The E-FAZ is the internet based structure in which there’re economic exchanges through the FAZ Money and in which is facilitated the wealth creation through free loans to individuals and companies, then redistributed to all E–FAZ participants through the basic income.
In the E-FAZ, the FAZ Money is issued in the form of FAZcoin, a demurraged cryptocurrency voucher. Actually there’re no cryptocurrencies that address all the FAZ features.
Solidar. Some of the FAZ features are implemented into the Solidar cryptocurrency. Solidar (SDR) is a cryptocurrency derived from Freicoin (FRC), that shares the codebase with Bitcoin (BTC), which implements the demurrage and basic income (www.solidar.it).
On March 2015, the Association Winc e.V. issued in the legal form of vouchers, 20.000.000 coins. All the coins were donated to the Association. The 1% of these coins will be distributed as reward to miners and the 99% will be distributed to the Solidar system participants as universal basic income.
Solidar Universal Basic Income. The Association Winc e.V. distributes basic income through Facebook. Participants can subscribe to a Facebook page and through the Facebook Messenger can send some commands to a chatbot on the page. Through these commands, they can ask the chatbot to create a online exchange wallet on which to receive the basic income, they can ask to transfer funds to other participants to buy goods and services, they can ask to inquire the online exchange wallet balance, they can ask to transfer their funds from the online exchange wallet to their cryptocoin wallet. Demurrage fee of 20% yearly is applied on the participants’ wallets. Every 10 minutes a very small percentage of SDR in the participants’ wallets is returned to the Association wallet.
Solidar Exchanges. To facilitate the exchanges between the participants, the Association Winc e.V. will promote the creation of a multivendor e-commerce website. Individuals and enterprises will subscribe to the website, which will be similar to Amazon, and enterprises will open shops on the platform. All the goods and services will be priced with a compound price, expressed by a value in fiat currency (euro, dollar) plus a value in solidar, to be paid with a split payment method. The individuals will pay using a their paypal account with debit/credit cards for fiat currency partial payment and their cryptocoin wallet for solidar partial payment. The vendors will receive payments in fiat currency on the their paypal account and payments in solidar on their cryptocoin wallet.
Solidar Loans. Solidar loans to fund projects will be implemented through a P2P microlending platform, also working with split payment.
Further development is expected.