Sovereign Cryptocurrencies for People, Corporations, Banks and Communities: Foundations for Grassroots Cryptoeconomy
share
The ecosystem of cryptocurrencies benefits the few and exacerbates economic inequality. Here, we aim to offer an egalitarian and inclusive alternative by morphing the concepts, tools and technologies developed by the cryptocurrencies ecosystem, together with the distributed computing technology that enabled it, into novel foundations for grassroots cryptoeconomy. The foundations are layered, with each layer consisting of a cryptoeconomic component and a computational component, supporting the layers above. A key message of this paper is the coupling of the economic and computational features of the novel consensus-free zone: rich economic functionality with lean computational implementations. They make the proposed layered architecture, inclusive of the consensus-based layer, promising foundations for grassroots cryptoeconomy.
READ FULL TEXT