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KRONOS, TIME CURRENCY

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KRONOS is a artistic proposal by  David Guez to create a new currency based on the Human Time.

Our financial system is based on principles of growth, borrowing and debt repayment. Our  needs to survive (food, transport, schelter..) makes us prisoners of the banking system and its devious effects it has on our way of living, understanding the world and exchanging goods and services.

Instead of basing the currency on inflation or deflation of an artificial value, Kronos substitute this value with the one which really governs these exchanges :

THE HUMAN TIME

1 KRONOS = 1 HOUR

It’s the time we spend to do, to create, to built, to teach…

Everyone has the same ‘day by day’ capital of time.

it’s pushing the idea of making an equivalence between all activities.

To do so, the Kronos is build on a complete decentralised and secure exchange system, an exchange platform which has to be is fair, equitable, holistic and can create trust
between people : The blockchain

THE KRONOS brings the concept of work and its monetary equivalent by replacing itwith the human activity and

temporal equity.


THE KRONOS is indexed on human time, in that it is completely egalitarian and

prevent speculation.


THE KRONOS challenges the notion of property and replace it with the notion of objects using value.


THE KRONOS creates virtuous circles of human activity.


THE KRONOS replaces the notion of social class by the notion of creators and users class.


THE KRONOS establishes an equivalence between all activities, enabling

unprecedented passages being impossible with paper money.

THE KRONOS is in a logic of common goods.

 


MANIFESTO

 <Pdf download> 


THE STATEMENT

The project starts with the overhaul of our exchange systems. 

On the principle of defining our needs to live – where Internet is a space that enables to change the rules of production, distribution and mediation. 

Where growing inequality is the result of specific malfunctions of the process circulation system, which governs all trades in good and services. 

That the issue of capital amounts to a massive inequality between people, which is no longer wedged to the values of the real but on the consequences of algorithms whose key role is the profit and not the exchange.

There is no more equity, no more balance.

On this acknowledgement that the whole governing system goes through an exchange mechanism equivalencies – whose strength is to make transparent the movement of goods and services: the currency.

That the transition from the barter system to the currency led to ‘streamline’ these exchanges, to set up an intermediate medium between transactions but especially to make invisible humans inter-mediators.

She also defined globally the concept of value, and the concept of the issue of profit , which under services : money.

Thus took the place of the human value of the exchange value, of the exchange and the value of the exchange value of the value of trade, creating profit, not human but monetary.

That this great movement invisible chain that makes account the value of the exchange, letting alone the human value of the exchange creates unequal balances.

Because although it maintains ecosystems in relative balance, it needs to meet the need of growth to introduce two other values: the loan and the time.

This time money is an invention that definitely ranks the human exchange value to the dustbin of the history of civilization.

Because that is the concept of borrowing and repayment in time, the main actors, banks, regulate trade by acting as an intermediate space between those who save and those who borrow, which irrevocably connects the humanity in said system.

Thus, this basic principle of selling a good or service in exchange for a paper that prints its value in the target can use it to buy a good or service in a system of equivalence established, has replaced the credit principle that makes a nonexistent value, the cost is higher than the actual cost of trade

So, wanting to introduce non-human speed in trade, in derogating from the principle of equivalence of the exchange by adding extra value, time credit that it has created a system of dependencies and linkages the intermediate systems.

It has also created a caste and elite, even those who abuse the system by accumulating the dummy values generated by the monetary system time

For more than the principle of supply and demand, it is the principle of the loan value of the money that creates inequality: inequality monetary and temporal inequality.

This system has the power of its own definition and its mechanisms and prevents de facto to get out because the time base is such that is the tombstone of the dying: A need the borrower to repay in a long time or out of the system.

The hundred years from unfold this system imposed on individuals as a single solution time to live.

It instituted a form of financial slavery, which now spreads to groups of states, to states and nations.

 

What is it you need to ‘live’ ?

 

This question arises in the context of a redefinition of our trading systems: this indeed delivers “flat” systems that govern us in finding ways out of these systems.

If it is to list our most primitive needs comprehensively, such as food, clothing, shelter, transport, heating, cultivate, entertain, we could organize lists more accurate to reach the following conclusion: can not produce everything by ourselves.

Then arrives an other conclusion: our ‘survival’ depends mainly on the other, so we are bound to each other on either our needs, in the most existential sense but also the most pragmatic of the term.

Our evolution makes us so interdependent on each other.

That this interdependence is based on the exchange as mediation vector.

And these medications in regulated sets of survival and evolution, allow to move goods and services to meet our needs.

Out, we saw that our current system, goods and services are aligned on a monetary system that clears their true value, the value of the past “really” to manufacture or distribute.

We also saw that this artificial value added is the value of the dummy borrowing, increasing the principle of financial speculation and the temporal sequence.

The questions then are the following:

How to support us in out of the current monetary exchange system of mediation?

How to make our activity, whatever its subject, can participate in the balance of a set of regulated exchanges?

The experiences out of the monetary system are numerous and often sets on a principle that has prevailed for thousands of years between humans: barter.

 

An interesting feature of barter is that it dispenses with the notion of currency and replace it with that of a mediation between two people or a small group of people that determine each transaction exchange value.

We call this value, value “medium”, ie an exchange value which is determined by discussion between two people, so by another exchange, the human: a form of negotiation will determine each transaction the possibility of exchange by defining its content.

The main drawback of this type of exchange, besides the fact that it is energy (each exchange requires negotiation) is that it does not allow the distribution of a value exchange for other goods or service.

For if I make jam, I’ll have to constantly negotiate their exchange against all my other needs and it is not obvious that I could find an equivalent for all services or goods that are necessary to me.

So it works well when there are a small number of products and little division of labor becomes less practical but on channels of trade and larger productions.

It is therefore unstable and precarious but offers an important aspect which has been distorted in our current system: the inter-medial overall value cleared by “the market” share of intermediate abstraction and the mass of exchanges that market.

But the system of currency, fixed on various benchmarks throughout the centuries, which has been linked to the wealth of mineral discoveries and disconnected from these values via the process of bank money creation, credit money, to finish on the concept of fiat money, keeps a fundamental virtue of its ability to make transactions liquid, thereby establishing all possible combinations of exchange between all assets and existing services and future.

 

KEEP THE IDEA OF A CURRENCY.

The idea would be to keep the notion of money without the disguise to a notion of unregulated profit on the actual value of the time spent on the production of goods and services equivalent.

DO NOT EQUIVALENT TO ESTABLISH SYSTEMS AND TRADE WITH OTHER CURRENCIES.

Another concept derived from the first to propose a currency that can not be exchanged via a system of equivalence with other currencies as it would keep the opportunity to speculation during his transfers to other currencies and prevent the disappearance and replacing the old system.

FIND A TRADE MECHANISM THAT WORK GLOBALLY.

The local currency systems have responded, in part, to these issues and many examples exist and function in the form of more or less closed systems, to levels that are used to operate a community, a village, a city view.
But these systems have been installed in parallel to existing national or international currencies. Indeed, the complexity of our current system and its globalization via the stock market and financial market completely prevent imagine a new currency that is not locked to the same operations. It is therefore necessary to devise other mechanisms to exchange globally where the new currency could
be exchanged.

THE INTERNET NETWORK

 

The Internet is the ultimate mediation space of our time. He abolished the spaces and develops new.
It creates this incredible and universal link between people offering goods or services and other people who need these goods and services.

These links should be supervised by the entities (programs) that allow changing the current exchange systems, and therefore, money.

These entities must be designed so as not to take advantage of the spaces that would favor the accumulation of quantities traded.

While in the conventional system, many intermediate systems require the creation of a dummy value to add to the overall cost of goods and services, playing the game of speculation and profit accumulation at the expense of the class creators (authors, producers, artisans …), the networked system allows for the abolition of this yoke, real machine to create power and inequality.

But for this, the network is not enough, because although necessary to connect and enable the exchange, it is a neutral vector that has no effect on the fiat currency vector today.

Thus, in a semi-ideal world network which is today reflected in the services of Community trade or in the solidarity economy, it lacks a fundamental element which would overcome the shortcomings of conventional monetary system: a currency not speculative who can establish the equivalence of exchange between goods, services and applications.

The arrival of Bitcoin, peer networking technology to peer (peer to peer) and the Blockchain have emerged in recent years the possibility of proposing a currency goes intermediate spaces (banks) while securing transactions.

So the exchanges are in strict anonymity and each exchange is secured by the multiplication of encrypted copies of transactions in the great chain of Exchange users that system.

THIS PRINCIPLE OF CURRENCY THAT WOULD FLOW WITHIN A GLOBAL NETWORK CRYPT AND SECURE IS POSSIBLE TODAY WITH TECHNOLOGY BLOCKCHAIN.


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