МonetaryCoin is an advanced cryptocurrency series named after a Nobel Prize winning economic theory called "Monetarism." How does it work? If the economy grows, then more MonetaryCoins are available to forge (i.e. mine). If a country or currency union reports GDP, it qualifies for a MonetaryCoin. For example, coins corresponding to China (MCHI) and the Eurozone (MERO) are available now. How is it advanced? MonetaryCoin securely imports economic data (via an "oracle"), coin ownership determines forging power ("proof of stake") and one can choose to share personal information (or not) when sending coins ("AML-KYC"). A new foundation will be managing the development of the MonetaryCoin and oversees the oracle.
How is it advanced? MonetaryCoin securely imports economic data (via an "oracle"), coin ownership determines forging power ("proof of stake") and one can choose to share personal information (or not) when sending coins ("AML-KYC"). A new foundation manages the development of the MonetaryCoin and oversees the oracle.
MonetaryCoin is compliant with ERC-20 (EIP-20) and has three key features and a supporting foundation. First, coins are forged via a Proof-of-Stake approach. Second, stakeholders may elect to add (and later delete) personal information to satisfy anti-money laundering, know-your-customer regulations. Third, once fully distributed, the rate of change in the supply of a MonetaryCoin parallels the rate of change in the GDP of a subject country (monetarism). Monetarism's limitations are well understood, and today most central bankers instead apply a variety of tools in pursuit of an inflation target, rather than the simplified money target only. The coin serves as a simplified alternative to domestic fiat so that residents may select away from the short-run decisions of their central bank while still retaining money tethered to the long-run progress of the economy. Because the starting number of coins is capped at not more than 1% of the current M2 per country, MonetaryCoin is designed as a value-added companion to an existing money supply.
October 30th, 2018
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