Fairshare
Philip Rosedale
FairShare is on a mission to combat ever-increasing economic inequality by implementing an automatic wealth redistribution mechanism. Spearheaded by Philip Rosedale, the founder of the virtual world Second Life, this project aims to address the shortcomings of existing financial systems.
In contrast to conventional cryptocurrencies, which tend to concentrate wealth in the hands of a select few as their value appreciates over time, FairShare is engineered to maintain the stability of its currency value while simultaneously redistributing a fraction of every transaction evenly among all users. This innovative approach creates a decentralized form of basic income that distributes wealth without relying on a central authority.
According to Rosedale, the inherent nature of free markets exacerbates inequality, necessitating the establishment of a straightforward, decentralized mechanism for recirculating currency. He contends that current monetary systems, whether government-b