Project Magic Dragon
In this post I want to paint the essence of what Project magic Dragon is about into the bigger picture of economic disparity and the basic economic flaws it seeks to address, as well as the tech landscape within which it can operate.
In Essence
Sociologically speaking
There is this old saying about rather teaching someone in need to fish than giving them free food.
In that sense PMD provides the tackle and free bait enabling everyone capable of doing so to take care of themselves.
Economically speaking
It is said that money is the oil that speeds up bartering and makes it easier to trade over greater distances.
PMD is about providing free oil in the form of free tokens, together with a free means of transacting over distance and a free incorruptible bookkeeping system in the form of an exchange on an open ledger internet connected system.
As a bonus, making use of the multilayered functions offered by miracles like Etherium, Steem and Eos, it is possible to have PMD being a complete open market providing facilities like advertising, trading, invoicing and bookkeeping, all available on any of those beautifully engineered systems.
Furthermore
It so happens that by the choice of 'bait' and the type of 'tackle' offered by PMD, it also addresses two basic flaws in the current ecomomic scenario, namely the innate instability of currency value and the very corruptible means by which currency is fed top down into the economy. But more about that in later posts.
Please note - PMD is seen as financially running in its own closed enviroment, in the sense that it's monetary token can only be traded on it's own exchage, thereby isolating it from speculative sentiments in the open market - a point to keep in mind when considering the stability of it's value.
Please also have look at the Community Exchange System for examples of a similarly isolated community exchanges that have very successfully been trading goods and services for many years, though not with everything PMD has in mind.
Technologically speaking
Efficiency in handling massive numbers of trades is the most important criterium by which to make a choice of on which system of infrastructure ('blockchain') to run a project like PMD.
We are all aware of the sad fate of Bitcoin at this stage of the game in that, because of the competitive Proof of Work (PoW) means of procreation and bookkeeping with which it intrinsically functions, running it consumes massive amounts of energy, consumes more and more time to process blocks the older the system gets, and correspondingly makes it more and more expensive to use.
Etherium, the first blockchain I am aware of to provide the necessary means to do all that PMD requires, is, even more sadly, at this point in time suffering the same maladies as Bitcoin, because of the PoW part of its inner workings inherited from Bitcoin.
And then along came Steem, just doing everything quicker and more efficiently, and it's follow-up named Eos, out of the same stable, led by the the same venerable you know who(!), which leads us to believe it will work even better.
Community involvement
And this is where community interaction come into play concerning the possible implementation of PMD.
PMD is here offered as a possible community project, with members of the Steemian society forming a team to do just that - implement a healthier and more fair means of trade with all the side benefits mentioned.
PMD is just an idea, offered here by me to you to consider its viability. It is an idea with, as far as I can see, huge potential in resolving a number of social and ecomomic problems in a way that furthers possible achievement of our shared dreams of freedom from tyrrany, relief from the flaws inherent in the debt based monetary system we currently are forced to suffer and of freely having the means at our disposal by which each of us can be enabled earn a fair living, while having those incapable of being productive are taken care of by the same mechanism.
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Sounds too wonderful to be true?
You decide!
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I will explain the concepts involved one by one and how everything fits together as understandably as I can in coming posts.
I am not in it for any money to be made. In fact, if this project, or something similar delivering the same results, can be made to work, I will gladly step aside and let an inspired younger brigade run with it!
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Some of the points to ponder
(not in any specific order)
- Why overstep a golden rule and use energy as parity?
- Unspoken consensus about the values of currencies and how that applies here
- Why feed purchasing power in at the bottom? Why free money?
- How the PMD currency differs from other altcoins
- Immunity from market sentiment
- Taking care of the unproductive sector and sponsoring entrepreneurs by the same mechanism
- Will PMD be a game changer?
- Can PMD co-exist with other means of trade?
- What are the social benefits?
- What are the economic benefits?
- How PMD fits in with a robotic future
- How much boodle every week?
- Calculating the parameters - squaring PMD with existing global figures
- Security concerns and measures
- About launching this project
- A development team
- Funding development of this project
- How PMD can sponsor its hardware and Witnesses
- Limiting the volume of tokens in circulation - how and why
- Why limit the lifespan of the project?
- Why the cycles? Are there other ways of limiting the volume of tokens?
- How promotion of PMD can be rewarded
- Must we start it up and trow away the keys?
- The fascinating synergy of PMD's parts
- Why a female dragon?!
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Is this just an idealist vision, or can we make this project, or something similar, work to benefit us all?
It all depends on cooperation and support in refining the idea till it becomes a launchable product!
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by the way..
Playful token pic: touch pad finger paint, YT!