Many Worlds. One Economy.

SORA
SORA
Sep 23 · 9 min read

TL;DR

  • XOR is designed specifically for use as a currency in any country because it allows governments to make funding proposals, and mint XOR for productive economic activities via a democratic process
  • XOR has predictable price dynamics, making it perfect to power the economic structures of the metaverse while being versatile enough to accommodate cross-functionality
  • XOR can be scaled up to serve as an InterPlanetary Economic System (IPES)

XOR, the Gateway to Many Worlds ⛩

As you may have noticed, SORA recently changed its primary tagline from “One World. One Economy.” to Many Worlds. One Economy. As catchy as that sounds, you may be wondering, what does that change entail?

Pushing the Boundaries of What DeFi Can Accomplish on Earth

Currencies in most parts of the world are by their nature centralized. Fiat money is issued by central banks and, as opposed to popular belief, it has neither intrinsic value nor functional utility. After Richard Nixon decoupled the US dollar from gold reserves in 1971, fiat money became the predominant system of global currency, but even throughout history, precious-metal-backed currencies always incorporated some form of elasticity in the form of credit. Therefore, whatever value currencies have is a function of the trust in a centralized entity, such as the government, central bank, or other parties involved in the issuance and settlement.

出雲大社 Izumo-Ooyashiro, The Shrine in the Clouds

Beyond Bitcoin and El Salvador

With the implementation of Bitcoin as legal tender in El Salvador, there has been some controversy surrounding the practicalities of this decree. For starters, Bitcoin will join the economy of El Salvador as a foreign currency, outside the control of the democratic processes of El Salvador, not as a local currency. This means that the economic structure of El Salvador does not stand to benefit directly from the addition of Bitcoin as legal tender, partly because of its price volatility and no correlation with the economic needs of the country. Additionally, as a consequence of the General Quantity Theory of Money, without the creation of new purchasing power, there can be no increase in GDP transactions (unless there is a change in the velocity of money, which is hard to attenuate in large, mature economies), meaning there can be no significant economic growth using Bitcoin as legal tender.

Enter the Metaverse

The term Metaverse has become a buzzword surrounding many aspects of digital life. Virtual worlds, virtual reality, virtual spaces, virtual insanity, games, and even new platforms for creating and sharing user-generated content are all considered one form or another of the metaverse. All these components are connected in one form or another and these connections form, what we can consider, the interconnected metaverse (there is a great and elaborate explanation on the topic here).

The Sky Is Not the Limit

In the future, humans will be an interplanetary species, spreading throughout our solar system and beyond. With the scientific breakthroughs happening in space transport, this is an inevitability.

About SORA, Polkaswap, and Fearless Wallet

SORA

Many Worlds. One Economy.

SORA

SORA is working to become a decentralized multiverse economic system, financing the creation of new and exciting applications, under the democratic supervision of the SORA Parliament.

SORA

Written by

SORA

SORA is working to become a decentralized world economic system, under the democratic supervision of the SORA Parliament. One World. One Economy. SORA.

SORA

SORA is working to become a decentralized multiverse economic system, financing the creation of new and exciting applications, under the democratic supervision of the SORA Parliament.