Quote from: danzilla on September 21, 2014, 06:41:44 PM

I thought the whole point of crypto-currency was decentralization, and trust-less transactions.

I don't think that's the whole point of crypto. In fact, I think that aspect of crypto is much less important than the fact that crypto gives people the power to decide how money gets created.

Today, most currencies are created by banks when they make loans, mostly to wealthy people and big corporations. The money supply is created as a reward for being perceived as more likely to pay back a loan with interest to a bank.

Bitcoin came along and offered a new way to create a money supply, based on currency going to whoever has bigger and more powerful specialized computers, technical knowledge, and ability to afford lots of electricity to mine BTC. It took the power away from the banking system, which was an improvement, but it still does not incentivize anything good in the world.

SolarCoin is a currency that is distributed as a reward for doing something that benefits the planet: generating clean renewable solar energy. We plan to put the reserve currency under smart contract so that the granting process can be automated. Before that happens, it is being held securely by the people who launched this project.

We know these people's real names and you can read their resumes: Nick Gogerty and Joseph Zitoli. Both of them have held high positions in major companies in the finance industry. They are not average schmos; they have serious professional reputations. Each individual has to decide for themselves whether to trust that they will fulfill the plan to put the reserve of SolarCoin under smart contract so that it will no longer be held by the founders. Based on working with them on the SolarCoin project for over 6 months, I trust them to do so.