You are not alone.
In the last century, two dominant political systems emerged to govern over most populations; autocracies, as seen in North Korea, and liberal democracies as seen in South Korea and the United States.
Both political systems are equally prone to failure at serving their populations. It can be argued that liberal democratic systems have performed better than their autocratic counterparts, yet these results are often only apparent on the surface level. Even the liberal democracies that oversee successful market-based economies have managed to create a huge divide between the haves and the have-nots.
“The top 1/10 of 1% of the population has a net worth that is equal to the bottom 90% combined. The wealth gap is the largest wealth gap that there has been since the 1935 to 1940 period. And so while we have good conditions here, for the bottom 60% of the population, we have bad conditions. So, the averages don’t convey what the picture is because of this disparity. And so, what was tapped into and what we see is there’s a large percentage of the population who is hurting, and that there is a conflict between the “haves” and the “have-nots” and liberal ideas and conservative ideas and all of that. And we have a greater polarity.”
– Ray Dalio, Founder of Bridgewater Associates
With the exception of Singapore, autocratic systems all but failed. Consider North Korea and South Korea, for example, where both populations share the same ethnicity and where the only clear division is their political systems. The South is economically flourishing to the degree of 100 to 1 in terms of GDP per person while their northern counterparts are daily preoccupied with their survival. One thing both populations do have in common is that they are both increasingly being surveilled by the state as technology has made it more feasible for mass surveillance.
If the ideal money is a currency that can reliably and concurrently serve as a medium of exchange, a store of value, a unit of account AND provide investment value, then it seems Xank has reached all the required attributes, while providing for a stablecoin functionality on a per-transaction basis.
A decentralized and meritocratically governed cryptocurrency can offer financial stability in a highly volatile market to fund projects that are pressing for the betterment of our lives.
To maintain hegemony, one system collect taxes, and the other distributes wages. Both governance systems have failed as the Earth is being ravaged, waterways are increasingly becoming polluted, corporations are allowed to run rampant and destroy air-quality, industrial farming is depleting the soils and many regions are increasingly becoming uninhabitable, both for humans and native species and plants.
Both systems fail us economically as they resort to inflating the money supply to manage ever-increasing costs of servicing debt which deflates our assets and national wealth.
Both systems fail us as they spend taxes on military buildup and often senseless wars instead of education, health, research and societal well being. These systems become corrupt, overbearing, and ultimately, can turn oppressive, often in spite of their original intent.
The ultimate success of the Xank Network can be measured by the degree to which it enriches the people of the world with a true meritocracy that can scale to a global level – this is our intent. It is, therefore, no coincidence that Xank will share characteristics with Ray Dalio’s meritocratic model. Xank sets out to address the problems that are most vital to human survival and prosperity which are not being addressed by the current crop of governments and corporations. The Xank Constitution will act as a magnet to attract people to the Xank Economy based on their merit who will earn the ability to guide how the Xank Treasury funds are to be spent with a view to prolonging human sustainability on this Earth and beyond.
From the first draft of Xank Constitution Clauses below, we will draft a full version of the constitution and pass it through Xank DAO as one of the priority agendas.
Unfaltering guiding principles for the Xank DAO
Oppression Clause - efforts that aim to counter and eliminate the destructive forces of:
1. War and Military Buildup
2. Inflation and Quantitative Easing
3. Systematic Corruption
Pollution Clause - efforts that aim to provide for:
1. Clean Air
2. Clean Soil
3. Clean Water
Discrimination Clause - efforts that aim to eliminate discrimination of:
1. Ethnicity or Disability
2. Religion or Ideology
3. Sex or Sexual Orientation