I’d just like to formally introduce myself to the NEM community as my company is strongly considering NEM blockchain for raising our initial startup capital and as a base for continued development. I think it is important to introduce myself and my agenda properly so that my intentions are clear from the beginning.
I am from a small village in Ireland. When I grew up, a persons reputation was all they had. In the modern world, with increasing population density in urban areas, reputation is becoming less and less important. This allows people to hide in relative anonymity and pursue their own self interest unchecked. I, and from what I have seen of the NEM community you too, have not been raised like this. I believe in enjoying life to it’s fullest while also taking the time to consider how my actions affect others and future generations. For this reason, I focus my life on developing myself and people who work for me to live in line with our collective best interest. High population, high levels of disconnectedness and wanton pursuit of self-gain are bringing out the worst in people in the modern age, but thankfully there are a group of us still insisting that this is not the only way.
Decentralized economies, beginning with decentralized money in bitcoin, are allowing us the people, to take the power back. Hidden among the endless scheming and deceitfulness of the greedy here there is also the empowerment of the common person to take their best shot to improve the world in whatever way they can. I came upon bitcoin back in 2015 and have been present in the market on and off ever since. In 2017, when I came to understand the power of ethereum and the smart contract, I dropped everything and began to focus fully on blockchain technology. Through crypto, I have saved almost enough capital to be able to stop working for one person, and to work instead for the good of everybody. Don’t get me wrong, I enjoy my life, climbing, cooking, reading and travelling, but when I work, I want to be working for more than just money.
There are a number of big issues that confront our generation, almost all of them related to the environment. These include water shortage, plastic waste, depletion of fish stocks and air pollution. There are techniques in behavioral economics that cause people to easily consume less energy, less water, drive less etc. that can be implemented to reduce the environmental impact of each consumer, save money for them, and also increase profits for the providers of the resource. These techniques are the foundation of my project MarginX.
My solution is blockchain based. While seeking out the best strategy for us to get started, I came across NEM. I am still trying to understand the details of the NEM system and what it can bring to Margin, but from the very beginning I am really blown away by the efficiency of the community funding system. Most blockchains that have funds to invest in projects are seeking some some of monetary compensation for their investment. This necessitates projects to undergo ICO. As ICO processes become increasingly unfair, with early investors getting huge discounts only to dump on the common people post ICO, on a moral level the solution has become untenable. On top of this, such systems do not lead to the widespread adoption of the mother chain since companies are issuing their own tokens and then wasting their raises on developing new chains, often simply a fork of previous ones, only to finally leave their mother chain behind. NEM provides sufficient start-up funding for founders to avoid the ICO process altogether, as well as the right technical infrastructure to allow companies to build bicycles and cars, rather than wasting time making better marketable wheels. I hope that we can do our initial raise on NEM and in the future pay it back so as not to deplete this unique resource.
I look forward to telling you all more about my project. I am currently busy with securing funding to begin our development in earnest but once I am sure that we have enough of a headstart on any potential competition, I will begin sharing on the forums. I look forward to the community feedback and I myself am happy to be a part of this.