More On The Talent
Very soon now, we’ll start crowdfunding for the national implementation of the Talent in the Netherlands, called the ‘Florijn’.
We will very much need every cent we can get to get things going so we can build a truly flourishing network, with many thousands of businesses and consumers.
It’ll be an opportunity for all to actually DO something about this most pressing of issues………….
Here’s some more input on the Talent’s specifications.
Hybrid: some units created as debt free units, and sold for Euro. The euros are put in a ‘stabilization fund’ which can be used to buy up units on the exchange if there is excess supply/insufficient demand.
But most of the units will be created simply as mutual credit: double entry bookkeeping.
No transaction costs! Transaction costs discourage transactions. The last thing we want.
Businesses pay (typically) 10,- per month in the Talent based unit. Because of the convertibility that the Talent allows, the issuing organization can accept payment in Talent too, which obviously enhances both ‘liquidity’ in the network and the credibility of the unit.
Of course these costs are very, very low and it does mean that the unit needs a fair few businesses to be self-sustaining.
The on-line exchange, that allows convertibility, is our own software, as Cyclos does not support such functionality.
Modes of payment:
On-line telebanking, pay per phone (SMS). Paper money is optional.
Configured at 0%, but depending on the circulation of the unit in practice, the Talent is ready for it.
Secure against manipulation:
Full control within the network for the system’s management. Management can guard against speculation, rent-seeking activities, hoarding (with the purpose of sabotage and manipulation of volume) etc.
True: centralized management brings responsibility and risks of its own, but Bitcoin shows that non-centralized, user based control sees quick cornering of the money market.
And below a presentation, juxtaposing the Talent vs. the main architectures currently available.