A peer to peer money supply protocol
What is Units?o Cryptographic currency, Units (XUN)o Real-time payments protocol (consensus model)o Peer to peer money supply protocol
Supports ‘IOUs’ for anything of value, like EUR, USD, gold or Bitcoin. Open source, free distribution.
Native XUN currency intended as a reserve currency not needed for payments.
How Does Units Work?o Native currency Units (XUN)
RAM memory bitso Unlike Bitcoin: double entry accounting. All balances in
RAM. realtime payments
o Unlike Ripple, multiple concurrent networks. build bridges
Technology developed by Donovan Hide (now hired by Ripple Labs). Open source. Needs funding to finish, test and launch.
Comparing Bitcoin to Central Banks
BitcoinDecentralized
Peer to peer
‘Digital gold’
Impossible to counterfeit
Fixed supply (21 million BTC)
Fixed inflation (algorithm)
Accidental deflation (loss)
No bailouts (Mt Gox)
ECB / FedCentralized
President to president
Fiat (=unbacked) money
Money printer
Arbitrary supply
Arbitrary inflation (“con job”)
No deflation since 1914
Free bailouts (=tax payer)
USD Monetary Base 1984-2014
1984
1985
1986
1987
1988
1989
1990
1991
1992
1993
1994
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2009
2010
2011
2012
2013
2014
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
Inflation = con job!“Change You Can Believe In”
BTC Supply 2009-2042
2009 2013 2017 2021 2025 2029 2033 2037 20420%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Inflation slows down over time, eventually stops(deflation: accidental
losses)
How Does Units Control Supply?o Democratic mechanism: vote with RAM.o More RAM inflation. Less RAM deflation.o Should create price stability in long term.
Economies need real-time, peer to peer money supply (“smart”), not fixed algorithms (“dumb”), not arbitrary policy (“con job”).
The Units Solution
BitcoinDecentralized
Peer to peer
‘Digital gold’
Impossible to counterfeit
Fixed supply (21 million BTC)
Fixed inflation (algorithm)
Accidental deflation (loss)
No bailouts (Mt Gox)
ECB / FedCentralized
President to president
Fiat (=unbacked) money
Money printer
Arbitrary supply
Arbitrary inflation (“con job”)
No deflation since 1914
Free bailouts (=tax payer)
UnitsDistributed
Peer to peer
Reserve currency
Impossible to counterfeit
Democratic supply
Shared inflation
Shared deflation
Shared bailouts
Team!I am sourcing a team of 8-12 people to launch Units.
• Q4 2014: source team; launch crowdfunding• Q1 2015: launch protocol alpha • Q2 2015: get VC funding
Mathijs [email protected]://getunits.org