Loomio
October 18th, 2016 12:30

LE Currency Innovations

Joe
Joe Public Seen by 346

Even though the LE world has greatly diminished $ focus, there still is money.

The LE uses a digital global currency that is highly controlled and tracked. Think Bitcoin, but way better.

It's a currency that has a "gold standard" type backing, but because creativity is the primary fuel (resource) holding up the whole economic system, the standard is "people minds." And this simply translates into a currency amount at any given moment in time based on global population.

What this means is the amount of total currency to operate with is directly quantified by whatever the population is within a period. I'll explain 'period' more soon but for now think of it as like a months time.

Perhaps the most radical change to money in the LE world is that every period all money gets zeroed and then immediately replenished based on who is living at that moment. All personal and all coop accounts are zeroed.

This as you can imagine has huge implications for this new economic system. But these will be slowly revealed in the story. The primary reason zeroing was added was for long-term sustainability and resource continuity over all the future generations. No longer can a present generation pass wealth savings on or even count on the future being rosier than the present. Now everyone in the present must work with a limited amount of cash each short-term period.

What this means is there's no longer the concepts of $ savings or loans or futures speculation. The primary concept that replaces all these is "earned credit." What you need do now is purchase or work for credit (past/present vs. future) and accumulate credit toward then purchasing products or services you will get at a time in the future.

This way if something bad happens in the world then there's no way for the economic system to grow out of control reacting to the bad event(s.) And in this way the present society cannot so easily tap into the future generations fair-share resources.

All currency and all credit is also 100% trackable and transparent. Meaning there's no privacy or secrecy connected to money in the LE world. Anyone can audit anyone (citizen or coop) else at any time.

So at cycle moment zero all currency accounts get zeroed and then citizen accounts (not coop accounts) get replenished - each citizen gets exactly the same amount - translates to financial equality. (Note: credit accounts all carry over.)

Lease (no ownership of anything) items/objects for that period get auto debited at this moment too. Each citizen based on their unique situation then have some variable amount of $ remaining with which to gift or spend or buy credit during that time period. So there is still commerce outside all the lease deals that establishes a competitive market for that remaining currency. (Note: that a large % of currency gets taken out of circulation via lease payments. More about this later.)

Credit purchases obviously remove currency too. But all gifting simply passes currency from one citizen to another or to a coop to help fund their work.

As the time period moves forward and to its endpoint the amount of available working currency works its way toward zero. But everyone knows it all resets and starts over soon. (Not sure what the magic period duration time will actually be, but in my mind it is something between a month and a year.)

This innovative solution puts a governor on each generation that helps to regulate resource consumption and helps to maintain resource continuity. Again, the long-term mission of LE is long-term sustainability of a balance between humanity and our highly limited control volume, planet Earth.

Radical, right? There's much much more detail to get into, but does any of this make sense to you guys?

LE simplifies/improves the world, but with anything that simplifies comes a ton of complexity happening behind the scenes. To understand it all at once is next to impossible. Much of this I'm sure still needs to emerge. But the key is there's now a tangible starting place alternative model with which to begin comparing to what exists today.

My personal opinion is LE can provide huge improvements in many many facets of life - both physical and non-physical. My biggest hurdle is drawing you into the co-creation development and comparison discussion. Is my story intriguing and compelling enough as presented in my awkward attempts at telling the LE story?