Goodomy's Core Strategy:

The 'Retaildollar'

 
Sep 08

The strength of the US dollar is in its petrodollar status. The strength of the Goodomy dollar will be its 'retaildollar' status.

The US dollar used to be on the gold standard where every unit of currency was tied to a specific weight of gold or silver. Now, cryptocurrency rests on the 'block standard' where every unit of crytocurrency is tied to a specific weight of cryptographic processes called block height.

If the gold standard represented a three-dimensional economy where we measured values related to physical space, then cryptocurrency represents a four-dimensional economy where we measure values related to time. (We could say, for example, that a coin's value was $123 at block 12345, which is a specific point in time in the blockchain.)

Four dimensional economies didn't start with cryptocurrency. Once the US dollar was detached from the gold standard it moved to a higher dimension of economic value, helping the US to become the most powerful economy in the world. The shift to the fourth dimension wasn't smooth, however. It initially brought with it high inflation, over-spending, and high oil prices.

Without this fumbling, though, the US would have never been desperate enough to convince OPEC to accept only dollars for its oil. In return, the US provided security to Saudia Arabia and its economy. This ingenious move meant that other countries around the world would need to export goods and services in order to get the US dollars they’d need to buy oil.

The US put itself in a position where it could just print more of what it needed for trade, giving itself a unique advantage that other economies could not match. With all the importing and exporting that resulted, globalization was put into hyperdrive with the US at the top of the heap.

With Goodomy, we are moving beyond the fourth dimension and pioneering the fifth economic dimension by removing ourselves from the 'gold standard' of Bitcoin-like value stores. Where Bitcoin's store of value is limited to its 21 million Bitcoins, Goodomy's store of value is limited to the number of products and services that can ever be produced and offered to its users. It has no upper limit.

Here, our genesis block becomes free of the restrictions of time and space. In the fifth economic dimension, the genesis is everywhere.

If the retail industry was OPEC, then Goodomy's economy can become a cryptocurrency superpower by making it so that more and more retail stores and other small businesses need to use Goodomy if they want to 'export' their products into the hands of consumers.

Goodomy's model can help protect businesses' cash flow in ways that no other cryptocurrency can. There would be no need for a shop to accept any other cryptocurrency, as our exclusive economic model would be a far more valuable proposition for them.

With the Fiat Mining methodology we're not limited to the amount of gold we happen to have in our vaults (as other coins and tokens are) but the amount of money that someone spends on goods and services in their lifetime, multiplied by the world's population.

Essentially, Fiat Mining is a way for small businesses to enable customers to 'mine' for fiat currency on their behalf. As fiat currencies migrate to cryptocurrencies over the next 10 years, Goodomy is positioned to become the US dollar's digital shadow. In a good way, of course.