There has never been a better time for digital and traditional marketplaces to intertwine and provide users with seamless integration at low costs.
One of the main issues with existing marketplaces and their accompanying services today, both in the digital and traditional realms, is that they are highly centralized and interdependent. If one falls, they all fall like dominoes.
Centralized marketplaces have the characteristic of being highly controllable by a restricted group of individuals, and that gives the group all the means to directly impact the outcomes, and implicitly the lives of the centralized marketplace’s users. The group can and will freely claim the power to abusively extend or retract the rights of users, at will. It’s the group’s marketplace, after all.
Take for example social networks, delivery apps, streaming platforms, or payment processors. All current Web 2.0 solutions have an executive leadership team that controls the platform’s operations and a board of directors that controls and defines high level strategy and financials. All of the platform’s customers will have to give away their freedom to define how the product is served and how it impacts their lives. You’ll simply submit to whatever the leadership team decides.
Moreover, if you express your freedom in ways that the platform’s team, at their sole discretion and at times on a whim, decides is not in their best interest or according to their views of how the world should work, they’ll simply shadow ban you or outright disable your access to their services, and implicitly to the world.
It’s no secret anymore that Web 2.0 platforms have repeatedly failed to adapt to their users’ needs and instead imposed ways of doing things, while at the same time they failed to police themselves when things got out of spin. When it comes to imposing rules on their users Web 2.0 marketplaces act as if they were some sort of a public authority, but when it comes to fixing general issues or setting constructive boundaries they seem untouchable and act unilaterally. As a rule of thumb, all private Web 2.0 marketplaces are nothing but companies looking for profit – their own profit. Why do they act as regulatory bodies, then?
The answer is simple – because they can. Because of the word “private” as in “private company”, as in “private property”. Because private property is first and foremost their property, not yours. Even in the world of so called “publicly traded companies” you’re still just a user. Even as a stockholder you often have shared ownership rights, not governance rights. And that’s what the e-EUR ecosystem is about to change, for the betterment of all products and services built on top of it.
One common misconception about decentralized governance is that such a system must necessarily have a flat hierarchy that could fall victim to uncontrolled bias and anarchy. That only holds true for systems specifically designed with flat hierarchies in mind. But decentralized governance is an umbrella term for distributed systems with no single point of failure because decision making is not highly centralized and members of the network have their say. Some projects have implemented higher layers of advisory boards whose decisions weigh more than an average user’s decision, while others have implemented holacratic models, in order to counter uncontrolled outcomes of decentralized governance. e-EUR is going to provide a synergy between previous decentralized models and truly democratic voting systems.
Such a feat is going to be achieved via the Weighted Seigniorage Paradigm’s mechanics. Through this unique system, applied both at the decentralized governance layer and at the monetary economics layer, every user of the decentralized e-EUR network can have their say and earn their keep while not being able to shift the power balance too much in their favor without the others automatically gaining a small advantage in this process, so everybody wins.
This is by no means a system intended to limit freedom of expression or freedom of earning and eventually becoming rich, if you’re really that good. It actually enhances your chances every time an e-EUR user transacts through the system. At the same time, it’s not one of those immature crypto protocols where a standard percentage is burned off with every transaction. This one is a double impact system to help stave off instability.
Imagine going into a store or buying something from the internet and if the price of a product or service is too high, you’ll be sure that even though the vendor will make a profit, your purchasing power will also increase consequentially. This will even out inequities that inherently come with traditional finance based on free forming capitalist trends where one can amass an improper amount of revenue, and implicitly power, at the expense of all other participants.
Everyone and everything can benefit from this – lending and remittances, shopping, real estate, pharmaceuticals, industry 4.0, gaming, streaming, public transport, private investments, you name it. All because e-EUR is meant to be over-collateralized in relation to other currencies as time progresses and it disincentivizes pump & dump schemes or sudden bank runs, automatically.
The e-EUR governance tokens called e-EURG will be rolled out in batches, so make sure to subscribe to the e-EUR newsletter on this website, in order to catch the new wave and be the first to know about this.