The money called fiduciary, is the one that is based on the faith or trust of the community, that is not backed by precious metals or anything that is not a promise of payment by the issuing entity. It is very important to specify that the trust of the community as the whole of the apparent wealth represents the issuing community of the currency. It is the monetary model that currently dominates the world, it is the US dollar, the Euro and all other reserve currencies.
This first monetary system was used in the 11th century around 1,000 AD in China, is responsible for the expansion of the Yuan and Ming dynasties.
It was a bronze shell called the chao. Since then, the currencies supported by the government have called the world economic outlook. Money was a commodity with intrinsic value and coins were worth their weight in the metal they were cast.
But since 2009, an anonymous author proposed the first fully decentralized peer exchange Monetary system not dependent on government or banking intermediation. Cryptocurrencies were developed with slight modifications to Bitcoin.
In the second quarter of 2018 the total of cryptocurrencies is valued at more than $300 billion, more than 1,500 cryptocurrencies and tokens with a collection of more than $4 Billion in tokens.
Currently, the traditional accounting is managed by banking entities and card companies having full control, leaving the possibility of manipulation between corrupt parties without guaranteeing the transparency in their transactions.
Cryptocurrencies have been established worldwide as an opportunity that, while risky, allows no fraud to people with less financial knowledge.
The new emerging financial industry applies technology to improve financial activities, shifting power to the individual. The tools used by the emerging financial industry allow wealth to be stored in smaller ecosystems, or local currencies, and be recognized within a global valuation framework.
We can mention two examples of successful currencies; BerkShares launched in September 2006, BerkShares is currently accepted by more than 400 companies and 8 local banks.
The main objective of the currency is to maintain local money and ensure that there is greater growth within the economic region.
At present, there is no structure for communities to generate their own currencies. Communities can't cooperate with each other within the current global framework, the systems can not effectively meet their specific needs of all.
Native is a platform committed to supporting a transition in economy towards a framework where communities are the focal point. They can be united around shared values and goals, while expressing those values through collective decision-making and their own local currency. Native trains communities to realize their inherent value in a global economy.
Native Platform has successfully launched its Alpha platform on Mainnet, which offers users the ability to acquire Native platform tokens (NTV) in real time and join any of the platform's pilot communities.
Access to this means of storage of value is designed by the creators of the system.
It is an opt-in model, so there is no requirement for anyone who does not want to participate.
Tokens are transferable, reliable and work independently of centralized currencies.
Native and Cyptodex was founded by Jake Vartanian.
Provide a fundamental structure to value and operate communities through their own local currencies and a set of decision-making tools; In addition Native provides templates that are tailored to the different types of community needs to ensure that even those with limited economic and technical knowledge can participate in emerging financial ecosystems.
The communities are the building blocks of the Native.
Jake's main vision with Native is to learn how people can be allowed to work on the things that legitimately matter to them. By doing so, your attention will be maximized and, in turn, your energy and performance will also increase. If this is the value of the participants in this new paradigm of online communities it will also be maximized.
A community is a group of people with diverse characteristics that are linked by social bonds, share common perspectives and participate in joint actions. Next you will find the first 6 communities that started.
|EARTH GUARDIANS||Nonprofit organization based in Boulder, Colorado, which engages youth in programs to empower and amplify their voice|
|IMAGINAL FILMS||Community of film enthusiasts and funders gathered in a digital ecosystem to collectively develop, produce and distribute conscious films.|
|SDG FUTURES||Group of decentralized and distributed technologies and communities for the Sustainable Development Goals (SDGs) of the United Nations.|
|PEACE ACCELERATORS||A nonprofit organization based in New York accelerates the spread of world peace using a community-oriented perspective.|
|DOLO||It is a decentralized open learning organization that works to explore a future of intelligent education that is more open, agile and rewarding for all those interested.|
How to start a Community?
- Raise capital through the issuance of tokens, replacing traditional fundraising models such as bank loans, VC and crowdfunding.
- Ability to make collective decisions through our platform survey function.
- Recognition and ability to exchange value within a global framework.
- Single community token: each community that starts in Native has its own unique token to indicate membership, create a group of community resources and use it as a means of exchange within the community.
- Surveys: members have the ability to vote in surveys to contribute their comments to the community.
- Projects: members can decide on the projects that the community is pursuing, giving them a voice on how the set of resources is used.
Characteristics of Community Currencies.
The usefulness of these tokens hold their Reservations in Native Token (NTV).
Initially, the divisions of the community currency are standardized to:
Community Fund - 80%
Smart Token Converter - 10%
Conector Balance - 10%
The goal is to provide the maximum benefit, while ensuring that Native is not a single point of failure.
The token can be used to vote on various projects that are carried out. The token can also be used to determine membership rights.
Decide on criteria requirements for future projects.
Valuations and implications.
Implications of the structure of the ecosystem
The Native ecosystem is designed to create aligned interests among all communities, they take advantage of the same base currency, guarantee that whenever Native continues to grow, each community will grow. The opposite is not true since the total value that a Community extract is the total amount of Native Tokens deposited in that Community.
Users access their communities using Web3 portfolios that serve as a transaction mechanism within the Native.
Each community in Native has its own currency with multiple inherent functions. Communities can add additional functionality independently. Exchange medium Exchange is a primary function of all currencies. Community currencies in Native transactions allow economies beyond the 10th of the community to not touch. This helps encapsulate the value of the Community and encourage local spending.
Joining a community requires converting Native tokens into the currency of the community. The amount of community currency required is determined by the Curator on the creation of the Community. Once the membership is acquired, the Member receives participation rights.
Alignment of interests
The Native token as a reserve currency already creates an alignment of interests for all communities about Native. To add to this existing alignment, you can assign a portion of your currency to other projects or communities. This can be executed as a token exchange between two groups or simply as a purchase. Of an external part paid in the currency of the Community.
Each community has a fund that grows over time through:
Community funds are used to catalyze growth and achieve goals. Funds can be allocated to projects, tasks and general operations. When a project or task is approved, NTV is assigned directly to the designated wallet.
KINDS OF USERS
Curators are trusted administrators of the communities. They have the most complete knowledge of the initial vision of a community, and act as a filter to ensure that only relevant and potentially beneficial content is added for members to see and vote. In addition, the Curators approve or reject the work completed by the members of the Community.
Members join communities that align with their values, interests and goals. Membership allows rights. The members are the ones who make the final decisions for capital. Implementation and critical decisions. They also have the power to replace the curator if necessary. Members can join and participate in multiple communities.
ARCHITECTURE OF THE NATIVE ECOSYSTEM
Special functions of Native Token
Bancor implemented a method to quote the tokens, with the price calculated on fluctant tokens, value of the base currency. Any token created in the Banking Protocol has instant liquidity, exchange in a single part and standardized convertibility.
The future of Native tokens and the game.
Native is a place that is created to give participation or the economy of the communities, allowing them through their community currencies and with the facilitation of effective tools for making collective decisions.
Blockchain and Crypto are the great allies of Native with the use of Blockchain technology, allowing more quality of life for all possible, guaranteeing communities that can understand and benefit from the technology and realize the value that it has. Native can provide financing to communities.
More Information and Resources
This is the link to the contest of @originalworks