The WordPress Faz Base is a partial implementation of the E-FAZ that uses an existing demurrage based cryptocurrency. The candidate cryptocurrencies are:
- Solidar (SDR) http://www.solidar.it | https://github.com/wincev/solidar
- Freicoin (FRC) http://www.freico.in | https://github.com/freicoin/freicoin
The adoption pros/cons of each of these cryptocurrencies are explained in the article “FAZcoin, Freicoin and Solidar”.
We need to create an internet infrastructure, where users can subscribe, can open web wallets where to receive the cryptocurrency UBI funds and can spend them on a marketplace, using partly the cryptocurrency and partly a fiat currency.
Our goal is to facilitate the creation of productive/distributive chains in which it will be possible to spend the cryptocurrency only. To reach this goal fastly we think is needed to adopt a dual currency system, with prices expressed partly in the cryptocurrency and partly in a fiat currency (dollar, euro and soon). For example on the marketplace a teapot could cost 5 SDR + 5 EUR. In that way the user will pay partly using the cryptocurrency stored in his web wallet, and partly using a fiat currency through his credit/prepaid card. The user will see the system as a discounted fiat currency payment (UBI is given for free, so he really pays only 5 EUR). A market like that is competitive with an ordinary market due the reduced price of goods, but at the same time is helped the creation of a parallel market working only with the cryptocurrency. So, more the marketplace is used and more the cryptocurrency part of the price will increase and the fiat currency part will decrease.
To create the FAZ Base we need to setup a website with these features:
1) A WordPress Multisite site. We could create a WordPress Multisite site (with subdomains’ based sub-sites) where users can subscribe to create web wallets.
2) A WordPress based web wallets’ system. We could create a web wallets’ system based on WordPress, in which users can deposit the cryptocurrency, withdraw, and transfer it to other users. Our goal is to create an users’ easy-to-use interface like the one adopted on MannaBase https://www.mannabase.com/ but unfortunately their code is not reusable because is a closed code. To do that so we could use this open source plugin:
The plugin works with a bitcoin/altcoin full node, but also with a cloud wallet as CoinPayments. https://www.coinpayments.net A paid cloud wallet hosting account on CoinPayments costs 120.000 USD/year and a full node is not easy to setup and mantain. Then to connect the first plugin to the CoinPayments API, we could use this open source plugin:
3) A WordPress based UBI donation system. After we have web wallets working on the WordPress site, we need to send cryptocurrency UBI funds to users each month. To do that we could use an open source plugin developped for airdrops:
5) A WordPress based multivendor marketplace. After the users have their web wallets and the UBI funds on them, they need to spend them, so we could setup a multivendor marketplace based on Woocommerce plugin and Dokan sub-plugin:
4) A WordPress based dual currency payment gateway
After the multivendor marketplace is created, the users need to pay goods and services using the cryptocurrency in their wallets and the fiat currency in their credit/prepaid cards. The bitcoin/altcoin payment gateway for Woocommerce is already developped, so we could use that open source plugin:
and the fiat currencies payment gateway for Woocommerce (based on Paypal) also exists, so we could use this open source plugin:
6) A WordPress based dual currency Woocommerce plugin
The dual currency Woocommerce plugin has to be written.
The action required is to write a Woocommerce plugin that has these functions: a) express goods and services’ prices in a cryptocurrency plus in a fiat currency on Woocommerce. b) Chain up the Woocommerce altcoins’ payments gateway and the fiat currencies’ payments gateway so to make possible for an user to make a dual currency payment.
Here’s the flow chart of the requested plugin features: