RE: Ask me anything about vehicle dynamics,power train, drive train, steering,Data acquisition
That's very interesting @lanmis! I'm surprised that your not vested in the current forms of crypto currency!
I have to say though... I believe any projects supporting the local economy would be what the world needs more of. I never thought of designing a local crypto currency... I think this could be a brilliant thing if it is done right!
One of the big problems with a global currency is that it is insulated (yeah! We have been talking a lot about insulation! hahaha!) from the specific needs and hardships of the local economy. We are talking about REAL people... People that often get left behind when your dealing on such a mass scale.
As well It's a big concern when you have big corporate entities shifting wealth away from the local economy's and to the uber wealthy living far from the poverty they create.
A cycle of greed and poverty is easily created with a global currency however a layer of local currencies could be the answer to this dilemma... As long as you don't accidentally create second class citizens like in Cuba.
Last time I was there, that's what I realized... Because they had the local Cuban peso and the International peso they in effect (be it intentionally or unintentional) had created a two class society.
The local peso enabled the locals to buy local goods and services but because the exchange into international pesos was so high they were reduced to subsistence, want, and poverty. Although the island produces what the locals need to survive it doesn't allow them the affluence to purchase internationally manufactured goods like running shoes and the digital aspects we all take for granted here in Canada. It was a real eye opener to say the least...
I respect your desire to support the local economy and I really hope that you and your team are able to create something note worthy and healthy for smaller communities. Please let me know when you launch! I, of course, want to learn more!
The reason why we're creating it is to stop one person from getting super rich on the backs of whole world.
For example, Uber.
They won't be able to become so wealthy (even though their price is pumped up more than value). They could operate everywhere, but they will be paid in local currencies without having an option to exchange so much different currencies into $.
Let's say they operate in 100 towns. They would earn 100 different currencies which they won't be able to use for anything outside of those towns.
Why would someone in Silicon Valley become rich because every taxi driver has to pay them 25%?
That's called mafia style.
This way, drivers will be able to keep 100% (like they were before), locals have more money, more job opportunities since it boosts local production etc.
Bristol did that, so it proves that it can work.
Cuba's problem isn't local/international currency. It is US embargo.
Take a look Venezuela. Their currency has super low value. Average salary is like 3-5$...Why? Because US want's to put their guy on the top of their country...so they destroy the value of local currency, prevent them from exporting local goods etc.