How hard is it to create a new coin/cryptocurrency?
I want to create one with a specific purpose. The basic name for it is the R&D Chip.
The idea is this:
There is no mining, it is all available on the first day
it has an amount of 500,000,000 chips which is sold based on how many have been bought
First 100,000,000 = 1 USD each
second 100,000,000 = 10 USD each
third 100,000,000 = 100 USD each
Fourth 100,000,000 = 1,000 USD each
Fifth 100,000,000 = 10,000 USD each
all of it will be converted into btc, and then the interesting part of this starts
It is all pooled together into one wallet that can be monitored, and all who have at least one chip can vote on the main website for which research & development teams should get funded. The funds are distributed to all the R&D teams that have signed up on a basis of how many votes they have. Also, if you use a chip to vote, that chip is destroyed, it can no longer be used by anyone, it no longer exists. The pooled assets are released once a year and the website will be used not only to buy more chips and vote but to also get feedback and progress from the funded teams.
So basically, it is not a currency, as much as it is a stock used to create democratically funded scientific research. I was thinking about this when I was reading an article on the EmDrive and hypothetical science and learned that research in these fields is mostly done by scientists as hobbies and grants of $100,000 or less. Not only is that a ridiculously low amount of funding for future technology, but it also highlights the lack of funding regular people can give to research, either out of lack of knowledge or the large amounts of capital needed up front.
If cryptocurrencies are the first step towards decentralized capitalism, a cryptostock could be the way people fund science in a decentralized marketplace. It also gives people the power to choose what gets invested.
Any thoughts? Ideas?
I have an idea. You should move this to the
securities thread because this is not a coin.
