During the Blockchain and Bitcoin Conference TARCO International unveiled its Strategy, Vision and Mission.
If blockchain is badly implemented into the current government system, we can end up with more control rather than more freedom
Thierry Arys Ruiz spoke about money, e-voting, digitalised democracies, and blockchain implementation into governments’ systems.
Decentralisation of Money and Governments — Launching Meritocracy.NGO
Decentralisation of money and government is at the core idea of the blockchain revolution- but it takes a careful understanding of the steps involved, to work on this goal.
- The Pillars of the Society
- The Taxonomy of Money
- The Decentralised Organic Consensus
Our three steps leads to the strategy, Vision, and mission, which TARCO International is applying to solve society’s problems:
- Redefine the two institutional pillars of society
- Redefine the financial system
- Move the society towards a decentralised organic consensus
To explain the existing pillars of the society and what strategy can be applied to help, one needs to grasp on the prevailing problems and possible solutions. Here are some of the biggest questions that TARCO International posed:
Question 1.How can we create a robust financial architecture?
By reforming the financial system infrastructure and building the bedrock of an anti-fragile system.
Question 2.How can we move from centralised government to a decentralised consensus?
We need a systematic migration of government and money, using distributed ledger technology to match society’s principles.
“With a system leveraged at historic highs, We fear that the next cyclical risk will become systemic.”
Fractional Reserve System
Basically, fractional reserve banking causes enormous leverage and debt to increase drastically, leading to an exponential increase of the monetary mass.
More explicitly the the result of this system is:
Moral Hazard: The market does not operate truly in a free market, meaning that a group of people can artificially define the price of assets, starting with interest rates and then expanding to other assets…
Misdistribution of Wealth: With increased moral hazard comes the mis-distribution of wealth, favouring only one particular class lately it has been those who own financial assets.
Volatility & Fragile system : Next on the ladder is increased volatility in the system. With a system leveraged at historic highs, we fear that the next cyclical risk will become systemic. The butterfly effect of a normal business cycle correction could unfold a huge avalanche of ripple efects and become a serious threat to the entire system.
Today, there’s not many tools left, and unfortunately we can only expect more of the same from central banks creating more moral hazards and more problems than solutions with every trial.
The Taxonomy of Money
What is AgAu? — In the periodic table:
- Ag stands for silver
- Au stands for gold
In the Wealth of Nations by Adam Smith money is defined as a medium of exchange, store of value and unit of account. In this sense, Fiat money has failed in achieving the store of value mostly because it has little to no intrinsic value. We should also take into account the effect of inflation and geographical differences. AgAu is reinventing the system to create a true alternative to fiat and a sound system without fractional reserve. TARCO International is releasing a report soon about the taxonomy of money explaining this (subscribe to the newsletter on AgAu.io)
Gold has been considered money for thousands of years. It is the only element that is immutable through time (“before being immutable was cool”). A gold standard system is anti-fragile, meaning that the more it is tested, the more we go back to it and in the great scheme of history the stresstesting makes it more robust.
I also mentioned the fact that Bitcoin and other fiat cryptos are not “technologically resistant”, meaning that as technology changes with time, and it is expected that in the next coming years, technology will change and this may mean that many cryptocurrencies will be outdated.
Use Cases for AgAu
- Emerging Economies
- Banking the banked in emerging markets
- Transparent pricing
- Offer a stable-token to stabilise the crypto portfolios
Achieving a Decentralised Organic Consensus (DOC)
The Decentralised Organic Consensus idea, has the objective to create a consensus that emulates nature.
Meritocracy.ngo — First phase: Digitalising the Swiss Democratic System
In order to go towards that, the following needs to be done:
Responsibility: Taking responsibility back from the government and give it back to the people.
Accountability: People and society need to take responsibility for their decisions because ultimately they will be the ones reaping the benefits or suffer the losses and learn in the process.
Transparency: The decentralised Organic Consensus should absolutely transparent in order for everyone to be able to improve it.
What Meritocracy.ngo Intends To Achieve
Meritocracy.ngo intends to digitalise the direct democratic system of Switzerland to start with.
The present setting in most countries gives the government complete control over legislative power making the citizens bound to whatever parliament or policy makers decide under the disguise of “representative democracy” which is indirect democracy, not real democracy.
In Switzerland however there is direct democracy. Direct democracy allows accountability and progress by trial and error. The first step for meritocracy.ngo is to digitalise this existing system and improve it with DLT/Blockchain technology. The general goal is to achieve an Idea-meritocracy in a system where the best ideas win. Perhaps before starting, certain principles need to be defined, for example:
Voluntarysm: The idea that freewill and voluntary association should be respected in accordance to the non-aggression principle.
Anti-populism: Require that the cost of every proposal needs to be included at the state level, cantonal level and tax payer level. This alone will avoid a lot of populist ideas to come to fruition.
The cost of every proposal needs to be included at the state level, cantonal level and tax payer level.
Thierry concluded by saying that perhaps this includes the realisation that we are an evolutionary race, that nothing is static and that we know nothing at all about anything we think we know. So hopefully we will get to build a system flexible enough to evolve in a positive way all while updating society’s pillars and fundamental principles
“We shall stand on principle or we shall not stand at all”
Check out our other article on the subject:
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