Decentralized Bank of BoaMe

Summary:

BoaMe Token seeks to spark a new economic model coined Grouponomy, by distributing 100,000 assets to 100,000 entities or more entities in the group. Valued at no less than 100,000,000 US dollars apiece. The community of entities agree to establish the value as such and will peer to peer exchange for public and private debts. Each entity is tied to a trust line. The consensus for BoaMe Token holders is, BoaMe price will be locked forever, at minimum 100,000,000 times the value of the US $ for that group. The BoaMe Bank secures its established value (established by the people of the group) on the Stellar Block Chain stellar.org/ , using the native lumen currency. After the distribution of 1,000 asset trustlines no one authority will have access to issue more tokens. The Members of The Boa Me banking group seeks to pay for all goods and services in BoaMe, Example

1BoaMe=100,000,000 USD

Once 1000 trust lines have been created, regardless of how many Boa Me have been distributed, there will be a lock on the issuer account at 100,000 Boa Me Distributed. At that point the consensus amongst the 1000 trustlines will be set at:

1BoaMe=100,000,000xUSD and will be traded as such.

The Other 999,999 will be locked away forever in the stellar blockchain, unless exchanged for the value established.

Grouponomy Economic Model

Boa Me Token seeks to distribute wealth that is powered by the people for the people. Essentially a bank built by the people, for the people. With the age of the internet, centralized owned and operated banks powered by a fiat currency are not the most effective way to manage currency. Particularly when it comes to wealth distribution. Central Banking systems thrive on holding fiat currency, to influence supply and demand, which equates the value of the dollar. The lower the supply the higher the demand, essentially reinforcing the have and have not structure. This structure is built form a necessity to authenticate every physical asset, to prevent forgery. In the 2020’s we no longer need trusted centralized authorities to authenticate an established value. Instead the modern era requires a group of people to determine the value of an asset. This value is forever established, and accurately recorded so long as the Blockchain exist.

Place of fiat currency in the Grouponomy

Although Blockchain technology used as a cryptocurrency is a great advancement for mankind, fiat currency should not be done away with, but role reimagined. Fiat currency is a group in the Grouponomy model as well as any other group. A currency doesn’t have to be distributed to the whole economy to work, just every entity with in the group. Fiat currency should be viewed as every other currency in the Grouponomy, limited and incapable of being distributed to the whole Economy.

Merging Groups with the Economy

The stellar Blockchain uses a method called Path Payment, here is how it works.

§ The sender in the U.S. holds dollar tokens and signals to the network they want to send peso tokens to the vendor.

§ The network searches through the decentralized exchange finds the best price for the sender.

§ The network locks in the prices and amounts.

§ The sender confirms the transaction and the dollar tokens leave their account.

§ The transaction executes and the recipient gets the peso tokens. The payment is atomic and submitted to the network as a single transaction. Neither side can get “caught in the middle” and hold tokens they don’t want.

Above, the sender in the U.S. doesn’t have to hold pesos just for their payments to Mexico. The recipient in Mexico doesn't receive dollars they then have to sell for pesos. Neither side has to manually convert; Stellar automatically finds the best conversion rate. Path payments are the fulfillment of Stellar’s interoperability promise: value flows seamlessly from account to account, in whatever form is most useful. This model can be scaled down, to groups within an economy.