The EquaCoin project aims to overturn the paradigm of scarcity that over the centuries has been generating an ethicless society often contributing to the unhappiness of individuals, when not to their death and destruction.
It stems from decades of philosophical, socio-political, historical, legal and technological studies.
Equacoin is not just a coin but it ethically, philosophically and culturally outlines a nation: the nation of those who accept it spontaneously, and share it.
It is a nation without a state, that self-adapts to the total respect of the laws imposed wherever it is shared. This stateless nation creates an economic space, without borders, that we could call Equacoin Ecosystem.
Equacoin is a currency that supports other currencies within the ecosystem space in order to achieve the complete fulfillment of the ethical project at its base.
The transition from an ideal currency to a practical tool, without frontiers, is now made possible by the adoption of blockchain technology that makes it global, secure, anonymous and permanent, with reasonable protection from any action aimed to undermining its foundations.
EquaCoin and the other currencies it supports are the property of the bearer who manages them through a virtual wallet, a wallet which by its nature cannot be seized or repossessed and in a reasonable measure ensures the anonymity of the bearer and the relevant transactions.
The Universal Income
EquaCoin and other script currencies that are based on it are the basis of a first, very ambitious project, that is the Universal Basic Income, a universal income paid on a monthly basis to all the members.
The natural persons who receive the universal income commit themselves, on their honor, to accept the script currencies in exchange for their goods and services, at least in the same quantity of what they have received.
Transactions and meeting space
When a citizen decides to exchange goods and services, he must always do it as peer-to-peer, using his own portfolio.
The product/service that he/she offers can be advertised by asking that his/her activity is included in a free e-commerce platform, which then becomes a virtual meeting and communication space among members of Equacoin Ecosystem.
Laws and rules
The laws in force are those of the states in which the transaction is concluded and generally coincide with those of the state of the seller (competent court, taxation, legality of the goods, etc.). The transactions are for cash, cash on delivery, that is they end with a peer-to-peer negotiation between seller and buyer, always.
The eCommerce space intentionally offers NO METHOD OF PAYMENT OTHER THAN cash-on-delivery payment in script money mixed with fiat currency.
The script currencies managed by EquaCoin are cash owned by the bearer, which can be transmitted in a few seconds all over the world at a negligible cost
Transactions — and with them the balances of coins held, are recorded perennially in the public records of the Blockchain of the Waves platform.
EquaCoin Wallets, are anonymous, multi-account, multi-currency, consist of elaborate encryption programs, RESIDENT in your browser that connects with the blockchain to read or write its contents, they are NOT home banking interfaces to centralized computers, as they might appear at first glance.
The password required to operate, and entered in the browser, remains local to your browser and serves to protect it from unwanted local access.
Each account is defined by the SEED that generated it (15 English words that come to constitute an encryption alphabet). If you loose it, the account will become inaccessible and its contents lost. You can make a security copy of the seeds to be scrupulously kept safe.
Into the Equacoin Ecosystem script currencies have, by definition, the same unit count as the reference currencies, therefore 1 EUR Script = 1 Eur-bank = 1 Eur-ECB, and so on with Dollars, Francs etc.
The exchange of Script money with other currencies, in order to create a black exchange market, is deplorable, undesirable and not aligned with the ethics of the initiative, it could lead to the loss of eligibility for universal income.
There is NO “connection” mechanism between script currencies and legal tender currencies. The issue of script currencies from scratch, as the one also done by commercial banks (Werner 2014), occurs without any equivalent legal tender or other minimum amount of assets present in the private banking circuit (including that of issues of money from the Central Bank of reference).
Equacoin Ecosystem Segregation
The Equacoin Ecosystem is absolutely distinct and segregated from the economic areas created by the reference legal tender coins.
Members hope for a future without bank currencies and therefore reject the use of bank currencies to conclude their transactions in all permitted ways.
Tax regime into the Equacoin Ecosystem
The script currencies are NOT coupon or other utilities aimed to obtain discounts on goods but are free acceptance cash bearer and will be accounted as they were credits, and as such also managed for any other legal purpose.
The above with references that can change from country to country based on national legislation and during the time.
Equacoin, April 20, 2019
The Signatories of the Manifest
English Release 0.2 on 2020–06–17