World's first secure Digital Economy which is immune to Financial Crisis.Plutocracy is first stateless Decentralized Economy deployed on the Ethereum blockchain. It is the Central Authority for ERC 20 compatible token, Krown. Plutocracy operates under particular protocol governed by secure functions. The primary objectives are to preserve and grow the wealth of token holder, ensure self-sufficiency in the economy and avoid Financial Crisis in the Plutocratic Economy.
What makes Plutocracy immune to Financial Crisis? In the Plutocratic economy, the liability of the borrower is limited to the units of Krown borrowed irrespective to the market value of the Krown. This system is to avoid lending motivated by receiving interest or other incentives (commission) on borrowings which would prevent financial crisis inside the Plutocratic economy.
How will the economy grow without lending? In the economy, if the market value of the Krown is expanding rapidly, the economy is taxed, and if the value of Krown is subsiding or denying growth, the economy is rebated. This taxing and rebating ensures the stable, sustainable growth of the economy without inflation and avoids market value exceeding the intrinsic value significantly (Economic bubble). Proceeds of the taxed amount will be deployed into the deprived economy. This deployment, in turn, will create additional demand in the economy and would drive the Krown value and ensure equal distribution of wealth.
Read the Whitepaper: https://plutocracy.co/resources/pdf/Plutocracy_Whitepaper.pdfFollow on Twitter: https://twitter.com/krownplutocracy
