Cryptocurrencies as social enterprise

[stalksnu]

I know very little about cryptocurrencies, so I’m seeking feedback on the viability of an idea I’ve been thinking over. (as a 'transition currency' to a gift economy)

What if we created a currency, which enables traditionally unpaid work to be reimbursed? For example, businesses in the start up phase, freelancers with portfolios, community volunteers etc. The idea is to legitimise contributions to society which fall outside the employment paradigm, and enable the un-and-underemployed to decrease their dependence on both the state and employers for financial security.

People would upload an online portfolio of any project/s they would like to be reimbursed for, but I’m still not sure how you would calculate the monetary worth of each project, independent from measures of market value. (Fairest option might be to pay everyone the same “wage” with flexible conditions..?) It might be tricky to convince people of the ‘trust’ aspect though - "how do you trust that people will show evidence of original projects", "what evidence needs to be screened in order for people to be reimbursed”.. etc. The detail is harder for me to work out. Are there any working currencies out there with a similar focus?

I think if the logical loopholes and technical logistics can be worked out, the only obstacle is convincing other businesses to get on board and accept the currency as a medium of trade. I'm thinking of something a different to bitcoin and reddcoin, where conversion rates don't apply. It would be a completely independent monetary system, which is communal-based - similar to time banking, where targeting a niche market will hopefully give the currency value. I’m no economics guru, so I really have no idea if this is worth investigating in my own area. Thoughts?

[Anglo-Saxon Philistine]

What you seem to be asking us is whether we think capitalism (since you talk about employers, start-up businesses, freelancers etc.) can gradually lead into a society of free access. Well, no, that's why we are revolutionary socialists and stand for the overthrow of capitalism.

Socialism is not "social enterprise", but the socialisation of the means of production - and an end to enterprise, for that matter.

[tuwix]

I know very little about cryptocurrencies, so I’m seeking feedback on the viability of an idea I’ve been thinking over. (as a 'transition currency' to a gift economy)

What if we created a currency, which enables traditionally unpaid work to be reimbursed? For example, businesses in the start up phase, freelancers with portfolios, community volunteers etc. The idea is to legitimise contributions to society which fall outside the employment paradigm, and enable the un-and-underemployed to decrease their dependence on both the state and employers for financial security.

People would upload an online portfolio of any project/s they would like to be reimbursed for, but I’m still not sure how you would calculate the monetary worth of each project, independent from measures of market value. (Fairest option might be to pay everyone the same “wage” with flexible conditions..?) It might be tricky to convince people of the ‘trust’ aspect though - "how do you trust that people will show evidence of original projects", "what evidence needs to be screened in order for people to be reimbursed”.. etc. The detail is harder for me to work out. Are there any working currencies out there with a similar focus?

I think if the logical loopholes and technical logistics can be worked out, the only obstacle is convincing other businesses to get on board and accept the currency as a medium of trade. I'm thinking of something a different to bitcoin and reddcoin, where conversion rates don't apply. It would be a completely independent monetary system, which is communal-based - similar to time banking, where targeting a niche market will hopefully give the currency value. I’m no economics guru, so I really have no idea if this is worth investigating in my own area. Thoughts?

Cryptocurriencies are just another money. They have slightly different features but they're still money. Certainly there are connected to them right-wing libertarian movement who are opposed to corporation and all dispersed property. The movement advocating self-employment, etc. But they love capitalism. And their impossible to exist by definitions free-market has nothing to do with socialism. Socialism is about abolishing an exploitation and further about abolition of money. If there is exploitation, there is no socialism at all...