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Sphere

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  • Mielberg, Egger L.

Abstract

A decentralization of electronic currency would allow business activity and development of a single network to be independent of other different business networks. Cost of a decentralized currency of the network can become stable as long as participants of that network are still active. We propose a solution for such a big problem of traditional economy as a “direct dependency of local prices on global ones”. We also propose an innovative mechanism that allows participants of NCN to get any service of one business network for money (hours) earned in other network (‘s). The currency is implemented by usage of two innovative technologies, “Proof of Participation protocol” (PoP) [3] and “Smart Transactions” [2].

Suggested Citation

  • Mielberg, Egger L., 2018. "Sphere," OSF Preprints fg8r2, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:fg8r2
    DOI: 10.31219/osf.io/fg8r2
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    References listed on IDEAS

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    1. Peters, Gareth W. & Panayi, Efstathios & Chapelley, Ariane, 2015. "Trends in cryptocurrencies and blockchain technologies: a monetary theory and regulation perspective," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 92-113.
    2. Michael D. Bordo & Andrew T. Levin, 2017. "Central Bank Digital Currency and the Future of Monetary Policy," NBER Working Papers 23711, National Bureau of Economic Research, Inc.
    3. Dong He & Karl F Habermeier & Ross B Leckow & Vikram Haksar & Yasmin Almeida & Mikari Kashima & Nadim Kyriakos-Saad & Hiroko Oura & Tahsin Saadi Sedik & Natalia Stetsenko & Concha Verdugo Yepes, 2016. "Virtual Currencies and Beyond; Initial Considerations," IMF Staff Discussion Notes 16/3, International Monetary Fund.
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