In March of this year, we released version one of our whitepaper, which explained
what IDealCash was all about, and explained our vision going forwards. Now, three
months later, we embark on version two of our whitepaper. This whitepaper has
been co-authored by our extended team consisting of key community members that
have shown great support and interest in the project.
The IDealCash Dual-Economy
We propose a new economic model, a dual-economy for IDealCash. This dualcurrency model is described herein much more detail (readme).
Here is a quote from the aforementioned article:
The phrase “multiple payment systems” typically brings to mind objects such
as checks, credit cards, debit cards and, more recently, “smart” cards.
However, many countries throughout history have used more than one
currency at a time. In fact, although we tend to forget it, the use of multiple
currencies as media of exchange in the United States was common into the
1930s. During its bimetallism period, the United States used two different
government-issued commodity monies: gold and silver coins. More recently,
we observe two-currency payment systems in developing and transitional
economies, in which many modern payment systems are unavailable.
Nevertheless, citizens may adopt a dual-payment system by using the dollar in
addition to their own locally issued fiat currency as a medium of exchange,
store of value, and unit of account.
Dual-currency crypto economies will start to flourish and persist more today and
through the future as a way to avoid devaluation of the main original currency, and
avoid unstable, unreliable banking systems, and government restrictions on your
trade while using any different forms of payment.
We believe that a dual-currency model can work for IDealCash. IDealCash (DEAL) is
analogous to silver (i.e., currency for data-to-day transactions) and IDealGold (DEALT)
is analogous to gold (i.e., the primary store of value).