The Coop Network Weekly Update 10/2022
After the success of our first Medical Cannabis crop, we’ve made a status update for two of our other main activities.
Firstly, The COOP Academy. The building and land were already acquired via auction, a renovation costs business plan is ongoing and we’re planning on partnering with a major educational institution.
Next, our DeFi vision is in constant development. The legal DAO structure is already done and we’re working hard towards launching a decentralized app this year: the first fully legal investment and DeFi protocol.
We excitedly launched #CoopCrashCourse, a series dedicated to financial education, which probably we can all agree is much needed and beneficial for the general wellbeing of society. Especially in these times of important economical changes.
It begin with CC#1.1, an article on Understanding Money.
We talked about how money is anything that is accepted as payment for goods and services. Money is not necessarily something with intrinsic value, but rather a social construct. What gives money value? The answer to this question is complicated, but essentially it comes down to trust. We trust that money will be accepted in exchange for goods and services in the future, which gives it value. Money also is, in essence, an exchange of energy.
Money functions primarily as a medium of exchange, but it also has developed secondary functions that derive from the main one, like: a unit of account, a store of value and a standard of deferred payment.
Read more on our blog —
CC#1.2 followed, on Understanding The Monetary System.
The monetary system is the set of laws and institutions that govern how money is created, used, and regulated in a country. It includes the central bank, which is responsible for issuing currency and regulating the financial system, and the banking sector, which provides loans and other financial services.
The biggest myth in economics is that the government prints money. Rather, the government borrows money from the central bank. Most of the money in the world is created by banks. When a bank approves a loan, it creates new money, which is then deposited into the borrower’s account and can be used to purchase goods and services.
It’s important to understand that today’s monetary system exists primarily as digital numbers recorded by banks as bank deposits. This makes modern money both someone’s asset and someone else’s liability. Otherwise put, most modern money is credit.
Read more on it —
We also wrote an important article here on Medium, comprising the essence of The Coop Network. Make sure to give it a read and stay tuned for more.
We’re slowly but surely move towards our vision: a decentralized system where capital can be distributed in a more equitable way, where new technology is used wisely, while the wellbeing of both the people and the earth is a priority.
“You never change things by fighting the existing reality. To change something, build a better new model that makes the existing model obsolete.” — Buckminster Fuller
Noting that the first nodes in our community are coming to life! Exciting to see the network growing strong, node by node.
The increase in the number of nodes operating on the network is vital for ensuring its security and stability, so we always encourage our community to participate by running full nodes with open APIs. There are benefits on both sides — the network is further secured, while you enjoy financial incentives and the perks of distributed ledger solutions.
Twitter | Blog | Facebook | Instagram | Telegram | Telegram RO | Announcements | TikTok | YouTube | LinkedIn | Whitepaper | Explorer
