⨊Före(s) = Store Of Value; Federated Mutual Savings Bonds.⨋Lagom(s)= programmable and Customisable Means of Exchange´´Mutual Blockchain Federated credit Union´´
´´Federated Programmable Complementary Means of Exchange Currency´´
´´Federated Mutual general retirement and insurance fund’’,
Gå före tillsammans ⨊GåFöre(O⨋)The FederatedMutualSociety.⨊Före(s)And⨋Lagom(s) Putting the Complementary into Crypto Currencies!.
This is a Screen Capture from 2016 of an online brainstorm with the development team for ⨊Före(s)And⨋Lagom(s)
123
Transcript (Correction in progress) Will be abstracted for Whitepaper.
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00:08
welcome to this brainstorm and mind map
00:13
for the market synergies symbiotic
00:17
leverage and the Commons ecology of the
00:23
new complementary currency that we’re
00:26
trying to design for the Swedish market
00:33
so we need to conduct some market
00:36
research down here
00:39
I think hampstead Borstad and Anglehome
00:44
for local towns and communes(Counties) larger
00:49
regional centers in this area are lund
00:52
malmö , Helsingborgh and Halmstad
00:55
and then the nearest Capital to here is
01:00
Copenhagen obviously another capital up
01:04
in Stockholm and there are regional
01:06
towns around or dormitory towns to
01:08
Stockholm Oslo and Helsinki we can talk
01:12
about the possibility of recruiting
01:16
people we know in Finland and Norway to
01:20
see if an overarching federation or
01:27
regional cooperative or club or whatever
01:33
we decided to go with can be done .
01:41
I’ve been thinking about different kinds
01:44
of buzz words for what we’ve got we a
01:47
capital coin score and a coin commune
01:50
Corinne I came up with four C’s which is
01:54
a crypto crypto complementary currency
02:00
club the four C’s we see that later as
02:05
we go through the through the slides so
02:11
effectively what I’ve been thinking
02:13
about is with the crypto currency I’m
02:16
interested in linkle der Mirage which
02:18
means the there’s lower penalties or no
02:23
penalties for spending credit sooner the
02:28
longer you hold on to it the less it is
02:30
worth now with coupled with the discount
02:37
scheme the discount in the demurrage can
02:41
be quite a powerful no cost to the user
02:46
of the currency just the benefit that
02:49
declines and it would still be one for
02:51
one we’ll come to that later use of
02:56
discount seams and a currency with
02:59
demurrage could be useful for off-peak
03:02
opening special openings for members
03:06
using the currency a payment of overtime
03:09
to star for that special opening issue
03:13
of discount coupons and competitions and
03:17
whatnot for staff within the
03:21
organizations that are using the coin so
03:25
I did a couple of conceptual diagrams
03:29
for that which we’ll come on to so the
03:33
businesses you have staff owners
03:34
shareholders customers suppliers
03:36
business memberships individual ambush
03:39
the memberships consumer users and
03:42
customer trade membership so
03:51
[Music]
03:53
in terms of the idea of demurrage what
03:59
we have here is if you spend the tokens
04:03
going this way you can see what we have
04:10
there is
04:12
demurrage so the the quicker you spend
04:18
them the higher the discount so they get
04:27
spent in the merchants to the customers
04:29
and then they can settle up with trade
04:32
creditors over here now trade creditors
04:37
and their collateral if that’s monetized
04:39
to back the spending tokens up here then
04:48
they will want some sort of compensation
04:50
for that well this the one conversation
04:52
is in the increase trade but also they
04:57
may want to use it as a store of value
05:01
and this is where the interest comes
05:06
into it so here we have interest charges
05:10
coming out here as well as payments
05:16
coming across and then that’s sort of
05:19
going up here so there’s a sort of a
05:25
loop coming back there and then down
05:30
here somewhere you probably have
05:33
customers just put
05:37
a car right very nicely with this pen
05:45
customers
05:52
initially the spaghetti took a bit like
05:56
Greek isn’t it right okay customers so
06:13
that’s what that’s about and then
06:17
looking out more widely now this
06:23
illustration I sent this yesterday at
06:24
the end of a document and then did a
06:26
brainstorm and just to explain this I’m
06:31
imagining three geographies which is the
06:38
commune’s and smaller centers have
06:40
mentioned earlier the regional centers
06:42
and the capitals so they’re all
06:47
encompassed kind of with a international
06:49
sort of Federation and then there are
06:54
sub markets for the towns learned hounds
06:57
their boss dad in Rome just as an
07:00
example the capitals Stockholm
07:03
Copenhagen Oslo Helsinki we could even
07:08
think about st. Petersburg in Russia as
07:10
well or and and indeed Hamburg one of
07:14
the ideas I was thinking of was the old
07:16
Hanseatic League and the historical
07:20
trade links between Oslo Stockholm st.
07:24
Petersburg Hamburg Lubeck I mean even
07:28
one of the Polish coastal towns there’s
07:33
a historical trading currency that was
07:39
used there I’ve actually got a research
07:41
paper on it now but but you get the idea
07:45
that you’ve got this overarching
07:47
Federation and and that they’re using a
07:50
token which they can use to keep the
07:53
liquidity between themselves and iron
07:56
out cash flow with business that they’re
08:00
doing with people outside of the
08:03
the membership of the club so to speak
08:07
other people in geographies that we’re
08:12
going to be interested in are you an
08:18
investment organizations being
08:20
government local government central
08:23
government perhaps political parties
08:27
other sort of organizations say positive
08:31
paying an hour or you know other other
08:35
maybe academics universities in fact you
08:39
know within a student body somewhere
08:40
like London loads of students or up in
08:45
Stockholm in Uppsala there’s a real
08:50
possible synergy with student unions and
08:53
things like that to to get such a
08:57
currency going especially with the
08:59
discount demurrage kind of thing because
09:02
it will you know increase the buying
09:04
power of of their student economy you
09:09
know considered quite considerably for
09:11
people that want to go into the club and
09:12
and and attract you know younger people
09:19
and build a client base as it were so
09:21
that’s the geographies and those
09:23
considerations there then there’s the
09:27
symbiotic populations within each of the
09:30
geographies so at different scales so
09:35
you’ve got businesses who retail or
09:41
dealing with the general public public
09:44
your customers over here then you have
09:46
trade suppliers so that’s
09:48
business-to-business stuff so trade
09:51
suppliers don’t deal direct with the
09:52
general public but members be kept you
09:58
know obviously will trade amongst
10:00
themselves now then there are sort of
10:03
trade associations so it’s possible that
10:10
we would promote to their different
10:11
members through trade associations and
10:15
by
10:17
doing marketing promotions and whatnot
10:21
you can issue you know a special token
10:26
which can be used in conjunction with
10:31
some of our four C’s currency and with
10:36
crona’s or whatever the fear is in the
10:38
local geography that’s something which
10:44
burn our lady a deals within in one of
10:47
the papers that I sent through earlier
10:50
so for instance for some offers or
10:58
promotions or in general a retailer may
11:05
for one week sort of say well you can
11:07
buy a whole you know we’re offering all
11:10
of our product lines for purchase 100%
11:14
in the four C’s currency ordinarily you
11:23
know maybe they’ll do that once a month
11:24
maybe they’ll do it once a year or one
11:26
week in every year other times that they
11:31
may want to sort of say well actually we
11:33
will you you can pay for a quarter of
11:37
your purchases in that kind of currency
11:41
that’s really depending on how much
11:44
trading outside of the local economy
11:46
they do and their need for that
11:48
additional fiat money the trick is that
11:53
we’re going to design in such a way that
11:57
the units are convertible back for one
11:59
for one to the local currents fear
12:05
currency much as the Bristol pound is
12:08
and so it’s the discounts and the speed
12:12
with which they get you know the
12:14
liquidity that that they offer and also
12:17
a bridging kind of liquidity for the
12:22
where where say a customer outside of
12:29
the club is paying
12:31
currency and they they take longer to
12:33
pay so there are various ways of
12:37
engineering added value into the
12:40
cryptocurrency within the symbiotic
12:45
populations so each of these symbiotic
12:48
populations exists within each of these
12:50
boxes up here now that’s the way to look
12:54
at it and then as a whole the population
13:01
has these sorts of relationships except
13:06
they’re going between boundaries which
13:12
are local boundaries regional boundaries
13:21
and then ultimately national boundaries
13:27
I’m so thinking of it that way it’s a
13:32
question of designing the four C’s
13:36
currency the complement of the crypto
13:38
complementary currency to have certain
13:42
advantages and benefits at the
13:47
microwaved of the scale up to the macro
13:50
end of the scale which i think is where
13:51
I come up to later so
14:01
at the back of my mind with all of this
14:05
I’ve been thinking a lot about loyalty
14:09
cards loyalty point schemes the
14:13
possibility of collateralizing credit
14:18
limit is limits or credit terms that
14:20
exist already between symbiotic local
14:27
businesses discount clubs privilege
14:30
cards all of those sorts of things now
14:35
there are marketing advantages and a
14:39
kind of a cryptographic discount that
14:42
can be built into particularly the
14:46
etherium blockchain and we need to be
14:49
thinking about where those possibilities
14:59
give an edge to a member of the scheme
15:04
to encourage customers to buy their
15:12
product now and kind of front-end the
15:15
purchase in the sense that they use this
15:17
very liquid local complementary currency
15:21
which really helps with the cash flows
15:24
of the local businesses so it helps both
15:28
with cash flow but also turnover and
15:30
generating more activity so part of
15:37
these points I mean I make them briefly
15:41
but part of the benefit of thinking
15:44
through these things is we can hone down
15:50
the list to a good of what our real
15:54
strong strongest points are to see where
15:57
our need is so I mean I’ve been thinking
16:03
about property purchase chains like when
16:06
when people buy a house in England for
16:08
instance usually one sale is contingent
16:13
another happening in another and
16:15
sometimes a whole deal can fall apart
16:17
because at one part of that chain
16:21
there’s a lack of funds and so you you
16:24
have the estate agents or the solicitors
16:30
if they’re any good
16:31
ringing everybody else up and down this
16:34
whole chain to see if they can get a
16:37
little bit off here a little bit off
16:39
there so that the whole so the
16:41
transaction still can go through another
16:45
way that that is sometimes done is by
16:47
bridging finance where people go and get
16:48
a short-term loan from a bank well
16:51
that’s really very very risky but the
16:54
the blockchain and the etherium
16:59
authentication thing and the possibility
17:02
of providing a centralized insurance
17:07
point whereby there’s a a service for
17:15
unblocking blockages in property
17:19
transaction chains which in residential
17:22
I’m sure they had them they must happen
17:24
in Sweden too it’s more efficient here
17:26
but but is the that that’s a potential
17:32
idea that if we were doing this as I say
17:39
a currency for estate agents in Britain
17:43
that would be a good idea and we need to
17:46
think of similar things that apply to
17:47
Sweden so I mean the other thing I had
17:54
was collective investment broking at the
17:56
end of last year I obviously was looking
18:00
at the Swedish property market and
18:02
looking at different ways of
18:04
neutralizing investment for that and of
18:08
course these are all things that can be
18:09
done but the big opportunity I think is
18:16
in Sweden with Sweden phasing out cash
18:20
because complementary currencies will be
18:23
more important than ever
18:26
when cash is phased out so obviously
18:30
we’ve looked at the word Bank in
18:32
Switzerland and the Bristol pound and
18:37
we’ve obviously got an idea now which we
18:42
need to communicate to potential members
18:45
the benefits of a complementary currency
18:48
within those local economic ecologies if
18:54
you like so I then broke it I broken it
19:05
down in my own wine to thinking about
19:07
tears of the of the coin and then also
19:13
with the weir one of the things about
19:15
the wear is that it’s not available to
19:18
international businesses or
19:19
multinational corporations and it’s
19:23
really a bank that’s aimed at small to
19:28
medium sized enterprises you know which
19:30
is great and it’s a question really of
19:34
the bigger businesses kind of actors and
19:37
that can act as an anchor to
19:39
collateralize the the complementary
19:44
currency or the cryptographic
19:45
complementary currency and if that
19:48
currency is to sort of gain traction and
19:52
value as as a money for liquidity that’s
19:57
that’s fairly easy but by having a
20:01
second tier which is based on a store of
20:05
value what I’ve my thought experiment is
20:11
to collateralize the strong credit side
20:19
from the larger longer standing richer
20:22
businesses now they benefit from the
20:24
liquidity because it helps their
20:26
customers to and speeds up their
20:30
inventory and cash flow and
20:32
what-have-you but there’s also another
20:38
potential benefit
20:39
to offer savings or loans to business
20:44
startups and the p2p b2b credit type of
20:51
thing at lower rates of interest but
20:56
nonetheless still at rates of interest
20:57
that are very competitive to those that
20:59
are available in regular regular banking
21:03
so it’s you know what we’re really
21:07
talking about is really solid annuity
21:18
type of incomes which are not high risk
21:24
so grandma friendly retirement friendly
21:32
solid investments stuff that actuary
21:36
would find acceptable so it’s a question
21:45
of leveraging that collective local
21:52
economic ecology and then as we’re
21:58
looking to sort of get an overarching
22:01
sort of Confederation of these things
22:04
and what that then does is it provides a
22:10
well a capital base from which external
22:15
benefits can be brought into the
22:18
membership from you know the the wider
22:23
world as it were but like group
22:28
discounts is this the idea behind that
22:32
by by increasing your bulk purchasing
22:35
power it gives access to economies of
22:37
scale and discounts at scale and that is
22:42
is much more possible to coordinate
22:48
through a blockchain type application
22:52
because people make the commitment and
22:56
back the commitment up and that’s
22:58
time-stamped and guaranteed and the X
23:01
crow possibilities are such that you are
23:06
negotiating with the money in the bank
23:09
as it were you become like a cash
23:11
purchaser and again that is a an
23:19
opportunity for some people to invest in
23:22
that bulk purchase and the discount and
23:25
then the spoils if you like divided up
23:28
between the people who’ve gone and sell
23:29
the stuff and the people who provide the
23:32
liquidity and that doesn’t have to be
23:36
one person and all of those benefits
23:40
generally speaking getting gobbled up by
23:42
very high bank fees bank charges
23:45
interest rates for short-term borrowing
23:49
effectively because they have a monopoly
23:52
on credit secured against your own
23:55
collateral and and so that’s that’s the
23:59
way to start thinking about developing a
24:02
core of services that the club will
24:07
offer to its wider membership at the
24:10
different levels of scale in the ecology
24:14
diagram so that’s really the
24:18
Confederation of clubs regions national
24:21
international networks demurrage
24:29
interest to savers etc that’s that
24:32
circular diagram that we just did so
24:36
I’ve covered those points there so
24:45
there are further thoughts research and
24:51
pros and cons needed considering with
24:54
regard to cooperative structures
24:57
federated structures whether it’s for
24:59
profit or not for profit and Mondragon
25:04
corporation is a federated corporation
25:07
cooperative they do do finance as well
25:10
and they know well they do look at
25:16
startups and I mean it’s not impossible
25:18
that they would look at look at this
25:20
once we’ve sort of ironed out the the
25:25
all hammered out rather our and our
25:28
strategy here so then this is my
25:33
two-tier idea of a tiered currencies so
25:38
all crypto currencies either because
25:42
they’re divided down into into different
25:46
units like bitcoins you have a whole
25:51
Bitcoin and it’s then down to satoshis
25:56
and they’re divided down into ever
25:59
smaller numbers ether is has gotten one
26:04
of the unit’s is a way or a wee-wee i
26:07
one of them is as a Szabo there are two
26:12
schools of thought on who Satoshi was
26:14
one school before was this Sabo guy and
26:19
the other school of thought was it was
26:21
this doctor right guy the Australian guy
26:24
I don’t know who it is really much
26:27
matter does it but but what I was
26:32
thinking rather than thinking of the
26:35
units as proportions of the reference
26:39
unit or divisions of the reference unit
26:43
though our tiered coin can denote
26:46
liquidity whereby you have the liquid
26:50
coins that you spend and you have the
26:52
deposit coins that you that you save and
26:56
the one kind of backs the other and the
26:58
liquid coin
26:59
have the demurrage and the deposit coins
27:02
have a rate of interest coming in or a
27:09
share of profits coming in which is
27:11
based on that you know the demote the
27:15
the demurrage margin that you know some
27:22
people holidaymakers for it for instance
27:25
might everybody ends up with change at
27:28
the end of holidays I don’t they so
27:30
what’s scale it’s something that needs
27:32
to be modeled in terms of how that would
27:37
how that how that works and how one
27:39
would complement the other as it were so
27:43
let’s just go back again here my idea
27:50
with the liquid coins is that if someone
27:55
has a hundred Kroners say they come on
27:58
holiday to angle home so they convert
28:02
their hundred Kroners into angle home
28:06
crypto complementary currency coins and
28:12
they get 115,000 Kroners of credit in
28:18
return for that hundred Kroners in cash
28:21
and that level of credit with the
28:26
demurrage okay it represents a discount
28:31
so holidaymaker comes for a week if they
28:34
spend what they take out in all the week
28:37
or everything is about 15% discount
28:40
where the way that’s accepted by the
28:43
members say the second week third week
28:48
and fourth week it goes down and then in
28:51
the second month it’s basically just
28:53
back to parity but so there’s an
28:57
incentive to hold one the angle home
29:02
coin but to to spend it more quickly and
29:05
that also apply it means that people
29:09
won’t you know this idea of hoarding
29:12
Polly
29:12
or holding coins or saving those coins
29:16
the quicker you spend the more you get
29:18
that’s the idea of demurrage so then the
29:25
second is the tier 2 deposit coins and
29:28
they those those aren’t something that
29:31
you would spend there was something that
29:33
you would save and the reason I’ve got
29:37
these term deposits here one two or five
29:40
years is from this point of view of it
29:44
may well be that for a regional anchor
29:47
say a supermarket like Iker they could
29:52
become a part of the scheme but because
29:54
there’s a risk with a bigger Bank maybe
29:58
say ladles or something like that as
29:59
well because they have their
30:01
headquarters are in it’s probably not in
30:03
Germany as it’s in Liechtenstein or
30:05
something so they do take their profits
30:07
out what what they would have to deposit
30:13
the fair currency and agree that that
30:16
stays in their deposit and that will be
30:19
used int to back the liquidity of the
30:21
coins that that’s the idea there and
30:25
it’s still a work in progress but I
30:27
wanted to put it out there so we could
30:28
all think about that right then what am
30:36
I saying here so this tier – fear term
30:42
deposits cooperative members that wish
30:46
to extend credit or their credit
30:48
worthiness into their supply chains
30:50
because it provides liquidity to their
30:54
to their customers so that they
30:57
basically increase their own turnover
31:00
and the the inventory or how quickly
31:06
that turns over in their accounts as
31:08
well accounts payable is it will be
31:11
lower so it gives access to a more
31:16
liquid local market this is the anchor
31:19
corporate membership point and the
31:21
points are making are kind of all in
31:23
here and I’m trying to explain
31:25
the the general framework of these ideas
31:31
that I’m throwing out because that
31:33
hopefully will spark other better ideas
31:36
so that we can come up with something
31:40
you know strong original and applicable
31:44
to a Swedish context and a local context
31:49
the different places in Sweden and in
31:52
achieving that it becomes a much easier
31:54
cell to recruit membership so factoring
32:04
is a business in banking which increases
32:08
liquidity for a firm but it’s very very
32:10
expensive so part of the research we
32:14
need to do is to see what 30 day credit
32:16
terms 90 day credit terms 120 day credit
32:19
terms are available in the market and
32:21
what sort of discount rates are paid
32:23
applied to the factoring there and it’s
32:27
the sort of question that is answered in
32:29
the lis ta employment and local currency
32:34
paper which are sent before so we need
32:39
to look at collect the clatter eyes
32:41
credit so the larger or the richer
32:49
people that extend their credit or
32:52
people that take that credit where
32:54
there’s the possibility of providing
32:57
security backing up their receipt of
33:00
that credit that will obviously at scale
33:03
so that could be secured on property and
33:06
stops stock or working capital sort of
33:10
thing
33:11
and then we need to look at reputation
33:14
authentication and credit scoring and
33:17
that again is something on a theory and
33:20
where lots of interesting things can be
33:23
done I mean I’m saying a theorem because
33:27
this the blockchain is there and so you
33:31
we can come up with these ideas and the
33:35
actual network of computers that compute
33:38
the algorithms
33:40
lock in those contract promises
33:46
basically it is there so you know we can
33:51
make a very feature-rich discount credit
33:56
union club type thing in the individual
34:01
markets and actually brand the
34:05
particular types of tokens and of course
34:08
because the tokens available on people’s
34:10
phones they have them on their phone
34:11
there for outreach to customers again is
34:16
is is incredibly interactive and it
34:21
allows for really proactive selling for
34:26
the retail oriented general public
34:30
oriented people a coffee shop or a cake
34:33
shop or a Baker’s a book shop you know
34:37
so on so forth I mean it’s really
34:40
knocking doors and going down high
34:42
streets really so I’ve just sort of you
34:54
know those types of shops repairs for
34:57
surprise you know like breakages and
34:59
stuff laser stores activities B&BS;
35:02
hotels restaurants bars club I mean I
35:04
just try to start throwing out you know
35:13
visualizations to start sparking off
35:17
some some synergies I mean I don’t want
35:25
to sound like addiction isn’t very well
35:26
this this is actually a good hidden
35:29
secrets of money wall chart it’s not a
35:33
hundred percent correct and how money is
35:35
created even in the u.s. which is
35:37
designed to show it’s this step for here
35:41
which is slightly in the videos he gets
35:45
this right this idea of the the bank
35:49
multiplier is just bogus now there’s
35:53
linked further on to positive money if
35:55
you look at that banks are they you know
36:00
banks are just originators of loans it’s
36:03
got nothing to do with needing deposits
36:08
that’s one way that it could be done but
36:10
it’s almost in fact never been done that
36:13
way but but it’s a good diagram in that
36:16
it shows how io u–‘s are circulated and
36:22
you know where you’ve got interest in
36:25
commissions and fees won’t go back and
36:27
forth it’s just it’s got a nice
36:29
representation of it so I’ve done this
36:36
slide on the money creation process
36:37
because it’s really key to recruiting
36:40
members because money is an IOU and bank
36:48
credit or bank deposit money is an IOU
36:54
which is secured against your own your
36:56
own credit your own collateral the bank
36:58
have usually less skin in the game than
37:01
you do most people don’t know that and
37:03
when you tell most entrepreneurial
37:05
business owners and then give them a
37:11
possibility of getting some of the
37:15
benefit of their own creditworthiness
37:18
it’s it’s actually a pretty compelling
37:24
you know proposition so the rationale
37:29
behind complementary currencies is that
37:37
it uses the group’s credit terms and to
37:41
promote the joint interests of liquidity
37:44
and whatnot within the community without
37:47
leakages and to explain that one has to
37:53
have access to an idea of what the money
37:57
creation process is it’s basically the
37:59
same in Sweden
38:01
England and with the phasing our cash
38:03
that’s a really big big selling point
38:05
for us
38:09
even with this swishing you know because
38:12
banks then monopolies they’re greedy and
38:15
historically they do you know because
38:18
they’ve been monopolies they’re although
38:20
they claim they give a very good and
38:22
efficient service is that’s true up to a
38:26
point but they basically milk it and
38:32
also as Bernard laity essays with
38:37
increased efficiency becomes less less
38:43
robustness if you like so here we are I
38:47
kind of made a list of ten bullet points
38:51
for the crypto complementary currency
38:54
cooperative idea could be coin the last
38:58
see you know remains to be decided
39:02
amongst ourselves cooperative
39:07
cooperation I mean I did I’m fairly
39:10
sanguine myself but but it’s just to
39:14
stop putting some hooks there for us to
39:17
start hanging different hats on and see
39:19
what fits and what soups so benefit from
39:23
leverage of own credit credit on
39:26
favorable terms and to new entrants
39:28
startups so it couldn’t you know
39:32
basically banks just aren’t doing there
39:36
anymore
39:38
anyway and what they do do is very
39:40
expensive so counter cyclical effects to
39:44
the wider market we’re bank example
39:47
cross selling and economies of scale in
39:49
marketing and the online marketplace not
39:53
just in marketing but also in purchasing
39:56
possible inflammation implementation
39:59
through phone apps android apple I like
40:03
those recycled block phones but but
40:05
again in terms of implementation hand
40:11
phones
40:11
a really good thing because most people
40:15
have them
40:16
and it’s then just a question of
40:18
scanning the the barcodes and stuff
40:23
Federation into affiliated markets and
40:26
membership so that means that if you’re
40:30
in a local level you have access to a by
40:35
the network if you’re big and it’s
40:39
difficult for you to deal at smaller
40:43
things that the smaller levels because
40:47
we’ve got these organized groups of
40:51
people it can kind of make the scale of
40:56
business worthwhile for someone larger
40:59
that’s the idea their interaction and
41:05
support of online presence with websites
41:08
and e-commerce it kind of leads into
41:11
things like virtual sales presentation
41:13
streaming video
41:14
the blockchain variability or all of
41:20
that because of the complimentary
41:24
currency and that’s being provided it
41:29
gives access to blockchain what’s it
41:34
called it’s called a knowledge pool
41:35
isn’t it or whatever so it’s it’s the
41:38
knowledge pool in it that the the the
41:41
community is available we can point
41:48
oops-a-daisy point to the success of the
41:52
Bristol pound Ithaca hours where Bank I
41:57
mean on the burner later site they’re
41:59
all listed the complementary currency on
42:03
coin war was all of the different crypto
42:07
currencies are listed further on all the
42:10
peer-to-peer loaning type things a list
42:14
in the future slide the report from last
42:19
year about the growth and the
42:20
peer-to-peer market
42:23
this is a growth area
42:25
this is banking’s monopoly being
42:29
dismantled effectively so it’s hugely
42:34
disruptive to that but a big big
42:36
positive in terms of giving ownership of
42:42
people’s ability to do business with
42:47
people that they have checked out
42:50
themselves and light rather than having
42:51
to be blessed by say highly centralized
42:57
highly biased outside third-party ie
43:02
traditional commercial banks so that’s
43:06
this point a central banks and
43:07
commercial banks are phasing out cash as
43:10
well and so they’re giving up well it’s
43:13
not really their niche cash is really
43:15
the government’s niche so they’re
43:18
robbing the government blind in doing
43:20
their for my government so saying okay
43:22
to it who knows because if they’re
43:24
robbed
43:24
it’s our money that that’s being robbed
43:26
this is from the bank of Engel England
43:31
paper on modern money so if anyone has a
43:36
problem so hold on again you know
43:39
where’s the proof of this
43:41
well the Bank of England say it there’s
43:43
various other there’s lots of lots of
43:47
research now and Confirmation empirical
43:49
evidence that this is you know that’s
43:52
how the whole thing works but you know
43:56
these sorts of diagrams are helpful and
44:02
I you know what I want to do is start
44:03
developing a kind of a handbook so that
44:09
when we pitch in customers you know
44:13
there’s a handbook that we can leave
44:15
with them or an online kind of magazine
44:19
type thing which we can produce you know
44:23
as things sort of grow but but so so
44:29
that they in their own time can sort of
44:31
check out the facts you know
44:34
all of these things are there’s a
44:37
fact-based
44:39
this is quite a good diagram of showing
44:43
how banking works at the moment and if
44:46
the thing I mean it’s obviously by
44:48
someone who’s really dick he’s gonna
44:50
know heard of him I found on the web
44:52
today was the Bank of England Rothschild
44:54
system they really need to go there but
45:03
Bank of England reeks Bank you know this
45:08
is this this is how it’s done
45:10
so the ECB does it tell the Fed that’s
45:13
it more or less and it’s it’s a nice
45:17
diagram I don’t like his arrows on that
45:20
one right examining the peer-to-peer
45:27
lending business business lending and
45:30
crowdfunding spaces obviously
45:34
establishing a destination and a crypto
45:43
complementary currency coin if you like
45:46
the tier 1 complementary currency offers
45:50
market liquidity TT the tier 2 forces
45:56
bonded crypto cash offers possibilities
46:00
for Inwood investment through
46:02
crowdfunding third party apps this bond
46:07
Alaura thing was just quite an
46:09
interesting thing they have they they’ve
46:10
got good graphics that’s the only reason
46:13
that they’re kind of this 20
46:14
peer-to-peer lending Pro the graphics
46:16
are quite good but what this shows is
46:22
they have a platform upon which it’s
46:27
kind of this white label type platform
46:30
where people can do their own branding
46:34
in specific markets but it all gets
46:38
passed back through to the bond or a
46:40
platform this is what aetherium does and
46:43
the it’s open source etc
46:48
and it’s one person I think it’s very
46:53
cool it’s absolutely ideal for what
46:55
we’ve been trying to figure out right so
46:59
the purpose of all of this is to
47:03
construct that like a conceptual
47:05
framework and then we can identify the
47:11
core areas which we then can then
47:13
research further to find out on the
47:15
80/20 principle which 20% of our effort
47:20
is going to generate 80% of our profit
47:22
and you know it’s that gonna be person
47:29
to person business the business tier one
47:31
currency tier two currency or something
47:34
else and we need to think about
47:36
membership fees fee levels whether their
47:39
annual whether their lifetime blockchain
47:43
or whether they’re in the crypto cash or
47:49
whether they’re in
47:54
Kronos or fiat money blockchain
47:58
commission structures for mining we need
48:02
to look at the minting and all of that
48:04
sort of thing we need to look at
48:05
demurrage surpluses generated
48:09
possibilities there we need to look at
48:11
interests surpluses from the tier 2 side
48:15
the de Mirage obviously is from the tier
48:17
1 side and then we need to look at
48:22
membership or known ownership structures
48:27
and governance structures again the
48:30
theorem democracies contracts and all
48:33
the rest of it quite interesting for
48:35
some ideas on that then we’ve just got
48:39
some clearly if we’re in the loan
48:45
business and all the rest of it we’ve
48:46
got to have all this stuff so this is
48:50
just showing having a traditional loan
48:53
who does what where and what gets sort
48:57
of passed on where
49:00
but then that goes into the loan
49:03
origination process so all these
49:06
processes can be transparent online if
49:13
you like a for example and again people
49:20
are going to want to know that these
49:22
different traditional banking due
49:26
diligence systems are in place and of
49:31
course of course they should be just
49:38
some examples there this this is from
49:40
the bond or a thing just all these
49:43
different platforms and how big they are
49:44
for the p2p spaces we’ve seen the
49:50
previous research on all of this but
49:54
they’re nice nice diagrams with lots of
49:56
nice arrows this is the bond or API
50:01
third party at party apps I was just
50:03
talking about and that is that
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