Does ReMoneta support the World Economic Forum guidelines to improve global commerce?
Surety, Stability and Shared Values
In 2016, the World Economic Forum highlighted that the previous global economic crisis caused a deterioration of public trust in financial institutions and that the challenge now is “to create a resilient, accessible financial system that people trust,” and which would be able to withstand any future shocks in the market. However, we have seen that the modern global system is not capable of changing itself but continues to be based on the existing static structures. Values of currencies are based on future promises, political statements, and economic vagaries of the country which issue them. It relies on banks lending money which does not exist and therefore the belief in the system is easily shakable because it has no solid foundation.
Throughout history, there were either kings with their “divine” law or governments that had the power to set laws, print and share money. Currently, cryptocurrencies have the possibility to supplant the financial control of governments without central power intervention. Given the decentralized aspect of cryptocurrencies, their potential to improve this system is high, but the only problem is that there have not been any cryptocurrencies yet which meet the requirements needed to improve global commerce — until now. I recently wrote about ReMoneta impacting global policy. When you dig deeper into this online currency, the foundation seems to be in place to potentially make sweeping changes that have been written about or promised but not yet brought to fruition. For ReMoneta to now inherit that public trust, they need to meet three criteria: 1) Surety, 2) Stability, and 3) Shared values.
Unlike many other crypto products, ReMoneta is a real currency, which is created to be very secure — both technologically and economically. Most interestingly, the group of companies is backed by land. There is no leverage on the land, so also no financial risk in that sense. It is difficult not to trust the land which we stand on. It is real, solid and the basis of economic activity everywhere. When a currency system is backed by land, it is backed by something which can be seen, felt, and its value measured. Trust also comes through security. ReMoneta has introduced a “follow-the-money” system to make blockchain even more transparent, and considering the latest hacks, well necessary. No more “hot air”. This helps tackle the issue of surety.
The prices for both crypto- and fiat currencies can be very volatile and unstable, sometimes to a large extent. The result would be inflation, falling values, and loss of personal wealth. In contrast, ReMoneta together with its community have designed stable pricing, which is built into the system with long term machine intelligent computer modelling. Of course, then backed up by real value land. In addition, community members and retailers drive the system themselves and are rewarded for their actions, so the system is inherently decentralized, unlike some other cryptos which come across as a crypto version of a centralized business. Thus, the second foundation of an improved economic order is built.
One overlooked aspect of trust is social values. According to a research made in 2012, of the consumers in the study who said they have a brand relationship, 64% cited shared values as the primary reason. Brand loyalty starts with shared values, even if the brand is a currency or the global economic system. When the currency supports shared positive values then it will be trusted more than when it is simply an alien and distant number in a bank account. That is another factor of Remoneta which is quite unique. It incorporates positive global values into the currency. The idea being, by every purchase and use, ReMoneta will have a positive impact on consumer and retail behavior and that in turn makes global commerce into a value-based system.
We can now see that cryptocurrencies are evolving. ReMoneta has been called Blockchain 4.0. In fact, this currency is something else. It is a unique development which has the real potential to impact policy and drive a new type of global commerce. ReMoneta could very well be an important tool for the world community to move forward, and a tool to solve some of the key issues in global commerce identified by the World Economic Forum.
Kuido Merits
