DRC — it’s a big ‘þing’
Those familiar with Norse runes may recognise the DRC logo as ‘Inguz’ or ‘Ing-Rune’. Visually resembling the chain of the human DNA, this letter is symbolic of the ability to bring life into being, to allow growth and accumulate great strength.
During the Viking age, a þing /thing/ was the public assembly of the free men in a society. The word is the same as the more common English word ‘thing’, both having at their core the basic meaning of “an assemblage, a coming together of parts”. The DRC Foundation is at it’s core an assemblage of free actors who together, upon their own initiative, are attempting to make DRC a globally adopted Store of Value. As DRC is a decentralised digital asset, it’s power to propagate around the world rests in the community of free actors that have gathered to be the beating heart of this ecosystem. DRC’s future direction follows the wind cast by those that feel personal financial freedom is an unalienable human right.
Cross-border Financial Freedom
COVID-19 has revealed deep cracks in the current global financial system. To preserve the existence of a wounded economy, central banks across the globe have significantly eased monetary policy by cutting policy rates and providing enormous liquidity to the market. This liquidity has diluted the assets of the average person, reduced their power as an individual in an economy controlled by financial position and ploughed further power into the hands of a diminishing few.
The current financial system with its central authority has an inherent problem: the goals of the authority can diverge from the goals of the users of the system. As the recent pandemic has shown, central authorities, with all their associated fiscal and monetary sway, are amassing power and wealth. The countries that have fared best in this time are those that have the largest control over their financial infrastructure.
We believe that because of the flaws in the current global financial system, with its overvalued assets, leveraged products, and centralized manipulation, the demand for decentralized and censorship-resistant “store of value” assets will increase significantly. With the introduction of Bitcoin, it became clear that governance systems can function in a decentralized manner. Bitcoin introduced an innovative approach whereby the functions of a bank have been replaced by an open-source software.
DRC token has the potential to become a decentralized digital store of value with a zero inflation rate. The token is fully developed and operational and its holders are immediately able to use it for its intended functionality on the Ethereum network. The DRC token structure and limited supply are embedded into the code and are designed to meet the needs of its holders. No one has managerial control over DRC ecosystem nor provides essential managerial efforts that affect its success. Thus, DRC has a fully decentralized structure.
The Ecosystem
Due to its essential decentralised nature, decisions regarding the future of DRC — its investments, its utility, even its marketing decisions — are decided entirely by the community. The DRC community democratically elect 5 representatives to serve for one-month terms. These representatives serve as active advocates and ambassadors for the DRC community and engage in identifying partnerships and resources necessary for DRC to advance its mission. DRC Community Representatives are responsible for strategic planning, ongoing communication with the DRC community, and enhancing DRC’s public image and reputational standing. All whilst fully answerable to the community it serves.
DRC Representatives refine the ideas of the brilliant DRC community into digestible and actionable proposals. These proposals are then set to the DRC Governance DAO. DRC token holders vote on the proposals in order to put them into action. The DRC Foundation was created to oversee these operations. The DRC Foundation Fund receives donations from all that believe in the vision; both Ethereum and DRC tokens are accepted as a funding mechanic for the propagation of DRC’s goals. The Fund’s ERC-20 wallet address is publicly available for all to see.
In the early stages of DRC’s development, Foundation funds are being used to build the necessary parts of the DRC ecosystem; international communities are being built, local DRC investors and advocates that are contributing to the ecosystem are receiving payments. As the project grows, so too will the Foundation’s capabilities. One dreamer has suggested that DRC Foundation will in the future act like a genuine foundation, taking on proposals from parties all around the world, providing funding much like an NGO would.
The DRC ecosystem is a vibrant and growing amalgamation of use cases, all underpinned by the DRC token. Partnerships are cropping up in unexpected places, ideas flow from all in the community; all are listened to and respected. With DRC here to stay for years, growth can be fast or slow, but growth is inevitable. The ecosystem is constantly being revised and reviewed, but DRC will always remain the same. Its simplicity is its biggest asset, in a world full of complex and rigid mechanics that tear apart at the seams during a single moment of stress. The global economy is failing its latest stress test, and the lifeblood of the system — the people — are looking for alternatives. DRC is offering such an alternative. The DRC Community are the organs of the growing body that is the DRC Ecosystem, breathing life into every limb, driving it forward.
The Roundtable is in session; have a seat
The decision on how to name the DRC Community was held to a poll in the DRC Telegram — ‘DRC Vikings’ was a resounding winner. The 700 strong group in the majority decided to follow the symbolism laid out in DRC’s logo, chosen by DRC Founder Maxim Nurov, and adopt the moniker ‘Vikings’.
The Ing-Rune’s symbolism: growth; strength; even life itself, is the guiding sail for the DRC Foundation and the Viking community. Infamous for their cross-border interactions, for pioneering with currencies and other metallurgy, their early adoption of democratic techniques such as open debate and their overall incredible sense of togetherness despite the changing world around them, Vikings are an apt moniker for the community being formed here at DRC.
With the introduction of democratically elected Representatives and consistent open, honest and frank discussions regarding DRC and it’s future, the DRC Viking community is like no other. Since the very early stages the vision is clear; a store of value is more than just an asset. It’s a vehicle for financial freedom, a sense of understanding of the status quo and a desire to break free from its chains. DRC is an indivisible Ethereum-based token. 1 DRC will always be 1 DRC. This consistency imbued within the token runs equally through the community.
Indivisible We Stand
