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NOTE: This white paper has been written as if ‘The People Coin (TPCoin)’ is already available.
Based on the premise that
You should put your money into land as they are not making it anymore
The People Coin has been developed as a custom token available from the WAVES platform (*) that will enable the creation of a not for profit property purchasing company whose main aim is to reduce some of the direct costs of being human in our rapidly changing world. Initial operating of costs of this company will be funded by TCP’s but given its not for profit status it should be possible to offset if not completely remove this overhead through its own fundraising efforts.
TPC will focus on three major problem areas – Employment, Training & Accommodation – by purchasing land with potential cash generating properties attached.
The WAVES platform (*) is a decentralized blockchain platform focusing on custom blockchain tokens operations. As well as CryptoCoin exchanges through its own decentralized trading exchange and other popular exchanges, national currency transfer is also available through compliant gateway operators.
The People Coin is an attempt to provide an increasing store of value without the usual constraints associated with making gains with Crypto, whilst providing Community based solutions to major world wide problems. It can also be used as a transactional currency. The WAVES platform (*), with its high network speed, hundreds of transactions per second and small commission makes it as convenient as possible to transfer cryptocurrency between network members instantly.
Introduction
As jobs continue to be replaced by automation, our young people are being forced to take any job that pays the bills and our elderly are living longer than ever before, new systems must be developed as quickly as possible as the old ways are just not working any more. We need to ensure that every person has easier access to employment, training and accommodation as major challenges in their life change. TPC has been designed as an asset based token using the WAVES platform (*) as a practical and proven solution, with the benefit of additional income and trading functionality to aid mass adoption.
Account Types
To create a transactional currency that can provide both a store of value or an income, some form of structure is required to ensure the following remain true:
- A unique individual should only be allowed to have one account to hold or transact TPC’s
- Accounts not tied to individual identities must be permitted to exist for business and privacy reasons.
- The system must remain decentralized to avoid single points of failure.
- Rules must be able to be modified over time to allow for the changing needs of an active economy.
Income Distribution
The goal of the income distribution model is to provide a fair method of providing an income for TPC holders. This will be achieved by increasing the number of TPC’s held by an individual on a pro-rata basis as income is received. Income will be received from supported projects as per business ownership documentation as operational costs of running either employment, training or accommodation establishments will be vastly reduced due to the removal of location costs. This distribution method will also ensure that additional TPC’s entering the system will always be determined by a fixed amount and not trading potential.
The total number of tokens targeted to be added to the economy initially is 3 million TPC’s. The first property to be purchased is a medium sized hotel that will allow all three focus areas to be targeted from a single location to ensure workable systems are documented for subsequent projects to follow. We need systems – Mcdonalds is only a system based on on different ways to prepare a meat pattie in a bun in the shortest possible time and is one of the largest franchises in the world.
After this stage has been reached, Stage Two will limit the amount of new TPC’s that enter the economy to a sum determined by the amounts required to purchase buildings. To support or not to support further projects will be decided by existing TCP holder vote.
Governance
Governance is an integral part of TPC from stage 2 as a majority vote by the existing TCP holders will be required before new projects can be supported. These rules ensure a fair system exists where nobody has the ability to cheat in a way that is possible with centralized systems.
Each TPC holder has the ability to cast one vote on the network during each election of projects to support. The Project that receives the most votes will be supported by the Property Holding Company.
Voting Duration
Voting will occur at the start of a week provided funds are available from the sale of TPC’s. TPC holders will have one week in which they may cast their vote for their preferred Project. After the voting period has ended the selected project will be notified of the outcome and the legal team will begin preparing the necessary paperwork to acquire the building and preparing the business ownership paperwork.
Transaction Capabilities
WAVES platform (*) is built to be a a transactional currency. This means that exchanging money in the form of TPC needs to be at least as convenient and safe as traditional banking systems. The main factors have been focused on that will allow transferring TCP’s will be as simple as clicking a button or swiping a credit card. This has all being made instantly possible by using the existing structure of the WAVES platform (*) and includes a targeted time of mere seconds per block, low transactions fees, buyer/seller protection and
Funding Proposals
When a TCP holder requires funds to perform some task, they must submit a public funding proposal. This proposal will be written in plain text and then added to the blockchain for voting. Again non-votes will not be counted and a majority consensus is required for the TCP’s to be transferred. Each TCP holder has the ability to cast a single vote regardless of the stake they own.
Protections
Due to the decentralized government system implemented by the Waves Platform potential impact and preventative measures are constantly being monitored, so as to ensure the security of TPC token.
As the WAVES platform (*) directly interacts with the real world through decentralized governance, there are certain rules which cannot be programmatically enforced yet are crucial for the TCP to function as intended. Any issues arising from this will be addressed by making a funding proposal and payments made accordingly.
TCP holders who wish to transfer their tokens to national currency will need to undergo stricter Identity Verification at this time to comply with the Know Your Customer requirements of the compliant gateway operators available through the WAVES platform (*).
Reference
(*) WAVES Blockchain White Paper PDF
