A ticket for the tube in London is paid with Sterling Pound. Several institutions are at work to keep Sterling Pound stable. We are used to a Sterling Pound with very low volatility. It makes the Sterling Pound and all other FIAT currencies workable. We can use FIAT currencies to exchange good and services.
Space for compute and storage capacity on the threefold grid is paid in Threefold tokens. Threefold tokens are backed by compute and storage capacity: every time a farmer connects/disconnects hardware on/to the grid, threefold tokens are created/destroyed.
Threefold token is a stable coin that will be used to exchange value. Threefold tokens are – by design – created in another way than FIAT currencies and will enforce the total ecology of money systems.
Threefold token is a stable coin thanks to the way it launches the services that will get paid with it. Financial risks for innovation and expansion are reduced. Proven technology gets introduced in a business model underpinned by the threefold token.
The introduction of Threefold grid won’t need a big bang operation. Every community that is in need for compute and storage capacity is able to use or organize a Threefold Coop. Building up a Tube with such organizing model won’t be possible – scaleability was about vertical integration of businesses and mechanistic top down coordination.
The Tube is a typical infrastructure of the industrial age. Fiat money is used to get acces to it. Complementary money systems will be used to get access to the core infrastructure for the digital age.
This Tuesday Post is part of a special series – the World’s First Metro System as a role model.