Arnold Kling describes working on the technology frontier as trial and error and error and error and error. This experiment may be one of those errors.
Bitcoin is amazing technology that has changed what is possible. However bitcoin chose to have a deflationary coin, yet in todays world we actually suffer from a lack of inflation. To address this gap in the market we will be issuing an inflationary currency.
The currency is available on Counterparty now, trading under the name: MARIOS.
Named Mario Money after Mario Draghi, the currency has 4% yearly inflation rate. Additionally the currency is pegged to the US dollar, so there is no need to be concerned about fluctuations day to day. The peg will be adjusted quarterly as inflation data is released.
The aim behind this move is to help people feel more comfortable using a digital currency. With a little bit of inflation we hope people spend their money rather than hold on to it as a speculative investment.
Digital currency for the 99%. This currency is for a level playing field, the politically connected cannot get any special favours. We have no deposit insurance, no lender of last resort. And to ensure no corrupting influences we aim to limit the asset size of banks to less than 2% of Gross Currency Product. The mechanism for this is still in the research phase, so suggestions would be greatly appreciated.
We have launched our first coin in 2014 on the Counterparty Platform (a so called minimum viable product). Our next coin will be issued in 2015.
Drop by
mariomoney.launchrock.co and leave your email address to keep up to date.
Any feedback will be welcome.
