Silicon Valley Entrepreneurs Tokens eXchange (SVETX) Visionary White Paper


Silicon Valley Entrepreneurs Tokens eXchange (SVETX) Visionary White Paper


What is the issue?

Contemporary world's economic system has been created after more than three centuries of development during which two main forces - those of competition and centralization - defined the rules of the game where the main prize for the most of people, which are not born to privilege and wealth, is the simple day-to-day survival.

In the past two decades, however, both competition and centralization have reached an unprecedented level where they started to endanger the human race.

On the one side, the rapid progress of information technologies spearheaded dramatic improvements in AI and robotics, which, despite optimistic declarations of corporate medias, threatens to leave the majority of world's population without small but steady stream of monthly income.

On the other, as a result of century-long chain of mergers and acquisitions most of world's corporations and governments are now directly or indirectly controlled by rivaling politico-economic clans, which, combined with never seen before military might welded by those groups, creates immediate and real perils in everybody's lives.

Granted, today, most of us share an optimistic view that sooner or later either (depending on our political ideologies) representative democracy system's institutions or an authority figure will change the present self-distractive world's trajectory. However, it's hard not to notice that, as time passes by, this hope has became increasingly undermined by the brutal reality of ever expanding wars, nearing ecological disasters, and world's looming economic crisis.

As our hope evaporates and our survival instinct kicks in, it became more and more obvious that the sustainable socio-economic progress of our civilization is no longer possible within the old competition/ centralization paradigm.

There's currently no deficit in different World's salvation propositions starting from Central Banks abolition and ending by universal basic income adaption. Not to mention, of course, that each and every of existing political parties financed by this or that dominating clans, come out with the reform agendas of its own.

All of those proposed reforms require both external financing and centralized governance, which automatically will re-create the already outdated social and economic mechanisms in the future. However, there exists at least one viable strategy, which doesn't require a leader or a political party to be implemented. An anonymous paper named "Bitcoin: A Peer-to-Peer Electronic Cash System" published 31 October, 2008, proposed a mathematically proven algorithm by which, first time in their history, humans, even if divided by ten of thousands of miles, may now non-violently reach an universal consensus on two most contentious issues such as division of money and power.

This algorithm might both put an end to the dominance of the centralized institutions in our lives and to ease the Neanderthal killers urge, which defines all of our social and economic interactions. The fact that now we can simultaneously rely on the decentralized version of the universal truth to maintain the all-important trustworthiness in our day-to-day contacts and, at the same time, we can create and maintain our own economic value system is game-changing on all scales from the world-wide to a personal one.

That was the good news - the one that we now have the working plan how to improve humanity and the tool to implement this crazy plan into practice. The bad news, however, is that it might take very long, may be even generation-long time and will require the active participation of hundreds of millions of humans beings spread all across the planet. Might it be done on such a global-scale or not - nobody can really tell without trying and that is exactly what we want to do in SVETX project.

What is the proposed solution?

We believe that the main reform, which might alter the current long-term negative trend of the world economy on the total impoverishment of the great majority of population whilst only few really prosper is to transfer from companies-based to individuals-based economies.

Certainly, that doesn't mean that LLC or corporations will be extinct any time soon. Instead what we envision is to drastically increase individuals' economic and financial powers and, accordingly, responsibilities. The way we intend to do that is not only to allow everybody in the world to issue their own money (which had been already accomplished in the first iteration in 2014 when first contract-based crypto-currency was invented) but also to launch and grow their own, personal economies.

Moreover, we believe that this can be done without undermining the basic economic law, which requires that the amount of currencies in circulation to be adjusted to the current level of economic activity to not allow hyperinflationary processes to destroy population's wealth accumulated in its most liquid forms (like banks accounts or cash).

We can achieve that by including into economic circulation individuals' digital (virtual) capital accumulated during the past 30 years of the information revolution which brought to us Internet and digital money. We are talking about such seemingly immaterial assets as your professional skills, your future revenue streams from digital projects, your social networks accounts, series of your unpaid articles spread across hundreds of web-sites, numbers of likes on your videos, a collection of travel photos, your video-games collectables or your name recognition among popular forums users.

We propose to put that capital to work by issuing the corresponding amount of your personal tokens confirmed by an independent verification and followed by strict, accounting rules about how to maintain and change your personal balance sheet and financial records.

Another of our proposition is to allow you to exchange your tokens to other people's token those allowing purchasing of those individuals skills and assets. That already creates your own personal economy, where you have to regulate supply and demand for your own currency based on the state of your financial balances and successes of your virtual endeavors.

There's also one more important dimension of our project to consider - that it makes each and every individual's financial history available for immediate scrutiny and evaluation.

That might sound as a controversial proposition given that one of the main goals of the crypto-currencies is to make all individual transactions intractable. However, it is important to notice that we propose an absolutely voluntary declaration of individual virtual assets for which the said individual receives almost unlimited access to public credit at any place and at any time in his/her personal lives.

Certainly declaring your personal digital wealth on our platform and issuing tokens equaling this wealth to support your business projects or other activities won't allow you in the future to backtrack and to deny your own association with that wealth and tokens, which among other things makes tax avoidance impossible. Nonetheless, we strongly believe that dodging taxes or disobeying the law are absolutely not how we can make our collective future better.

At the same time personal, tractable tokens, which are linked to your social profile as well as to your business reputation will make any types of deliberate fraud almost impossible without causing an irrevocable damage to your future life prospects. The great power absolutely must came with the great (and automatic) responsibility.

On the global level and in the longer terms, making each and every individual in the world publicly accountable for its financial actions providing him, at the same time, with an open access to unlimited financial resources allows to diminish the influence of big, faceless, factually anonymous corporations, which only goal is to enrich a closed group of already wealthy dudes allowing them to constantly elude personal responsibilities by hiding behind mountains of legal papers.

Additionally, now a person might start to build his/her financial identity as soon as he/she became adept with a personal computer. This financial identity will grow in size and stay with a person all life. Rising capital those became the simple question of selling your personal tokens, which might now be considered as a form of public credit the breach of which will cost you your future.

Consequently, there won't be more such a need for highly structured and over-organized forms of business. Companies became smaller, more numerous, more localized and that will significantly decrease level of unnecessary competition, specifically in such industries as in food, beverages, groceries, clothes, arts and others, where applying individual works still can generate high qualities goods, without necessarily rendering to oversees workforce or robotics.

What is SVETX?

SVETX is the first in the world personal tokens exchange where everybody can trade his/her own currency for other people's skills, virtual assets and personal tokens. Uniquely, to participate in SVETX you don't have to own a dollar worth of liquid crypto-currencies or fiat. All SVETX transactions can be made in your own newly issued money.

SVETX in its first version is designed to aim at the fledgling Silicon Valley entrepreneurs, who can issue their own tokens, which might be used as personal promissory notes, to compensate early skilled contributers to their projects such as coders, designers or marketers. However, everybody, who want to bootstrap their own for-profit projects of various sizes (from a book or a new fitness iOS application to an art gallery or a grocery shop) but for a variety of reasons haven't been able to rise investments may also use SVETX to attract people's talents as well as their attention to it.

Note that SVETX doesn't allow you at the start to rise other crypto-currencies or fiat - only others people personal tokens, which you can use to increase people's awareness about your project or trade them for various skills necessary to implement your project into the real life. However, your personal tokens might with time became sufficiently popular among users to be included into the list of tokens which are exchangeable on SVETX to liquid currencies. To achieve that you have to extend the circulation of your personal tokens by actively trading with other users and purchasing their virtual assets. Also your PTBS must show the strong growth tendency without mushrooming Liabilities.

At the same time, we believe that to issue your own token on SVETX for a single limited purpose of kick-starting a project is not the most effective way to use SVETX to its full potential. With us you can do much better that that. You, literally, can make yourself a name in the growing crypto-universe, establish and maintain your own, unique financial identity, which will help you not only with your current projects, but will keep growing with time making all of your future business endeavors, social plans and life ambitions easy and faster to achieve. In short you are invited to look at SVETX as the first brick laid into the foundation of your personal financial future in the XXI century digital Epoch.