Update WP 3.0 from 1,2
Philosophical maintenance of existing THE9 White papers 1.0, 2.0
Last updated
Philosophical maintenance of existing THE9 White papers 1.0, 2.0
Last updated
The concept of the sharing economy originated from a culture that values equal opportunities and fair distribution in response to the inequality caused by the traditional economic system. It promotes a rational idea where participants collectively create value and receive a fair share based on their contributions. However, the sharing economy lacked a centralized intermediary to ensure rational and fair opportunity provision and profit distribution, leading it to be utilized as just another profit-driven business platform, diminishing its value and impact.
Blockchain participants are now experimenting with the DAO concept to address the shortcomings of the sharing economy. The blockchain operates in a decentralized manner, allowing it to align with the philosophy and values of the sharing economy without the need for a central platform. Current monetary systems are based on inflation, where the value of assets linked to the physical economy is increased or decreased through currency inflation to drive economic activity. However, this system requires intervention from central authorities to function optimally.
Blockchain's fully decentralized structure seeks to become the problem solver, but implementing a structure similar to the existing monetary system (a model based on real-world currency as the foundation for token economics) in a completely decentralized blockchain economy is paradoxical. It creates structural contradictions in inflation, leading to the risk of uncontrollable depreciation and collapse of the ecosystem.
THE9 Token Economy embraces the essence of the sharing economy and utilizes the DAO structure of the blockchain to create a decentralized blockchain economic system. Departing from the traditional blockchain model that relies on real-world currency, THE9 Token Economy forms an ecosystem based on bartering of goods (value) from participants, especially businesses (shops). This approach resolves the inflation issue stemming from fiat currencies.
The operation of THE9 Token Economy revolves around the exchange value of goods (exchange products) contributed by participants (shops) and the accumulated value of the mileage provided by participants (consumers and token investors). The inflation in the token economy can be adjusted based on the total value of the exchange products provided by participants (shops) and the desire for token value of individual participants (consumers and token investors). This value standard for inflation is relative to the cumulative value of the goods (exchange products) provided by participants (shops).
Participants' (consumers and token investors) desire can vary, but the guaranteed total value of the exchange products ensures a consistent relative value. The responsibility for one's desire lies with each participant. The ecosystem of THE9 Token adheres to the fundamental philosophy of universal value maintenance through fair trade obligations among ecosystem participants.
In summary, THE9 Token Economy aims to implement a decentralized blockchain economic system based on bartering of goods, addressing the drawbacks of the sharing economy while ensuring relative value standards for token inflation. The ecosystem emphasizes fair trade as a basic philosophy among participants to maintain universal value.
