Project Bitgesell Description This project is call | Bounty.cool
Project
Bitgesell
Description
This project is called in the honour of Silvio Gesell. He created monetary units that were losing their nominal value over time (demurrage) and combined with currency emission this would result in people spending them quicker and incentivizing economic activity. He called this as a term "freigeld". Modern monetary policy that includes planned inflation as depreciation is influenced by the ideas of Silveio Gesell as well. I have combined the concept of "freigeld" and gold as traditional store of value and demurrage works in reverse (not the way it was used for currency but for gold) adding more properties of digital gold through gradually increasing scarcity over time. Could you imagine gold which volume in existence is gradually decreasing over time? One of the essential functions of money is that it constitutes a means for saving and securing the fortune of people, since it guarantees immediate cash flow. In the pre-banking era, the house or the ground served as a safe where they kept and hid their small or large savings and hoards, both during wars, enemy raids and natural disasters as well as during peaceful times. The private banks and those operating inside sanctuaries in the ancient Greek Roman world are the forerunners of the banking system that was organized and developed in the late Medieval period and in Modern times into the banks of the mercantile societies of Venice, Genoa and the Netherlands. Cryptocurruncy is new generation type of organization for solving this issue. Bitgesell - Future of Bitcoin and True store of value.
Dates
03.07.2021 - 31.07.2021
Campaign Budget
30k BGL - 450 USD.
Budget allocation
Article: 10%, Video: 10%, Translation: 80%.
Bitgesell (bounty programm)
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