Why is Gini Different?
The Gini whitepaper summarizes many reasons why Gini is different from other cryptocurrencies/blockchains, but some people may not have time to read the whitepaper and all the other articles in the Gini Knowledge Base. So, here we briefly summarize a few of the most significant concepts and features that make Gini different.
Think about the most influential countries, organizations and products in our world today, e.g., USA, China, Apple/iPhone, Microsoft Windows, Tesla, Vanguard, Amazon, Alibaba, Google, Red Cross, YMCA/YWCA, Salvation Army, Amnesty International, Boys/Girls Scouts, etc. Why were all those entities different on day one of their existence? It was not their technology because on day one their technology didn’t exist. It was not their wealth and power because they didn’t have any wealth or power on day one. They were different because they understood something about their industries and/or something about our world that other organizations did not have the ability, awareness and/or incentives to truly understand or accept.
Philosophy Drives Engineering. After recognizing that they had unique insights, those organizations worked hard to deliver products, services and/or cultures that captured the essence of their unique understanding of the world. They designed algorithms and technical systems that expressed their unique perspective in the form of software code, electronic circuits, physical products and organizational processes and structures. By connecting philosophy to technical and cultural design, these organizations evolved into platforms and ecosystems that serve (and sometimes exploit) large human populations on Earth today.
For Cryptocurrencies, Economic Philosophy Drives Everything. No other cryptocurrency project today seems to truly understand real-world economics. We don’t mean that disrespectfully; we mean their understanding of “economics” is based on an economic ideology (a puritanical form of neoliberal/libertarian dogma) that literally ignores the real-world economic history of every successful economy on Earth today, including the economies of the U.S., U.K., Japan, South Korea, China, Germany, Singapore, Chile, France, Canada, etc.1 Real-world economics is about developmental economics, not neoliberal economics. The importance of this cannot be overstated because the economic philosophy of a cryptocurrency project dictates how the team designs their algorithms, blockchains, consensus protocols, network architectures, community governance, and many other aspects of their ecosystems.
Flawed Economic Philosophies Produce Flawed Economic Systems. Because all the other major crypto projects today are driven by a neoliberal economic philosophy, they’re creating economic systems that simply replicate all the problems of the fiat world within the crypto world. This is not merely a stylistic issue; it’s a fundamental mechanical design flaw that inevitably produces all the socioeconomic problems that plague the fiat and cryptocurrency worlds today. It’s a problem that exists because the engineers of those systems don’t truly understand real-world economic and geopolitical history. Without a strong education in real-world economic and geopolitical history, it’s impossible to fully appreciate the significance of the flaws in their systems. Nevertheless, any conscious human can see the human and socioeconomic consequences of these design flaws with their own eyes.
Learning from Established Emerging Market Principles. There are well-established steps to growing an emerging economy, but every other cryptocurrency project today is ignoring these principles because their neoliberal ideology will not allow them to see or accept these principles. It’s not entirely their fault: Schools in most parts of the world don’t teach real-world economics anymore because their curricula are dominated by the largest governments and corporations today. Specifically, the politicians in the most dominant countries do everything possible to conceal the economic and geopolitical principles that guided their own economic history. This might seem like a conspiracy theory, but anybody with a solid real-world economics and geopolitical education is aware of this reality.
Why Do Powerful Countries Support Neoliberal Economic Policies? After a country’s economy reaches a certain size (e.g., global or regional hegemony), they start promoting neoliberal policies because it makes it easier for them to dominate the global economy in many ways. With propaganda and abusive policies, they start forcing a particular kind of “free trade” onto other countries in their sphere of influence. This enables large economies to manipulate the capital flows, currency values, interest rates, commodity flows, trade flows, banking systems, industry regulations, legal regimes and many socioeconomic and political dynamics in smaller developing economies. This enables the politicians in large economies to restrict and manipulate the economic growth of small economies so that they never challenge the dominance of the large economies.
Emerging Market Community Governance. Successful economic development requires foresight, organizational discipline, knowledge of developmental economic principles, and the resolve to ignore pressures from special interest groups, aggressive investors and speculators that seek to exploit the system simply to get rich quick. Staunch neoliberals/libertarians reject the principles of developmental economics because they incorrectly equate “free market” with “no restrictions”. Their ideology ignores the history of every successful economy on Earth. Literally every successful economy on Earth imposed strong restrictions on capital flows and cross-currency trade for decades before they gradually opened up their economies to relatively unregulated cross-currency trade.
Cryptocurrency Consequences of Neoliberal Economic Policies. Cryptocurrency projects that don’t roll-out their currencies and ecosystems like a nascent industry of a developing economy will never be stable, equitable or sustainable. That means they will never be viable for real-world commerce. They will have too many pressures to placate speculative profiteers and market whales. That guarantees that their money supplies will be perpetually concentrated in the hands of a few crypto oligarchs, which destroys the integrity of their ecosystems. They reject solutions to all these problems based on provably false assumptions that blind them to economics in the real world. For example, they assume that built-in ecosystem stability mechanisms are “communism” or “anti-free market” and other nonsense that I’ve heard when debating brainwashed zombies in other crypto communities.2
The Dirty Crypto Secret. Many crypto traders love currency volatility because it’s a lot easier to get rich and suck wealth out of the market when the price of a cryptocurrency can skyrocket at any moment. The steep price rise/fall gives more experienced traders opportunities to manipulate markets and fleece the newbies. Additionally, given the oligarchy of Bitcoin and other crypto mining pools today with their USD billions invested in the existing infrastructure, none of them have any meaningful incentives to make changes that would significantly reduce their power and profitability. Thus, there’s no rational reason to believe other cryptocurrencies will ever become more stable, equitable or sustainable.
Unique Software & Technical Design. In contrast to other cryptocurrencies, Gini’s software code is written with the Haskell programming language, which has several unique features that ensure Gini’s software is provably safe, secure, scalable and reliable. Gini’s unique Trust Protocol and corresponding Dynamic Proof-of-Commitment (DPoC) consensus protocol, Ecosystem Stability Mechanism, Value Streams System, and decentralized Community Governance System are only possible because of Gini’s particular economic philosophy. None of these features exist in other cryptocurrencies today because their teams are guided by puritanical neoliberal/libertarian economic philosophies that cause them to believe that “free market” = “Law of the Jungle“.
Why is Gini a “Platform”? There are many cryptocurrencies today, but none of them are designed to create and promote real-world economic development, stability, equity and sustainability. All other major cryptocurrencies today are exploitation platforms because their philosophies and architectures inevitably concentrate wealth and community governance power into the hands of a tiny number of entities that have profit-seeking incentives. None of the other crypto/blockchain teams that we’ve seen have enough real-world knowledge and experience in all the relevant domains (e.g., real-world economic and geopolitical systems, ecommerce systems, payment systems, banking systems, etc.) to truly understand why the global fiat economy is collapsing, how this affects people in their daily lives, and how to design decentralized systems that don’t repeat the same fiat problems in the crypto world. For all these reasons, Gini is much more than a “cryptocurrency”; Gini is a decentralized, nonprofit, nonpartisan economic development platform.
Unique Purpose. The word “Gini” captures the conceptual and mathematical essence of Gini’s purpose. This nonprofit, nonpartisan purpose is in our organizational DNA. No other cryptocurrency project today is truly committed to creating decentralized, stable, equitable and sustainable monetary and community governance systems. If they were, they would not be building their systems based on the puritanical neoliberal/libertarian fantasy of pure free markets. If they truly wanted to fix the problems that plague all other fiat and cryptocurrency markets today, they would be doing what Gini is doing now.
So . . . Why is Gini Different? If you’ve read everything in this article and followed some of the links to learn more about Gini’s uniquely equitable and sustainable technical architecture, we hope you agree that Gini’s economic philosophy, decentralized monetary and community governance systems and corresponding architecture are truly unique. If you agree with that, then we hope you also agree that Gini is likely humanity’s only chance to see a cryptocurrency market grow the way every successful fiat economy has grown throughout human history. But unlike fiat and other crypto ecosystems, Gini is structurally designed to grow into a truly stable, equitable and sustainable ecosystem.
1. The Gini Book List contains nearly 100 highly rated, well-documented books for anybody who wants to develop a deep understanding of how real-world economic and geopolitical systems work (and often don’t work) on Earth today. However, for people that simply want a brief overview of the reasons why all the most successful countries today absolutely did not embrace so-called “free trade” when they were in development mode, read Bad Samaritans and then read Broken Capitalism: This is How We Fix It.
2. “Zombies” might seem harsh, but the only reason we launched Gini was because we became frustrated with the deep ideological blindness and nearly complete ignorance of real-world economic history that plagues the cryptocurrency world today. Several of the Gini team members were previously involved in other major crypto projects, but we were frequently sucked into toxic debates with brainwashed kids barely out of college and self-serving crypto whales. The kids and whales read a few Ayn Rand, Hayek and Rothbard books and then assumed they knew everything about economics. At a certain point, we realized those other crypto projects were doomed for many reasons. That’s when we realized nothing would change in the crypto world unless we stopped talking and started building. That’s when Gini was born.
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