FairShareCoin (FSC) Whitepaper
Abstract
FairShareCoin (FSC) is a nonprofit, blockchain-based cryptocurrency designed to ensure that every person on Earth receives an equal share. Leveraging blockchain-integrated registration and distribution processes, FairShareCoin guarantees fairness, transparency, and security. By utilizing ePassports for initial registration and maintaining a closed, isolated ecosystem, FairShareCoin avoids external economic influences, promoting a stable and equitable digital economy. The system incorporates Zero-Knowledge Proofs (ZKPs) to ensure secure, transparent, and efficient operations. ZKPs allow for secure and private identity verification, ensuring that users can register without revealing personal information, while a dual voting system enables decentralized governance.
Introduction
FairShareCoin aims to address the inherent inequalities in the distribution of wealth within the current financial and cryptocurrency systems. By ensuring that every individual receives an equal share, FairShareCoin promotes fairness and inclusivity. This whitepaper outlines the technical, economic, and governance frameworks of FairShareCoin, detailing how it achieves its objectives through innovative use of blockchain technologies as a nonprofit initiative.
Problem Statement
Traditional financial systems and existing cryptocurrencies often result in unequal wealth distribution, centralization of control, and accessibility issues. These challenges hinder the creation of a truly fair and inclusive financial ecosystem. FairShareCoin addresses these problems by ensuring a fair distribution mechanism, leveraging secure and transparent technologies.
Solution (FairShareCoin)
Equal Distribution
- Fair Share for All: Each registered individual receives one unit of FairShareCoin, ensuring an equal distribution of the total supply.
- Dynamic Supply: The total number of FairShareCoins grows dynamically based on the number of registered users, maintaining a 1:1 ratio of coins to users.
ePassport-Based Registration
- Secure Identity Verification: Utilizes ePassports with ID chips (certificates) following ICAO standards for initial account registration, ensuring secure and unique identity verification.
- One Unit Per Person: At initial account creation, one unit of FairShareCoin is created, reflecting the unique user count.
Blockchain Registration
- Decentralized Identity Verification: Stores and verifies ePassport data securely using blockchain technology.
- Smart Contracts: Automates the verification process using smart contracts.
- Immutable Records: Logs every registration attempt on the blockchain for transparency and auditability.
- Proof of Registration: Generates and stores a unique hash as proof of registration on the blockchain.
- Zero-Knowledge Proofs (ZKPs): Allows users to prove ownership of a valid ePassport without revealing sensitive information.
- Selective Disclosure: Enables users to control what information they share during the registration process.
- Layer 2 Solutions: Uses Layer 2 solutions for handling high volumes of registration transactions off-chain, improving efficiency and scalability.
Technical Details
Post-Registration Flexibility
- Anonymous Accounts: Users can transfer their coins or fractions to anonymous accounts post-registration, enhancing privacy.
- Multiple Login Methods: Provides multiple login methods for account access and management, including PINs, biometric authentication (fingerprint, faceID, iris scan), and combinations of these methods.
Divisibility of the Coin
- Fractional Transactions: FairShareCoins are divisible into 1 million micro-coins, and each micro-coin is further divisible into 1,000 milli-coins.
- Fixed Decimals: Initially set a fixed number of decimals, with the potential for future updates based on public consultation and technical feasibility.
Wallet IDs/Addresses
- Base58Check Encoding: Uses Base58Check encoding to generate wallet addresses that are scalable, secure, and user-friendly.
- Address Length: Addresses are typically 26-35 characters long, ensuring uniqueness and compatibility with various blockchain networks.
Closed, Isolated Ecosystem
- No External Exchange: FairShareCoin operates as a closed, isolated system with no exchange with traditional fiat currencies (like USD or EUR) or other cryptocurrencies.
- Inflation and Deflation Control: By isolating FairShareCoin from external economic factors, inflation and deflation are easier to control, maintaining the stability of the FairShareCoin ecosystem.
- Parallel Economy: FairShareCoin lives in parallel with existing financial systems, allowing it to develop its own value and utility independently.
Economic Model
Fair Distribution
- One Unit Per Person: Ensures equality by giving one unit of FairShareCoin to each unique ePassport-verified user.
- Divisibility: Coins are divisible into micro-coins and milli-coins for flexible transactions.
Closed System
- Isolation from External Influences: Limits external economic influences to maintain stability within the ecosystem.
No Transaction Fees
- Cost-Free Transactions: Ensures that all transactions within the ecosystem are free of charge, promoting usability and accessibility.
Nonprofit Organization
- Nonprofit Organization: Operates as a nonprofit organization focused on ensuring equal distribution of wealth.
Dual Voting System
- Dual Voting System: Incorporates both token-based voting and identity-based voting for community-driven decision-making.
Community Review and Final Vote
- Community Review and Final Vote: Proposed changes undergo community review, followed by a final vote to accept code before implementation, reinforcing collaboration.
Open Source and Accessibility
- Open Source and Accessibility: The voting system, discussions, and coding processes are open-source and accessible, aligning with FSC's core values.
Discussion and Feedback
- Discussion and Feedback: Each matter encourages discussion, allowing for comprehensive feedback and input from all members.
Implementation Roadmap
Phase 1: Research and Development (12-18 months)
- Conceptualization and Planning: Define project goals, technical requirements, and resource allocation.
- Blockchain Development: Develop the blockchain infrastructure, smart contracts, and security protocols.
- AI and Blockchain Integration: Integrate AI for secure ePassport-based registration and identity verification.
- Prototype and Initial Testing: Build and test initial prototypes to identify and resolve technical issues.
- Security and Scalability: Ensure robust security measures and scalable infrastructure to support global adoption.
Phase 2: Pilot and Testing (9-12 months)
- Pilot Launch: Introduce FairShareCoin to a limited user base to test the system in a controlled environment.
- User Feedback and Iteration: Collect and analyze feedback from pilot users to improve the system.
- Compliance and Legal Review: Ensure compliance with international regulations and address any legal concerns.
- Security Audits: Conduct thorough security audits to identify and fix vulnerabilities.
Phase 3: Global Rollout (12-18 months)
- Marketing and Outreach: Launch global marketing campaigns to raise awareness and attract users.
- Infrastructure Expansion: Scale up infrastructure to support a growing user base and increasing transaction volumes.
- Community Building: Foster a strong community of users, developers, and supporters to drive adoption and innovation.
- User Support and Education: Provide resources and support to help users understand and utilize FairShareCoin effectively.
- Launch of FairShareCoin: Open registration to the global public, ensuring a smooth and secure onboarding process.
Phase 4: Post-Launch Development (Ongoing)
- Feature Enhancements: Continuously develop and release new features based on user feedback and technological advancements.
- Governance and DAO Implementation: Establish and refine the Decentralized Autonomous Organization to ensure transparent and democratic decision-making.
- Security and Maintenance: Regularly update security measures and maintain the system to prevent issues and improve performance.
Phase 5: Going Live (3-5 years post-launch)
- Transfer Capabilities: Enable transfers between unique accounts and to anonymous accounts.
- System Maturity and Feedback Integration: Use the initial period to mature the system, gather extensive user feedback, and implement necessary improvements.
- Continuous Monitoring and Improvement: Monitor the ecosystem, address emerging challenges, and ensure long-term stability and growth.
Transfer Restrictions and Going Live
Initial Period: After registration opens, no transfers in or out of initial accounts/wallets will be possible for a period of 3-5 years. This period allows the system to mature and gather user feedback.
Going Live: After the initial period, the system will go live, enabling transfers between unique accounts and to anonymous accounts.
Legal and Regulatory Considerations
Compliance
- International Regulations: Ensure compliance with relevant international regulations and standards.
- Privacy and Security: Prioritize data privacy and security, ensuring users' personal information is protected.
Key Points Related to Nonprofit Organization Ceasing to Exist Upon FSC Going Live
- Nonprofit Dissolution: The nonprofit organization overseeing FairShareCoin will cease to exist once FSC goes live.
- Encouraging Decentralization: This transition encourages further decentralization and ensures that FSC operates as a non-governed entity, outside of the dual voting system.
- Community Governance: Post-dissolution, the dual voting system will be the primary mechanism for decision-making, ensuring that the community retains control.
- Sustained Autonomy: The dissolution of the nonprofit emphasizes FairShareCoin's commitment to creating a self-sustaining, autonomous financial ecosystem.
Conclusion
FairShareCoin is designed to create a fair and inclusive financial ecosystem, leveraging advanced technologies and ensuring equality through a decentralized and nonprofit model. By utilizing blockchain, ePassports, and a dual voting system, FairShareCoin aims to revolutionize wealth distribution and create a truly equitable digital economy. The transition to a fully decentralized system upon going live underscores the commitment to autonomy and community governance.
Living Document
This whitepaper is a dynamic and evolving resource, not a final version. It will be updated regularly to reflect changes in FairShareCoin (FSC), community feedback, and advancements in technology and regulation. Our goal is to adapt and improve continuously.
We encourage all community members to actively participate, share their insights, and contribute to discussions. Your input is vital in shaping the future of FairShareCoin, and we welcome ongoing engagement as we progress together.
FairShareCoin Recruitment Announcement
Join the FairShareCoin Team: Build a Fairer Future Together!
Are you passionate about creating a more equitable and inclusive digital economy? FairShareCoin is looking for talented and dedicated individuals to join our team. We are a nonprofit project committed to ensuring every person on Earth receives an equal share of cryptocurrency. Our mission is to build a secure, transparent, and efficient blockchain-based ecosystem that reflects real-time global user count.
Why Join FairShareCoin?
- Innovative Project: Be part of a groundbreaking initiative that aims to revolutionize wealth distribution through blockchain technology.
- Global Impact: Contribute to a project that has the potential to impact billions of lives positively.
- Collaborative Environment: Work with a diverse and passionate team committed to fairness, transparency, and inclusivity.
- Nonprofit Mission: Align your work with a mission-driven organization focused on creating real social value without private or corporate beneficiaries.
Open Positions:
Blockchain Developer
Responsibilities:
- Develop and maintain FairShareCoin's blockchain infrastructure.
- Implement smart contracts and Layer 2 solutions.
- Ensure the security and scalability of the blockchain network.
Qualifications:
- Strong experience with blockchain platforms (e.g., Ethereum, Hyperledger).
- Proficiency in Solidity or similar smart contract languages.
- Understanding of cryptographic principles and secure coding practices.
Specialist for Identity Verification
Responsibilities:
- Develop models for secure and efficient ePassport verification.
- Integrate solutions with the blockchain registration process.
- Ensure data privacy and compliance with relevant standards.
Qualifications:
- Experience with machine learning frameworks (e.g., TensorFlow, PyTorch).
- Knowledge of identity verification and biometric technologies.
- Strong programming skills in Python or similar languages.
Front-End Developer
Responsibilities:
- Design and implement user-friendly interfaces for the FairShareCoin platform.
- Ensure responsive and accessible design across devices.
- Collaborate with backend developers to integrate APIs.
Qualifications:
- Proficiency in HTML, CSS, JavaScript, and modern frameworks (e.g., React, Angular).
- Experience with UX/UI design principles.
- Strong problem-solving skills and attention to detail.
Community Manager
Responsibilities:
- Engage with the FairShareCoin community across social media and forums.
- Organize and manage community events and initiatives.
- Gather feedback and communicate it to the development team.
Qualifications:
- Excellent communication and interpersonal skills.
- Experience managing online communities.
- Passion for cryptocurrency and blockchain technology.
Marketing Specialist
Responsibilities:
- Develop and execute marketing strategies to promote FairShareCoin.
- Create content for social media, blogs, and other platforms.
- Analyze marketing data and adjust strategies accordingly.
Qualifications:
- Strong experience in digital marketing.
- Excellent writing and content creation skills.
- Knowledge of SEO and analytics tools.
Desired Qualities for All Positions:
- Passion for Fairness and Equality: A strong commitment to the principles of fairness, transparency, and inclusivity.
- Collaboration and Teamwork: Ability to work effectively in a collaborative, remote team environment.
- Problem-Solving Skills: Strong analytical and problem-solving abilities.
- Adaptability: Willingness to learn and adapt in a rapidly evolving field.
- Communication: Excellent verbal and written communication skills.
How to Apply:
If you are excited about the opportunity to work on FairShareCoin and meet the qualifications for any of the open positions, we would love to hear from you! Please send your resume and a cover letter to [email address] with the subject line "FairShareCoin Application - [Position Name]".
Join us in building a fairer future for everyone with FairShareCoin!