♾️Tokenomics
The section is being developed and full information will appear here soon
The rules for issuing the BLAGO token differ from the rules for the appearance of money in the current financial model.
BLAGO tokens are produced only when users submit data to the network that they have free funds that they are ready to transfer for management. That is, the number of tokens is equal to the amount of money in the hands of users and which can be used to cover the needs of users and the network as a whole.
All financial transactions are converted at the Bitcoin exchange rate to the local currency, thereby recording the value of the transaction at a certain point in time.
Read more in the Medium article.
All needs of users and the network are created in the form of NFT tokens. Requirements are closed in the order in which they were created.
The BLAGO project's approach to economics and monetary systems provides an innovative perspective on assessing costs and needs within a decentralized network. An example of comparing the cost of a product with the Bitcoin exchange rate and the number of Bitcoins in circulation demonstrates a new approach to determining value and the relationship between needs and resources.
Replacing the traditional financial model with one based on real human needs is an interesting step towards a fairer and more efficient economic system. This allows you to take into account and assess the needs of each network participant, creating a more accurate and balanced dynamics of supply and demand.
Using Bitcoin as a reference for estimating the value of initial needs adds transparency and versatility to the system, allowing you to easily compare and analyze values and resources within the BLAGO network.
The general introduction of such a system can help create a more efficient and equitable distribution of resources in society, which can ultimately lead to an improved quality of life for all involved.