I want to create a “national” basic income cryptocurrency/mint.
Duniter is a cryptomint well on their way to become a universal basic income cryptocoin supplier.
Their code is open source and available on github.
While I commend their amazing achievement, I however don’t agree with the currency setup entirely and recently the Duniter team has told me that they will support/allow only their own currency, so I’m thinking of perhaps rebuilding their app from scratch to launch my own.
The main reason why I don’t support their idea is that I don’t think governments will support international coins once they become a considerable size. I’m convinced they would consider cryptocurrencies as a national security issue once they start dominating national digital currencies.
XEM coins worth up to € 400+ million stolen is bad enough, but a coin that could become a percentage of the world’s economy in the hands of a single company could encounter thefts of up to several trillions.
To think that governments will not get involved with this is my view naive.
The second reason is that governments also like to implement monetary policy, so I predict that they will insist on at the very least to be able to control the money-supply growth on the launch of a cryptocurrency.
They’re not going to let Duniter dictate that the annual money-supply growth should be 10% per year.
But that got me thinking about maidsafe again. I assume that creating a maidsafe app with the functionality of Duniter would be a good idea.
So what I want is:
- Take Duniter’s Universal Dividend and Web of Trust.
- Combine it with the Safe Network.
- Combine it with an online electronic identification system like DigiD
- Launch a cryptocoin called the ‘European Basic Fiat’
- Recieve the equivalent of x.xx euro’s every day for the rest of my life.
The questions are
- Is it a good idea? Or am I missing something?
- Where to start?