one of the Polish coastal towns there’s
07:33
a historical trading currency that was
07:39
used there I’ve actually got a research
07:41
paper on it now but but you get the idea
07:45
that you’ve got this overarching
07:47
Federation and and that they’re using a
07:50
token which they can use to keep the
07:53
liquidity between themselves and iron
07:56
out cash flow with business that they’re
08:00
doing with people outside of the
08:03
the membership of the club so to speak
08:07
other people in geographies that we’re
08:12
going to be interested in are you an
08:18
investment organizations being
08:20
government local government central
08:23
government perhaps political parties
08:27
other sort of organizations say positive
08:31
paying an hour or you know other other
08:35
maybe academics universities in fact you
08:39
know within a student body somewhere
08:40
like London loads of students or up in
08:45
Stockholm in Uppsala there’s a real
08:50
possible synergy with student unions and
08:53
things like that to to get such a
08:57
currency going especially with the
08:59
discount demurrage kind of thing because
09:02
it will you know increase the buying
09:04
power of of their student economy you
09:09
know considered quite considerably for
09:11
people that want to go into the club and
09:12
and and attract you know younger people
09:19
and build a client base as it were so
09:21
that’s the geographies and those
09:23
considerations there then there’s the
09:27
symbiotic populations within each of the
09:30
geographies so at different scales so
09:35
you’ve got businesses who retail or
09:41
dealing with the general public public
09:44
your customers over here then you have
09:46
trade suppliers so that’s
09:48
business-to-business stuff so trade
09:51
suppliers don’t deal direct with the
09:52
general public but members be kept you
09:58
know obviously will trade amongst
10:00
themselves now then there are sort of
10:03
trade associations so it’s possible that
10:10
we would promote to their different
10:11
members through trade associations and
10:15
by
10:17
doing marketing promotions and whatnot
10:21
you can issue you know a special token
10:26
which can be used in conjunction with
10:31
some of our four C’s currency and with
10:36
crona’s or whatever the fear is in the
10:38
local geography that’s something which
10:44
burn our lady a deals within in one of
10:47
the papers that I sent through earlier
10:50
so for instance for some offers or
10:58
promotions or in general a retailer may
11:05
for one week sort of say well you can
11:07
buy a whole you know we’re offering all
11:10
of our product lines for purchase 100%
11:14
in the four C’s currency ordinarily you
11:23
know maybe they’ll do that once a month
11:24
maybe they’ll do it once a year or one
11:26
week in every year other times that they
11:31
may want to sort of say well actually we
11:33
will you you can pay for a quarter of
11:37
your purchases in that kind of currency
11:41
that’s really depending on how much
11:44
trading outside of the local economy
11:46
they do and their need for that
11:48
additional fiat money the trick is that
11:53
we’re going to design in such a way that
11:57
the units are convertible back for one
11:59
for one to the local currents fear
12:05
currency much as the Bristol pound is
12:08
and so it’s the discounts and the speed
12:12
with which they get you know the
12:14
liquidity that that they offer and also
12:17
a bridging kind of liquidity for the
12:22
where where say a customer outside of
12:29
the club is paying
12:31
currency and they they take longer to
12:33
pay so there are various ways of
12:37
engineering added value into the
12:40
cryptocurrency within the symbiotic
12:45
populations so each of these symbiotic
12:48
populations exists within each of these
12:50
boxes up here now that’s the way to look
12:54
at it and then as a whole the population
13:01
has these sorts of relationships except
13:06
they’re going between boundaries which
13:12
are local boundaries regional boundaries
13:21
and then ultimately national boundaries
13:27
I’m so thinking of it that way it’s a
13:32
question of designing the four C’s
13:36
currency the complement of the crypto
13:38
complementary currency to have certain
13:42
advantages and benefits at the
13:47
microwaved of the scale up to the macro
13:50
end of the scale which i think is where
13:51
I come up to later so
14:01
at the back of my mind with all of this
14:05
I’ve been thinking a lot about loyalty
14:09
cards loyalty point schemes the
14:13
possibility of collateralizing credit
14:18
limit is limits or credit terms that
14:20
exist already between symbiotic local
14:27
businesses discount clubs privilege
14:30
cards all of those sorts of things now
14:35
there are marketing advantages and a
14:39
kind of a cryptographic discount that
14:42
can be built into particularly the
14:46
etherium blockchain and we need to be
14:49
thinking about where those possibilities
14:59
give an edge to a member of the scheme
15:04
to encourage customers to buy their
15:12
product now and kind of front-end the
15:15
purchase in the sense that they use this
15:17
very liquid local complementary currency
15:21
which really helps with the cash flows
15:24
of the local businesses so it helps both
15:28
with cash flow but also turnover and
15:30
generating more activity so part of
15:37
these points I mean I make them briefly
15:41
but part of the benefit of thinking
15:44
through these things is we can hone down
15:50
the list to a good of what our real
15:54
strong strongest points are to see where
15:57
our need is so I mean I’ve been thinking
16:03
about property purchase chains like when
16:06
when people buy a house in England for
16:08
instance usually one sale is contingent
16:13
another happening in another and
16:15
sometimes a whole deal can fall apart
16:17
because at one part of that chain
16:21
there’s a lack of funds and so you you
16:24
have the estate agents or the solicitors
16:30
if they’re any good
16:31
ringing everybody else up and down this
16:34
whole chain to see if they can get a
16:37
little bit off here a little bit off
16:39
there so that the whole so the
16:41
transaction still can go through another
16:45
way that that is sometimes done is by
16:47
bridging finance where people go and get
16:48
a short-term loan from a bank well
16:51
that’s really very very risky but the
16:54
the blockchain and the etherium
16:59
authentication thing and the possibility
17:02
of providing a centralized insurance
17:07
point whereby there’s a a service for
17:15
unblocking blockages in property
17:19
transaction chains which in residential
17:22
I’m sure they had them they must happen
17:24
in Sweden too it’s more efficient here
17:26
but but is the that that’s a potential
17:32
idea that if we were doing this as I say
17:39
a currency for estate agents in Britain
17:43
that would be a good idea and we need to
17:46
think of similar things that apply to
17:47
Sweden so I mean the other thing I had
17:54
was collective investment broking at the
17:56
end of last year I obviously was looking
18:00
at the Swedish property market and
18:02
looking at different ways of
18:04
neutralizing investment for that and of
18:08
course these are all things that can be
18:09
done but the big opportunity I think is
18:16
in Sweden with Sweden phasing out cash
18:20
because complementary currencies will be
18:23
more important than ever
18:26
when cash is phased out so obviously
18:30
we’ve looked at the word Bank in
18:32
Switzerland and the Bristol pound and
18:37
we’ve obviously got an idea now which we
18:42
need to communicate to potential members
18:45
the benefits of a complementary currency
18:48
within those local economic ecologies if
18:54
you like so I then broke it I broken it
19:05
down in my own wine to thinking about
19:07
tears of the of the coin and then also
19:13
with the weir one of the things about
19:15
the wear is that it’s not available to
19:18
international businesses or
19:19
multinational corporations and it’s
19:23
really a bank that’s aimed at small to
19:28
medium sized enterprises you know which
19:30
is great and it’s a question really of
19:34
the bigger businesses kind of actors and
19:37
that can act as an anchor to
19:39
collateralize the the complementary
19:44
currency or the cryptographic
19:45
complementary currency and if that
19:48
currency is to sort of gain traction and
19:52
value as as a money for liquidity that’s
19:57
that’s fairly easy but by having a
20:01
second tier which is based on a store of
20:05
value what I’ve my thought experiment is
20:11
to collateralize the strong credit side
20:19
from the larger longer standing richer
20:22
businesses now they benefit from the
20:24
liquidity because it helps their
20:26
customers to and speeds up their
20:30
inventory and cash flow and
20:32
what-have-you but there’s also another
20:38
potential benefit
20:39
to offer savings or loans to business
20:44
startups and the p2p b2b credit type of
20:51
thing at lower rates of interest but
20:56
nonetheless still at rates of interest
20:57
that are very competitive to those that
20:59
are available in regular regular banking
21:03
so it’s you know what we’re really
21:07
talking about is really solid annuity
21:18
type of incomes which are not high risk
21:24
so grandma friendly retirement friendly
21:32
solid investments stuff that actuary
21:36
would find acceptable so it’s a question
21:45
of leveraging that collective local
21:52
economic ecology and then as we’re
21:58
looking to sort of get an overarching
22:01
sort of Confederation of these things
22:04
and what that then does is it provides a
22:10
well a capital base from which external
22:15
benefits can be brought into the
22:18
membership from you know the the wider
22:23
world as it were but like group
22:28
discounts is this the idea behind that
22:32
by by increasing your bulk purchasing
22:35
power it gives access to economies of
22:37
scale and discounts at scale and that is
22:42
is much more possible to coordinate
22:48
through a blockchain type application
22:52
because people make the commitment and
22:56
back the commitment up and that’s
22:58
time-stamped and guaranteed and the X
23:01
crow possibilities are such that you are
23:06
negotiating with the money in the bank
23:09
as it were you become like a cash
23:11
purchaser and again that is a an
23:19
opportunity for some people to invest in
23:22
that bulk purchase and the discount and
23:25
then the spoils if you like divided up
23:28
between the people who’ve gone and sell
23:29
the stuff and the people who provide the
23:32
liquidity and that doesn’t have to be
23:36
one person and all of those benefits
23:40
generally speaking getting gobbled up by
23:42
very high bank fees bank charges
23:45
interest rates for short-term borrowing
23:49
effectively because they have a monopoly
23:52
on credit secured against your own
23:55
collateral and and so that’s that’s the
23:59
way to start thinking about developing a
24:02
core of services that the club will
24:07
offer to its wider membership at the
24:10
different levels of scale in the ecology
24:14
diagram so that’s really the
24:18
Confederation of clubs regions national
24:21
international networks demurrage
24:29
interest to savers etc that’s that
24:32
circular diagram that we just did so
24:36
I’ve covered those points there so
24:45
there are further thoughts research and
24:51
pros and cons needed considering with
24:54
regard to cooperative structures
24:57
federated structures whether it’s for
24:59
profit or not for profit and Mondragon
25:04
corporation is a federated corporation
25:07
cooperative they do do finance as well
25:10
and they know well they do look at
25:16
startups and I mean it’s not impossible
25:18
that they would look at look at this
25:20
once we’ve sort of ironed out the the
25:25
all hammered out rather our and our
25:28
strategy here so then this is my
25:33
two-tier idea of a tiered currencies so
25:38
all crypto currencies either because
25:42
they’re divided down into into different
25:46
units like bitcoins you have a whole
25:51
Bitcoin and it’s then down to satoshis
25:56
and they’re divided down into ever
25:59
smaller numbers ether is has gotten one
26:04
of the unit’s is a way or a wee-wee i
26:07
one of them is as a Szabo there are two
26:12
schools of thought on who Satoshi was
26:14
one school before was this Sabo guy and
26:19
the other school of thought was it was
26:21
this doctor right guy the Australian guy
26:24
I don’t know who it is really much
26:27
matter does it but but what I was
26:32
thinking rather than thinking of the
26:35
units as proportions of the reference
26:39
unit or divisions of the reference unit
26:43
though our tiered coin can denote
26:46
liquidity whereby you have the liquid
26:50
coins that you spend and you have the
26:52
deposit coins that you that you save and
26:56
the one kind of backs the other and the
26:58
liquid coin
26:59
have the demurrage and the deposit coins
27:02
have a rate of interest coming in or a
27:09
share of profits coming in which is
27:11
based on that you know the demote the
27:15
the demurrage margin that you know some
27:22
people holidaymakers for it for instance
27:25
might everybody ends up with change at
27:28
the end of holidays I don’t they so
27:30
what’s scale it’s something that needs
27:32
to be modeled in terms of how that would
27:37
how that how that works and how one
27:39
would complement the other as it were so
27:43
let’s just go back again here my idea
27:50
with the liquid coins is that if someone
27:55
has a hundred Kroners say they come on
27:58
holiday to angle home so they convert
28:02
their hundred Kroners into angle home
28:06
crypto complementary currency coins and
28:12
they get 115,000 Kroners of credit in
28:18
return for that hundred Kroners in cash
28:21
and that level of credit with the
28:26
demurrage okay it represents a discount
28:31
so holidaymaker comes for a week if they
28:34
spend what they take out in all the week
28:37
or everything is about 15% discount
28:40
where the way that’s accepted by the
28:43
members say the second week third week
28:48
and fourth week it goes down and then in
28:51
the second month it’s basically just
28:53
back to parity but so there’s an
28:57
incentive to hold one the angle home
29:02
coin but to to spend it more quickly and
29:05
that also apply it means that people
29:09
won’t you know this idea of hoarding
29:12
Polly
29:12
or holding coins or saving those coins
29:16
the quicker you spend the more you get
29:18
that’s the idea of demurrage so then the
29:25
second is the tier 2 deposit coins and
29:28
they those those aren’t something that
29:31
you would spend there was something that
29:33
you would save and the reason I’ve got
29:37
these term deposits here one two or five
29:40
years is from this point of view of it
29:44
may well be that for a regional anchor
29:47
say a supermarket like Iker they could
29:52
become a part of the scheme but because
29:54
there’s a risk with a bigger Bank maybe
29:58
say ladles or something like that as
29:59
well because they have their
30:01
headquarters are in it’s probably not in
30:03
Germany as it’s in Liechtenstein or
30:05
something so they do take their profits
30:07
out what what they would have to deposit
30:13
the fair currency and agree that that
30:16
stays in their deposit and that will be
30:19
used int to back the liquidity of the
30:21
coins that that’s the idea there and
30:25
it’s still a work in progress but I
30:27
wanted to put it out there so we could
30:28
all think about that right then what am
30:36
I saying here so this tier – fear term
30:42
deposits cooperative members that wish
30:46
to extend credit or their credit
30:48
worthiness into their supply chains
30:50
because it provides liquidity to their
30:54
to their customers so that they
30:57
basically increase their own turnover
31:00
and the the inventory or how quickly
31:06
that turns over in their accounts as
31:08
well accounts payable is it will be
31:11
lower so it gives access to a more
31:16
liquid local market this is the anchor
31:19
corporate membership point and the
31:21
points are making are kind of all in
31:23
here and I’m trying to explain
31:25
the the general framework of these ideas
31:31
that I’m throwing out because that
31:33
hopefully will spark other better ideas
31:36
so that we can come up with something
31:40
you know strong original and applicable
31:44
to a Swedish context and a local context
31:49
the different places in Sweden and in
31:52
achieving that it becomes a much easier
31:54
cell to recruit membership so factoring
32:04
is a business in banking which increases
32:08
liquidity for a firm but it’s very very
32:10
expensive so part of the research we
32:14
need to do is to see what 30 day credit
32:16
terms 90 day credit terms 120 day credit
32:19
terms are available in the market and
32:21
what sort of discount rates are paid
32:23
applied to the factoring there and it’s
32:27
the sort of question that is answered in
32:29
the lis ta employment and local currency
32:34
paper which are sent before so we need
32:39
to look at collect the clatter eyes
32:41
credit so the larger or the richer
32:49
people that extend their credit or
32:52
people that take that credit where
32:54
there’s the possibility of providing
32:57
security backing up their receipt of
33:00
that credit that will obviously at scale
33:03
so that could be secured on property and
33:06
stops stock or working capital sort of
33:10
thing
33:11
and then we need to look at reputation
33:14
authentication and credit scoring and
33:17
that again is something on a theory and
33:20
where lots of interesting things can be
33:23
done I mean I’m saying a theorem because
33:27
this the blockchain is there and so you
33:31
we can come up with these ideas and the
33:35
actual network of computers that compute
33:38
the algorithms
33:40
lock in those contract promises
33:46
basically it is there so you know we can
33:51
make a very feature-rich discount credit
33:56
union club type thing in the individual
34:01
markets and actually brand the
34:05
particular types of tokens and of course
34:08
because the tokens available on people’s
34:10
phones they have them on their phone
34:11
there for outreach to customers again is
34:16
is is incredibly interactive and it
34:21
allows for really proactive selling for
34:26
the retail oriented general public
34:30
oriented people a coffee shop or a cake
34:33
shop or a Baker’s a book shop you know
34:37
so on so forth I mean it’s really
34:40
knocking doors and going down high
34:42
streets really so I’ve just sort of you
34:54
know those types of shops repairs for
34:57
surprise you know like breakages and
34:59
stuff laser stores activities B&BS;
35:02
hotels restaurants bars club I mean I
35:04
just try to start throwing out you know
35:13
visualizations to start sparking off
35:17
some some synergies I mean I don’t want
35:25
to sound like addiction isn’t very well
35:26
this this is actually a good hidden
35:29
secrets of money wall chart it’s not a
35:33
hundred percent correct and how money is
35:35
created even in the u.s. which is
35:37
designed to show it’s this step for here
35:41
which is slightly in the videos he gets
35:45
this right this idea of the the bank
35:49
multiplier is just bogus now there’s
35:53
linked further on to positive money if
35:55
you look at that banks are they you know
36:00
banks are just originators of loans it’s
36:03
got nothing to do with needing deposits
36:08
that’s one way that it could be done but
36:10
it’s almost in fact never been done that
36:13
way but but it’s a good diagram in that
36:16
it shows how io u–‘s are circulated and
36:22
you know where you’ve got interest in
36:25
commissions and fees won’t go back and
36:27
forth it’s just it’s got a nice
36:29
representation of it so I’ve done this
36:36
slide on the money creation process
36:37
because it’s really key to recruiting
36:40
members because money is an IOU and bank
36:48
credit or bank deposit money is an IOU
36:54
which is secured against your own your
36:56
own credit your own collateral the bank
36:58
have usually less skin in the game than
37:01
you do most people don’t know that and
37:03
when you tell most entrepreneurial
37:05
business owners and then give them a
37:11
possibility of getting some of the
37:15
benefit of their own creditworthiness
37:18
it’s it’s actually a pretty compelling
37:24
you know proposition so the rationale
37:29
behind complementary currencies is that
37:37
it uses the group’s credit terms and to
37:41
promote the joint interests of liquidity
37:44
and whatnot within the community without
37:47
leakages and to explain that one has to
37:53
have access to an idea of what the money
37:57
creation process is it’s basically the
37:59
same in Sweden
38:01
England and with the phasing our cash
38:03
that’s a really big big selling point
38:05
for us
38:09
even with this swishing you know because
38:12
banks then monopolies they’re greedy and
38:15
historically they do you know because
38:18
they’ve been monopolies they’re although
38:20
they claim they give a very good and
38:22
efficient service is that’s true up to a
38:26
point but they basically milk it and
38:32
also as Bernard laity essays with
38:37
increased efficiency becomes less less
38:43
robustness if you like so here we are I
38:47
kind of made a list of ten bullet points
38:51
for the crypto complementary currency
38:54
cooperative idea could be coin the last
38:58
see you know remains to be decided
39:02
amongst ourselves cooperative
39:07
cooperation I mean I did I’m fairly
39:10
sanguine myself but but it’s just to
39:14
stop putting some hooks there for us to
39:17
start hanging different hats on and see
39:19
what fits and what soups so benefit from
39:23
leverage of own credit credit on
39:26
favorable terms and to new entrants
39:28
startups so it couldn’t you know
39:32
basically banks just aren’t doing there
39:36
anymore
39:38
anyway and what they do do is very
39:40
expensive so counter cyclical effects to
39:44
the wider market we’re bank example
39:47
cross selling and economies of scale in
39:49
marketing and the online marketplace not
39:53
just in marketing but also in purchasing
39:56
possible inflammation implementation
39:59
through phone apps android apple I like
40:03
those recycled block phones but but
40:05
again in terms of implementation hand
40:11
phones
40:11
a really good thing because most people
40:15
have them
40:16
and it’s then just a question of
40:18
scanning the the barcodes and stuff
40:23
Federation into affiliated markets and
40:26
membership so that means that if you’re
40:30
in a local level you have access to a by
40:35
the network if you’re big and it’s
40:39
difficult for you to deal at smaller
40:43
things that the smaller levels because
40:47
we’ve got these organized groups of
40:51
people it can kind of make the scale of
40:56
business worthwhile for someone larger
40:59
that’s the idea their interaction and
41:05
support of online presence with websites
41:08
and e-commerce it kind of leads into
41:11
things like virtual sales presentation
41:13
streaming video
41:14
the blockchain variability or all of
41:20
that because of the complimentary
41:24
currency and that’s being provided it
41:29
gives access to blockchain what’s it
41:34
called it’s called a knowledge pool
41:35
isn’t it or whatever so it’s it’s the
41:38
knowledge pool in it that the the the
41:41
community is available we can point
41:48
oops-a-daisy point to the success of the
41:52
Bristol pound Ithaca hours where Bank I
41:57
mean on the burner later site they’re
41:59
all listed the complementary currency on
42:03
coin war was all of the different crypto
42:07
currencies are listed further on all the
42:10
peer-to-peer loaning type things a list
42:14
in the future slide the report from last
42:19
year about the growth and the
42:20
peer-to-peer market
42:23
this is a growth area
42:25
this is banking’s monopoly being
42:29
dismantled effectively so it’s hugely
42:34
disruptive to that but a big big
42:36
positive in terms of giving ownership of
42:42
people’s ability to do business with
42:47
people that they have checked out
42:50
themselves and light rather than having
42:51
to be blessed by say highly centralized
42:57
highly biased outside third-party ie
43:02
traditional commercial banks so that’s
43:06
this point a central banks and
43:07
commercial banks are phasing out cash as
43:10
well and so they’re giving up well it’s
43:13
not really their niche cash is really
43:15
the government’s niche so they’re
43:18
robbing the government blind in doing
43:20
their for my government so saying okay
43:22
to it who knows because if they’re
43:24
robbed
43:24
it’s our money that that’s being robbed
43:26
this is from the bank of Engel England
43:31
paper on modern money so if anyone has a
43:36
problem so hold on again you know
43:39
where’s the proof of this
43:41
well the Bank of England say it there’s
43:43
various other there’s lots of lots of
43:47
research now and Confirmation empirical
43:49
evidence that this is you know that’s
43:52
how the whole thing works but you know
43:56
these sorts of diagrams are helpful and
44:02
I you know what I want to do is start
44:03
developing a kind of a handbook so that
44:09
when we pitch in customers you know
44:13
there’s a handbook that we can leave
44:15
with them or an online kind of magazine
44:19
type thing which we can produce you know
44:23
as things sort of grow but but so so
44:29
that they in their own time can sort of
44:31
check out the facts you know
44:34
all of these things are there’s a
44:37
fact-based
44:39
this is quite a good diagram of showing
44:43
how banking works at the moment and if
44:46
the thing I mean it’s obviously by
44:48
someone who’s really dick he’s gonna
44:50
know heard of him I found on the web
44:52
today was the Bank of England Rothschild
44:54
system they really need to go there but
45:03
Bank of England reeks Bank you know this
45:08
is this this is how it’s done
45:10
so the ECB does it tell the Fed that’s
45:13
it more or less and it’s it’s a nice
45:17
diagram I don’t like his arrows on that
45:20
one right examining the peer-to-peer
45:27
lending business business lending and
45:30
crowdfunding spaces obviously
45:34
establishing a destination and a crypto
45:43
complementary currency coin if you like
45:46
the tier 1 complementary currency offers
45:50
market liquidity TT the tier 2 forces
45:56
bonded crypto cash offers possibilities
46:00
for Inwood investment through
46:02
crowdfunding third party apps this bond
46:07
Alaura thing was just quite an
46:09
interesting thing they have they they’ve
46:10
got good graphics that’s the only reason
46:13
that they’re kind of this 20
46:14
peer-to-peer lending Pro the graphics
46:16
are quite good but what this shows is
46:22
they have a platform upon which it’s
46:27
kind of this white label type platform
46:30
where people can do their own branding
46:34
in specific markets but it all gets
46:38
passed back through to the bond or a
46:40
platform this is what aetherium does and
46:43
the it’s open source etc
46:48
and it’s one person I think it’s very
46:53
cool it’s absolutely ideal for what
46:55
we’ve been trying to figure out right so
46:59
the purpose of all of this is to
47:03
construct that like a conceptual
47:05
framework and then we can identify the
47:11
core areas which we then can then
47:13
research further to find out on the
47:15
80/20 principle which 20% of our effort
47:20
is going to generate 80% of our profit
47:22
and you know it’s that gonna be person
47:29
to person business the business tier one
47:31
currency tier two currency or something
47:34
else and we need to think about
47:36
membership fees fee levels whether their
47:39
annual whether their lifetime blockchain
47:43
or whether they’re in the crypto cash or
47:49
whether they’re in
47:54
Kronos or fiat money blockchain
47:58
commission structures for mining we need
48:02
to look at the minting and all of that
48:04
sort of thing we need to look at
48:05
demurrage surpluses generated
48:09
possibilities there we need to look at
48:11
interests surpluses from the tier 2 side
48:15
the de Mirage obviously is from the tier
48:17
1 side and then we need to look at
48:22
membership or known ownership structures
48:27
and governance structures again the
48:30
theorem democracies contracts and all
48:33
the rest of it quite interesting for
48:35
some ideas on that then we’ve just got
48:39
some clearly if we’re in the loan
48:45
business and all the rest of it we’ve
48:46
got to have all this stuff so this is
48:50
just showing having a traditional loan
48:53
who does what where and what gets sort
48:57
of passed on where
49:00
but then that goes into the loan
49:03
origination process so all these
49:06
processes can be transparent online if
49:13
you like a for example and again people
49:20
are going to want to know that these
49:22
different traditional banking due
49:26
diligence systems are in place and of
49:31
course of course they should be just
49:38
some examples there this this is from
49:40
the bond or a thing just all these
49:43
different platforms and how big they are
49:44
for the p2p spaces we’ve seen the
49:50
previous research on all of this but
49:54
they’re nice nice diagrams with lots of
49:56
nice arrows this is the bond or API
50:01
third party at party apps I was just
50:03
talking about and that is that

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Junkers and Co’s Waterloo, The Italian Coalition Game On. A SEEDS Analysis From Dr Tim Morgan

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#127: Quantum of risk, part three
rogerglewisMay 22, 2018UncategorizedEdit “#127: Quantum of risk, part three” Post navigation
Previous
Seeds gives a refreshing perspective outside of the Usual Monetary voodoo of Classical Liberalism.
Restoring Italian Central Bank Sovereignty seems to be the Most sensible route for the Italians and this will be a re run of the Troika against Yanis Varafoukis gambit of the Oxi referendum:
Varafoukis has been very interesting on Brexit and DIEM 25 is an interesting initiative he is a key player in. What He has to say about Italy will be very interesting.
I think Italy has looked like being Junkers and Co’s Waterloo for some time.
123
Interesting Times indeed.
Here’s a test of the imagination. First, picture someone asking you to write off a debt of €100,000 that he owes you. Next, picture this same man, with his next breath, asking if you will also act as guarantor of his next overdraft. Oh, and he would like to rewrite all the rules governing the financial relationship between you, too.
Though this stretches the imaginative faculty, it’s pretty much what the incoming Italian government is asking of the European Central Bank (ECB). As well as agreeing to write off €250bn of Italian public debt, the ECB is expected to watch benignly as Italy then embarks on a new fund-raising exercise, implicitly guaranteed by the ECB.
The chances of the ECB agreeing to this must be close to zero, not least because of the precedent that it would set for other Euro Area (EA) borrowers.
Yet it seems…
View original post 1,981 more words

⨊GåFöre(O⨋)The FedratedMutualSociety.⨊Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.

http://letthemconfectsweeterlies.blogspot.se/2018/05/fores-lagom-federated-currency-slide.html ⨊GåFöre(O⨋)The FedratedMutualSociety.⨊Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!

https://sv.bab.la/lexikon/svensk-engelsk/g%C3%A5-f%C3%B6re

these are the slides from the Concept presentation for the Lagom & Förres Federated currency. The currency is inspired by the hansiatic League.
https://mises.org/wire/trade-good-gold%E2%80%94or-how-hanseatic-league-thrived-without-debt

Mind and Monetary Arrangements: A Method to Assess Monetary
Heuristics in Historical Time
Thomas Marmefelt
University of Södertörn, Department of Social Sciences, SE-141 89 Huddinge, Sweden
Phone: +46 8 608 41 15, Fax: +46 8 608 40 30, E-mail: thomas.marmefelt@sh.se
Åbo Akademi University, Åbo/Turku, Finland
Abstract
In order to theoretically analyze, from the perspective of new monetary economics and social
learning, the evolution of monetary arrangements with functional separation of money, this
paper develops a method to study this phenomenon in the history of monetary arrangements
of the North and Baltic Seas region, from the Hanseatic League onwards. The aim is to do
historical economics, analyzing history from the perspective of the economic theorist, while
the approach is topic-oriented rather than discipline-oriented, involving economics, history,
and cognitive science. The focus will be on the cognitive aspect of money as social institution.
This implies multiple methods. The evolution of units of account and media of exchange are
adaptive responses by human minds. The focus will be on the heuristics of long-distance
traders in the Baltic and North Seas region, expressed in the form of units of account and
media of exchange they used and their success in the contemporary trading environments.
Lessons for monetary separation with an abstract unit of account compared with one based on
a commodity bundle will be developed. This involves the identification of the unit of account
in which contracts and calculations were made and what media of exchange were used to
make the payments. From a cognitive perspective, the medium of account provides a script
that translates the unit of account into a particular worth. When the value of the underlying
commodity bundle changes from the original worth, market agents observe a script deviation
of that bundle, attributing that to changes in the commodity space, and adjust the bundle
accordingly. This method will be developed to be able to study four historical cases:
Hanseatic monetary arrangements, seventeenth century banking, the gold standard and the
unification of monetary functions and nineteenth century monetary unions, and interwar
monetary fragmentation.
Keywords: emergent money, liquidity, monetary arrangements, value of money, social
learning, monetary history, North and Baltic Seas region
Före(s) = Store Of Value; Federated Mutual Savings Bonds.Lagom(s)= programmable and Customisable Means of Exchange´´Mutual Blockchain Federated credit Union´´
´´Federated Programmable Complementary Means of Exchange Currency´´
´´Federated Mutual general retirement and insurance fund’’, 
Gå före tillsammans ⨊GåFöre(O)The FederatedMutualSociety.Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.

Gå före tillsammans Före(s)

Före(s)AndLagom(s) Putting the Complementary into Crypto Currencies!.

DASH:
https://www.youtube.com/watch?v=OhI3YrVRiUE  Daniel Diaz, Dash business developer, shares the network’s latest announcement regarding the prioritization of block rewards to fund fiat gateways. Partners for gateways include Deginner, CryptoCapital, & Coinapult.

Dash homepage: http://dash.org
Fiat gateway budgetary plans: https://dashtalk.org/threads/prioriti…
Deginner: http://deginner.com
Coinapult: http://coinapult.com
CryptoCapital: http://cryptocapital.co

BITCOIN DARK;

From Darkcoin manifesto.

Key currencies.

‘’Volatility has characterised most cryptocurrencies to date, compromising what would otherwise be a desperately needed store of value. BitcoinDark will enable users to ‘lock’ funds against real-world currencies, commodities and stock indices, redeeming them for their value in BTCD at a later time. Together with its realtime exchange, this will enable users to trade effectively and manage their own accounts and portfolios of investments, entirely outside of the existing financial system’’.
On the point about Financial services offered and not functioning soley as a currency that is exactly the point ABC . The differentiation to gain traction and add value in a democratic market place as opposed to apeing the existing monopoly practices in the industry is the key. Essentially what I see emerging as the opportunity here is to take the Blockchain and Ethereum platforms , to program financial services functionality into a debt free decentralised complimentary currency. 

Före(s)

A massive amount of financial services innovation has gone into non productive Algo trading and derivatives Contracts. Speculations on money as a store of value and completely ignoring the means of Exchange. ( Thats what the Quote from Cruet’s money Syndrome of the Deutsche Bank CEOs is seeking demonstrate in my earlier e mail. https://realcurrencies.files.wordpress.com/2012/01/monsyndrome_ch-7-18-21-22-1.pdf
Look at the Dark Coin Exchange here. https://poloniex.com/exchange#btc_btcd  This is merely apeing all the worse features of Casino Capitalism and is antithetical to Complementary currencies supporting real commerce and acting as a means of exchange rather than focusing on a store of value and speculation on spreads on future value ratios.

 This famous cartoon shows The Golden Tail ( Store of Value) wagging the Silver ( Means of Exchange Dog ) it is from 1896 at the time of the famous William Jennings Bryant Cross of Gold Speech. One point which can not go unconsidered is the point that Atom bank make but don’t back up as far as I can gather, and that is that Block chain technology gives parties who wish to contract to exchange the opportunity to bypass banking intermediation or any other intermediation , effectively every transaction potentially has its own private bank as a special purpose vehicle. If this negates traditional bank intermediation services and Bankings monopoly to Originate money through credit, is also gone. Are we looking at the famous African Blue Bank, is it deceased , has it ceased to be and gone to meet its maker?
Time for an out of the Box moment. We are not doing Banking but we are re inventing The Mutual Credit Society, and / Or Building Society. We are also removing Usury and Speculation from the model as well, Both WIR and JAK have done that and it is a clearly successful model. We need to look at the cooperative finance services offered by Mondragon Corporation as well, they have a cooperative structure but otherwise do everything on a full finkncialised Capitalist basis, contrasting the three models and abstracting into what we are proposing 
1.a ´´Mutual Blockchain Federated credit Union´´ And
2. a ´´Federated Programmable Complementary Means of Exchange Currency´´ and 
also our own version of the Dash ‘’Fiat Gateway´and Dark Coin manifesto commitment to; ‘’BitcoinDark will enable users to ‘lock’ funds against real-world currencies’’’ We need to develop the concept of Store of Value as a secure path to savings ( not hoarding or speculation’’ Our store of Value would be based along the lines of
3. a ´´Mutual general retirement and insurance fund’’, 
if one looks at the current Financial Landscape and adopt the 180 degrees mirror opposite approach essentially that is what a financial services institution designed for the customer would look like. It is both sad , shocking & remarkable but, non the less true.
Zeitvorsoge
A good example of using a community currency to facilitate co-production of public services is the ‘Zeitvorsoge’ – literally ‘time- provision’ – initiative, launched and financed by the City of St. Gallen, Switzerland. Its main objective is to allow retired but generally fit senior citizens to save time-credits through helping those in need of basic care. Several local elderly-care organisations provide volunteers with opportunities to earn time-credits. The city itself acts as guarantor, ensuring that credits can be redeemed at any date in the future for similar care services if and when the earner requires them, either through the elderly-care organisations or peer-to-peer. This puts people in charge of their own care, allowing them to define and meet their own needs – crucially, however, with the professional and financial support of public institutions. p.47 People Powered Money. 
We are looking for a store of value that would send an actuary to sleep effectively.
Some Notions to Conjure With.

Före(s) = Store Of Value; Federated Mutual Savings Bonds.Lagom(s)= programmable and Customisable Means of Exchange´´Mutual Blockchain Federated credit Union´´
´´Federated Programmable Complementary Means of Exchange Currency´´
´´Federated Mutual general retirement and insurance fund’’, 
Gå före tillsammans ⨊GåFöre(O)The FederatedMutualSociety.Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.

Its been a patchy week for me trying to pull together the very wide and disparate elements of a proposal along these lines. A few days more mulling over the People Powered Money Book and following up in more depth on the Examples it offers will help I think to provide a sketched framework within which we can identify a starting point or Pilot area and project.



⨊GåFöre(O)The FedratedMutualSociety.

Lets chat through further thoughts and comments over this weekend. Happy Birthday to Angela for yesterday.

Rog

⨊ GåFöre(O). 
The FederatedMutualSociety.

On Sat, Apr 2, 2016 at 12:49 AM, Andrew Boyett-Camp <abc121@me.com> wrote:

Hi Roger,
Very interesting what this guy was saying on Fox. A repeat of my last email even? (OFW’s, traditional banks not being innovative due to legacy systems, opportunities for financial services etc.)
Although he didn’t state it categorically, he also ‘implied’ that the Blockchain infrastructure is the key – even with +500 crypto currencies in the mix, most won’t gain any traction.
As stated in my last email. Western Union is buggered!
A WIR/Atom bank type setup (with a bias toward ‘community spirited finance’) and based on Blockchain technology, I personally feel provides much more scope than a currency alone.
I do conceded that one very dangerous area is home loans/mortgages, as without strict lending criteria, P2P type home loans is just another bad debt crisis waiting to happen…
His launch of a crypto currency ETF was a no-brained really. iShares & Vanguard are sure to follow suit. The ability for investors to gain exposure to a broad basket of crypto currencies is a punt. He of course did say that Bitcoin itself will either be worth a lot more than it is now – or it will be worth zero!
Andrew Boyett-Camp
On 1 Apr 2016, at 20:40, Roger Lewis <rogerglewis13@gmail.com> wrote:

MISES WIRE

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Home | Wire | Trade as Good as Gold—or, How the Hanseatic League Thrived without Debt

Trade as Good as Gold—or, How the Hanseatic League Thrived without Debt

We’re often told that international trade thrives on debt. In an especially risky line of business, financial intermediation, with its loans and guarantees, is the indispensable infrastructure for the progress of commerce. Perhaps entrepreneurs wouldn’t even consider selling goods to foreigners if it weren’t for banks and credit markets to finance them. Naturally, if and when markets fail in this role, Ex-Im Banks and other government intervention must provide ‘extra liquidity’ for trade.
While this string of non-sequiturs sweeps economists of all stripes, international trade—or better yet, trade in general—is better off not ‘banking on’ such helping hands. Without doubt, loans have their economic role, but retained earnings, equity, or simply cash-hoarding can be just as effective in transferring purchasing power to entrepreneurs. In fact, international trade thrived in times when banking and financial systems were not only in their in their infancy, but also when oceanic trade was dangerous and expensive.  Nonetheless, it began as a self-financed venture, a venture for which merchants themselves set money aside. The Hanseatic League (c. 13th to 17th century)—a commercial association of traders from German towns—is a good example of this type of financial behavior.

Lagom/Förenas a new; complementary, federated, embodied energy, Currency. Peoples Republic of Dough. Ethereums Most important conversation Ever #Web 3 Embodied Energy Money.

12

 

The Peoples Republic of Doug was/is an early example of a disintermediated trustless contract based community enabled on the Ethereum Blockchain. Lagom and Förena are energy based complementary monies designed to be incorporated into regional national and international ecosystems for trustless value exchange contracts between communities, sectors and individuals.

I would advise readers to think about this advice from Henry Morely on reading Alexander Popes essay on man.

”The reader of Pope, as of every author, is advised to begin by letting him say what he has to say, in his own manner to an open mind that seeks only to receive the impressions which the writer wishes to convey. First let the mind and spirit of the writer come into free, full contact with the mind and spirit of the reader, whose attitude at the first reading should be simply receptive. Such reading is the condition precedent to all true judgment of a writer’s work. All criticism that is not so grounded spreads as fog over a poet’s page. Read, reader, for yourself, without once pausing to remember what you have been told to think´´.Henry Morley.

 

  • desperado_LCR_72 Member Posts: 12
    HI Andreas
    An amazing job!
    Two comments:
    A) You are modelling a Peoples Republic with a Constitution. I would suggest to generalize it a bit to Governance models for other, voluntarily joined, social associations like NGOs, political parties, etc. A Government is only a particular case. We would not talk about a Constitution, we would talk about Statutes. It’s mainly terminology but inspires more flexible concepts.
    B) Where I felt the need for some more innovative approach is in the monetary part. We would need to bring in some concepts of Open Money here. In particular, the citizens should be able to issue the money (as a loan to the Peoples Bank). If you want to generalize, alternatives are its the Peoples Bank, or it is an enterprise (a private bank). The one I am interested: it’s the people who create money out of the nothing.
  • Ok, the system is very simple at this point.

    Currently, I’m making it possible to issue government bonds. It is I think the only financial tool that will be available from launch.

    When it comes to the bank now – the senators are in control of the money, and since people elect the senators they are essentially the owners. The only thing that has to do with credit is I guess the bonds, and those are interest-free, so they’re mostly just adding a bit of flexibility.

    When it comes to revenue, I don’t know if it will be made through some sort of taxation, like recurring membership fees or maybe taxes on services that the organization provides (good, useful services are what will hopefully attract people to join). Probably it will be a little bit of both. I guess it depends mostly on what the (theoretical) users feel most comfortable with.

    I don’t know what “Open money” is.

  • androlo Jamtland, SwedenMember Posts: 36 ✭✭
  • desperado_LCR_72desperado_LCR_72 Member Posts: 12
    Here comes a text hopefully inspiring the monetary system of your republic. The amount of code required is probably less than the one required for government bonds.
  • TuskTusk Member Posts: 33
    Nice work desperado!
  • desperado_LCR_72desperado_LCR_72 Member Posts: 12
    I will try to translate the bla, bla into an inventory of contracts to be coded
  • androloandrolo Jamtland, SwedenMember Posts: 36 ✭✭
    WOW! That is a lot of stuff!!! Thank you for showing all this. I just looked at it, but I will sit down tonight and read it through. It’s exactly what I was looking for. It looks great!!
  • androloandrolo Jamtland, SwedenMember Posts: 36 ✭✭
    Seriously, this is awesome.
  • androloandrolo Jamtland, SwedenMember Posts: 36 ✭✭
    edited June 2014

    Some questions:

    “Money issued out of the nothing by the members, in their monetary sovereignty, for this period and lend to the Equalitarian Peoples Association.”

    Technically wouldn’t this be credit and not money? I don’t understand it, would love if you wrote a short clarification. If anyone can create credit/money, wouldn’t that make the economy very shaky?

    I’m not saying you’re wrong, please don’t get me wrong. I just don’t know all these things.

    If you want “in” on this, I would codify a lot of this, and you’d be the political mind. You would be most welcome. I would love to have a private chat (text or voice, both is fine).

    androlo1980@gmail.com (Both for skype and e-mail)

  • desperado_LCR_72desperado_LCR_72 Member Posts: 12
    Yes, this is credit. This is what the fractional reserve banking money actually is. 3% of the money in circulation is fiat money issued by the Central Banks. The rest is bankers money made out of the nothing when they give credit. This credit goes into circulation and becomes by that “money”
    See Paul Grignon: Money as Debt http://en.wikipedia.org/wiki/Money_as_Debt
    If you want something more official: MODERN MONEY MECHANICS
    http://archive.org/details/ModernMoneyMechanics
    A Workbook on Bank Reserves and Deposit Expansion
    Federal Reserve Bank of Chicago
  • desperado_LCR_72desperado_LCR_72 Member Posts: 12
    Here comes a first Inventory of Contracts necessary for your Republic
  • desperado_LCR_72desperado_LCR_72 Member Posts: 12
    By the way, a project like that could have funding from the European Commission in H2020
    http://caps-conference.eu/
    http://caps2020.eu/about-caps/caps-horizon-2020/
  • androloandrolo Jamtland, SwedenMember Posts: 36 ✭✭
    This is great. The name “Republic of DOUG” is not set in stone. It has had more names. If the system turns more towards something different then a classical republic, maybe it should be changed. I would also change the money system (which is somewhat similar to what you suggest), and the name of the money etc., but I would really like to have a few words first. Skype would be fine, or just e-mail correspondence.
  • desperado_LCR_72desperado_LCR_72 Member Posts: 12
    ok androlo I will email you from desperado.theory@gmail.com
  • androloandrolo Jamtland, SwedenMember Posts: 36 ✭✭
    there is a live PRoDOUG now btw. on the latest chain. http://androlo.github.io/andreasweb/DAO.html
  • desperado_LCR_72desperado_LCR_72 Member Posts: 12
    Hi Androlo
    I have completed my series of articles to describe the financial instruments we would need for the Equalitarian Peoples Associations.
    1. An article describing the main structure of the Equalitarian Peoples Associations and a relatory about the main functions of the Commons Sovereigns, the legal tender currency. http://desperado-theory.blogspot.be/2014/06/commons-sovereigns.html
    2. P2P transactions do not need any explanations. They are usual transfers between Peer accounts in Commons Sovereigns
    3. An article about the P2P Credit contract. http://desperado-theory.blogspot.be/2014/06/p2p-to-b-credit-contract.html
    4. An article about the P2B sovereign currency generated as credit. http://desperado-theory.blogspot.be/2014/07/p2b-sovereign-currency.html
    5. An article about B2P type of currencies as a promise of goods. http://desperado-theory.blogspot.be/2014/07/b2p-type-of-currencies-as-promise-of.html
    What is pending is an article about currencies suited for B2B transactions. It is not that interesting because it either a mix of the instruments above or just a marketplace for the interchange of properties or a global currency like Bitcoin. Nevertheless, one of these days I finish it.
  • diedicardiedicar Member Posts: 1
    edited August 2014
    hello, very pleased to meet you, desperado. I’m myself working on something interesting about monetary policy. I understand your approach but I think that instead of issuing money out of nothing it could be more interesting issuing money out of some proof-of-something. Remarkably out of a proof-of -gift. This leaves the issuer without any obligation, no complaint is possible. Acceptance of this currency is stronger because the gift testifies in advance for its involvement in a transaction of goods (or services). This is far, far beyond the banking system, even a hyper-democratized one. I believe that Nick Szabo is indeed Satoshi, and I think crypto-ledgers could bring us back to our origins, as depicted in this nice essay. Have a good read: http://nakamotoinstitute.org/shelling-out/
  •  

  • https://drive.google.com/file/d/0B_sThwX_Vd3pUlB0SDRzQnpvS2s/view?usp=sharing
  • Next stage of thinking this through.
    My Latest efforts for the design of (⨊ )Förenas, (⨊ )Förenas, (⨊ )Förenas, (⨊ )Förenas, (⨊ )Förenas!!!!!!!!!!!!!! & ⨋Lagom The next stage of thinking this through is to set out the Interactivity and value properties that Minters of ⨋Lagom ́s out of (⨊ )Förenas can specify into special offer based demurrage.
    Special features can be made transferable or personal to individual customers.) an instance of this exists in Band Camp where discounts can be applied to downloads where promo codes are sent to targetted people say journalists or someone that might promote the service being offered, The Affiliate programme of Genesis Mining is another instance.of rewards for increasing customer flow. I will work on a visual model of the existing banking system and also a descriptive visual mode of (⨊ )Förenas!!!!!!!!!!!!!! & ⨋Lagom with programmable features for both. One final question I am seeking to resolve is the conditioned response we have in referring back to a Fiat Currency as A unit of Account the practical functions of Means of exchange, Deferred payment and store of value all represent the intrinsic use value of money and yet the totally abstract and symbolic function that money serves as a Unit of Account or Metric is what conditions us to compare Bitcoin and other crypto fiat currency type analogues. Breaking that habit of thinking and linking the Unit of account to the value of the overarching network of users/merchants/customers is key I think to liberate the full potential of Complimentary cryptocurrencies.
    class A store of value deposits denominated in the Unit of account?⨋Lagom mature at the expiry of demurrage premium to (⨊ )Förenas Mintable class B which acts as a token for deferred payment redeemable at Par. (⨊ )Förenas Mintable class B can be deposited with the central coop for term deposits for varying surrender periods which pay interest in the convertible value back to
    Swedish Kroner or back into mintable class b (⨊ )Förenas at a higher rate of return.
    Conversion back to Class B Mintable in a thriving system may become more desirable than
    conversion back to FIAT. As the scale of a federated Complementary currency increases the perceived desirability of FIAT would fall away.
    Programmable Features of ⨋Lagom
    ⨋Lagom are mintable via proof of Stake by holders of Class B (⨊ )Förenas Mintable class B deferred
    payment (MDP) Minted out of Class B (⨊ )Förenas are the programmable means of exchange
    tokens which enter circulation with programmed incentives by the issuers of them. The incentives will
    be for a period of time for the offer desired by the Merchant who can decide if the offer is exclusive to
    an invited audience or whether it should be transferable and for how long.
  • Velocity / Demurrage 1st design of programmable minted medium of exchange tokens. Class B means of deferred payment class b tokens and
  • Hi Roger (and Cc’d persons),

    I am reading through the attached .swf file (I had to look up how to open these on a Mac – but thankfully it was simply a case of dragging the file into Safari and Bingo!)
    There are several elements within this that my pea-sized intellect doesn’t fully understand, but that is to be expected as I have never been a particularly analytical individual. However, I grasp the concept and do feel crypto-currencies are a leap forward. Prior to “the Bristol Pound” there was the ‘Southville Pound” (an area near Bedminster in Bristol) that was launched approx. 25 years ago if I remember correctly. It was very successful (to a point) and was basically a means by which the community could exchange services/favours with each other based on the perceived value of said service(s). It was by no means a fully-fledged currency, but it was a well-supported community ‘methodology’. Of course, modern technology now means this concept can reach a whole new level. The Southville Pound fizzled-out and was ultimately perceived as a novelty. The Bristol Pound is successful due to critical mass.
    When I listened to Dan Hassan being interviewed on the RT Russian News network (the link I subsequently forwarded to Roger) I was quite frankly ‘blown away’. This chap knows his onions, and was [apparently] barking-on about Etherium 3 years ago when no one was listening to him or taking him seriously – They are now! He is most definitely a visionary and of an extremely high intellect (even if he does look like he’s dressed more for Woodstock than the boardroom;)
    Algorithms v Asset Managers
    For the benefit of my own learning curve, last week I transferred €1,000 into Dan Hassan’s Robin Hood Minor Asset Management, which I understand will be pooled and invested at the start of next month. Currently, liquidity is a mute point, as any withdrawals take approximately 6 months to extract, but I am confident that over time this surrender period will shorten dramatically (as inflows support liquidity). What I like is that fact that their in-built investment algorithms for the fund have beaten the S&P500 over the last 12 months, beaten all S&P500 tracking ETFs, and beaten 80% of actively managed funds with an S&P500 benchmark – an achievement in itself. Backtesting is also solid.
    Although this is not directly relevant to Crypto Currencies, it is relevant in terms of the investment ‘space’ as the investment program is substantially different from what’s gone before it. Typically, investment algorithms have a tendency to be too clever. They can never foresee the future and are predictably poor at reacting to external market forces. This new approach is different as the whole system is designed around mimicking what the major players are doing – in real time. It has no investment bias and simply ‘goes with the flow’. (KISS – Keep It Simple Stupid!)
    The other dramatic change is that you can fund your investment via Crypto Currencies (BitCoin etc.) as an alternative to cash. This is a major change for asset management/investing and one to take note of. I am sure ‘the powers at be’ are pulling their hair out over the extensive Money Laundering implications, as effectively dark money can [potentially] be invested into the stock market and washed-through. How this is going to be overcome is anyone guess? It has the potential, however, to create huge inflows of cash into markets (great for liquidity) and sidestep brokers (good for longer-term competitive pricing models). Obviously (save Crypto Currency speculation) it also removes a lot of FIAT currency volatility for investors wishing to invest globally without being affected by a fund(s) base currency. This is excellent (IMHO) and hugely beneficial not only for private investors but also long-term company cash and large pension funds, both of which can be educated in the benefits of removing [more] currency risk from their [current] FIAT denominated funds.
    OK, now I can smoothly link into Crypto Currencies from here…
    The Big – VERY BIG picture
    Although I will bow to everyone’s judgement/consensus opinion, personally I can’t see any attraction in keeping things too regional. Yes it may be good for local businesses (all very nice and ‘touchy-feely’) and a local cryptocurrency has its attractions for making savings and retaining cash in the community – but is it not too restrictive? (Please don’t shoot the messenger – I am merely being my usual controversial self;)
    What about…..
    Taking the bull by the horns (Reindeer, Elk or whatever other ‘Beast of Bodmin’ you relate to over ’there‘) and doing something MAJOR for a country like Sweden. i.e. A Swedish Crypto Currency where, say, corporate & state pension(s) and/or an element of annual salary could be enhanced (10%?) if taken as say, Swedish förena (unite in Swedish?) – hey, I like that. An ABC’ism if there ever was one….effectively giving people more spending power (nationally) and ensuring the capital is spent/remains in the country etc etc.
    Get some major companies onboard first and subsequently push for government support as part of ‘the revolution’. This would certainly be an achievable goal? You never know – this element of ‘income’ could eventually be paid tax-free if it benefits the country as a whole. Salary as Krona – bonuses in förena? The list goes on…
    This message is simple to understand and simple to sell. (It must be – even I get it)
    Any enhancement to employee benefits has to be a good thing (including staff retention) and good for the Swedish economy too. Sure, the vast majority of Krona is likely spent in Sweden already – but more could be? and it is likely to stimulate the economy if you factor-in a B2B förena discount/invoicing scheme too? And it would mitigate one of my major pet-hates. Large corporations’ stranglehold on SMBs via lengthy invoice settlement periods – which is inhumane and outright disgusting behaviour (IMHO). The intrinsic benefits of a more fluid payment system to assist SMBs to survive is hugely important, even if they need to entice their larger corporate clients via an additional discount for using the CryptoCurrency. For SMBs – CASH FLOW is KING!
    We only need ONE major employer to ‘see the light’ and it could realistically snowball from there. Going ‘ball-to-ball’ in a boardroom is something I don’t have an issue with and I think I would actually revel in this role. The one thing I know I excel at is being tactfully untactful. Humour & honesty pays (IMHO).
    Start ‘local’ where the territory is better known – but think National.
    One currency for ALL – not messy currencies for lots of different regions etc. As a consumer, I would be happy to receive say, a 10% uplift on [an element] of my salary to be spent in Sweden – but I’m buggered if I want to be restricted to spending it in one or two districts. This is a ‘freedom movement’ (sizzle) on a national scale (sausage).
    Investment Management
    This is a no-brainer in my view. Commissions/fees could be offset/paid for via “förena” even if the investments themselves are held in Krona, EURO or USD etc. Longer term, of course, the investments themselves could be managed/held in a Crypto Currency if said ‘coin’ proves to be stable, reliable and can be recommended to investors without bias and under the principles of “best advice’. In the interim, investors can immediately benefit by paying for fees outside of their investment(s) so that what is invested is not reduce by charges as much (the more actually invested – the more an investor stands to gain/loose etc.)
    Although I do not have any clients yet (advising expats offshore) the above is already my business model so that more of a [potential] client’s money is invested from outset, with the ability to pay my fee (a modest 1%) externally so as not to impede what is invested on the client’s behalf. I am happy for an investor to reimburse me via cash, PayPal, BitCoin or whatever – so an alternative Crypto Currency is merely an extension of this, perhaps with a reduction in my fee for payment via the “new” Crypto Currency” as an incentive. I can’t see this being an issue whatsoever and it would encourage investors to embrace a new way of paying? (all assuming anyone loves me enough to want to take my advice in the first instance of course! 🙂
    Certainly, longer term a “förena” ETF or similar type fund isn’t out of the question to invest in Swedish listed firms, with “förena” as the base fund currency?
    What’s in it for ME?
    An obvious point, and an important one.
    Some discussion/agreement needs to be reached as to a pricing model. I am not greedy and I embrace this type of change – as I can see the benefits to many individuals and institutions. However, it will involve a lot of hard work, outlay and dedication and I cannot afford to be a charity – especially if it involves flying from Asia to Europe frequently to get this off the ground.
    I have spent a lot of time with WordPress/Plugins and I am happy to design and implement a website or modify an existing one to bias in favour of what we are looking to achieve. See my two current ‘themes’ for reference:
    Personally, I think “as2ute” is crying out to be used effectively and it does [sort of] complement our “message” and is short and ‘catchy’ enough to get noticed?
    Summary
    I hope I’ve not waffled-on too much? I am conscious that the [above] is theoretical rather than statistical, but that’s just the way I approach these things. As I have said, I am not a technical person, but I do have an ability to take certain aspects and break them down into digestible chunks. I have always believed in the motto “If you don’t understand it – don’t do it!” (Bankers take note;)
    I also fundamentally believe in what Peter Hargreaves (Hargreaves Lansdown – now Billionaire) told me when it came to marketing:
    “ABC – If you can’t sell it to me on an A5 piece of paper – Fuck off!” (And yes – that had to include the application form as well!)
    He also had an uncanny knack (when I first started at HL) of taking my client report recommendations of say, ten pages, and rewriting them, doing it better, explaining it clearer and all on no more than TWO pages. It became a charming ‘battle of wits’ in the end and after about 2 years I noticed he had perused one of my reports and put in back on my desk (without telling me and [finally] without any alterations and/or additions/subtractions) adding in bright red pen across the top:
    8/10 ABC – You’re not completely fucking useless! PKH”.
    A compliment indeed.
    PKH = K.I.S.S. and I admire his business prowess immensely.
    I trust that together we can adopt a similar K.I.S.S. mentality/philosophy with our potential venture.
    Thoughts anyone?
  • https://drive.google.com/open?id=0B_sThwX_Vd3pWExLLWtFVk9zcHEtV2xfMXR5UkhETEk4S2JJ

 

 

 

 

The answer depends on what the ultimate aim is for the questioner.
The issues are, Centralisation versus decentralisation Issues revolve then around the production of money and distribution of money  In Crypto world, the euphemism for centrally created is Pre Mined, of course, it is not pre-mined at all in the case of Stellar, Cardano, Ripple and of Course Tether. The next layer of the money creation question then comes to Real Pre mining which is to do with allowing an exclusive group usually the development community to mine for a period at the genesis block to a further period which effectively reserves a big chunk of the first money created to rest in the hands of a powerful group, this question is often discussed in initial coin offerings. The most famous pre miner is, of course, Satoshi ( him/Her self ) The Genesis blocks and the keys to the first bitcoin blocks are in the hands of the mysterious Satoshi and amount to 10% of all bitcoin in existence the video I sent yesterday of Heart and Verr discussing Bitcoin and Bitcoin cash has a large section when this is discussed other videos I sent have included discussions of the Monero Crippled Miner and also the Genesis mining of Dash and Ethans fast one regarding who got the lions share and hence control of a supposedly distributed and decentralised value system. Ethereum tackled all of these questions and was and is very transparent there is still a high concentration of power as represented by concentration of token control at the top but not as bad as say Ripple and Tether- The next question you get is, is it open source and how truly open-source and accessible is the decision-making process ?  this is the much-vaunted Consensus algorithm stuff. The Byzantine General and all of that, At this point you get to the Hard Forks soft forks and Discussion regarding Bitcoin Gold/Cash/core etc. Craig Wright (I Think he is Satoshi or Half of Satoshi who I believe were he and his US friend who died of cancer a few years back now ( details are important) I.e Satoshi never was just one person the initial effort was a group effort including Nick Szabo and some other notable Cypher Punks, you also have to factor in people like Julian Assange and WikiLeaks which is all part of the same movement that Bitcoin emerged out of. So that takes us back to who are the good guys and bad guys the answer to which is you pays your money and makes your choice or in my case you Build your miner and choose your Currency/pool. I mine EThereum but will in due course be mining ETHER ( for as long as I can I:E Proof of Stake) Ethereum Classic, the debate between Ethereum and Ethereum Classic, dates back to the DAO hard Fork and the DAO Hack. This is the bit about Rolling back the BlockChain. Heart is against it in the Heart Verr interview, I think he’s wrong to be absolutist about it, I agree with Ethereum Classic in many ways but think they were wrong to say that the Dao Hacker should have been let off the hook. I Like  Ethereum, Dash, Monero Bitcoin Gold/ Ethereum Classic Bitcoin  Bitcoin Cash SIA Coin  IBIQ and BISQ as an exchange Finally, I like Gold and Silver and Lanthanides ( rare earth Metals ) Lietears Terra made into a Crypto would be the ultimate good Guy the work I did a year or two back on currencies in this space tackles all these questions http://www.lietaer.com/2010/01/terra/

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Barry Silbert obviously has his head screwed on, yesterday I also listened to a rather longer and more technical interview here, https://www.youtube.com/watch?v=OhI3YrVRiUE, regarding Dash Coin, I also spent some time researching Dark Coin, I will read the white papers for both and recap further on both before enumerating my thoughts on how they potentially point to directions we might consider for Gå Föres Tilsammans Bank.
Gå före tillsammans ⨊Före(s)
⨊Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.
DASH:
https://www.youtube.com/watch?v=OhI3YrVRiUE Daniel Diaz, the Dash business developer, shares the network’s latest announcement regarding the prioritization of block rewards to fund fiat gateways. Partners for gateways include Deginner, CryptoCapital, & Coinapult.
Dash homepage: http://dash.org
Fiat gateway budgetary plans: https://dashtalk.org/threads/prioriti&#8230;
BITCOIN DARK;
From Darkcoin manifesto.
Key currencies.
‘’Volatility has characterised most cryptocurrencies to date, compromising what would otherwise be a desperately needed store of value. BitcoinDark will enable users to ‘lock’ funds against real-world currencies, commodities and stock indices, redeeming them for their value in BTCD at a later time. Together with its real-time exchange, this will enable users to trade effectively and manage their own accounts and portfolios of investments, entirely outside of the existing financial system’’.
On the point about Financial services offered and not functioning solely as a currency that is exactly the point ABC. The differentiation to gain traction and add value in a democratic marketplace as opposed to apeing the existing monopoly practices in the industry is the key. Essentially what I see emerging as the opportunity here is to take the Blockchain and Ethereum platforms, to program financial services functionality into a debt-free decentralised complimentary currency.
⨊Före(s)

A massive amount of financial services innovation has gone into non-productive Algo trading and derivatives Contracts. Speculations on money as a store of value and completely ignoring the means of Exchange. ( That’s what the Quote from Cruetz’s money Syndrome of the Deutsche Bank CEOs is seeking to demonstrate in my earlier e mail.

 

Nice to hear from you. WIR Bank is definitely a good model. I was reading more about JAK bank here in Sweden which is an interest free 30000 owner/member bank that has been going since the 60´s it is modelled on a Danish bank of the same name. http://communityrenewal.ca/sites/all/files/resource/MW200351.pdf
https://www.jak.se/content/membership-0#.VvteYRN96g8 The idea of JAK is more general and consumer (household) driven than WIIR which is SME driven. With respect to complimentary currency design The attached booklet People Powered Money

Is well worth reading.
The Magrit Kennedy link sent yesterday with the Interest observations of Creutz are tremendously important and the research into the Chiemgauer also linked which gives the evidence of propensity for complementary currencies to circulate locally 20 times over 7 times for a national currency. Complementary Currency ( Lagoms focus on money as Means of Exchange ) Föres provide backing and convertibility back into FIAT and work as a store of value, the main focus of a federation of Local currencies is to provide liquidity a store value is not helpful to liquidity and requires a
” A question was put to the former chief of the Executive Board of the Deutsche Bank, Hilmar Kopper in an interview in a TV network in the spring of 1991: “What is it that gives money its actual value?” One might have expected Kopper to refer to the performance of the political economy that provides the cover for our money. But the reply of the banker was short and to the point: “The time factor means that it (money) increases through interest”, and to the inquiry of the astounded interviewer: “Money without time is then nothing?”, he confirmed the same in more detail: “Money without time means nothing, of course it can be spent right away. But that does not multiply money, money is then turned into something else.” This definition of a former banking expert is significant. According to him, our money is not primarily for the purpose of mediating an exchange of goods and services in the economic system, but more for self-propagation!”
Interest as a Means of Redistribution / 8 Excerpt from Helmut Creutz The Money Syndrome Towards a Market Economy Free from Crises
https://realcurrencies.files.wordpress.com/2012/01/monsyndrome_ch-7-18-21-22-1.pdf
I look forward to discussing other aspects you raise on Skype .
All the best
Rog

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https://realcurrencies.files.wordpress.com/2012/01/monsyndrome_ch-7-18-21-22-1.pdf

Look at the Dark Coin Exchange here. https://poloniex.com/exchange#btc_btcd This is merely apeing all the worse features of Casino Capitalism and is antithetical to Complementary currencies supporting real commerce and acting as a means of exchange rather than focusing on a store of value and speculation on spreads on future value ratios.
This famous cartoon shows The Golden Tail ( Store of Value) wagging the Silver ( Means of Exchange Dog ) it is from 1896 at the time of the famous William Jennings Bryant Cross of Gold Speech. One point which cannot go unconsidered is the point that Atom bank make but don’t back up as far as I can gather, and that is that Blockchain technology gives parties who wish to contract to exchange the opportunity to bypass banking intermediation or any other intermediation, effectively every transaction potentially has its own private bank as a special purpose vehicle. If this negates traditional bank intermediation services and Bankings monopoly to Originate money through credit, is also gone. Are we looking at the famous African Blue Bank, is it deceased, has it ceased to be and gone to meet its maker?
Time for an out of the Box moment. We are not doing Banking but we are reinventing The Mutual Credit Society, and / Or Building Society. We are also removing Usury and Speculation from the model as well, Both WIR and JAK have done that and it is a clearly successful model. We need to look at the cooperative finance services offered by Mondragon Corporation as well, they have a cooperative structure but otherwise do everything on a full financialised Capitalist basis, contrasting the three models and abstracting into what we are proposing
1.a ´´Mutual Blockchain Federated credit Union´´ And
2. a ´´Federated Programmable Complementary Means of Exchange Currency´´ and
also our own version of the Dash ‘’Fiat Gateway´and Dark Coin manifesto commitment to; ‘’BitcoinDark will enable users to ‘lock’ funds against real-world currencies’’’ We need to develop the concept of Store of Value as a secure path to savings ( not hoarding or speculation’’ Our store of Value would be based along the lines of
3. a ´´Mutual general retirement and insurance fund’’,
if one looks at the current Financial Landscape and adopt the 180 degrees mirror opposite approach essentially that is what a financial services institution designed for the customer would look like. It is both sad, shocking & remarkable but, non-the-less true.
Zeitvorsoge
A good example of using a community currency to facilitate co-production of public services is the ‘Zeitvorsoge’ – literally ‘time- provision’ – initiative, launched and financed by the City of St. Gallen, Switzerland. Its main objective is to allow retired but generally fit senior citizens to save time-credits through helping those in need of basic care. Several local elderly-care organisations provide volunteers with opportunities to earn time-credits. The city itself acts as guarantor, ensuring that credits can be redeemed at any date in the future for similar care services if and when the earner requires them, either through the elderly-care organisations or peer-to-peer. This puts people in charge of their own care, allowing them to define and meet their own needs – crucially, however, with the professional and financial support of public institutions. p.47 People Powered Money.
We are looking for a store of value that would send an actuary to sleep effectively.
Some Notions to Conjure With.
⨊Före(s) = Store Of Value; Federated Mutual Savings Bonds.
⨋Lagom(s)= programmable and Customisable Means of Exchange
´´Mutual Blockchain Federated credit Union´´
´´Federated Programmable Complementary Means of Exchange Currency´´
´´Federated Mutual general retirement and insurance fund’’,
Gå före tillsammans ⨊GåFöre(O⨋)The FederatedMutualSociety.
⨊Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.
Its been a patchy week for me trying to pull together the very wide and disparate elements of a proposal along these lines. A few days more mulling over the People Powered Money Book and following up in more depth on the Examples it offers will help I think to provide a sketched framework within which we can identify a starting point or Pilot area and project.
⨊GåFöre(O⨋)The FedratedMutualSociety.
Lets chat through further thoughts and comments over this weekend. Happy Birthday to Angela for yesterday.
Rog
⨊ GåFöre(O⨋).
The FederatedMutualSociety.
On Sat, Apr 2, 2016 at 12:49 AM, Andrew Boyett-Camp wrote:
Hi Roger,
Very interesting what this guy was saying on Fox. A repeat of my last email even? (OFW’s, traditional banks not being innovative due to legacy systems, opportunities for financial services etc.)
Although he didn’t state it categorically, he also ‘implied’ that the Blockchain infrastructure is the key – even with +500 cryptocurrencies in the mix, most won’t gain any traction.
As stated in my last email. Western Union is buggered!
A WIR/Atom bank type setup (with a bias toward ‘community spirited finance’) and based on Blockchain technology, I personally feel provides much more scope than a currency alone.
I do concede that one very dangerous area is home loans/mortgages, as, without strict lending criteria, P2P type home loans is just another bad debt crisis waiting to happen…

Time to write the white paper and start building the DAPP.

Blockchain is a World Wide Super Computer distributed across an International Commons. WEB 3.0 Embodied Energy Based Value and money systems. #IPFS #AKASH #Steemit #

https://surplusenergyeconomics.wordpress.com/2018/05/19/126-whats-next-for-seeds/comment-page-1/#comment-6497

On Block-chain Tim and Donald it is worth considering that Bitcoin is about one third of the value of all cryptocurrencies, Ethereum, which I am a miner of, is half the size of Bitcoin. Respectively they have a Dollar value of 150 billion and 75 billion, the rest of the Crypto-currencies market including the two large currencies is currently 377 billion dollars.

https://coinmarketcap.com/

My Mining machines, which mine ERC Dagger type algorithms, are also computers which make up part of the distributed web. The distributed WEB is web mark 3.
Web 2 / The Cloud or internet of things is based upon a centralised model of computers with huge server farms, there are many such server farms in Northern Sweden because it is both cool and has abundant renewable Electricity Facebook here for instance. Genesis Mining has server Farms all over the world some in Icelöland as Donald says, this is because it is cool there and there is abundance renewable electricity.

In a Past Life, I became involved in data centre development. ( Some of my stuff from 1999 in this video)
123

https://www.youtube.com/watch?v=obPLIY6Z6Pc

East 14 dot com was an internet village scheme co-located by two large data centres with symbiosis built into the proposed development the site I sold to Ballymore homes who are actually now building this.
https://www.ballymoregroup.com/news/ballymore-launches-goodluck-hope

Application specific integrated Chip ( ASIC) Mining,  which Bitcoins SHA 243 Algorithm is mined by, means that Only the Bit Coin mining operation is supported on top of that Mining network, the Bitcoin Block chain can support a lot of trust-less transactions for distributed ledger work on that network but I believe although the Ethereum type currencies which can support the Distributed World Super computer, as well as participants in that distributed super computer being rewarded with currency at the same time as they participate in the distributed web eco system, is a huge opportunity for a distributed network system of exchangeable complementary crypto currencies.
Other crypto currencies such as burst coin and Hash Graph utilise Hard Drive and Mobile Phone technology and mining can be corespondent with Dagger mining with Claymore Dual miner for instance or just keep a ledger of centralised and centrally “Pre-mined” Coins as in the case of Ripple and Hash-graph or Cardano.

The Inter-Planetary File System IPFS has got to the beta testing stage and AKASHA is currently in BETA Testing, The Idea that such a valuable distributed supercomputer effectively in the WEB 3 commons is to be banned for excessive energy use is to me absurd. It Might be banned but the reason will be that it threatens the Central Bank IBS model of debt based banking.
There are 21 Blogs on my Blog about Block Chain and the distributed web.

https://letthemconfectsweeterlies.blogspot.se/search?q=Blockchain

Seeds along with Circular economy use models of consumption rather than ownership models based upon embodied energy valuation models could revolutionise a distributive debt-free rather than a re-distributive debt-based monetary ecosystem.

http://letthemconfectsweeterlies.blogspot.se/2018/04/akasha-smasha-decentralized-social_53.html

http://letthemconfectsweeterlies.blogspot.se/2018/02/the-distributed-web-energy-based.html

http://letthemconfectsweeterlies.blogspot.se/2017/10/getting-blockchain-central-banks.html

If you think about this post and then watch the Bernard Lietaer video I posted further up the Thread and then Think about seeds, tell me you do not get excited about the possibilities.

I have, for instance, seen criticism of Michael Gove and others referring to ‘ecosystem services’, and presenting damage to woodland, soil, insect life, oceans, etc, in terms of lost future GDP, and calculating this in terms of money.
This has been portrayed as crass and unspiritual. But it is, surely, essential to use the common terms of debate, otherwise one will be liable to be sidelined and dismissed.
I would add that the distance between apparent ‘wealth’ as expressed in GDP, and your measure of ‘prosperity’ is itself highly illuminating.