During the first half of 2018, my colleague at Portfolio.io, Bob Bogaert and I wrote a white paper. In it, we looked to explore how new cryptocurrencies could be engineered to tackle inflation and reach a mainstream user base. This article borrows several unpublished excerpts from that whitepaper. It’s a love/hate story about money, how it works in the present day, and how we would like it to work in the future.
Economists attribute four core functions to money — a medium of exchange, a unit of account, a standard for deferred payments, and a store of value. And while some new digital currencies purport to enhance one, or even all of these core functions, none have made it their primary mission to solve money’s idleness —