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Communication Dans Un Congrès Année : 2023

Generic and Universal Local Cryptocurrency: LCoin

Résumé

Blockchains are finding evermore applications. One underused application of blockchains is local currencies. Local currencies are currencies that float in a restricted area in purpose of growing the local economy by forcing local spending. We introduce the concept of geographical demurrage: money loses of its value the farther away it is spent. We construct four generic local cryptocurrencies: a regular one mimicking local paper money; a second that restricts spending to the dedicated geographical area; a third that utilizes geographical demurrage for maintaining the system, and a fourth that lifts the geographical restrictions and maintains geographical demurrage, thus creating a universal local cryptocurrency: a currency that loses value correspondingly to the distance between its point of reception and point of spending. So without the need to restrict spending to a given geographical sphere, the currency will always encourage local spending, no matter where it is spent; yielding a universal local cryptocurrency we name LCoin.
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Dates et versions

hal-04176704 , version 1 (03-08-2023)
hal-04176704 , version 2 (04-08-2023)
hal-04176704 , version 3 (31-10-2023)

Identifiants

  • HAL Id : hal-04176704 , version 3

Citer

Frédéric A Hayek, Pascal Lafourcade, Ariane Tichit. Generic and Universal Local Cryptocurrency: LCoin. BRAINS - Conference on Blockchain Research & Applications for Innovative Networks and Services, Oct 2023, Paris, France. ⟨hal-04176704v3⟩
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