The Social Activism Token
The Social Activism Token
Social Activism and Cryptocurrencies
I am writing the idea of the following concept on Steemit because firstly, I want it to be on a blockchain, and secondly, I hope that it will reach the eyes of like-minded people here.
The Beginning
On the 31st of October 2008 bitcoin came into existence as an idea. The aim of bitcoin was to create a system for electronic transactions without relying on trust. It was a revolutionary idea which attempts to get rid of the power of institutions, such as banks, in the financial world today. It attempted to decentralise the power that these institutions hold.Since the creation of bitcoin various types of cryptocurrencies have emerged. Bitcoin uses proof-of-work (POF) to function. It's value stems from the CPU power required to mine the coin. Ethereum, the second best well known currencies, is planning to switch from POF to proof-of-stake (POS). The concept of POS is basically that new coins are distributed at chance to users and the chance is dependent on the wealth of the user (that's where the stake comes from). Other proofs also exist, for example proof-of-importance (POI), which is used by the crypto NEM (XEM). In POI, a user needs to have a high enough wealth value in the community to be able to form a block. As can be seen, several different types of proofs already exist, but all are based on the commitment of the user towards the currency (point 1).
The Newer Cryptocurrencies
A large number of cryptocurrencies are being introduced nowadays. All of them promise to be better in some way than the rest. This can range from faster transactions to only CPU mining to more security and so on. In the end, many of the coins being created are simply ways for the creators of the coins, who usually pre-mine a large section of the coins, to become rich. Most of the coins do not bring in much social value to society (point 2). They are just copies of bitcoin, litecoin or ethereum. Now, I was a strong promoter of bitcoin, still am a strong promoter of cryptocurrencies with value and see myself as a blockchain evangelist. But the amount of coins being created right now is not a reflection of a social society, but one seeking to make money. Bitcoin has succeeded only half way. It is true that the power is leaving the financial institutions. However, bitcoin itself is slowly reverting into a centralised cryptocurrency where the power lies in the hands of the miners who can be considered as the new financial institutions. Many cryptocurrencies are simply using the blockchain to try and replace fiat currency, not attempting to revolutionise society. This is flawed. I believe there needs to be a change. I believe that new cryptocurrencies should not be created for the want of money, but for the rewarding and recognition of creating a better society. Thus, I introduce the Social Activism Token (SAT).The Concept of the Social Activism Token
What will follow here is not a fully thought-out idea of a future token, but an attempt at a discussion of the potentials of such a token. In the text I singled out two points which I believe create the core of the concept of the SAT. The first point is that the value of the current cryptocurrencies is based on the commitment towards the currency. The second point is that most cryptocurrencies do not bring much social value into society. The SAT should reverse this trend that cryptocurrencies are following. The SAT should reward members with the token not due to their commitment to the token, but their commitment towards social activism. The very basic concept of SAT as I envision it is as follows:- Members can earn tokens as a reward for carrying out social activism.
a. The social activism will be validated by the society itself.
b. The value of this activism will be chosen by the society.
The aim is not to create a currency with a monetary value, but a system which rewards members for their value to society and gives them recognition for what they have contributed. This recognition could be used to market the individual themselves or the social activism project they are working/have worked on/towards. It attempts to use the blockchain to make life better for people.