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So I read about this, but how exactly does it claim it can be backed by Earth's natural resources? Where can I read about this?

I'm hoping more specific details of that will be released this week.

Though in short - it's because its based in the Natural Capital Accounting System. To my understanding, its essentially a different set of rules, wherein a concrete value is given to certain assets - i.e. a newly planted tree is worth $xxx. It's not merely the Earth Dollar project's own system, but one designed by the World Bank and led by the TEEB guys - so it's an entirely new global standard working on being implemented.

I too, would like more info on the "official" interconnection with the system. Though given its legit and just needs further articulation, it's a pretty cool model - as the value of the Earth Dollar would therefore be attached to the contributions of network partners' activities in integrating the accounting system, recording natural assets and facilitating work valued within the system, such as planting trees, cleaning up pollution, etc.

In the meantime:

Frequently Asked Questions on Natural Capital Accounting (NCA)

What is natural capital accounting?

Natural Capital Accounting from TEEB

might offer more info.

and I've also started a Twitter list of parties involved with Natural Capital Accounting.

Thanks for this.

A few problems I see with this.

Whenever someone discusses "intrinsic" value as does the EarthCoin, red flags go up in my mind. In economic theory there is no such thing as intrinsic value, that is something has value in of itself because it has value. It's a circular logic that doesn't make sense and is often used in finance, but what they're really talking about is something more like book value. Value is subjective in all regards so for something to have value because it has value doesn't make sense to me. I'd need to see them address this issue before I can agree that something could be backed with $3T worth of assets.

One other note, if they are to value things like air, water, trees, etc. are they using markets to do this? Are they looking at the forestry futures and marking them to market on the books? I'm not asking you specifically, just raising the question.

That said it's a nice idea. I just need more proof of the concept.

Wow, am I also ever happy to come across your post!

Thanks you so much for putting this one on the exposure radar for us to see and invest into.

Namaste :)

Color me skeptical. A lot of this "green stuff" is pure hokum and BS designed to prey on the stupid and the naive.

Is the Earth Dollar in this camp? Not sure. I'd be cautious.

i really enjoy the concept and promotion, even the name. I am ready to invest in 11/11/2017

You said it all. ICO is now gradually becoming another means of scamming people. I pray we dont fall for the fake Coin @rok_sivante

This one smells bad to me. Smells like it could be in the scammish fako category.

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Very deep findings and coallating dear friend.

But the World Bank is involved through TEEB accounting system and we all know who controls World Bank but it states in their Values and Sacred Promises: DIversity- we believe in freedom, we do not believe in one world Government....

Sounds like subliminal message...

we all know who controls World Bank

paranoid conspiracy theorists may have their assumptions, though your statement is incorrect. No, we don't all know. And while I'm very familiar with all the conspiracy theories that'd attempt projecting the answer to that question as "truth," whatever facts there may be supporting their theories do not discredit the massive amount of constructive development the World Bank has supported and continues to support.

fuck presumptions of "subliminal messages."

here we have a project - Earth Dollar - that's working to solve global poverty and war, implement basic income, and grow an alternate economic model/system supporting the care of the environment - to say the least. those are BIG goals. not ones that can be accomplished by condemning the legacy institutions for perceived imperfections, but working with those who hold positions of power within them to collaborate in building the new and changing the old from within.

pardon my bluntness, though I can no longer take a soft stance on topics like these, having spent way too long in the conspiracy theory world and come to see the futility of condemning global systems based on assumptions and theories, when the solutions require an unbiased approach to understanding all sides of the story and moving forward with love, wisdom, and diligence rather than fear and judgment...

Earth Dollar is a fantastic idea, infact it represent all my plans and reason why i created @steem-lagos to solve some problems here in my locality. But in Conspiracy theories lies some tiny elements of Truth like the saying Goes; out of every lies there is always a fragment of the truth.

Of course. The problem arises, however, when certain bits of truth get blown way out of proportion, pieced together into stories, which then get attempted to be passed off a Truth, when what typically results is a grave distortion of perception and manipulation of context to support beliefs incongruent with the actual bigger picture as it is. Cognitive biases on hyperdrive.

There are too many ICOs recently, it's hard to keep track.... I hope it doesn't cause Cryptos to lose value and momentum they've been gaining, it'd be sad to have another case of internet bubble... This looks promising though with all their affiliations... It's just hard to tell these days

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Wow. How cool!

Good Post. Thank for sharing

Thanks for great info sharing

Im absolutely for the concept of it..but "The indigenous people have pledged 3.2 TRILLION dollars in assets to back (the) currency..."??
Common man...

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