Blockchain technology is used in several ways for the setup of the new, additional Economic System. By means of a socio-economic blockchain, the global socio-economic capital becomes transparent, usable, and available. A community of stakeholders is arising that makes know-how, experiences and support structures globally available; successes, the so-called seimpact, are measured, documented, and are monitored worldwide.
At the same time, a separate money (so-called SoBz) will be created in the blockchain for actually achieved seimpact and by existing social-economic creditworthiness, which enables the socio-economic system to finance new seimpact and social-economic growth out of itself. This new money can be earned by any socio-economic value added and – with appropriate social-economic credit ratings – can be created as credit money.
The use of blockchain technology grants worldwide and unprohibited access to a payment system and to coordination processes, and it allows the distributed, secure collection of data (for example in the context of surveys). These processes are stored in a both extremely transparent and permanently unalterable way at the same time.
While the established internet is for communication and exchange of information, the blockchain forms a new “internet of values”. A blockchain is thus the ideal basis for an additional Economic System, which is highly dependent on worldwide availability, immediacy and transparency. It will help to prevent corruption, support the development of a new value system and the implementation of a sustainable sharing economy.
Blockchain technology is certainly not the solution to all current technical issues and also will not be mandatory for every company and all their business transactions in the future. At present, many blockchain applications are simply implementations of usual and customary business processes in a more efficient way, which have been successfully effected in the past with a traditional approach.
It will be decisive to focus on the enormous benefits and potential of the technology that provides only the use of blockchain technology, and to develop solutions which – without this technology – so far were simply not feasible. This means less the transfer of traditional business segments into blockchain, but rather the development of new business fields and solutions based on this technology. This so-called Blue Ocean (the market potential through unique position) of blockchain technology is comparable to that of the Internet and its use has just begun.
A large number of existing and tried-and-tested blockchain projects is available for the technical implementation. Partly, the concept may even enhance their further development. The following aspects are particularly relevant:
• low entry barriers, transparency and a multi-level identification process,
• the combination of various data collection and storage methods in the system architecture (blockchain, state channels, and oracle applications) – using multi-dimension and multi-part blockchains,
• protection against manipulation of the system, protection against the use of the system for illegal activities and a “proof-of-reference” release mechanisms,
• use of scalable smart contracts for the implementation of complex decision-making processes and the assessment of seimpact, and
• implementation of social graphs, content hubs, and other community functions based on blockchain technology.
The basics of blockchain technology and its development and use for the implementation of DORIUM are described in detail in the DORIUM WhitePaper.