An independent crypto economy in the current environment is one that is not reliant on Bitcoin.
If one wanted to create an independent crypto economy you could follow various routes, Colored Coins, user generated or something like NXT, but most are either built to operate within the Bitcoin Blockchain, or are traded and valued by their relationship to Bitcoin. Secondly they invariably have some sort of centralised infrastructure.
Creating an independent crypto economy can be done in to ways
1) Selling or promoting the idea
2) Just doing it
I did take the route of promoting the idea of creating a group or collective of cryptos that have their own following and market. I did it on a forum other than this one, but found that that was met with a different kind of cynicism. The main block in taking that route was getting buy in in terms of effort.
So I took the second route, and just did it. I however needed to consider a few things.
Dosh on a linguistic level is understood and used by many people around the world to mean money. Another example of a crypto would be Monero = coin.
Everybody in every country knows what
Silver and
Diamonds are.
I believe that the cryptos I have put out there are marketable and can and will grow and exist, with or without being joined, but ideally would prefer that they are.
So the three cryptos I created needed to be able to exist, either in the environment that exists as it is now or be the founding cryptos of a new niche movement. I felt that people might be more likely to join and build a independent economy, if the ball was beginning to roll.
I have needed to think and in essence rebrand the consept, because If you look at the date of the OP of this thread and
this thread, things were pretty close.
Effectively two different entities had the same idea for a name, and one beat the other to the punch. I liked the emotion and spirit of using the term
Greenback as a hypothetical rebellion against the system.
(Wiki) My idea for Greenback was that it would start at a zero value, various cryptos within the economy would use it as a point of reference.
In simple terms “I can get x greenback for what I have and you can only get y greenbacks for what you have, therefore I will give you this much for what you have”
No great shakes, and yes, it is nothing new, but if you consider how many bases Bitcoin has to cover and how much effect any sort of news or regional legislation has, one might see the value in keeping things separate.
Having a unit of trade that’s value is determined by trade or transactions, rather than being the base and or what everything is valued against is also something to consider.
A complete rebrand will be implemented over this weekend, starting with
Redback(Wiki)
