The Token - Geekangels/concept GitHub Wiki

So what's all this about a private currency you're launching? In order to make Geekangels work in a decentralised way, we need economics. Simply said this means we need a way to encourage "good" behaviour and minimise unwanted behaviour. So the rule would be: it's economically unrewarding to cheat the system. There's only one way to gain value from it, and that's to play nicely.

With our own token, we can incentivise good behaviour. With one click, a client or a Geekangel can reward reviews, a clean customer interaction log, and off course a successful client interaction.

Our token is issued by a smart contract, living on the Ethereum blockchain. Tokens can be traded for euro's, or can be converted to other tokens used by our partners.

Fi; 2 Geekangels token = 10 Viking Points (mobile vikings is a Belgian mobile operator). 10 Geekangels token = 10 Media Market loyalty points

With every transaction, the Geekangels foundation gets x%. Again, this is all setup via smart contracts on a blockchain. How we spend the money is a question for every Geekangel. Every quarter the numbers are automatically published. Every Geekangel can vote for how the money is invested (for a limited time, voting should be a period).

In this way, the community truly can decide it's own future and destination.