Decentralized digital money for the masses.
A widely available, dependable and easy-to-use digital currency, that people can buy, use, hold and collect interest on, without the constraints of banks.
Notice: This document is a research proposal, and in no way makes promises about the full functionality of any derived implementation, nor does it represent a commitment to build, deploy or operate such a system. Its sole aims is to envision the process of defining, planning and productizing such a system and product.
Notice: The research proposal is provided “as is”, without warranty of any kind, express or implied. In no event shall the authors or copyright holders be liable for any claim, damages or other liability, whether in an action of contract, tort or otherwise, arising from, out of or in connection with the research proposal or its implementation or the deployment on a public blockchain as a working contract, or the use, or other dealings in the research proposal and any of its deployed on-chain contracts.
- Digital money for the masses - Provide everyday people with a usable (requiring minimal cognitive load) and competitive (interest bearing) digital stable-coin based on blockchain technology.
- Wide availability - A currency cannot be easy-to-use if it is not widely accepted by a network of people and businesses, and it is not widely accepted if doesn’t grow past a tipping point, where mainstream financial ecosystem players are incentivized to support it.
- Maximal decentralization - Eliminate risk of capture and minimize need for centralized trust in order to increase chance of adoption, and to significantly reduce risk of failure.
- Incentivization - Provide loan takers with sufficient incentives to get loans (open debt positions with collateral), competitively compared to other market solutions. Provide system maintainers with a competitive but profitable business model that incentivizes and guides them into constructive behavior.
- Simplicity - Minimize operational complexity, such that it is relatively simple for all stakeholders to predict the system’s automated behavior.
- Blockchain technology disrupting finance - Progressive digitization and decentralization of financial assets and processes through use of blockchain technology will increase the efficiency of building and operating financial systems by orders of magnitude.
- Collateral-backed stable-coins - Best known (state of the art) method for creating a blockchain stable coin is through using digital assets as collateral on a smart contract.