Bid Ocean and NAPC to Launch $2 Tril­lion in Dig­i­tal Cur­ren­cies

Trillions - - Content -

No, the head­line above is not a mis­print. We re­ally are cre­at­ing dig­i­tal cur­ren­cies with a value of 2 tril­lion dol­lars. Read on to find out how, why and what it means for you.

Tech­nol­ogy is rapidly chang­ing our world. Com­bined with a grow­ing hu­man pop­u­la­tion, tech­nol­ogy has given us the means to change our world – but also to de­stroy it.

With our un­sus­tain­able and in­ef­fi­cient con­ver­sion of Earth’s re­sources into the food, en­ergy, hous­ing, trans­porta­tion and gad­gets that hu­man­ity needs, we have fa­cil­i­tated the most rapid ex­tinc­tion of life in our planet’s his­tory. More than half of our planet’s wildlife and forests are al­ready gone, and ev­ery ma­jor ecosys­tem is in a state of rapid de­cline. And per­haps worst of all, we have trig­gered run­away cli­mate change that im­per­ils all life on Earth.

This win­ter the Arc­tic ex­pe­ri­enced a cat­a­strophic and un­prece­dented warm­ing with more than 61 days above freez­ing so far and temperatures reach­ing more than 60°F above nor­mal. This could mean an ice free sum­mer for most of the Arc­tic for the first time in mil­lions of years, and a huge in­crease in the al­ready mas­sive out­pour­ing of CO2 and meth­ane which will drive global warm­ing and cli­mate change ever more rapidly. If we con­tinue on the same path, our own mass de­pop­u­la­tion is in­evitable and our ex­tinc­tion be­comes a dis­tinct pos­si­bil­ity.

But now there is hope. A new tech­nol­ogy has made it pos­si­ble for us as in­di­vid­u­als to work to­gether to tran­si­tion from a path that leads to a bleak fu­ture to one that of­fers sur­vival and sus­tain­abil­ity.

This new tech­nol­ogy is called blockchain, and it is lead­ing a rev­o­lu­tion in dig­i­tal record keep­ing be­cause it pro­vides a mech­a­nism for any­one with an In­ter­net con­nec­tion to trans­fer any as­set with un­matched se­cu­rity, ef­fi­ciency and in­tegrity.

One ap­pli­ca­tion of blockchain tech­nol­ogy is dig­i­tal cur­rency us­ing cryp­tog­ra­phy, com­monly called cryp­tocur­rency. The first cryp­tocur­rency was Bit­coin, and it has been chang­ing how peo­ple think about money and show­ing us that money doesn’t have to only come from gov­ern­ments and that non­govern­men­tal dig­i­tal cur­ren­cies can be a valid and widely ac­cepted medium of ex­change. While Bit­coin and sim­i­lar cryptocurrencies have clearly shown that peo­ple can in­deed cre­ate their own in­de­pen­dent dig­i­tal cur­rency and that that cur­rency can be ex­changed for a wide range of goods and ser­vices and other cur­ren­cies, most of them are not suit­able for wider use by gov­ern­ment agen­cies and most busi­nesses.

In the com­ing months, Bid Ocean, North Amer­ica Pro­cure­ment Coun­cil (NAPC) and other part­ners will be launch­ing in­ter­na­tional dig­i­tal cur­ren­cies de­signed to bet­ter meet the needs of gov­ern­ment agen­cies and busi­nesses.

The cur­ren­cies will be used as re­gional cur­ren­cies, with the re­gions de­fined as North Amer­ica & the Caribbean, South Amer­ica, Asia & the Pa­cific, Europe and Africa.

At least ninety per­cent of the cur­ren­cies will be given as grants to gov­ern­ment agen­cies, qual­i­fied non­profit or­ga­ni­za­tions and tech­nol­ogy R&D to help fund spe­cific de­vel­op­ment projects that sup­port cli­mat­e­change adap­ta­tion and a new cli­mate-proof and sus­tain­able civ­i­liza­tion. The rest of the cur­ren­cies will be made avail­able to early in­vestors and distributed to Bid Ocean/napc/tril­lions mem­bers to seed the busi­ness-to-busi­ness eco­nomic net­work re­quired to sup­port the de­vel­op­ment projects.

The cur­ren­cies are be­ing de­vel­oped in part­ner­ship with the In­ter­na­tional Dig­i­tal Mone­tary Coun­cil, a new non-profit think tank that will have a core coun­cil of 12 lead­ing thinkers who will craft the pol­icy and reg­u­la­tory frame­work and stan­dards es­sen­tial for the suc­cess of re­gional dig­i­tal cur­ren­cies. The coun­cil will be sup­ported by another 24 ad­vis­ers with a wide range of ex­per­tise. Once the coun­cil has de­vel­oped the stan­dards, they will be made pub­lic and sub­mit­ted to the United Na­tions as a model for con­sid­er­a­tion for other re­gional dig­i­tal cur­ren­cies. The stan­dards will con­tinue to evolve as ex­pe­ri­ence is gained with the re­gional dig­i­tal cur­ren­cies and is­sues arise and are re­solved. The new dig­i­tal cur­ren­cies will be dif­fer­ent from ex­ist­ing cryptocurrencies in sev­eral im­por­tant as­pects and will be suit­able for use by gov­ern­ment agen­cies and busi­nesses. They will be se­cure, ac­count­able, tax­able, sta­ble and sus­tain­able. In­stead of it tak­ing hours to com­plete a trans­ac­tion, as it does now with Bit­coin, trans­ac­tions will be eas­ily com­pleted in sec­onds through se­cure apps with trans­ac­tion records ex­portable to ac­count­ing soft­ware sup­port­ing dig­i­tal cur­ren­cies.

The dig­i­tal coins will also be more se­cure than credit or debit cards be­cause ev­ery user, user de­vice, coin and trans­ac­tion will be au­then­ti­cated and se­cured. Large trans­ac­tions will have ad­di­tional se­cu­rity mea­sures. Be­cause trans­ac­tions will not be anony­mous, the cur­ren­cies will not be useful for money laun­der­ing or crim­i­nal ac­tiv­ity.

The cur­ren­cies are in­tended to be used as a medium of ex­change in cen­trally man­aged busi­ness net­works and are not in­tended to be used pri­mar­ily as an in­vest­ment com­mod­ity (as most cryptocurrencies are be­ing used now). There­fore, the value of the re­gional cur­ren­cies can be more eas­ily man­aged.

Some ex­am­ples of how dig­i­tal cur­ren­cies could work

The con­cen­tra­tion of wealth into fewer and fewer hands has re­sulted in a lack of avail­able fund­ing for many projects es­sen­tial to the fu­ture sur­vival of hu­man­ity. Re­gional dig­i­tal cur­ren­cies can help re­store that needed fund­ing and in­crease our chances of sur­vival.

Green En­ergy

We give $50 mil­lion in cur­rency to a town to build a com­mu­nity-owned wind and solar en­ergy sys­tem. They get match­ing funds in hard cur­rency from other sources and ad­ver­tise the pro­ject for bid with pay­ment 50% in dig­i­tal cur­rency. The suc­cess­ful con­trac­tor buys ma­te­ri­als and sup­plies from ven­dors will­ing to ac­cept par­tial pay­ment in dig­i­tal cur­rency who then use it in whole or in part to pur­chase the goods and ser­vices they need.

If there aren’t enough ven­dors or sub­con­trac­tors will­ing to ac­cept dig­i­tal cur­rency for the pro­ject, we would find ad­di­tional sup­pli­ers will­ing to ac­cept it. For ex­am­ple, the con­trac­tor build­ing the solar and wind en­ergy sys­tem can’t find a lo­cal fuel sup­plier to ac­cept dig­i­tal cur­rency but a lo­cal fuel sup­plier needs a new truck and so we find a truck dealer will­ing to ac­cept the dig­i­tal coins. The con­trac­tor gets his fuel, the fuel sup­plier gets his truck and the truck seller gets dig­i­tal money that he can spend on the goods or ser­vices he needs.

Be­cause there is a suf­fi­cient mar­gin for the con­trac­tor and their sup­pli­ers, they can top off their em­ploy­ees’ wages with dig­i­tal cur­rency so they can pros­per as well.

The res­i­dents of the town en­joy a re­li­able low-cost en­ergy sys­tem and can in­vest the money pre­vi­ously given to a coal-fired power util­ity on other lo­cal in­fra­struc­ture projects, such as schools, health care, elec­tric buses and com­mu­nity food sys­tems.

Refugees

There are now mil­lions of cli­mate, po­lit­i­cal, eco­nomic and war refugees. Soon there will be tens of mil­lions – then hun­dreds of mil­lions. There is no good place for most of them to go, but there could be, and the new places could be bet­ter than any­thing pre­vi­ously avail­able. In­stead of be­ing housed at tax­payer ex­pense in squalid camps, refugees could be­come im­por­tant re­sources and agents for change through the power of re­gional dig­i­tal cur­ren­cies.

We fund the con­struc­tion of car­bon-neg­a­tive, cli­mate-proof, self-suf­fi­cient vil­lages that col­lec­tively pro­duce their own power, food, cloth­ing and other items. The vil­lages are con­nected by un­der­ground high-speed elec­tric trans­ports. Each vil­lage is pop­u­lated by those who are com­pat­i­ble, have com­mon in­ter­ests and have been pro­vided with the train­ing, coach­ing and coun­sel­ing they need to thrive in the new en­vi­ron­ments. Vil­lages will each have their own spe­cialty, such as sci­ence, sus­tain­able food pro­duc­tion, en­ergy pro­duc­tion and ef­fi­ciency, art, psy­chol­ogy, bi­ol­ogy, well­ness, gov­er­nance, etc., and will take that field to new lev­els to sup­port the heal­ing of the Earth and the de­vel­op­ment of a new more in­tel­li­gent, func­tional and hu­mane civ­i­liza­tion.

As the ex­pe­ri­ence with sus­tain­able vil­lages in­creases and the model evolves, more can be built to give oth­ers an op­por­tu­nity to live in com­mu­ni­ties that em­power in­di­vid­u­als to reach their full po­ten­tial in a healthy, safe and se­cure en­vi­ron­ment.

Re­cy­cling

A large por­tion of re­cy­clable plas­tics and elec­tron­ics in North Amer­ica are shipped to China on car­bon-spew­ing ships, which uses more en­ergy and sup­ports China’s man­u­fac­tur­ing in­dus­tries in­stead of North Amer­i­can man­u­fac­tur­ing. China has re­cently told Canada that it will no longer ac­cept some of Canada’s re­cy­clables, so now there are plans to bury it all in land­fills.

So, we use dig­i­tal cur­rency to build ad­vanced fa­cil­i­ties pow­ered by re­new­able en­ergy to convert the plas­tic des­tined for China or land­fills into build­ing ma­te­ri­als and other needed items to sup­port man­u­fac­tur­ing in North Amer­ica, re­duce car­bon emis­sions and re­duce the need for new plas­tic.

The prod­ucts pro­duced would be sold for dig­i­tal cur­rency.

Dig­i­tal Cur­rency Net­work Ex­pan­sion

As ac­cep­tance in­creases, the net­work grows, pro­gres­sive busi­nesses flour­ish and what we can ac­com­plish with the cur­ren­cies keeps ex­pand­ing.

The grant ap­proval process will be led by ex­perts in tech­nol­ogy, sus­tain­able de­vel­op­ment, en­gi­neer­ing, ecol­ogy, so­ci­ol­ogy and other fields es­sen­tial to en­sure that the funded projects con­trib­ute to the fun­da­men­tal and rapid change re­quired with a bal­ance be­tween up­grad­ing ex­ist­ing sys­tems and cre­at­ing en­tirely new sus­tain­able sys­tems.

Once the ini­tial $2 tril­lion has been in­jected into the sys­tem, more coins can be gen­er­ated as needed with­out de­valu­ing those al­ready in cir­cu­la­tion.

The cur­ren­cies will be ad­min­is­tered by an ef­fec­tive team of ex­perts within a man­aged net­work, so the cur­ren­cies will not ex­pe­ri­ence the same volatil­ity that cryptocurrencies traded through the var­i­ous ex­changes have.

How re­gional dig­i­tal cur­ren­cies can pro­tect us from a col­lapse of the U.S. dol­lar

The U.S. dol­lar has had a long run as the world’s pri­mary in­ter­na­tional and re­serve cur­rency, but that run is com­ing to an end. With the rise of China’s gold­backed yuan and oil mar­ket and an in­creas­ing num­ber of coun­tries drop­ping the dol­lar for trade with Rus­sia and China, there may soon be more sur­plus dol­lars than the mar­kets are able to ab­sorb. If you fac­tor in the un­sus­tain­able sky­rock­et­ing U.S. fed­eral debt and ris­ing in­ter­est rates, the fu­ture of the dol­lar is at risk and it is ob­vi­ous why it has been weak­en­ing re­cently.

If the dol­lar de­clines in value too much, bor­row­ing costs for the U.S. fed­eral gov­ern­ment will rise be­yond reach. If the United States can no longer bor­row enough from in­vestors to pay the in­ter­est on its debt, the value of the dol­lar will plum­met, even if it sim­ply runs the print­ing presses and calls it quan­ti­ta­tive eas­ing or some­thing else.

The U.S. fed­eral re­serve is al­ready re­mov­ing tril­lions of dol­lars from cir­cu­la­tion by re­tir­ing the money it re­ceives from bond pay­ments, but there are tens of tril­lions of dol­lars more held in off­shore ac­counts that are now or will soon be look­ing for a non-dol­lar safe haven and hun­dreds of tril­lions more in debt in­stru­ments.

As the dol­lar de­clines in value and credit dries up, the nearly $1 quadrillion re­ported and un­re­ported de­riv­a­tives mar­ket will be trig­gered, too-big-to-fail will mean too-big-to-sur­vive and one gi­ant com­pany

af­ter another could go un­der from a cas­cad­ing domino of un­payable debt obli­ga­tions. And like in the great re­ces­sion trig­gered by the sub-prime mort­gage crises of 2007-2009, vast amounts of dol­lar wealth will van­ish. How­ever, un­like the sub-prime mort­gage crash, mas­sive bailouts would not work this time and would just be adding fuel to the fire.

This risk to the U.S. dol­lar and the world econ­omy is well known within many cir­cles, but few dare to pub­licly dis­close their con­cerns out of fear of erod­ing pub­lic con­fi­dence in the dol­lar and in­creas­ing the risk. The herd hold­ing the vast dol­lar re­serves could eas­ily be spooked and start dump­ing too many dol­lars at once, caus­ing the very thing they are afraid of and seek­ing to avoid. So, ev­ery­one stays quiet and hopes for the best while qui­etly and slowly re­duc­ing their dol­lar hold­ings.

Re­gional dig­i­tal cur­ren­cies can pro­vide an al­ter­na­tive to the dol­lar-debt econ­omy that en­riches the few at the ex­pense of the many and pro­vide debt-free liq­uid­ity. They can fa­cil­i­tate re­gional trade and sup­port a real econ­omy of trade that any busi­ness can par­tic­i­pate in.

Chal­lenges and what is re­quired for suc­cess

Launch­ing a new re­gional dig­i­tal cur­rency that does not orig­i­nate from a gov­ern­ment or other of­fi­cial en­tity will be be a chal­lenge but other in­de­pen­dent cryptocurrencies have shown that that such an un­der­tak­ing is not only fea­si­ble but could be highly suc­cess­ful.

Ac­cep­tance: Any cur­rency or other medium of ex­change is de­pen­dent upon ac­cep­tance. If the dig­i­tal coins can’t be ex­changed for needed goods and ser­vices, they will have lit­tle or no value. So, the cur­ren­cies we launch will have to have suf­fi­cient ac­cep­tance to be vi­able.

The Bid Ocean/napc/tril­lions net­work reaches mil­lions of users and in­cludes nearly 200,000 reg­is­tered mem­bers, and the num­ber of reg­is­tered mem­bers is grow­ing rapidly. Many mem­bers have al­ready agreed to ac­cept the dig­i­tal cur­ren­cies for at least a por­tion of their sales, and the num­ber will grow rapidly.

Coins will not be re­leased un­til there is a suf­fi­cient num­ber of par­tic­i­pants will­ing to ac­cept at least par­tial pay­ment for their goods and ser­vices in the dig­i­tal cur­ren­cies.

Reg­u­la­tion: In­de­pen­dent dig­i­tal cur­ren­cies will be in­creas­ingly banned or reg­u­lated be­cause they can’t be taxed and fa­cil­i­tate crim­i­nal ac­tiv­ity. In part­ner­ship with the In­ter­na­tional Dig­i­tal Mone­tary Coun­cil (IDMC), we are de­vel­op­ing a sound reg­u­la­tory frame­work that will en­sure the suc­cess, sta­bil­ity and sus­tain­abil­ity of the cur­ren­cies while ef­fec­tively man­ag­ing po­ten­tial risks.

Be­cause at least 90% of the dig­i­tal coins will first flow through gov­ern­ment agen­cies, we an­tic­i­pate sup­port and co­op­er­a­tion from those agen­cies, which could then in­flu­ence na­tional reg­u­la­tory agen­cies to rec­og­nize and sup­port well-man­aged re­gional dig­i­tal cur­ren­cies.

Tech­nol­ogy: Cod­ing of the sys­tem has started, and the first dig­i­tal coins will be cre­ated soon. With nearly 20 years of ex­pe­ri­ence, we are adept at cre­at­ing and man­ag­ing so­phis­ti­cated soft­ware sys­tems. The pro­ject is be­ing led by a lead­ing com­puter sci­en­tist with an ex­ten­sive record of de­vel­op­ing com­plex and se­cure busi­ness net­works.

Trans­parency and ac­count­abil­ity

This is cer­tainly not a gim­mick or get-rich-quick scheme, and ev­ery dig­i­tal coin we cre­ate will be ac­counted for. All grants will be pub­licly dis­closed, with full trans­parency on ev­ery funded pro­ject.

The NAPC al­ready op­er­ates peo­ple-owned pub­lic pro­cure­ment por­tals and en­deav­ors to make all gov­ern­ment pro­cure­ment open-ac­cess and trans­par­ent.

Re­al­ity check

This pro­ject is au­da­cious, out­ra­geous and gar­gan­tuan, but there is no real rea­son it can’t work.

Money as we know it is al­ready mostly dig­i­tal and has value only be­cause peo­ple be­lieve that it has value, even though it is no longer backed by gold or another com­mod­ity. Con­ven­tional cur­rency is cre­ated pri­mar­ily from debt, and that debt is one of the causes of poverty and our in­abil­ity to progress as a species. We are all too busy just try­ing to pay our bills and are trapped in life­styles and a cul­ture that is un­sus­tain­able.

If enough peo­ple sup­port a new re­gional peo­ple’s cur­rency that does not come with debt and can be used to con­struct the in­fra­struc­ture of a sus­tain­able civ­i­liza­tion, then it cer­tainly could make a dif­fer­ence. It could make a huge dif­fer­ence. It re­ally could change our world for the bet­ter.

Re­gional dig­i­tal cur­ren­cies cer­tainly can’t solve all of the prob­lems of hu­man­ity and won’t change the fun­da­men­tal hu­man na­ture that got us into our present

cir­cum­stances, but it gives us the hope of shift­ing the bal­ance of power more to the peo­ple who aren’t will­ing to sac­ri­fice the fu­ture for short-term prof­its.

For­tu­nately, there are many peo­ple who de­sire a bet­ter fu­ture and have the courage to choose a new and dif­fer­ent path. We hope that you will be one of them.

How you can par­tic­i­pate

Providers of goods and ser­vices in­ter­ested in par­tic­i­pat­ing in this bold new pro­ject and en­joy­ing its po­ten­tial ben­e­fits can now reg­is­ter for the op­por­tu­nity to re­ceive our dig­i­tal cur­rency as par­tial or com­plete pay­ment for sales and re­ceive a num­ber of free coins. Do­ing so does not ob­li­gate a reg­is­trant to ac­cept the dig­i­tal cur­rency for a par­tic­u­lar trans­ac­tion but does pro­vide an op­por­tu­nity to do so.

Gov­ern­ment agen­cies, non-profit or­ga­ni­za­tions and tech­nol­ogy R&D or­ga­ni­za­tions will be able to start sub­mit­ting grant ap­pli­ca­tions by mid-april 2018. We will not be fund­ing in­di­vid­u­als or ac­cept­ing ap­pli­ca­tions be­fore April and will only ac­cept ap­pli­ca­tions for spec­i­fied projects un­der strin­gent con­di­tions of trans­parency and pub­lic over­sight. Fraud and cor­rup­tion will not be tol­er­ated.

If you are not al­ready a mem­ber of the Bi­do­cean.com, NAPC.PRO or Tril­lions.biz net­works, then please reg­is­ter. Ba­sic reg­is­tra­tion is free.

Sup­pli­ers should log in, click on Ac­count Man­ager, then on Dig­i­tal Cur­ren­cies and select the level of pay­ment in dig­i­tal cur­rency that you are will­ing to con­sider for your goods or ser­vices.

If you are a thought leader or ex­pert in blockchain, mo­bile apps, soft­ware and hard­ware se­cu­rity, pro­ject man­age­ment, in­ter­na­tional re­la­tions, de­vel­op­ment projects, green en­ergy or other rel­e­vant fields and are in­ter­ested in par­tic­i­pat­ing in the In­ter­na­tional Dig­i­tal Mone­tary Coun­cil, please com­plete the con­tact form on Idmc.money to sub­mit your in­for­ma­tion.

More in­for­ma­tion will be avail­able soon.

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