Redefining Digital Currency for Economic Fairness with Philip Rosedale
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Redefining Digital Currency for Economic Fairness with Philip Rosedale
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In this podcast, Philip Rosedale, a digital economy pioneer, discusses the concept of "FairShare." It originates from his work on Second Life, where he developed a digital currency for trading within the virtual world. Unlike traditional cryptocurrencies, FairShare prioritizes stability over value appreciation.
Rosedale addresses economic inequality in current systems, emphasizing how free markets often amplify it. FairShare aims to combat this by adjusting money supply and ensuring equal redistribution. It encourages money recirculation, striving for a fairer economic environment, both externally (evaluating wealth relative to contributions) and democratically (allowing users to reset the system).
FairShare's decentralization is crucial to prevent manipulation by intermediaries. It relies on transaction fees to fund its basic income, ensuring economic fairness without external support.
Overall, FairShare is a response to growing economic inequality, offering a mechanism for fairer digital-age economic systems.
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