WyoCoin

Inspiration

Various successful local currencies. Some of the purposes for community currencies identified by Community Currencies in Action include:

Democratizing services and organisations: time credits for volunteering encourage people to actively engage in their community while making services, such as elderly care, more democratic.
Supporting small and medium enterprises: Community currencies can serve as a means to promote independent shops over large corporations since they keep on circulating locally. They can also help SMEs support each other financially by lending and receiving credit, goods and services within the currency network. Examples are: Bristol Pound, SoNantes, TradeQoin, Chiemgauer
Countering inequality and social exclusion: Specially designed currencies can address inequality issues by giving everyone the chance to get involved in their community; for instance by rewarding participation in voluntary programs.
Addressing environmental impacts: Community currencies can play a role in better valuation of environmental resources and providing an incentive for more sustainable behavior. For example, the Belgian Portemonnee rewards residents for environmentally positive actions such as composting. Reward currencies can also encourage businesses to adopt more environmentally sound practices.

What it does

Embedded Intentions aka “ruleset”: Leveraging chialisp smart contract technology, WyoCoin embeds intentions/rules into each individual coin creating a more decentralized, secure model. Current frameworks like Ethereum place smart contracts on a separate ledger from the coin. This technology allows us to give back power to the coin holder.

Expiration Date: Coin disappears if not used to avoid the issues with hoarding of capital.
Ethical Rule: “User(s) does no harm.”
Fractional Renewal of Coins: When intention is fulfilled, the disappeared coin grows back!
Flexibility: Coin owner can add extra secondary rules to their coins, that get passed down for a set period of time.
Transactional: Nested rules must be satisfied before coin can be spent.
Coloured Coin Offers: An added feature in development, allows a user to create unfinished transactions, and anyone who finds or sees the “Offer” can accept the “Offer” by making a transaction that finishes the other side. This sets up for a Scavenger Hunt for Good.
Reliability: chialisp is built on Lisp, which is a vetted programming language for over 60+ years.
Accessibility: Farming coin is more sustainable than mining, if done properly.