MORAL CONTRACT OF BAGUETTE EGALITE
There is a "moral contract" that must be accepted by all entities who start to use $BLE as a currency for the sale/purchase of physical goods. I insist on the notion of "physical goods" as there are no supplementary rules for the purely financial trading of $BLE (on crypto exchanges for example). Any kind of financial speculation is allowed because devoid of consequences on the long-term existence of this token. The following rules only apply once the currency is used for real-life trade of physical goods.
These rules have been stored in the token's smart contract as nine string variables (simple comments would have been removed during compilation) and can be retrieved by code from another contract (by a simple "emit" command for example). They don't really serve any purpose in the code but remain embedded there forever, as a reminder and authority.
"The usage of baguette-egalite coin as a currency to sell or purchase real physical goods is only authorized under the following conditions:
- -One baguette-egalite coin is the exact price to buy one traditional french baguette of bread of 250 grams, such a the kind routinely sold in France
- -The costs associated with the production of the actual baguette (or other item sold), including raw materials, energy, and wages are included into one baguette coin as a ratio of it
- -The merchant's profit on one baguette is also considered to be included into one baguette-egalite coin
- -One actual bread baguette should be sold for exactly one baguette-egalite coin, no more and no less
- -Other pastry or bakery articles should be sold in multiples or fractions of a baguette coin that are reasonably proportional to the proportional value of these items when compared to the value of a physical bread baguette.
- -Other physical articles of any kind should be sold when possible, using the same assesment of their value in relation to the value of one actual bread baguette to determine the value in baguette-egalite coin
- -Following these rules, the price of all physical articles must be established as a consensus between seller and buyer, using common sense and good faith to reach an agreement on the price of these articles in baguette-egalite coins.
- -Purely financial trades of this token on exchanges, such as for example, buying or selling the coin against another currency, lending, stacking, etc... are not subject to any regulations other than the laws of the market.
code-embedded version below
"The usage of baguette-egalite coin as a currency to sell or purchase real physical goods is only authorized under the following conditions:",
"-One baguette-egalite coin is the exact price to buy one traditional french baguette of bread of 250 grams, such a the kind routinely sold in France",
"-The costs associated with the production of the actual baguette (or other item sold), including raw materials, energy, and wages are included into one baguette coin as a ratio of it",
"-The merchant's profit on one baguette is also considered to be included into one baguette-egalite coin",
"-One actual bread baguette should be sold for exactly one baguette-egalite coin, no more and no less",
"-Other pastry or bakery articles should be sold in multiples or fractions of a baguette coin that are reasonably proportional to the proportional value of these items when compared to the value of a physical bread baguette.",
"-Other physical articles of any kind should be sold when possible, using the same assesment of their value in relation to the value of one actual bread baguette to determine the value in baguette-egalite coin",
"-Following these rules, the price of all physical articles must be established as a consensus between seller and buyer, using common sense and good faith to reach an agreement on the price of these articles in baguette-egalite coins.",
"-Purely financial trades of this token on exchanges, such as for example, buying or selling the coin against another currency, lending, stacking, etc... are not subject to any regulations other than the laws of the market."
It's a "moral contract" and there is no physical authority to enforce it, therefore the adequate usage of this token relies on the good-faith agreement of both seller and buyer, in what I call an "intellectual consensus". Both parties must be watchful and fall into agreement on the price of the articles exchanged before finalizing the sale. It should be a trivial matter in most cases, and in case of disagreement they should refuse the transaction.
For example, I assume that per traditional usage the seller should have the authority to set the price, and the buyer should have the authority to accept or refuse it.
As I said there are no rules for the financial trading of this token against other crypto or FIAT currencies. This bears strong consequences, notably in price variability on the exchanges.
We have considered the possibility that this token could reach prices notably different from the price of an actual bread baguette. For example it could sell for one hundredth of a dollar or, on the other extreme, for one thousand BITCOINS.
We have come to the conclusions that this purely financial price variability will become irrelevant in the long term. And that if the coin becomes adopted as a common currency, arbittrage market forces will slowly, over time, level it to adequate values.
Of course this financial stabilization will only happens over time, so there could be chaotic value shifts in the value of this token during the first few years. Maybe some cutthroat speculation from outside forces, anything is possible...
For this reason, we also do not recomend to use this coin as a speculative asset. Baguette égalité token was created for the real-life use-case, and this real-life usage could be detrimental to the expected financial profits (appreciation or depreciation) from financial speculators.
The $BLE smart contract doesn't do anything fancy. It's a dumb passive coin, and except for the aforementioned strings, it follows the standard BEP20 code from Binance. It can be audited by anybody on BSCSCAN.
