|
TOWARDS
A PURE CREDIT ECONOMY
VeraCoin™
is designed to benefit Main
Streets around the world by providing a medium of exchange to
facilitate communities in moving towards a “pure credit”
economy. “Pure
credit" means lending productive capital to enterprises
based on future earnings rather than on collateral, thus
allowing for a more democratic distribution of capital essential
for obtaining productive assets.
A “pure credit” economy on Main Street can stimulate local commerce by providing low cost
financing for local capital investment.
The “pure credit” economy is advanced by Vera City
members, through utilizing a
portion of the reserve funds representing the underlying
dollar assets securing VeraCoin™.
The level of reserve required to satisfy the need to
convert to the dollar is expected to lessen over time, allowing
for a greater amount of funds available to underwrite members
development loans. This
unique approach to providing capital will insulate Vera City
members from the potential usury by the fractional reserve
banking system beneficial to Wall Street.
Further, as part of a “pure credit” local economy, the VeraCoin™
monetary
exchange infrastructure will be used to assist member businesses with
self financing their capital improvements or expansions.
Business members will be assisted in creating and managing social
underwriting of their business expansion, this will affectively
be a digital currency in the form a digital gift card, which is issued
to carry out a specific goal and self extinguishes as it is
used.
|
A
REAL WORLD EXAMPLE:
A tiny organic café called Comfort decided to expand to
a second, larger location. John, the chef and owner,
sold Comfort Dollars in the form of a VIP card. For
every dollar spent on a card, the customer received the
equivalent of $1.20 worth of credit at either of his
restaurants. John
got the money he needed a lot cheaper than if he were
borrowing it from the bank—he pays for it in food and
labor that he has in ample supply. Meanwhile, customers
get more food for less money.
|
Vera City members acquainted with their individual
communities will be crowd sourced to provide vetting in regards to
the viability of projects seeking credit in their communities
and/or regions. Further,
the members will also have the opportunity to privately invest
or lend money on the offerings posted for Vera-credit; very much
in line with the social networking crowd sourcing and funding sites already
proving themselves on the internet.
In
this way the options for providing productive capital for local
initiatives is expanded, providing a more equitable distribution
of wealth creation.
TABLE
OF CONTENTS
AN
INITIATIVE TOWARD A SUSTAINABLE FUTURE
VERACOIN™ – A Global Complementary Digital Currency
BENEFITS OF VERA-CITY, VERACOIN™
&
VERASHARES
REVENUE
STREAMS - VERA-CITY, VERACOIN™
&
VERA SHARES
TOWARDS
A PURE CREDIT ECONOMY
A
COMPLEMENTARY CURRENCY PRIMER
OPEN
ENTERPRISE MODEL - A SELF REPLICATING SYSTEM
AN
OPEN LETTER TO OCCUPY WALL STREET
THE 1%
- A HISTORIC PERSPECTIVE
IN
CONCLUSION
|
