Worldfree’s primary aim is to build a free and more effective business network using an advanced and stable asset-backed cryptocurrency, in a virtual world accessed through natural language (normally-spoken language, initially English, but later multi-language). The company’s origin as a software developer with commercial software systems sold to many G200 companies for searching and delivering direct answers to questions from live, unstructured text is a value when brought to the cryptocurrency field.
Yet, there are other pressing problems with the blockchain technology that preclude its use as a vehicle for introducing Worldfree’s proprietary natural language reasoning technology. Chiefly, the blockchain is not a scalable technology, and the consensus method of decisionmaking often touted as an advantage, is in fact a disadvantage, as this White Paper discusses. There are better, more just, rational and equitable methods for decision making.
The cryptocurrencies themselves suffer from economically poor design in general. First among uses of currencies is as a medium of exchange. But as a consequence of their success, and early-stage design, today’s currencies are massively deflationary, if not generally unstable. As they rise in price (as if successful equities), their purchasing power likewise increases. This is seemingly good for owners, and encourages holding cryptocurrencies, but not spending them.
The crypto-economic world is thus stifled. Just as modern central bankers make great efforts to avoid deflationary environments because they stunt economies, a cryptocurrency must be designed to be a more functional alternative than fiat currencies, so that daily use for buying and selling other items is encouraged as a practical alternative currency for normal business needs.
The secure FreeMark is a medium of exchange engineered to preserve the purchasing power of your wealth. Unlike other currencies, it is backed by real assets. As the money supply grows, you earn royalties for owning the FreeMark.