Libre-as-freedom currency proposes a monetary design respecting the four economic freedoms (as the four principles of Libre software) defined by Stéphane Laborde in “The Relative Theory of Money”.
- Freedom of choice of currencies and accounting methodologies;
- Freedom to access resources;
- Freedom to produce;
- Freedom to exchange and determine prices.
Libre-currency proposes a self-issuance, or co-creation of units by the people of the monetary system for the people. Calculated on a mathematical equation with three variables: number of human members alive, their average lifespan and monetary mass, it ensures symmetry on space and time. As no material value is absolute in space and time, Libre-currency is rooted on our unique common value among humans on Earth: being alive on Earth!
Symmetry in space: at a time T, everyone wherever he is, co-creates its part of money at the same amount. Symmetry in time: an old generation could not co-issue more than the next, and the next more than the former. Therefore it’s sustainable as it’s valuable for everyone everywhere; no one can deprive others even next generations. Respect, innocuity and sovereignty are embedded in the DNA of Libre-currency, as every human member is an equal co-creator of the currency, independently of its production, unconditionally of its status. People are co-producing their universal dividend because they are humans alive. Organizations can also be part of the monetary system but they aren’t co-issuing units, only trading.
As Bitcoin, Libre-currency algorithm generates monetary units. But unlike data mining, here algorithm relies on the three variables; unlike proof-of-work, it’s people’s proof-of-life that determines recurrent and periodical creation of units (per day, week, month…). Thus each human member’s wallet increases evenly according to the universal dividend co-created. Then members, human or organizations, can use their units to sell and buy among them as any currency. A blockchain ledger records either recurrent issuances or transactions exchanges.
According to experimentations, issuing money with Libre-currency creates favourable conditions to behave toward social changes and sustainability, as it’s intrinsically fair, abundant, transparent and decentralised. People are responsible, equal and free, and Libre-currency insures durability and reliability.
Moreover each monetary community self-manages its Libre-currency. The only needs are a way to regularly validate that people are alive meaning having a “proof-of-life” mechanism (e.g. through web-of-trust-certification process) and a Libre-currency-algorithm-blockchain. Yet Libre-currency is only solving monetary issuance, other mechanisms have to be set by the members (prices, taxes, finances, marketplaces…).
Three experimentations have been done (MONEY M, OPEN-UDC, UCOIN now DUNITER), three software are developed (CESIUM web, SAKIA client, XXX android) and three Implementations are running (MONEY M pioneer C2C, REAL-NET open worldwide B2B2C2C, SOUS local B2B2C). More are coming…
Game “Trading Floor” (or its fork Ğeconomicus) is comparing Free-currency mechanisms with Debt-currency, allowing players to confront quantitative and qualitative outcomes and attitudes change (metrics would be presented). Furthermore players become aware of their own behaviours in their exchanges depending on the currency used.
universal_dividend, symmetry, libre, sustainable, decentralised
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