The Revolution of Money

The process of creating money, crypto currencies and a big fraud

Let’s have a look at the process of creating money. Let’s assume you have a good idea and you want to found a company. Your idea is good but you need money to buy machines, hire people, buy stuff. The process of creating money is linked to the process of giving a credit. So you need to go to a bank to get a credit. If the bank says “no” for whatever reason you’re screwed up. If you can’t open a bank account, can’t transfer funds or can’t get a credit it’s bad. You totally depend on the bank.

Clever people invented crypto currencies that handover the process of creating money and the process of accounting balances to the people - the miners. This was a first stage of decentralization. Anybody could buy mining hardware and participate in the process of creating money and accounting the balances by mining new blocks in POW based currencies like Bitcoin. But due to the fact that you need expensive hardware there is the trend of centralization. The same with POS based currencies where you need a balance for staking.

The most innovative part of this whole crypto currency thing was the idea to transfer the power to create money from banks to the people. The conclusion: We don’t need the banks anymore!

The concepts for pow (proof of work) and pos (proof of stake) were good, but they promote centralization by design. This malformed the revolutionary idea behind it. Because the big players will get everything - either based on pure computing power or based on their high balance. So the problems of these concepts can be summarized in one sentence:

If you already have much money you easily can make much more while people who don’t have much money can’t.

This is very unfair and undemocratic to the vast majority of the people. And it’s a big fraud. It’s the opposite of the original idea to transfer the power to create money to the community. Centralization not only means that the balances are being accumulated by single parties (this is a normal process in the economy). For these concepts it also means that the money is created only by these parties. This leads to insufficient supply of money available for all other users - which are in fact the vast majority. The power to create money also includes the duty to ensure sufficient supply of money to all other participants because money is the fuel of our economy. But most cryptos do not acknowledge this duty and that’s the reason these cryptos can never replace existing “real life” currencies.

But UCS is different. It’s not like all the other crypto currencies out there. It’s more than that. We want to provide you the true value of creating money decentralized.

Think about the cryptos where a single authority hoards the coins created at the start: if this is possible why should users not be able to create and manage the coins on their own? Another thing is the giant waste of computing power in some cryptos. Even if the computing power is monetized like in Ethereum, where it can be bought and not “wasted” like in Bitcoin it’s just another aspect that promotes centralization.

It is possible to have a working true distributed ledger that does not further promote centralization and all this with minimum computing and maximum effectiveness. But most of the existing cryptos out there simply don’t have it.

Let’s have again a look at the central idea of the crypto currencies: to give the power of creating money to the users. The consequence would be to let the users create their money - fix amounts for all of them and each one on his own. Totally decentralized and independent. If a crypto currency uses a running online network with server nodes for coordinating or setting milestones it’s NOT decentralized and independent. If the only way to gain crypto is by processing new blocks or by staking, you get me: it’s also NOT decentralized and independent.

All the approaches I saw were not reliable enough and not resilient enough. They were and are also not flexible enough and not modular enough. Not enough to overcome all scenarios we might have to face.

UCS is different in each and every single point. It’s file based and a online connection is only required once for a user creation. There are no server nodes and no coordinators required. The users manage themself and form a decentralized peer-to-peer offline true distributed ledger. They create fix amounts of money on their own and account it while they will be permanently audited and reviewed by other users they connect with. Of course there are much more aspects that make UCS very unique! But the fact that UCS is one of the very few cryptos in which each user really is it’s own bank while the others only claim it is worth mentioning.

Think about it!