The DataDollar project

INFORMATION AS MONEY. INFORMATION IS MONEY

Nowadays cryptocurrency technology is becoming more and more known and attracts different population groups.This technology is often perceived as a substitute for paper money as well as an attempt to create authentic world currency.

At a point of writing this abstract central banks or other regulating authorities in a number of countries have restricted or prohibited the utilization of this type of e-money considering their sufficient decentralization and lack of any kind of regulator.

We believe that one of the problems that existent cryptocurrencies face is the absence of economic component in such systems, which means that they resemble more a payment system than a currency itself. In particular, the emission of BitCoin cryptocurrency is presented as a static asymptotic function that imitates deflation economy and the number of coins is limited and constitutes an integer.

We aim to launch our developed project based on BitCoin cryptocurrency but with modified emission algorithms.
Nowadays there exist a number of international organizations that provide economic and social statistical information for public access in the Internet. We have processing technology for such information that can be used to add an economic essence to that type of currency, which will allow it to work according to common scientific laws.

 

Total money supply at the present moment = 82839031590648.8
This figure represents the sum of all countries GDP, PPP (current international $) in 2013.
We are now negotiating about what data we have to include into DataDollar algorithms.

 

This is experimental software!

In case your wallet cannot connect to any other, open Menu → Help → Debug window → Console
Then paste:
addnode 54.68.61.199 add
It will connect you to our initial node.

Download wallet

About

Digital currency is an electronically created and stored medium of exchange. Some digital currencies like Bitcoin can be used like money to buy physical goods and services. The value of the currencies is largely derived from speculative trading but the fungibility of mainstream digital money is rising. Bitcoin and all other similar cryptocurrencies are unrelated to any national government. Early digital currencies had prices that were pegged to the price of gold or silver bullion. New cryptocurrency prices have a floating exchange rate similar to government fiat money. Digital currencies differ from virtual money used in virtual economies due to transactions that exchange money for real goods and services; not being limited to circulation within online games.

(c) Wikipedia

Datadollar forked from Litecoin, so specs are the same:
Bitcoin optimized version for CPU mining using scrypt as a proof of work scheme.
2.5 minute block targets
subsidy halves in 840k blocks (~4 years)
50 coins per block
2016 blocks to retarget difficulty

 

«I don’t know. I’ve always been puzzled by why they insist on using the interest rate rather than the quantity of money.
If you really carried out the logic concerning the quantity of money, you deprive the Federal Reserve of anything to do. Suppose the Federal Reserve said it was going to increase the quantity of money by 4 percent a year, year after year, week after week, month after month. That would be a purely mechanical project. You could program a computer to do that.»

(c) Milton Friedman, 2006

 

References

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