[ANN] [FCR] Future Credit

[Futurologist]

Currency Announcement: Future Credit [FCR]


We heard that it is customary to announce new electronic currencies here. We have created a "currency" mostly as an experiment to explore the possibilities of what can be done with the counterparty platform. (see www.counterparty.io)

It is associated with a small group of futurologists which is why we chose the name. Our new "currency" is an asset on counterparty called the "FUTURECREDIT". (If you don't get the name exactly right on counterparty, you can be dealing with a completely different asset issued by someone else.)

Like bitcoin and most altcoins, the future credit has no fixed value at its inception, has no businesses accepting it as payment, cannot be redeemed for anything by the issuer, is not directly backed by any assets and may or may not be worth anything depending on whether people decide it's worth having.

Issuance of new future credits is not locked and there is no limit on the amount that may be issued. The notional initial value is 10,000 future credits to one Canadian dollar, but that could fall even lower. Millions of them have already been issued.

Future credits cannot be mined.

We have not developed any new software or technical advances for this. Future credit is just an asset on counterparty. We are not associated with counterparty except as users of it.


We're not trying to recruit miners since the future credit cannot be mined.

We're not trying to get anyone to buy future credits since they can't be spent anywhere.

We're not trying to get anyone to invest in futurecredits since they are obviously not suitable for investment.
 
We're not trying to get anyone to accept payment in futurecredits since there is currently no way to spend them or convert them to any kind of real money.

We're just impressed with counterparty and want to experiment with it among ourselves and try out some ideas. If it starts being used, trades at a higher value or, for that matter, has much trading activity at all, then some of our ideas might be working.

[kcanup]

So what is the purpose of this token if there is no use at all? And by the way "FTC" taken for feathercoin already if you dont know yet 

[keesdewit]

New feathercoin LOL

[Futurologist]

Thanks for the input. I have deleted the reference to FTC. Did not know it was already taken.

[Futurologist]

There are several purposes for the Future Credit. I just didn't want to sound like I was trying to hype it so in the announcement I just talked about what it is now which is close to nothing. There are several ideas on what it could be used for:

1) As a perk to be given away in crowdfunding campaigns to raise money for technological research via what we are calling the "Future Technology Fund". I didn't mention it because no such crowdfunding campaigns have been launched at this time. Discussions with researchers have begun, but we haven't gotten very far with that at this point.

2) To be (hopefully) accepted as payment someday by businesses that commercialize new technologies funded by the crowdfunding campaigns mentioned above.

3) Perhaps to be used in a simulation game that explores possible future scenarios. Different scenarios would have different assumptions about how fast various technologies could be developed and which technologies are even possible.

4) Possibly to be a voting mechanism for people to vote on research priorities for the Future Technology Fund.

That's the thinking at this point.

[Futurologist]

So what is the purpose of this token if there is no use at all? And by the way "FTC" taken for feathercoin already if you dont know yet 

Is [FCR] taken? I can't find any altcoin with it. If it's not already in use, we're claiming it.

[kcanup]

So what is the purpose of this token if there is no use at all? And by the way "FTC" taken for feathercoin already if you dont know yet 

Is [FCR] taken? I can't find any altcoin with it. If it's not already in use, we're claiming it.

No, im not aware of any coin with ticker FCR.  Good luck!!! 

[bhokor]

How do you think devs to create incomes for this project?
do you have some official web page or whitepaper?

thanks and good luck

[Futurologist]

How do you think devs to create incomes for this project?
do you have some official web page or whitepaper?

thanks and good luck

The project already has income. The Future Technology Fund has already raised about $4,000 (Canadian) and invested most of it. The fund began operations on October 1, 2015. Although the primary purpose of the fund is to invest in technology, funds not yet employed for that purpose are invested in other things just to generate a financial return. So far that is going well and generating income for the fund. It's not much, but the plan is to raise more money via crowdfunding and invest that.

There is no website up yet, but the domain names futurecredit.org and futuretechnologyfund.org have been registered for our use.

We have not published a paper on what we're trying to do. We're not even familiar with how that is usually done in the bitcoin and altcoin community. We know that in academia, various journals are the usual forum for publishing papers. Of course, you can just self-publish things on your own website. What is the usual way altcoin papers are published?

[Futurologist]

We have had some interesting results with FCR. It is exchangeable for other crypto currencies on counterparty and has risen against TETLAS and XCP by about 1000% since inception on October 1, 2015. We are considering putting up a website and asking to have FCR listed on an exchange or two. We would be interested in getting advice from someone with experience in getting a crypto currency or asset listed on exchanges. Does anyone here know much about how that is usually done or have any experience at it?

[Futurologist]

We now have a website at https://futurecredit.org.

Also, when we started, there was nowhere you could spent futurecredits. Now there are several things you can spend them on directly and there are markets on counterparty (see https://counterparty.io) where they can be exchanged for XCP, the counterparty currency and Tetlas. Tetlas are a local alternative currency we previously created that is accepted by dozens of local businesses on Vancouver Island, mostly in Victoria, BC. (see https://tetla.org for more details)