Project details
Category
Blockchain, Entrepreneurship
JeremyCoin is an action research project exploring distributed business models, blockchain, and systems of value.
JeremyCoin (JCOIN) is a digital currency used within my network of trusted collaborators to exchange value. People can acquire JCOIN by forming a relationship of trust with me personally. Disbursement amounts are ultimately subjective and solely determined by me, but if you have worked with me on projects or have known me for longer, generally you have rights to more JeremyCoin. It is backed by a rate of 12,500 JCOIN for an hour of my time.
People with JeremyCoin post their basic information, including their hourly rate in JCOIN, what kind of things they will do for JCOIN, and any other info they want to give about themselves at the (very much under construction) site jeremycoin.jjk.fyi. This lets people in my trusted network find each other, and collaborate without using fiat currency by “purchasing” work from each other using JCOIN instead of fiat currencies.
The currency is built on Ethereum, and can be stored in any ERC20-compliant Ethereum wallet. It was created using the tokenfactory.surge.sh tool. To transfer tokens, the user must pay a small amount of Ether.
JCOIN is a social experiment exploring trust and social capital. Many online systems and platform, including in blockchain, claim “trustless” exchange as a selling point. However, I think its important to ask the question: when forming a network that is “trustless,” is it possible to not accidentally disincentivise trust? To explore this, the JeremyCoin system introduces elements that create incentives for direct incentives for trust between people through what would normally be considered inefficiencies: namely subjective allocation of the tokens, a reputation network based on “who you know” instead of publicly available metrics, and a really hard-to-use website that you would only use if you really liked me personally.
If you want to talk more with me about JeremyCoin, or would like to partner together on an action research project around an idea or topic you are interested in, please feel free to reach out at jjkirshbaum@gmail.com.
