https://twitter.com/WorldDollar/status/505713638515429376#WorldDollar market cap soars way beyond #Bitcoin, now stands at $35 bn. 10,000 WLD = 0.01 BTC = 5.04 USD. RT. pic.twitter.com/ugQA3Ip09A
From:
http://www.world-dollar.com/what-is-world-dollar/ 1. What is World Dollar?
World Dollar is the future of money. The key principle World Dollar is based on is the Equal Opportunity Standard. This represents the idea that, as money is nothing but a social convention, the ultimate basis for money is for it to be issued to everyone, equally. For this reason, every person is eligible to receive 10,000 World dollars once. You can claim your World dollars now.
World Dollar is set to replace our current debt-based monetary system, which is debunkedhere. Further economic myths propagated by mainstream economists are debunked here.
2. Who is behind World Dollar?
The founders of the World Dollar Foundation came up with the World Dollar concept. TheWorld Dollar Foundation is a non-profit organisation chiefly responsible for raising public awareness about World Dollar. Meanwhile, the World Dollar Network is responsible for running the monetary system, facilitating the issue and exchange of World dollars. The World Dollar Network is made up of private companies, competing with one another in order to maximise the quality and minimise the cost of services rendered.
The identities of World Dollar Foundation members will be made public in due course, however, it is hoped that the focus of discussion will remain firmly on the World Dollar concept itself.
3. How is Money a Social Convention?
Money is a social convention in the sense that it is not valuable in itself, but valuable because people agree to take it as valuable. It is a medium of exchange, a tool that allows us to trade with one another without having to resort to barter, which inefficiently depends on the double coincidence of wants.
4. Why is Equal Opportunity the ultimate basis for issuing money?
"We hold these truths to be self-evident, that all men are created equal".
The equal treatment of all people in the world means there are absolutely no artificial barriers or prejudices or preferences.
Money, being a social convention, is guaranteed acceptance by (virtually) the entire human race by adopting the Equal Opportunity Standard.
5. The Problem With Profiting From Money Production
First, it should be understood that the quantity of money and associated price level makes no difference to the functioning of the market economy. It is a myth that a growing economy needs a growing supply of money. Any changes in the demand for money can be met by changes in its price (i.e. purchasing power), meaning any additional supply of money is in itself totally unnecessary.
The problem with profiting from money production, then, is that the money producer necessarily benefits at the expense of the rest of society. The production of money is not really a valuable service in itself, making it somewhat perverse that it should be so lucrative. This is contradictory to what is usually the case in the market economy, wherein one profits from offering valuable goods and services.
This is not to say that it is impossible for money with profiting money producers to be valuable, particularly if the fair "process" of the free market is involved, meaning no-one is artificially blocked from producing the money. It is just to say that it may struggle to compete with the level of social acceptance that comes with absolute equal treatment, meaning no-one is left feeling with a sense of injustice (from "losing out" to the money producer).
