My global currency experiment – a case study in trying to change the world.

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Ever since I could remember I felt a bit out of place on this planet, much more-so in my adult life. As a software engineer, my life moved at a somber pace, making me feel quite purposeless at times. Perhaps it is the 1/8th métis blood in me that feels the need to fight for justice. My journey starts at the precipice of the first bitcoin bubble in early 2014. I had been following this cryptocurrency for a while, even owned a few when they were available at 50 cents. For me, Bitcoin was the beginning of change.

Something had always felt off about Bitcoin though. As a currency it hadn’t taken off and as an experiment it was slowly meandering toward being a speculative digital asset. I’m not sure about what plan Satoshi Nakamoto had in mind when he created Bitcoin, but it wasn’t looking good. The price of bitcoin was reaching new highs, but this was part of the problem. It had completely skipped the 99% and took off to pursue new highs with rich speculators from wall street and a bunch of crypto nerds. Bluntly put, I strongly believe that a currency without the inclusion of the 99% is doomed to failure, because the 99% is the lifeblood of our world.

After considerable thought, I opted to create a cryptocurrency of my own called Faircoin. This new currency was to have 50 million coins, for those of you who understand how a company is structured, these coins are similar to shares of a company. I gave myself 250,000 coins and I held an airdrop from March 6th to the 8th to anonymously distribute the rest (49,750,000 coins) all over the world.AAEAAQAAAAAAAAofAAAAJGFiY2NlN2MyLWE1OWEtNGFjNC1hMTc2LTEzNTc1ZDQwZjNiMw.png

Phase 1 (Complete): Disperse the coins all over this great petri dish

I really wanted to have a fair launch, where the coins were dispersed globally, to try and touch as many continents as possible. I was hoping to have it spark with a seed of life everywhere it touched. As you can see, it wasn’t off to a good start, a good chunk of it was claimed by China. But since this was simply the beginning, I decided to wait.

Phase 2 (Complete): Sit and wait to see how this organism takes shape

It was an uneventful few months following the distribution. Just when I was ready to label this experiment another failure, a Spanish activist named Enric Duran took a liking to the coin and decided to make it the official currency of his Spanish cooperative (The CIC).

Remember back when China had the upper hand in claiming so many faircoins? Well, it was Europe’s turn to shine! Since Enric was living somewhere within the Spain area, Faircoin started growing there and slowly started making its way into Greece.

Phase 3 (In progress): Achieve price stability

This is the phase the movement is currently in. In order to avoid having this turnout to be just another speculative digital asset, the goal with faircoin is to become a global digital currency. In order to be a digital currency, Faircoin will need to have some stability in its value. Going up high to only fall back down harder isn’t a good way to build trust with the masses.

Where we are today

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Fast forward to today, we are a strong grassroots movement with over 15000 users globally, ATM machines in Spain, Poland, Greece and Mexico and has a strong list of advisors helping the cause.

Strong cooperative values

This currency has strong cooperative roots thanks to Enric and the Faircoop. The Faircoop which meets on telegram, accepts any member whose values align with the movement. To basically be a good person who has a penchant for cooperative values instead of greed. Strong cooperation is important, especially amongst the early investors and companies that are part of the movement. No goal is too big to achieve when you have strong cooperation.

Is there an end goal?

The seeds of faircoin have been planted and is slowly spreading in places that desperately need a global currency. I’m not sure what my original goal was to be honest. Maybe it was to unite the world, destroy banks… or perhaps I was just tired of the BS and wanted to shake things up. Regardless of what that goal might have been, Faircoin has become an emerging force designed to bring equality to crypto currency and has a real shot at success. I invite you to join the experiment and learn first hand why it matters.

Best wishes,

Jake

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