Free currency is a concept that has emerged to address the problems of the monetary systems used to date:
The currency is created permanently in the euro zone , which is used every day. How is this currency created? How much is in circulation? How fast is it increasing? Who has access to this creation? What does this increase represent in relation to the total amount of money in circulation?
In 1998, there were 4.3 billion euros in circulation, 20 years later almost 12 billion euros.
Why settle for using a single currency whose rules we have not chosen, over which we have no control: neither its creation nor its distribution? Access to this created currency takes the form of a fight between individuals. Why can't we estimate, produce and exchange values in another repository?
We propose a currency that allows reviewing access to creation: the Free Currency .
The idea was born in the mind of Stéphane Laborde, a French engineer who studied monetary mechanisms to establish mathematical relationships. The term "Free Currency" was first used in 2010 by Stéphane Laborde to describe the only solution to the following problem: How can we make every individual, no matter where or when he or she is born, equal to everyone else when it comes to currency creation?
Therefore, free money is first and foremost a mathematical discovery.
After much research and writing on the subject, he produced a lengthy paper which he titled the Relative Theory of Currency (Théorie Relative de la Monnaie - often shortened to TRM). Stéphane Laborde mathematically demonstrates the conditions that must be met in order to obtain a fair currency.
The TRM refutes the idea that private banks are legitimate in deciding what the value is and allocating money creation accordingly.
This theory proposes a generalization of the principle of monetary creation and shows the asymmetries typical of the monetary systems that, at present, are imposed by the authorities or the markets. Through this document, Stéphane establishes the bases of what could be a currency that he will qualify as "free" according to criteria inspired by the fundamental freedoms of free software.
4 economic freedoms:
- Freedom 0: The individual is free to choose his monetary system.
- Freedom 1: The individual is free to use resources without harming others.
- Freedom 2: The individual is free to produce any value.
- Freedom 3: The individual is free to change "in currency".
(Each freedom is conceived to end where the same freedom of others begins)
It shows that a currency can only be free if each individual is a co-producer of the currency, in equal parts, through a Universal Dividend (DU).
The Universal Dividend is calculated according to this formula:
DU = c * Money supply / number of users. c = ln(ev)/ev ≈ 10% (per year) (ev = life expectancy)
The TRM proposes life expectancy as an invariant among humans. Statistically, it is. Thus calibrates the DU and the cast iron in this invariant.
You can see the effects of a different DU value in these graphs .
Before launching Ğ1, we had spent a lot of time educating people, telling them about the general concept of a free coin.
There has been an outreach from universal income earners, diverse citizens, economists, activists, social currency users, and enthusiasts from the free software community.
There were several experiments:
From this work, extremely motivated programmers developed Duniter, a free P2P program or software that works in a similar way to Bitcoin (blockchain, proof of work, etc.) but designed to ensure in the safest way possible the creation and maintenance of a free currency.
On March 8, 2017, the first free currency experimentation in the history of mankind was born.
59 initial members, united by 551 certifications, produced the first 590.00 Ğ1. The 6-member computers calculated the transactions and recorded them in blocks.
His name is written "Ğ1". The pronunciation is not yet established.
In French it is pronounced /ʒyn/.
Since then, the communities that use and promote this currency have continued to grow and organize themselves, carrying out alternative, credible, free, complementary, monetary, economic, technical, digital, social, human, collective and philosophical experimentation. This contrasts with the current monetary model, which is, by its very nature, unequal.
Every day, more and more people:
It should be noted that the Ğ1 is currently unique in the world and that its principle breaks radically with the usual coins. This is not another obscure cryptocurrency for hyper-specialized applications or a speculative coin to build castles in the air, but a serious and equitable long-term economic alternative that is currently passing the test of reality, of practice.... and he's doing pretty well!
You can do with Ğ1 the same type of exchanges as with the euro, but without favoring the few people who have the right to create money.
A little everywhere in France (and soon in your area), human beings are already exchanging:
Deals are made on websites and local markets.
It varies a lot depending on where you are.
For example, the Ğ1 economy is currently more dynamic in Occitanie than in the rest of France.