Group Currency

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URL = http://groupcurrency.org/

Description

"A group currency (n) is a cryptocurrency that:

provides its identified members with

  • a basic income
  • voting rights over a group fund (optional)
  • and provides adequate means for transparency and accountability."

(http://groupcurrency.org/)


Discussion

"The right to mint currency has been historically limited to a small portion of the population because of difficulties in establishing counterfeit-proof tokens of concrete value.

By linking real-world identities to blockchain entries it is possible to extend this right to arbitrary groups in a manner that protects against fraud while preserving fair market valuation for arbitrary tokens.

In a sense, group currency is not a new concept. Traditional companies authenticate the identities of their employees, they provide them with a living wage, give out shares with voting rights, and are required by law to provide financial transparency and accountability.

It is OK to think of group currencies as establishing more efficient, transparent, borderless, on-the-fly companies." (http://groupcurrency.org/)


[[Category:Money[[