The Internet of Values
Indeco White Paper v. 1.1
Editor’s note: Indeco is committed to complying with SEC regulations for the issuance of securities during this pre-sale period, in our anticipated ICO and during the secondary market trading. Our lawyers have advised us that our full white paper should only be available as part of our complete offering memorandum. Interested investors can register at Indeco to receive more information on our offering under the SEC’s Regulation Crowdfunding rules (for any human regardless of income or net worth in the US) and our Reg D 506(c) offering (for accredited investors around the world.)
This posting is a brief summary. We hope you will register with us to learn more.
“For by now it must be evident that money is not wealth, but an idea which is concretized for purposes of human intercourse in symbols, or tokens, permitting of payment by take, and that said symbols or tokens have no value in themselves but are only evidence, to use a Biblical expression, of things unseen.”
Henry Miller, Money and How it Gets That Way
For the first time in history, we can design our own money. Cash isn’t just minted by national treasuries as legal tender that is only valid within political boundaries, it now exists on the network as tokens in a blockchain, an indelible ledger of global transactions and exchanges.
At Indeco (which stands for Independent Ecosystem), we’re leveraging the power of the blockchain to bring about positive environmental, social and economic change through the development of a new transformation form of commerce: asset-backed tokens.
Our standard unit of measure, the indecoin (INDE, pronounced “indy”), will be derived from the value of a single watt of solar power capacity. The value of a watt of solar power capacity can be described according to four axes, which we label “the 4 E’s”:
- Energy. The amount of energy that can generated in a typical meteorological year in a particular location.
- Economy. The monetary value of that energy generated based on local rates for utility electricity.
- Environment. The reduction of greenhouse gas emissions associated withe the switch from legacy power.
- Enjoyment. The improvement in quality of life from the application of the energy generated.
Because the global economy runs on energy, we believe the value of a watt of power provides a stable foundation for our token and should be sufficiently quantifiable and universal to support a stable, reliable crypto asset in the global economy.
This unit of measure can then be applied to other goods and services in a variety of domains. For example, energy efficiency projects, electric vehicle and bicycle sharing, urban gardens, microgrids and real estate development can all share some of the attributes of solar energy. Almost any project at the home, office or community scale can be quantified in terms of energy intensity or productivity, environmental and social benefits or impacts, economic costs or improvements and effect on quality of life. Indeco intends to develop a platform where the quantification of change in human habitat creates an index of value embodied in our token, indecoin.
The Indeco Platform
Our economy, even our whole civilization, is based on flawed, obsolete industrial-age economic models. Interestingly, we’ve coded those models into our tokens.
Cryptocurrencies such as bitcoin, ether and ripple, and national fiat currencies like the dollar ruble and yen, all have value because we believe they have value. When we purchase items or exchange currencies we establish the relative value of the money we are using as legal tender. This value is based on our belief in the relative scarcity of the items we wish to purchase and the scarcity of the money we use to consummate the transaction. After generations of gold, precious metals and national debt as the foundation of liquidity in our economy, we have become almost hard-coded for scarcity and the associated stress of acquiring resources and gaining wealth.
To create a belief in the value of tokens such as bitcoin, ether and ripple, scarcity-based metaphor systems and symbolic logic are employed, such as “mining,” “gas” and “proof of work,” as if the blockchain has simply replaced carbon-based life-forms with silicon-based functions wearing hardhats and headlamps while chipping away at rock with picks and hammers in search of precious metals and virtual gems, hitting the chuck wagon at lunch and punching the clock at the end of an exhausting day.
We believe the reason for this is simple: we equate value with scarcity, wealth with power and entitlement with control. We were raised in a zero-sum world with a win-lose mindset and have come to believe that the laws that govern the distribution of resources are as inescapable as those that govern physics.
Other tokens move beyond simple belief systems to a value based on digital resources such as file storage space (FileCoin), computer processing (Golum) and access to the social graph (many).
File storage, computer processing and social networks are critical attributes of the digital world, and migrating these services to a blockchain may add significant value and efficiency to the network by decentralizing access controls and establishing secure, anonymous transactions. Still, value in the digital world is primarily symbolic, based on our beliefs and interpretations of the assemblage of bits and bits into recognizable arrays of pixels, processes and personas. As immersed as we are in the virtual world of the internet, pressing matters outside our computer systems demand our attention.
The Challenge of Waste in the Global Economy
We believe our world, as an ecosystem, is collapsing from the continued exploitation of global resources through wasteful extraction and industrial economies. It’s more than a bit ironic that by artificially developing scarcity in an almost limitless digital world, cryptocurrencies have become extremely energy intensive. Even our metaphor systems and symbolic logic despoil nature and subjugate populations to mine useless containers of perceived value we call “wealth.”
In the global economic system, many aspects of wealth creation may appear as a form of waste. Through companies, banks, assets, liabilities, commodities, exchanges, stocks and bonds, value is extracted at every opportunity by speculators, while fees are paid to lawyers, accountants, brokers, exchanges, escrow agents, bankers, trustees, analysts and a myriad of peripheral service providers. We believe the investors, agents and entities that benefit the most from this system do so by reducing the wealth of other market participants, such as suppliers, workers and customers. Costs and wages are an impediment to profit, making our economy a zero-sum scheme.
We believe that if we simply recreated this wasteful mess of a civilization in blockchains and tokens, we would see some important incremental efficiency improvements, but we would have squandered the opportunity to break through to a new conscious economy, or what we call Indeco, the Independent Ecosystem.
The Minimum Viable Civilization
Indeco as a Company, network and platform will require four primary blockchain roles, the Investor, Supplier, Partner and Customer, to effectively scale the deployment of the assets, goods and services (“Assets”) necessary to help lower energy costs, reduce greenhouse gas emissions and improve quality of life. The individuals and organizations filling these roles will interact through the Indeco platform, with activities governed by smart contracts on the Ethereum blockchain. In some cases, the same individual or organization may take on multiple roles on the platform by owning multiple smart contracts.
To join our campaign, please register at Indeco. Many thanks for your interest in our offering!