Greshm

In development

In development.
Planned milestones:
1. Find a lawyer.
2. Form the organization.
3. Raise seed funding
4. Crowd fund the USD reserves.
5. Launch in one city.
6. Expand to the world.

Greshm is a USD-based complementary monetary system (1-to-1 peg).

XGD will be provided as basic income to low income individuals in a specifc city or region, after funding USD reserves.

They will partner with a network of local merchants agreeing to accept XGD payments at face value.

http://www.greshm.org/

Blockchain

Non-blockchain

Social identity

Government IDs, etc. It'll be a mix. Whatever makes the most sense for each country.

There will always be identity fraud, so we'll have to recover fraud incidents.

We'll always have people actively working on recovering from fraud incidents.

Social mining

- XGD terms to maturity through subtraction of time points since last transaction, before exchanged to USD
- XGD circulates and users receive UBI

Token economics

- Gresham’s law - “bad money drives out good"
- XGD pegged אo USD (1 to 1)
- XGD matures into USD from the reserves after a period of time
- Term to maturity restarts whenever XGD is exchanged
- Circulation of XGD will lessen impact on USD reserves
- Greshm merchant partners are
required to set prices equally in XGD and USD, so consumers can prefer to spend XGD over USD

Governance

Centralized authority protects against double spend.

Key people

Alex Howlett

Locations

Boston, US

OpenUBI aware

Yes

Links

Whitepaper

https://www.reddit.com/r/greshm/

https://twitter.com/projectgreshm

Notes

- Continuous basic income. No discrete payments.
- Will be open source.
- Like PayPal, but with a basic income.