The failure of monetary policy to control national economies has perhaps never been more apparent. Various cryptocurrencies have sprung up over the last few years in hopes of solving this economic “800-pound gorilla.” A major problem that cryptos face, and largely have not been able to overcome,, is that while they claim to not be centrally-controlled, or even to be controllable, developers hold a significant amount of power over the direction the coins take; evidenced by the fact that developer abandonment is virtually synonymous with financial loss in the crypto world.
Fibrecoin, branding itself as “…a digital currency that aims to empower the people,” wants to solve this problem. The original Fibre developers hope that adding three features to the coins culture can bring developer immunity: an advisory board, a “social giveaway”, and developer agnosticism.
Fibre is a new digital currency that aims to empower the people. It allows individuals to participate in the internet economy even when they live in countries where credit card companies and PayPal do not operate. Unlike other forms of payment, Fibre is not controlled by any single authority. No one can freeze your funds, impose a waiting period, or charge you arbitrary fees. Transactions are instant, cost almost no fees, and are irreversible. Fibre is secure, stable, and easy to use by design.
Fibre will be the first digital currency to have an Advisory Board consisting of community members. The FibreBoard will be made up of 20 community member that have more than 4,000 Fibre. The FibreBoard will collectively make decisions on the future of Fibre and which features should be implemented. All major decisions affecting Fibre will be voted on by the FibreBoard.
Concerning the Fibre Advisory Board – FibreBoard (from the Fibrecoin ANN thread):
Fibre will be the first digital currency to have an Advisory Board formed from it’s community. The FibreBoard will be made up of 20 community member that have more than 20,000 Fibre. The FibreBoard will collectively make decisions on the future of Fibre and which features should be implemented. All major decisions affecting Fibre will be voted on by the board. The board members will be selected at
random from the candidates that apply 14 days after the POW stage.
Regarding the Social Giveaway (form the Fibrecoin ANN thread):
To deliver on our promise of fair distribution we will be gifting 1% (10000 FIBRE) of the total mined coins to the community. All you need to do is socially interact with us by Liking, Following or tweeting us. There will be a maximum of 4 shares per person.
The currency will be divided by the amount of shares allocated.
Regarding Developer Agnosticism (from the Fibrecoin ANN thread):
Fibre development is not tied to a single developer, this reduces the risk to investors as a developer leaving the team would not affect the development of Fibre. Eventually we hope to have a pool of developers working on various Fibre based projects.