Introducing LushCoinLushCoin introduces novel concepts that replace proof of work with an AI algorithm. It is proof that AI can do good.
LushCoin contains several innovations, but the standout one is the use of AI to evaluate inventions and innovations in order to generate money proportional to their projected economic impact on a host community. Out of this money, a project will be financed in the host community, a reward will also go to the inventor or innovator and to miners.
This is the first time a currency has been based on the potential of an idea to do real work, rather than on gold or on a virtual outcome. Because of this, LushCoin is expected to be immune to currency speculation.
In another novelty, AI, blockchain and cryptography are employed to provide unique signatures (called
intellectual form) for inventions and innovations, so that a concept can be cryptographically hashed and robustly identified wherever it may occur; furthermore, the differences between two concepts can be reliably and repeatedly quantified (good for derived concepts). This makes possible the radical idea to copyright or apply a license to the flow of a concept; so, making current patent procedures quite antiquated. Additionally, the
intellectual form can be recorded on the blockchain where both the immutability of the blockchain and date of insertion provide a date for proof of originality.
There are several benefits to LushCoin. The
intellectual form makes it possible to both provide protection for an original idea and still release it as open source. Instead of royalties, owners of original ideas are paid in blocks until they die. The application process also costs virtually nothing.
The combined benefits make it easy for a community to raise its geniuses and build businesses around them for the benefit of all.
There will be no ICO for LushCoin, because its methods make it self-financing.
LushCoin is still in the early stages, I'd love to hear any suggestions, corrections etc. Please read the white paper:
https://github.com/Grand-Axe/LushCoin/raw/master/Docs/LushCoinWhitePaper.pdfSource code will begin appearing at
https://github.com/Grand-Axe/LushCoin in the next couple of days.
I run an
unrelated AI effort at:
www.mindmutiny.com