Freicoin: a peer-to-peer digital currency delivering freedom from usury

Freicoin is a peer-to-peer (P2P) currency based on the accounting concept of a proof-of-work block chain used by Satoshi Nakamoto in the creation of Bitcoin.

Unlike Bitcoin, Freicoin has a demurrage fee that ensures its circulation and bearers of the currency pay this fee automatically. This demurrage fee was proposed by Silvio Gesell to eliminate the privileged position held by money compared with capital goods, which is the underlying cause of the boom/bust business cycle and the entrenchment of the financial elite, and has been tested several times with positive results.

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0% interest, forever

Freicoin's parameters are carefully chosen to eliminate the basic interest component of investments, called the liquidity premium by economists. Usurious non-zero basic interest distorts the free market, incentivises poisonous greed, excess, and short-term thinking, and perpetuates a vicious cycle of boom/bust recessions.

Sustainable investments

Zero basic interest encourages sustainable investments, as long-term investments tend to be, by removing the time preference implicit inflationary (U.S. Dollar, Euro) or deflationary (Bitcoin) currencies. When business is conducted in Freicoin, participants value present and future holdings equally, and favor sustainable processes.

Stable long-term value

Demurrage forces freicoins to circulate at deliberately high rates. Separation of money's roles as store-of-value and medium-of-exchange allows money to flow when it is needed, in good times and bad. Our careful selection of governing parameters creates a currency whose value is stable with neither price inflation nor deflation.

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