Author: Melvin Carvalho 2013-06-12 17:46:13
Published on: 2013-06-12T17:46:13+00:00
Melvin Carvalho discusses the potential social good that can be achieved by combining crypto currencies with a "pay it forward approach". He acknowledges that while crypto currencies have yet to make a meaningful impact on any economy or achieve much in the way of social good, there is excitement about how they can modernize the way we live our lives. Carvalho proposes that new money be distributed to the people who need it most on a relatively uniform basis, and suggests various strategies for achieving this. One such strategy involves beaming coins to every mobile phone, which he views as now being banks that can send money via SMS. The author also suggests the idea of allocating coins on a lottery basis to reduce the risk of systemic gaming. He encourages coin recipients to "pay it forward" by doing good for the sake of good, creating an ever increasing virtuous circle that can transform the planet.
Updated on: 2023-06-06T18:51:10.172680+00:00