Social Economy market and Blockchain technology fundamentally have something in common; the rapid growth and upgrade. But is there a link that feeds that common route? Probably, the answer lies somewhere in the betweens of the history of (de)centralization, long before becoming the key aspect of Blockchain technology.
In this text, we articulate how decentralization enhances Social Economy market and how SocialPolis Coin Project is headed towards this.
Over the centuries, humankind has shown compliance with the hierarchical pyramid of power structrures, in both social and financial world. On the one hand, there is the notion of the ‘social contract’ — where humans collectively agree to compromise bits of their freedom for civil society — as it has been broadly analyzed by a range of great political philosophers of the 17th century Enlightenment. In that context, human interaction in terms of trade or governance is becoming inevitably predetermined if not enforced, as centralization tends to act as a barrier to further organic development. On the other hand, Blockchain technology eliminates the need of a third party mediation enabling the possibility of an alternative organization of society and by all means, cultivating a different dynamic between equally-acting parties.
Given how Blockchain technology and Social Economy share common basic principles such as (i) equal and transparent participation in economic growth for everyone in a responsive and efficient way, (ii) decentralization and horizontal linking of nodes, and (iii) distributing part of the profits back to the community/ecosystem, SPL is here to address the ongoing lack of real-life applicable, high-end tech solutions to support social causes and sustainable development endeavors.
Where is SocialPolis Coin headed to?
SocialPolis Coin is the only dedicated cryptocurrency to the development of Social and Solidarity Economies globally. SPL aims to become the first cryptocurrency, produced through tokens, reflecting the real economy of the financial sector and offer major competitive advantages through the:
• Reduction of the financial cost of its activities.
• Reduction of the financial cost of the transactions between the participants in a well-defined ‘ecosystem’ of coops and NGOs.
• Free availability of the basic tools to this sector in order to develop secure
applications that will distribute the benefits of the technology to all its members.
SocialPolis Coin is headed towards shaping an ecosystem that allows the development of a fully remote self-managed decentralized platform for Social Economy on the Blockchain. Such a challenging task involves using SPL Coin, the right combination of cutting edge technologies that have recently emerged and are transforming financial (#fintech) and Social Economy (#proptech) realities. The SPL Coin serves as a lever for facilitating the operation of social and sustainable economy activities and on the other hand as a tool to support investment actions in the sector.
Sharing Economies — the first form of decentralization economy
The last decade, sharing economies were facilitated by the evolution of internet. Lots of examples like Wikipedia, AirBnB, BlaBlaCar, and Uber come to verify the rule the decentralization can work efficiently and unproblematically. Sharing economy is an archetype of decentralization, as it relies on systems of trust, open source data, crowdfunding and efficient use of resources. However, while these services rely on decentralization to operate, they remain centralized organizations, which means that the platforms act as intermediaries. Additionally, the intermediaries are vulnerable to clampdowns by governments, as Uber have faced around the globe.
Social Economy — where decentralization takes form holistically
The Social Economy sector is a rapidly growing field waving between the public and the private sector and the private one. It comprises of officially recognized, private, state-independent, not-for-profit, and democratically-governed organizations established under the primary goal of serving their members and society. Besides not-for-profit entities, the sectors pertains innovative market-oriented collective institutions with a statutory commitment to public or community benefit.
Digital currencies and Blockchain-based organizations can contribute to decentralized Social Economy almost by default given their attributes. Various tokens and coins designed to operate within Social Economy boundaries employ and accelerate the public audience’s optimistic vision for the future. In addition to providing more independence, as power is returned to the people, Blockchain systems offer a more secure environment for marketplaces and ecosystems. Blockchain-based-developed ledgers automatically cryptographically encrypt and long sensitive information. This combined with the decentralized nature of the data storage, eliminates the costly risk of cyber-attacks and manipulation of data, unlike the existing infrastructure. Furthermore, the ‘trust-less’ verification processes to a number of different niche industries where information management and authentication is a major burden (e.g. healthcare sector) can act as a relief.
To sum up, it is not an exaggeration to argue that there is an almost organic ideological correlation between the notion of Social Economy and Blockchain-based decentralization. What we shall see is whether the technological advantages of the latter can actually be regulated and formally employed to address a rather wide spectrum of problems ranging from data manipulation to civilian protection. Regardless the amount of time required for all the above, SPL Coin aims to coninuously operate as a confidence-building mechanism and as a tool for the advancement of Social Economy but most importantly, as an enabler for human centric investment in the area of Blockchain.
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