The History of Appreciating Monetary Units. WAU Coin and NUMA
I. The Birth of Appreciating Monetary Units
Tragedy. The idea of appreciating monetary units began in the tragic aftermath of the 2008 global economic collapse. Major banks like Bear Stearns, Lehman Bros, and others, began to collapse under wave after wave of dollars being removed from the banking system. Leveraged assets, mutual funds, mortgage backed securities, and collateralized assets fell into an abyss of zero value.
Research into the collapse showed clearly that the central banks had made fatal errors in estimating the economic fallout and domino effect that would follow the failure of key investment and retail banks. Broadly diversified portfolios of mutual funds were destroyed. Massive funds of assets with real holdings in jets, land, ships, bonds, corporations, and more collapsed to zero and near zero prices, wiping out trillions of dollars in their path, and causing unmeasurable human distress and economic suffering.
From this broad collapse an idea was born. The architect of NUMA and WAU Coin started the Internation Reserve. The Internation Reserve project was begun in 2009 to create a decentralised monetary unit and store of value system that could not collapse. Using SQL database software, a web interface, and visual c++ code, the first Internation Reserve system was created, put online, and numbers were crunched. The goal was to create Appreciating Monetary Units that could be used as a backstop and store of value that would be unbreakable, and predominantly rise in real exchangeable value.
After evaluating every possible combination of assets and weightings, it was determined that no ratio of direct or counterparty held commodities/currencies/securities/bonds combined with a simple distributed ledger would be strong enough, and forwardly anti-fragile enough, to accomplish this goal. In 2010 the Internation Reserve was put on the shelf, and the goal of appreciating monetary units remained elusive.
II. The rise of cryptographic digital currencies
Great efforts were being made by the architect of NUMA and WAU COIN, in 2009–2010, to create a decentralised ledger based asset system that would create strong Appreciating Monetary Units via the Internation Reserve Project. At the same time Cryptographic experts were creating new ideas of decentralised ledger currency based on nothing but computers ability to solve puzzles.
Untied to any country, banking system, or any assets at all, the early cryptographic currencies were considered worthless, and that was the start of a monumental shift in peoples perception of value. Soon the leading crypto ‘Bitcoin’ had a small group of enthusiasts making faucets, websites, and a determined eagerness to create value from ‘Bitcoin’, and they did.
Bitcoin rose in a fashion not unlike VHS video tapes, being used only by the creators and a small group of first adopters, then finding growth in areas that governments, central banks, and families find dark and unseemly. Only after critical mass in the Bitcoin ecosystem was achieved did it begin to be adopted by the general public with p2p payments, exchanges, e-commerce, and other legitimate use flourishing.
From the successful adoption of Bitcoin, and other new cryptocurrencies finding legitimate real value for large groups of people, the notion of making Appreciating Monetary Units again became possible. In the summer of 2017 the original architect of the Internation Reserve, and Appreciating Monetary Units system, reopened that chapter and began work on using blockchain cryptocurrency as the basis for a globally available fully functioning Appreciating Monetary Unit that could be used by anyone with access to a cellphone tablet or computer. Numbers were crunched, algorithms were streamlined and bulletproofed.
The worlds first Appreciating Monetary Unit cryptographic digital currency was finalized in late November 2017. The actual units were created as 1,000,000 immutable and non re-issuable WAU Coins in early December 2018. WAU coin = WOW Appreciating Unit!
With the successful creation and launch of the extremely limited supply WAU Coin in January 2018, this powerful new asset class was created and realized. With WAU Coin anyone in the world can securely buy, sell, invest, and transfer appreciating monetary units anytime, anywhere, on any device.
In order to serve a larger ecosystem and to allow more people to harness the power of AMUs, ‘Digital Currency Laboratories’ was established and tokenized to become the decentralised organization to lead the way. A new AMU called GBEAM with a larger but still fixed supply, and a larger ecosystem was developed. GBEAM was developed using slightly modified versions of the bitcoinNG blockchain academic paper and amutech formulas, perfected for WAU Coin, as the basis.
Then came the big crash. During the development of GBEAM in winter 2018, the cryptocurrency market crashed hard. Many cryptocurrencies lost 80–90% of their value. Regulated futures markets were opened in Chicago for Bitcoin, and the drop was triggered.
WAU Coin did not crash with bitcoin and other cryptocurrencies. WAU coin continues to outperform the major cryptocurrency market, and has reached all time highs every week since release. Mathematical models predict that WAU will outperform the vast majority if not all other stores of value over long time frames for the foreseeable future. But, the Bitcoin and cryptocurrency crash of winter 2018 taught a deep lesson about protecting and growing digital capital even in times of extreme downward volatility.
The Bitcoin crash of winter 2018 exposed the real need to create an Appreciating Monetary Unit cryptocurrency with a root value that is not derived from the cryptocurrency markets but instead, has its root value based on the US Dollar.
GBEAM was rebranded, nearing release. The GBEAM algorithm was reworked to create an appreciating monetary unit cryptocurrency with ultrafast transactions, that would climb in dollar value, and reduce volatility to a minimum without sacrificing gains . GBEAM was reborn as NUMA. 11,000,000 immutable and non re-issuable cryptographic NUMA units were created.
NUMA is the worlds first appreciating monetary unit with its root value based on US$. WAU coin is excellent for appreciating against the broad cryptocurrency market. NUMA is built to excel at appreciating in US$ value regardless of the cryptocurrency market. Because of the USD root value, ultrafast near instant transfer speed, energy efficiency, and low cost, NUMA is positioned to be the best cryptocurrency technically possible for transfer, growth, store of value, and mass fintech usage. Victory !!!
WAU Coin is available now and rising. NUMA will be available beginning on 4.24.2018 at 2:00 PM ET. Both WAU Coin and NUMA utilize the waves decentralised exchange, trading in the waves/WAU Coin pair, and in the USD/NUMA pair for globally compliant, transparent, auditable, and immutable decentralised access.