-completely arbitrary currency
-Imaginary Currency stupid contract- completely arbitrary agreement between users of an imaginary currency
- Consensus mechanism- universal unanimous consensus, all transactions verified by universal unanimous consensus
Proposed stupid contract:
-1 Manray coin is pegged to the value of 1kg of bananas. Upon the consumption or destruction of 1kg of bananas, 1 Manray coin is produced.
-1 Manray coin is pegged to the value of 1 Youtube like.
Consensus: backed by unanimous universal consensus: The imaginary currency is only valid under the consensus of every user of the currency. Once one user breaks consensus, the currency is invalid until consensus is reached again
Security: Secured in the fact that there is no security. Once one user breaks the consensus that the Imaginary Currency is valid, consensus is broken so the Imaginary Currency is no longer valid. In the case of a well-established Imaginary Currency already in use, if one user breaks consensus, then, in effect, all users lose the money they have in that currency. The user who broke consensus is then responsible for the destruction of all the other users' money in that currency, in a way responsible for "burning" their money. This keeps breaks in consensus from happening.
Transaction Speed
-As fast as humans can communicate with one another, ultimately limited in human reaction time between sensory experience and conscious awareness.
Transactions per Second
-∞ mugen
Use Cases
-Games like Monopoly
-Adding monetization to existing media platforms (assigning an imaginary currency to Youtube likes)
-Adding more convenience to existing commodities by assigning an imaginary currency to the value of an existing commodity like bananas that can be exchanged directly into the commodity
-Intellectual property- tipping someone in imaginary currency for an article or illustration, or selling intellectual property in exchange for imaginary currencies
-Tipping on existing platforms using imaginary currencies even on mobile
-Independent filmmaking and independent animated filmmaking industries- assign imaginary
-AR and VR industries
-Independent AR and VR industries
-Video Games- Game with in-game imaginary currency that can be exchanged with other players
-Music industry
-A single imaginary currency with general use
-Advertising
-Crowdfunding
-Subscription services
-Online video streaming platforms
-Software
-VR games
-Manga industry
-App stores
Value: can have any value, can be pegged to an arbitrary value.
-An arbitrary value can also be included as part of the stupid contract. This value then must also be attached to the imaginary currency be consensus and if consensus breaks from this value, then the currency is invalid.
Other use cases:
-Developers: developers can be paid per job be consumers instead of by companies.
-Engineers: paid directly per job