Boscoin (BOS)

What is Boscoin

We need a system to solve the distribution problem, and the current crypto economy is the closest thing to a workable alternative. However, the Dapp-ICO strategy of the current crypto economy is likely to produce fragmented credit generation systems that may not solve the capitalist problem the BOS team intends to solve.

Public Financing. In order to solve the problem of fragmented credit creation systems by the DappICO strategy, we propose Public Financing (PF). PF is a way for individuals who use and trade real credit to make collective decisions to create credit.

Rather than be dictated by a central bank or government, the community creates its own credit. Unlike other crypto platforms, BOScoin can offer PF because it has a governance system called the Congress Network. In capitalism, the institutionalized financial system holds most capital and most decision-making powers; most members of the system obediently follow the decisions made by others. It is also difficult to withdraw from the system.

On the other hand, many cryptocurrencies, including BOScoin, are community currencies. If a currency does not reflect the voices of its members, the community will wither and die. A cryptocurrency can grow into a community money if justified by community consensus. Thus, a cryptocurrency should be able to offer a governance structure which reflects a majority of community.

To solve this problem, we are implementing a system of one person, one vote. The system of one person/ one vote may not be the best method to the problem of plutocracy but the most appropriate governance system for the time being. However, it is impossible to introduce the one person, one vote principle without requiring identification — this in turn jeopardizes privacy and freedom of expression. This goes against the general ethos of the blockchain.