Why build a Weconomy?
A new kind of sharing economy
The vision for Weconomy is to build a new kind of sharing economy, which helps financial inclusion for people all around the world. Weconomy will help many unbanked claim financial independence by enabling them to sell services and products and essentially monetize their time.
Are you good with animals and want to spend your spare time with dogs? There might be someone who needs your help and would give you money and good Karma for it. In Weconomy help can be delivered in numerous ways easily with a touch of button without any intermediaries.
Easy access for all
Blockchain technology is key in providing fair and efficient financial services for everyone. Weconomy will realise this vision for everyone by providing a truly easy-to-use platform where no technical knowledge is required to access the global sharing economy. All that is needed is a smart device and an internet connection.
Trust others with the help of Karma.
Karma is how users get rewarded for their service in addition to the monetary value. Karma is a decentralized rating system that will help establish trust between two users. The user’s actions on in the Weconomy platform will be directly reflected in their karma rating. This means the user’s karma rating will go up when they deliver on their duties and down when they don’t. Users with low karma rating would find it more difficult to make business, which would incentivise them to provide better services to increase their karma rating.
How does Weconomy work?
Join the Weconomy, it's easy as downloading an app.
Weco is the app of Weconomy. It will be released as an easy to use application for web and mobile clients.We aim for a great user experience where no technical knowledge of blockchains and cryptocurrencies is needed. You can simply download the app and get a free airdrop of currency to get started.
Stay tuned for a MVP.
Start helping others by selling your services or products.
Weconomy enables anyone to sell anything to anyone, bringing together the service provider and the customer with an easy to use app that simply works.
The user does not need to know anything about cryptocurrencies or blockchain. By default all prices will be denoted in local currency and Weconomy takes care of necessary conversions in the background leading to a frictionless user experience.
Because Weconomy uses Bitcoin as the underlying asset, the users will benefit from the existing infrastructure such as a vast network of ATM:s for cashing out or topping up using local currency.
With the advances in AI (artificial intelligence) and robotics, it is clear that traditional jobs won’t be that easy to secure in the future. Weconomy attempts to solve this problem by helping people find their meaningful and valuable roles better in the transforming economy.
Weconomy is for absolutely everyone. And for everything.
Karma is how you get graded for your service on the platform.
Karma is a decentralized rating and reputation system that will help establish trust between two users.
The user's actions on the Weconomy platform will be directly reflected in their karma rating.
This means the user’s karma rating will go up when they deliver on their duties and down when they don’t. Users with low karma rating would find it more difficult to make business, which would incentivise them to provide better services to increase their karma rating.
An exampleTom is going through some stuff in his life and for some reason can’t give his two dogs quite as much attention as he would like. John is a stay-home dad and would love to but isn’t able to keep dogs in his apartment. Tom now announces on the Weco Dapp that he needs some help with his dogs. John sees the announcement and responds. They make an agreement using Weco Dapp denoted in the local currency utilising the trust provided by each others’ karma ratings.
Provided that John delivers on his duties, Tom may give him 1, 2 or 3 (good) karma points depending on his performance. In case of bad performance, Tom may give John negative (bad) karma instead.
Users with a lot of negative karma may be flagged by the platform. For example if a user gets a set amount of bad karma in a short period of time, the user could be “put on ice” for a set amount of time. This would mean their announcements would become invisible for a period of time and withdrawals restricted.
Treasury and Tasks will ensure the development of Weconomy.
To ensure the future development of Weconomy, a treasury model is proposed. The treasury will be a smart contract coded using RSK (Rootstock)
Each transaction inside Weconomy will include a small percentage cut that goes to the treasury smart contract. Any expenses of the project as well as development will be paid from the treasury.
The treasury is also used to pay new users their welcome bonus. This is a set amount in Bitcoin denoted in local currency that the user can only use to buy goods and services inside Weconomy. This is a way to incentivise new users to experiment with the platform without monetary risk.
Weconomy is a fully open source, leaderless, decentralized community. This means every development on the platform is subjected to community vote. This is referred to as “Tasking.”
Voting weight is issued based on the user’s Karma rating.
Each user has the ability to submit a proposal for a new feature or to report a bug (later “Task”). Tasks will be listed in development or debugging pipelines respectively with a Task specific bounty attached. The bounty will be calculated based on the estimated amount of work and paid from the Treasury). From the pipelines, each user is free to vote for a task to be fixed or implemented. This will result in a prioritised list of tasks for the development community.
A developer may submit for the top prioritised tasks only to avoid cherry-picking.
Once a task is successfully submitted and approved by another vote by the community, it becomes a part of the Weconomy core code and the developer will be paid the bounty associated with the task. After a task is resolved, next prioritised task will become available for submission.
All based on the power of Blockchain and Smart Contracts
All transactions between users are based on Bitcoin and RSK smart contracts. Further technical details will be presented in a whitepaper.
Development of technology and whitepaper release
Development of necessary technology. Beginning of mobile and web app development.
Community building campaign
Campaign to raise awareness of Weconomy and it's mission. Also involve key partners and stakeholders. Further development of Weco mobile and web apps.
MVP release. Treasury fundraising.
Release of MVP of apps.
Treasury funds will be raised in a ICO fundraising.
Public Weconomy meetings
Team behind Weconomy
Background in co-ordinating multi-million commercial properties’ renovation projects has given him a firm grip on project management.
Other current roles: Chairman of the Finnish Cryptocurrency and Blockchain Association Communications Manager at Enex Solar (enex.solar) Public Spokesperson for Bitcoin and Blockchain
Tuomas has a background in international development. He has been involved in aid projects since early 2000's, ranging from the rural Internet to education, agribusiness, refugee camps and solar energy. Currently, Tuomas develops products around Hashgraph other and lattice-based algorithms. His cryptocurrency -related projects include Mundobitcoin, a remittance service and ATM network and spacechain.org civilian space program. Tuomas has also sold solar power projects for consumer sector in Finland. Tuomas studies energy technology at Savonia University of Applied Sciences.
Henri is a software engineer studying his last year at Metropolia University of Applied Sciences. Henri has been in crypto since 2013.