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Friday, January 26, 2018 5:07:25 PM
1. We are creating a system called Agoric which is more powerful than Ethereum on several key dimensions:
Agoric gives programmable control over currency by allowing you to specify rules for: ISSUANCE; TOKEN APPRECIATION LOGIC; BACKING & REDEEMABILITY; GOVERNANCE.
Agoric decentralizes the blockchain VM itself (i.e. it’s “post blockchain” technology) and thus allows you to create PRIVATE CONTRACTS which are verifiable, non-forgeable and non-repudiable.
Agoric is designed to put the tools of finance and self-governance into the hands of the masses. In this way, Agoric is to Ethereum what Excel is to assembly language.
2. Simultaneously we are working towards a public launch of Agoric and the initial Economic Spaces in phases
Economic Spaces = new DAOs and currencies backed by applications such as...
e.g. Decentralized Hedge Fund Cooperatives; Personal Currencies; Decentralized Autonomous Corporations; Global Good Brokerages; Time Banking & Other Social Currencies; Truth Markets; Collaborative Insurance; Startup Equity Liquidity Pools; Corporate Profit Unionism; Household Unionism; Sovereign Governments; (more detail here).
Imagine if Ethereum launched publicly with Augur, Iconomi, Golem, The DAO, etc. already in place, each with a community curating its development and governance in an intentional and thoughtful way, and with their tokens already matured and trading with limited liquidity before the Ethereum ICO.
Regarding public launch, ours won’t be a “traditional” ICO with incentives for speculative bubbles. Rather, token appreciation and liquidity will be designed to be adaptive to the actual value being created by and through the system.
3. We are practicing what we preach in that the core team is collaborating with non-technical “Econauts” who design the initial ecosystem and actively stress test the Agoric system.
Econauts buy in with BTC, which initially backs Agoric’s master token, and funds the development of Agoric and the Economic Spaces themselves.
All activity within the Economic Spaces increases the value of — and becomes the ultimate backing of — the Agoric master token.
Econauts are true collaborators (not passive investors or speculators) in the creation of what is ultimately a master DAO for the creation of a plentitude of sub-DAOs (i.e. the Economic Spaces).
By "collapsing the VC-entrepreneur wave function” we are both filtering for value-aligned funding, and staying out of the gray area of securities laws. In effect we are a general partnership or cooperative (see the self-sovereign partnership agreement).
https://www.rafefurst.com/agoric
https://economicspace.agency
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