Modern economics is based on appraising manufactured assets using only one measure – monetary value. Equally talented people living in the same country have different opportunities in life. People in the business world, where success is measured by sales and profits, have better condition of life thanks to direct conversion of the result of their work into money, than people in creative or scientific industries, where the fruits of their labour may not have applicable nature and sometimes are not valued justly in monetary equivalent. However, the contribution from people working outside of business sphere is still significant for society, its future development and prosperity.
We believe that it is necessary to create a 2D economy, where a person’s success depends not only on the amount of earned or inherited money, but also on their social role – social stock. Social stock is a new measure of a person’s value to society.
Consequences of 2D structure
Currently we are witnessing the development of 2D economy when companies offer discounts to loyal customers and celebrities. Loyal customers influence their friends and celebrities by their own example influence their fans. Celebrities in greater measure feel the value of social stock.
Involvement in the new format
Applying 2D economy and involving the mass market in it requires an instrument like a 2D payment method that combines monetary payment with equivalent social stock. Together with the bank we are creating this ecosystem with devices for such payments in real economy. The partner bank is responsible for processing payments made with real money and we are creating an instrument for paying with social stock. Such a partnership allows us to share with the bank the commission from processing payments, which is a part of monetising the LikeCoin ecosystem.
Social stock as a foundation of future relationships
Social stock, based on LikeCoin mechanics, helps all the users to receive not only valuable experience, but also financial profits from their activity. Reviews, posts, comments, “likes” become a real currency in the online society. Socialisation helps people to make money off their creative and other activities, demonstrating it to other users of LikeCoin ecosystem and receiving for it LikeCoins – not so much an alternative to monetary reward, but an additional measure of value. Any other activity also turns into stock, which until now was only considered valuable as an equivalent of status. Now the “likes”, reposts and other actions on social networks, thanks to the value of social stock, can bring a real value.