Our Manifesto
In many ways, our project manifesto is very close to the original ideas of Satoshi, when he created bitcoin as the response to many grave concerns he had in terms of centralized powers and central authorities — it is the individual that must be big, free and empowered
Introduction
Our project is not only based on developing advanced technologies facilitating the creation of a new open financial system, but it is based on a certain philosophy and ideology that emphasizes the power and potential of the individual, and is also very close to the very sound concerns that the creators of many successful projects such as the bitcoin had on their minds, when they realized their visions. Some of these concerns are greater than ever today, and smart application of blockchain technologies and cryptocurrencies will help to bring sustainable solutions to these problems. These issues should also provoke opinions, discussion and debate, and lead to global action, until such problems have entirely been solved.
Empowering the Individual
At the core of new technology is its empowerment of the individual, with new powerful tools to transact, to practice economic activity, and build wealth. The individual will be more powerful than ever before.
Facilitating Financial Inclusion
Our ecosystem will facilitate global financial inclusion though advanced technology. Everyone is free to access the power of the network and the services made available on it, with only a smartphone running the network wallet being required. The network wallet will be an interface to many other services through dapps offered on the network. Free entry and exit without any constraints or barriers will facilitate global financial inclusion, and bring potentially hundreds of millions of non-banked or underbanked to the new open global financial system.
Creating New Economic Growth & Wealth
Increasing global financial inclusion and access to financial services through the network will boost economic activity, and further, creation of new wealth. Entirely new kinds of activities will take shape in the crypto economy, lowering barriers to financial services more than ever before. Given vast numbers of people having newly enabled access to the open global financial system, new economic activity and growth will be automatically created. Access to financial services, savings and investments, will further amplify the creation of new wealth and improve the state of the world.
Promoting Individual Freedom, Choice, Privacy & Independence
Recently, through various data leak scandals, compromising individual data and revealing the massive extent of personal data accumulation to the most intrusive extent, global concerns for privacy have resurfaced. Cryptocurrencies and blockchain technologies introduce new tools that enable better privacy and confidentiality of transactions and financial situations, and also promote better choice, individual freedom and independence of central entities such as governments.
Big Individual, Small State
Governments should be for the people, not the other way around. The individual must be big, and the state must be small. States are there only to serve their people and facilitate the basic infrastructure for a society. Decentralized technologies move power back to the hands of the people, when powerful tools and services are available without any central authority controlling them. Distributed ledger technologies, decentralized blockchain networks make the individual big again.
Only Reasonable Powers Are Reasonable: Curbing Excessive & Unchecked Powers of Regulators
Over the past ten years, there has been a massive ‘big state’ power grab executed by regulators and other bureaucrats, transferring excessive powers to unelected officials. This has gone way too far, and such powers are often de facto entirely unchecked, and those that exercise them, often grossly abuse them, given lack of any true accountability and any real check and balances. This has led to a massive weakening of the banking sector that is crippled by overregulation and massive abuse by regulators with cases of entirely illegal destruction by the regulators being more and more prevalent, for which they must be held responsible and shoulder the final liability in person and as institutions. New decentralized technologies, where there is no issuer, no counterparty, no entity to be regulated, brings the power back to the people, where it belongs, and gives the freedom to practice economic activity and generate value-added. Only smart, constructive regulation applied with reasonable powers with full checks and balances and full real accountability by regulators of their acts are welcomed: public servants are there to serve, not to abuse their powers.
The De-Central Bank of Crypto
In the decentralized world of blockchain and cryptocurrencies, there are no central entities such as central banks or any other closed ledger banks. The network is the bank, and the blockchain network itself can be seen, ironically, as the ‘de-central bank of crypto’. Blockchain will make banks and bank accounts, as we know them now, disappear, and morph into network interfaces, and traditional central banks will eventually have nothing to regulate, when technology-driven issuer-less money and monetary systems will replace the archaic current ones. ‘Central bank cryptocurrency’ will not happen, because the central banks would then undercut all banks they control and thus disintermediate the system, which would destroy the banking sector and then decrease the powers of the central banks, when there is no banking system left. Central banks will be gradually rendered useless through issuerless cryptocurrencies that the users will trust more, which again gives the monetary power back to the people, not to any unelected bureaucrats that keep printing money that is based on nothing else than the paper it is printed on. This will be a true democratization of finance, and it will eventually take place, for the good and benefit of all — a true Darwinian evolution that must be embraced by all including the central banks and banks themselves, not rejected, resisted or fought against. A new powerful era, with the individual more powerful than ever, will emerge.
More information about our project on its website.
