My proposal is to expand the “Mint” tab and give it possibility to create Private Personal Tokens (PPT).
All of the people are worth something.
We are helping each other, some of us produce stuff or provide services.
We are buying and selling things.
How about providing services or selling goods available only for your tokens? The tokens would have to be purchased to allow you to participate in the trading.
How about rewarding someone with your PPT? There is for sure many of usecases for such tokens.
Governments rob us of our money by printing and inflation as the result.
Let’s create our own parallel currency. But not via centralised entity/unit who would mint and distribute to participants. Rather like grassroot initiative. All participants registered on incognito.org could have a possibility to mint an amount limited to e.g. 3 000 000,00 tokens. Distribution modell is an open question (one time minting or similar to the bitcoin model or…something else…)
Today we can mint privacy coins “in the app”.
But to create our own PPT we need a template with an partly unified name, ticker, fixed supply (3 000 000,00) and so on.
This is essential that no one could mint more Tokens than others or mint them from an additional account. Only use cases could affect the value of the Token.
We could additionally reward those who were most creative in finding use cases for these tokens until they were more or less comon.
Idea of PPT minting template:
Name
Ticker (PPT++)
Total supply - FIXED
Description (in description we could have a SHA-256 hash of some unique data of the creator)
Creator
Website (i suggest site builded on my domain at “unstoppable domains” personeo.crypto or personeo.zil…or some else)
Email address
Switch for displaying of incognito address
Coin icon ( i suggest own pattern with PPT ticker )
Will there be any developer who could help me to create such template?
Is this a good enough idea to be implemented?
Thanks on advance for any help or input :-)…
Creating av Personal Tokens...
I am a little clueless on what the difference is between what you suggest and what we have available already. Could you clarify that in one sentence?
Sure…
“Personal tokens” must be comparable, therefore most of the features must be the same [fixed supply, unified first part of the ticker, inability to print additional tokens, the token is to be directly related to your own person (personal token) and not, for example, to be a “copy” of some other token or cryptocurrency].
I am sorry that I could not express it more clearly. My english is not the best…
Why do they have to be comparable? Personal tokens, can cover a wide range of different projects, what value would there be in making them comparable.
I have a token that is related to activities on the whaleshares.io platform. What would my token have in common with a token that is used for loyalty programs for shops, or the token someone created to be used for some lunch program.
Are you referring to the scenario where you want to trade one for the other?
Sorry for the questions, I am just trying to understand.
Thanks for your questions, Jamie.
If I couldn’t answer the questions, what would be my idea worth :-)?
Sometimes it may happen that when we explaine something to someone, we will understand it better …
My first thought was that the personal token should be our personal currency. Like as EURO coins from different countries but with the same nominal value.
Now let’s think about barter. Not always exchanging our eggs for someone else’s broccoli, we need these broccoli at the same time. In order not to have to remember the details of trading, we can express this value in tokens. As soon as we run out of broccoli, we will exchange received tokens for broccoli (we use tokens as cash). You are asking why not to use existing cryptocurrencies for this? Because we would have to acquire them first. And as we do not have to buy our own value because we already have it, we do not have to buy PPT because we will mint it (but only once and in a limited amount). When I wrote about affecting the coin value, I was referring to the zero-one approach. A token would be worth something if it represented some kind of benefit. If we only passively printed them, then they would have no value. Maybe minting of tokens would take place in batches depending on the degree of use of previous tokens?
I wasn’t asking why not use cryptocurrencies already out there,
We already have the system setup so you can mint your own coin, on the Incognito chain. I am asking what is wrong with that system that makes you want to create a new one? Did you try to create your own coin already?
I have created my own tokens more than once. But I don’t mean such tokens or coins. The current minting system is not wrong. It is simply not suitable for creating the tokens I mean. Why are we no longer using salt or seashells as currency? Because at some point it became obvious that they are not unique. Just like coins that can be mint in the current Incognito system. I am looking for a subsystem in Incognito minting system where everyone could mint their personal token only once. Only once and in limited quantity. If we create a community whose members will have tokens of the same type (differing only in a small detail - partly marked with their own ticker) in a limited amount, then at some point we will be able to use them as a parallel currency. There must be a system of minting personal tokens that even developers would not be able to hack. I do not want a system in which someone would print tokens to all users and then distribute them because this method does not work and is usually not transparent and fair.
Thanks, that made the whole scenario a lot clearer. Not sure it is possible already, and not even sure it would work, but it is a use case worth brainstorming about.
Thank you Jamie. I’m glad you agree that my idea has potential. I hope an interesting discussion and development will start.
Hey guys!
I think I caught the idea.
- Basically @Yoikoto want’s to create a news token standard PPT. This standard defines a rule which parameters the PPT tokens should have (supply, name, etc)
- Than Yoikoto identifies possible the use-cases for the standard. Let say if all people on the planet have a personal token with a fixed supply.
- Firstly, it will show that all people are equal
- Secondly, you could measure the value exchanged between people. Let say if Bob did a favor for Alise, she gives him Alise PPT the amount which shows a value of the favor, and so on
- During the time you could collect these value or rebalance it back with friends
I was always wondering if there is a way to measure of value my friends bring in my life. Probably the PPT could be a way to do it.
@Yoikoto, I think it’s a cool idea, and I would test it our in students’ communities. Pretty sure that they will catch this up quickly.
From the technical part, it’s quite easy to make a dedicated template, but the challenge is not in the tech part but in making this movement possible.
Let me know if I got your idea correctly or if I missed any points.
From my point of view, you definitely should start developing this Idea. Here is some suggestions of what should be the next steps:
- Finalize how the PPT token standard
- Make an official announcement with the details of the movement (what is is this, why it’s important, and how it works). If you need a graphic or design, DM @InvestForFamily, he produces tons of materials.
- Create a first use case, make a real-life example of how it works. Ideally, record it on the video, so more people will have a chance to watch and understand it
- Approach student leaders of the nearest university to you and share this idea, let them the first student community in the world who apply your idea in real life
- Then based on users’ experience and feedback, we can improve the PPT standard from the tech side and find a way how to scale this idea on 100 other universities.
It already sounds for me as potentially a big movement. Let me know how it sounds to you?
Thanks for your kinde words @andrey. You put it perfectly. I think it can be a challeng with some kind of pesonal identity without to compromise personal data. Zero knowledge identity like for voting. We have to now that vote is legitim but without to know who voted.
If this movement started between friends or students community, there shouldn’t’ be identity issue)
If you start it up and show some progress on this we would be happy to allocate some resources to help with the development. But need kick start movement first )