Welcome to WEOS and WeCash
09/14/2018, Symbol: WECASH
Translations: Chinese, Korean (courtesy EOS Café Korea), Japanese (Couresy of EOS Japan), French (courtesy EOS Nation), Swedish (courtesy EOS Sw/eden), Italian (courtesy EOS Italia), Swahili (courtesy EOS Nairobi)
Most of you are probably reading this because you are believers in blockchain, decentralization, and EOS—and, you were airdropped WeCash tokens. If not, by reading this, you may understand why WEOS and WeCash are important projects. You may be intrigued by decentralization, blockchain technology, and cryptocurrencies, and do further research. You might rush to buy some cryptocurrency as a result. After all, it can be exciting to finally realize there are viable alternatives to the status quo.
For any reason, the WEOS team is glad you are here.
WEOS was envisioned before anyone knew about blockchain. It is a platform premised on the idea that relationships are the basis of communication. Each relationship demands different levels of privacy and subject matter. WEOS takes all the best features of social-networking, private messaging, message boards, and email and focuses it all by relationship. For each relationship, we communicate differently. And for each relationship, WEOS offers a comprehensive suite of features to sufficiently communicate, search posts, and review posts with any contact or group, regardless of relationship.
Each contact has its own space, like a wall. If you were to review your communication with any contact through email or messaging, it would be difficult. Private messaging and email are private, but they have their limitations. WEOS removes those limitations and adds post-and-comment format for all posts, just like you would see on a public Facebook post or a comment section of a website, for better organization of group or 1-on-1 communication.
WEOS is to be built on the premise of self-ownership of data so that no person outside your contacts can know what you post. Even the WEOS Team cannot see them. All the data is encrypted. Only you and your intended recipients have access to your posts.
The technology of EOSIO allows free and instant transactions. This enables direct allocation of a portion of the advertising revenues to users through the platform. Yes, users can now get paid for the ads they view. This is what blockchain is all about: decreasing costs by cutting out middlemen.
We plan to release the beta version of WEOS in early 2019!
WEOS is based on relationships, but that philosophy is born out of a greater philosophy that products should reflect reality and be useful. For example, we observe that not every contact is a friend like is the case with Facebook. And, because we observe that reality, WEOS can offer more precisely-directed communication and provide broader use-cases than Facebook.
The philosophy of reality and usefulness will be adhered to in all future features of WEOS and passed on as a vision to the general WeCash community who will govern the platform at some point. The more the platform adheres to the philosophy, the greater the chance for its success.
WeCash Token and Philosophy
The WeCash token was created out of a desire to decentralize money. Centralized control over money has led to many world problems, which are too many to list here. WeCash is money by the people and for the people. No central authority controls WeCash. No one can inflate its supply. The owners of the money, which are the token holders, or what we commonly refer to as "the Community", make the decisions.
WeCash is an EOSIO token, which means its transactions are executed by a cooperation of many actors, called nodes, through a system called DPOS or Delegated Proof of Stake. These nodes are distributed throughout the world with no central point of failure with many more nodes on standby. This system is provably secure and decentralized. The nodes cooperate to ensure that all viable transactions are approved, in the order, they are received, and free of fees. Yes, that means no transactions fees to send or receive WeCash.
The WeCash supply is fixed at four billion tokens. Money should be scarce and having a fixed supply ensures that scarcity. In order to keep the WEOS platform operating and improving, revenues must be collected. And, we believe money should be backed by demand. It should have a utility. Advertisers will need to purchase WECASH tokens in order to advertise to WEOS users. People will be able to stake their WECASH to receive further rewards in WECASH, further increasing demand. Future features of the WEOS platform will be designed to further increase the demand of the WECASH token.
The WeCash airdrop was the initial token distribution. It was not airdropped on a 1:1 basis or any other fixed ratio, but on an exponential ratio that is capped at a maximum of five million WeCash. Although we are as "free-market" as anyone and recognize and value the contributions of the rich (the honest ones, anyway), we feel that at this point that a few should not have too much control over the governance of the platform. As the price of WeCash rises, it will be more difficult to gain control, so we have spread out the distribution a little more "fairly" using an exponential ratio.
If you were one of the enlightened few who was in the EOS genesis snapshot and held 25 or more EOS, you were airdropped. For those who held less than 25—not to worry—you'll be able to claim your tokens at a later date, and you may be surprised how many WeCash you have.
The WEOS team looks forward to interacting with the WEOS and WeCash communities and spreading the philosophy and vision. A world where data and money are not centrally-controlled is within our grasp. Resources can be allocated according to our own needs and not the whims of central actors, outside our control.
Blockchain technology will allow new products and ideas to enter the market quicker and at lower costs than ever before. The people will decide what wins and what fails without central interference. And, how we all come to a consensus will be revolutionized.
We look forward to this new "reality".
The WEOS Team