Creative Currency Octaves (CCO) is a unique proposal to harmonize economies that introduces a dual-currency system where a “basic unit” is pegged 1:1 to the primary currency, and is distributed universally as a form of (opt-in) basic income. These basic units expire, and are restricted to foundational expenditures such as housing, food, and utilities—ensuring basic notes directly contribute to alleviating poverty, as opposed to non-essential or potentially harmful purchases.
Primary currency would still be both earned and spent the same as now, however expired basic units either revert back to their source, the treasury, or get converted into primary notes by UBI recipients who join a Creator Collective.
Creator Collectives are communities of innovators (and participants) who 1.) create something productive, and 2.) share it in a positive way. Collective members may save and trade expired basic units with other members, convert expired basics into primary notes, earn elevated personal-conversion rates, and step-up their octave level.
Octave Levels determine how many expired basic units one may convert into primary notes in proportion to UBI received per distribution cycle. With each octave level up, the amount doubles, therefore if UBI recipients receive 1,000 basic units per month, then members of the second octave level may convert 2,000 expired basics each month into primary units. Although there’s no highest limit on the octave scale, members must transparently earn ascension level-ups based upon: project scope, market forces such as supply and demand, cost savings compared to current or alternative options, and other criteria such as what’s considered essential and/or deemed worthy.
Personal Conversion Rates are based upon factors including productivity, efficiency, creativity, quality, and beauty. For proposed specifics, see the reference link below, however an example is where an endeavor is deemed ‘exquisite and beautiful’ by enough members to earn a conversion rate of 14x, or 14+ primary notes for each expired basic unit.
This system creates both a supply of, and demand for, social-balancing basic-unit currency—designed to dramatically reduce crime, stress, strife, and extreme wealth imbalance.
Basic UBI Cash could be as simple as receipt paper with barcodes, and ATM exchanges can be placed at strategic locations including markets and post offices. Local and industry-specific creator collectives could be established like credit unions, and UBI cards with online accounts would work similar to debit cards and online banking.
While the primary currency is traded both domestically and abroad, basic units are intended for domestic use only. Monetary Systems are typically backed by either precious metals or the ‘full faith and credit’ of a specific government—which carries potential for terrible, systemic corruption—however author Duke Johnson posits that “Basic units with CCO could be the first currency in history backed by publicly-endowed art and creation.”
“With a fresh and fair money supply, plus a transparent Creative Currency Octave system, everyone gains, yet none lose,” propounds Duke Johnson, who further postulates “CCO could end poverty and usher in a glorious golden-age of collective human prosperity.”
Book reference: BetterToBest.wixsite.com/book
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Company Name: Author Duke Johnson
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Country: United States
Website: http://BetterToBest.wixsite.com/book