Hello folks, in today's post I'll share with you an interesting project that I've been following for quite sometime.
Project Duniter
This project aims to change the very concept of money as we know it. Basically, they rely on a theory called the Relative Theory of Money, also known as RTM.
What is Relative Theory of Money?
Relative Theory of Money or RTM was proposed by Stèphane Laborde. In current state of our modern world, money is created by banks that gives them power over our economy. But, according to this new theory proposed by Stèphane, in order to preserve the economic liberty of every individual in a state/nation, they must be given the equal right to share the benefits of money creation. Further, the theory ensures that every past, present and future individual can benefit from the same monetary value during his/her life. This particular aspect of this theory is interesting, since it accounts for the temporal dimension, so that no generation gets an advantage regarding the money it disposes of.
Opinion
It seems to be a growing project with handful of users. If sucessful, it can have some very interesting real world applications, especially in the area of equitible distribution of wealth and income inequality. Furthermore, it can be a great asset to the students and the older section of our society, as it can make them financially secure, and also help them pay off their debts early on. I see a great a benefit for the older generation especially the ones who age beyond sixty and counting. It can help them pay off their expenses, and save their retirement benefits. Overall, I think this project has some very good real life utility, and is worth a shot.
You can download the Cesium app from the link below, and read more about Duniter and their efforts on the following links:
https://duniter.org/
https://cesium.app/en/
Have a nice week
