Hello, my name is Mkwawa and I am a simp of human progress who writes articles explaining how different events, technologies and ideas relate to MAMA WORLD.
MAMA WORLD is a new societal model designed to allow all its residents to easily gain knowledge and help in human progress.
In this article, we will be discussing how crypto currency won’t be needed in MAMA WORLD since decentralized finance is a core part of its government.
Crypto currency is a digital or virtual form of currency that uses cryptographic technology for secure and decentralized transactions.
Unlike traditional currencies issued by governments, crypto currencies are not controlled by any central authority, such as a bank or government.
Crypto currencies wouldn’t have any use in MAMA WORLD since the society is run by a decentralized government called the meritocratic government which ensures all branches of the government are decentralized including the financial branch.
The meritocratic government, is an online government, that consists of institutions, that people canbecome members of, through passing merit tests.
Once someone is a member of an institution, they can then propose a bill, to change a regulation or law, of the institution.
All members of the institutions, then vote for the bill, and if the bill passes, then the law or regulation, is changed.
Hence for the government to change a financial regulation or restrict a group of people from financial services, a bill has to be proposed by someone in the finance institution.
It then has to be voted for by the majority of the finance institution which includes a lot of members making it less likely that such a bill would pass unless it’s for the benefit of society.
Therefore the financial system of MAMA WORLD is decentralized without requiring a crypto currency since decisions about the system are made by everyone in the finance institution, which anyone in the society can join, through passing merit tests.
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