You know what’s cooler than a Billion Dollars? A Trillion Debt-Free Sollars… Sort of…
That’s not only my opinion but it is my long term vision of what money will look like in this brave new world. The New Money project’s main long-term goal is very simple… to state. In the coming decade we will create, at the very least, a one trillion Sollar economy around the world. This is through my own personal products and platforms built with new money technology. And also with independent financially driven platforms that find it beneficial to build on top of what we are doing (eventual blockchain). A borderless Wall Street or Heaven Street in our case.
Through a carefully thought out roadmap we plan to look at areas of the world and its societies and see where New Money could best be utilized to advance cultures and spur on economic growth. All within the right timing. Timing is everything. While on this road we will always keep, as a first principle, to install and promote the notion of life liberty and the pursuit of economic happiness for all individuals. This principled message is what we believe will make the road much easier to travel. This is especially true when We the People (Americans) are demanding it. It is also a principle we believe will be adopted by the world as a whole and through open source technology we will make it happen. File / Export / Americanism…
Hello my name is Solomon Adekale and if you want to know who I am you can check out any of these introductory blogs to see what I am about and this project involving Smart Money… or New Money. This blog post will start a series on the asset structure we will use going forward to fund this vision (out of thin air) to success. Time to perform the ultimate trick, said the Magician. Although this series will not be excruciatingly extensive it is still meant to give a comprehensive and solid overview of the direction we are headed. A direction pioneered by Bitcoin and greatly improved upon by the Bitshares DAC model.
Now as a currency entrepreneur and monetarist who understands the deeply transformative power of financial tech, I’ve had to asked myself these important questions… What is the best way to bring real financial disruption from my perspective? For my little itty bitty project? How do we do what I know I set out to do in a way where we stay independent and authentic to the Vision? How do we take the road less traveled? Do the unexpected? Do what no one says is possible? Think outside the box that the box was in? How do we make that ultimate statement?
My answer that I came up with two years ago was simply… Sollar Bonds. Sollar Bond is the general term to represent a number of cryptographic assets that will be issued by this project for the sole purpose of funding itself out of thin air. The reason why we expect people will want it and value it is the same reason people originally purchased Bitcoin, Bitshares and lately Ethereum. We have a solid vision that simply makes $ense and the technology to back up that vision (link Bitshares). All of the bonds issued by this project will be denominated in future Sollars hence ‘Sollar Bond’.
Now the bonds are not exactly traditional bonds as Sollars and Sense is not exactly a traditional currency but the overall concept and facilitation of a bond by a country or corporation still applies in our unique case [minus the securitization]. Generally speaking, the concept of issuing bonds instead of shares is the same as with countries like the United States. The bonds we issue (like traditional US Treasury Bonds) are being offered for growth and expansion initiatives. And just as one cannot own shares of the United States but can own its bonds, the same will be for this project at large. This is for many reasons including protection of the original founder’s vision (me). Shares will not be a primary facilitator for this project instead we will go with bonds.
Sollar Bonds will primarily be redeemed for Sollars and $ense in 3 ways.
- SOLLARS AND SENSE OFFICIAL DAC: Sollars and $ense is currently a UIA. But at the right time it will eventually have its own DAC (blockchain). When it is its own DAC the automation of its creation will be coded in a way where it automatically honors those individuals who are holding our bonds in any of its various forms. This is similar to the way Bitcoin’s blockchain automatically pays out Bitcoin to miners without a central authority. This does imply bondholders will be a class of individuals who are paid Sollars when new ones are created based on demand (stability against the Dollar). Payouts will depend on maturity date which has already been proven can be monitored by blockchains. This first way will be the main way most Sollars are redeemed through Sollar Bonds. And those who are holding SoLCert tokens will be the first to receive Sollars in this way. More on the Sollars DAC in Part 3 more on the SoLCert token in part 4.
- THE RESERVE: Another way pay outs for Sollar bonds will happen is the official company that is started to handle any revenue coming in from business models created by me the founder. The official DAC system for Sollars will house our decentralized payout bond fund (smart contract). The smart contract will automatically payout Sollars to bondholders based on maturity date and bond type. More on The Reserve in part 2.
- CHARITY: The final and more unusual way is that any individual holding Sollars and Sense (when it has its own DAC) will be able to voluntarily pay out to bondholders of their own accord. All they would have to do is also send Sollars to the decentralized payout fund (smart contract) and it will automate the rest.
SSS SOLLAR Bonds
The first type of Sollar Bond to be issued by this project will be the SSS Bond (or Triple S Bond). SSS Bonds are most similar to traditional zero-coupon bonds. Zero-Coupon are bonds without an interest rate attached to them. They are instead sold at a steep discount price to its face value price depending on its maturity date. Its simple and effective. One trillion of these will be created and expected to be issued over the next ten years by this project. Each bond created and issued will represent the future value of one Sollar.
SSS Sollar Bond Properties
Amount to be in Network:
1,000,000,000,000 (1 Trillion)
Each Bond issued is worth 1 Sollar
No interest rate. Instead sold
at very steep discounts to its face value price.
Sold exclusively in crypto-currencies.
(First Auction in Bitcoin, BitShares & Ethereum)
Date of Maturity:
3-10 years from Official Sale date.
Automated (when DAC is completed)
As with a traditional US Zero-Coupon Treasury Bond you know exactly what the Face value price is and what your interest payments are (none). The price you will pay for each bond will start at assuming Sollars and Dollars are a 1-1 exchange. This is because that is the price consumers will be paying when they use Sollars and Sense through Sollywood TV. It is also the psychological price that will be ingrained in mainstream consumers until that psychological price is not needed anymore (Dollar collapse).
Why 1 Trillion?
Why not? My generation represents 3 Trillion dollars worth of wealth being spent each year. Couple that with the fact that we are the generation ACTIVELY LOOKING for a replacement to what we instinctively know is a terrible and inefficient banking system and voila. It is a good ten year goal to look at and actively try to reach. Now I understand most traditional investors will look at this crypto-asset as a clever play on what is essentially just a junk bond issued by a “private corporation” and that is fine. I’m not impervious to these sorts of knee jerk hand-waving reactions. For Bitcoin was a sort of junk bond until it wasn’t. The same can be said for us.
So one can look at this as essentially a junk bond but we see this bond initiative representing the future of American jobs and prosperity creation. We see this asset initiative as a smart and effective way to bring 1 Trillion Sollars worth of wealth into this world out of thin air.
As a capitalist I believe in wealth creation and the transformative power of ideas and competition. Its time to bring competition to the most important aspect of human life and economic prosperity. For me that means changing the way we view money. Capitalism has gotten a bad rep because it has failed to provide the ultimate use case of its power. Competition in money. But now they will see why capitalism is and will forever be the ultimate economic system for prosperity when implemented correctly in a free market. It is an exciting time to be alive in America and entrepreneurship.
In part 2 we will go a little bit into the project’s “corporate” structure in which has been dubbed The Reserve…