Basic qualities of a better cryptocurrency.
Some basic standards if you are creating or using a currency.
1) Fair Distribution.
A currency has to be primarily owned by the group to whom it pertains, and there cannot be gross imbalances in the amounts different members of the group have.
A currency must be interchangeable with commodities and other currencies, and there always has to be a market for the currency in both directions. In other words there have to be goods in other economies that people can buy with their currency and there have to be goods sold into other economies that allow people to buy back their currency fairly.
3) Long Term Store of Value.
Fiat is generally judged on its ability to purchase commodities in the future, relative to another fiat currency. Crypto will eventually be producing something of great value, and even when a specific currency loses value relative to another currency, it will still produce a significant value.
A currency, aside from being used as a derivative of commodities, like fiat, should also have its own value which is weighted towards the future. In other words it should produce something, even if intangible, which adds value to the economy. Fiat “allows” commerce, public projects, etc, but is prone to abuse and is primarily backed by military power. The next step would be a currency that produces something more useful and is supported willingly, without coercion, by its users.
a) Cryptocurrency is said to be backed by cryptography, but history shows that no code that relies on using any public algorithm to generate private keys for public transactions is perfectly secure for a long time. b) Any currency that is available to, and used by, enemies of whatever group originated the currency will be attacked effectively eventually. The more a specific currency is restricted to kindred spirits, the more secure it is. c) Ideally a currency should have a domestic form and an outside form, which are interchangeable but which are distinct.
5) Accessible and Useable by Anybody.
The more a currency can be freely acquired and spent, the more people will use it as a substitute for commodities.
Additional Qualities Specific to AI coins
AI coins will create powerful networks that influence everything from education to politics. It isn't clear yet exactly what these networks will look like, but as they develop this section will try to anticipate qualities they should have.
6) Synergy Between Economies
Once several groups have established networks that are secured separately and are trusted locally, it will be possible to create interdependent algorithms that develop sciences through a more sophisticated type of AI. Fiat currencies developed technologies faster than, for example, primitive economies based on trading commodities directly, but crypto will accelerate the development of sciences and technologies at a pace that cannot even be guessed at. There will be competitiveness between ai economies, but there will necessarily be an interdependence, a symbiosis, that smarter people will turn into a synergy. If AI coins are developed within isolated language groups, as they should be, the synergy may be arranged by non tribal, or 'federating' economies i.e., the melting pot economies.
~In Progress, This page will be expanded when Native language ai coins start developing~