projects that seem to exist for no purpose other than how much money they can put into the pockets of investors strike me as having very little to do with making the world a better place.
My 25yo son and I are working on a protocol for a new cryptocurrency token that is orders of magnitude more decentralized than bitcoin. It's foundational premise is that founders (e.g. him and me) will never and could never line their pockets by granting themselves tokens that they did not earn on equal footing with everyone else (literally, everyone else).
There will be a mechanism for profit-making by those who choose to 'invest' in the project. Anyone (with a computer) will be able to invest and they won't need our permission, and 100% of their investment will be solely for their own benefit. They will be literally investing in the project itself, not in its founders. We, as founders, will be able to invest in the project personally, but only to the exact same extent that anyone else will be able to -- everyone will be participating on a completely level playing field, and it will all be transparently described, in its entirety, in the White Paper.
No tokens will exist or be minted prior to the White Paper being published and neither my son nor I will have any control over the creation of future tokens (other than the ones we might choose to mint by following the protocol described in the White Paper). Whomever follows the White Paper's protocol will be able to mint the tokens. They won't need our permission, or anyone else's.
Uhm, it sounds a bit enigmatic and kinda interesting. I just wonder what the activity to develop to "mint" these new tokens on that platform will consist of as a profit-making mechanism and that such activity might be useful and attractive enough to lure users and investors and that such a project and crypto platform might be truly scalable and sustainable over time to keep everyone active, engaged and loyal there?
Well, anyway... looking forward to read that White Paper to be able to half decipher the mystery.
It certainly sounds intriguing and interesting @trostparadox. I'll be interested to see what you end up with. I'm definitely in favor of decentralization and the absence of "ninja mines!"
From the sound of things, this will be an "earn" type protocol? Meaning, participants are earning for performing some kind of activity? Well, I guess we'll find out when the White Paper comes to light!
=^..^=
Correct.