Economic Principles of PoPCoin, a Democratic Time-based Cryptocurrency
Haoqian Zhang, Cristina Basescu, and Bryan Ford

TL;DR
PoPCoin introduces a democratic, long-term sustainable cryptocurrency with equitable distribution rules, aiming to reduce inequality and promote stability through innovative monetary policies.
Contribution
This paper presents a novel monetary policy for PoPCoin that emphasizes long-term equitability and sustainability, unlike traditional cryptocurrencies.
Findings
Upper bound on monetary inequality proven
Incentives for rapid early adoption identified
Resistance to deflationary spirals demonstrated
Abstract
While democracy is founded on the principle of equal opportunity to manage our lives and pursue our fortunes, the forms of money we have inherited from millenia of evolution has brought us to an unsustainable dead-end of exploding inequality. PoPCoin proposes to leverage the unique historical opportunities that digital cryptocurrencies present for a "clean-slate" redesign of money, in particular around long-term equitability and sustainability, rather than solely stability, as our primary goals. We develop and analyze a monetary policy for PoPCoin that embodies these equitability goals in two basic rules that maybe summarized as supporting equal opportunity in "space" and "time": the first by regularly distributing new money equally to all participants much like a basic income, the second by holding the aggregate value of these distributions to a constant and non-diminishing portion of…
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Taxonomy
TopicsBlockchain Technology Applications and Security · Economic theories and models · Complex Systems and Time Series Analysis
