The crypto community is expanding with new currencies centered around Bitcoin 2.0, some of which are increasing the possibilities of the Bitcoin ecosystem. Many of these cryptocurrencies give the possibility of the creation of contracts, surplus sharing and many more, built completely on the Blockchain.
One of these is Permacredits, a completely green credit that is creating an ecosystem to support permaculture and the future economy. Much like other Bitcoin 2.0 currencies, Permacredits are attempting to solve a problem. Xavier Hawk, a leader in permaculture and staunch supporter of cryptocurrency, is using Permacredits to create an ecosystem where anyone can enter into it. In combination with Hawk’s founding of eco-village Colony Earth, Permacredits and Bitcoin will eventually be used to fund the economics of the permaculture community.
Bitcoin Magazine had the chance to interview Xavier Hawk and attain more information on Permacredits and the permaculture movement.
Bitcoin Magazine: What projects have you been involved in besides Permacredits?
XH: I was a business consultant for many years. Soon after, my wife and I founded an eco development called Colony Earth, which I designed to run on Bitcoin and other alt currencies.
BM:How did you first hear about Bitcoin?
XH: I was looking for solutions for Colony Earth to have a local currency and found Bitcoin in late 2012.
BM: Could you explain what Permacredits are, how they’ll be used, and what locations will start to use them?
XH: Permacredits are Bitcoin 2.0 in action. They are a currency, an asset, a stock, a ledger, and a tally all rolled into one. All the vendors and villages in our network will accept them as currency, paying for things like rent, salaries, groceries, Permaculture Design Courses, books, apps, and more. We will be selling Permacredits and using the BTC we raise to fund Triple Bottom Line permaculture based businesses around the world.
So let me be clear here – This is the first time a coin is being used to directly build a market. It happens to be a market that is based on values like sustainability, rejuvenating soil, taking care of people and ultimately producing profits. Permacredits are actually backed by voluntarily gifted surplus profits, and have a base floor price equal to those profits shared back into the network by the businesses we fund. As we add more businesses and those businesses succeed, they gift a growing surplus back into the system across all Permacredit coins, and they raise in value. Essentially it is backed by the hard work, ingenuity, and profits of the entire world of Permaculture based businesses. Permacredits is a vehicle to transform the world into a healthy, sane, more balanced place for future generations and make money doing it.
BM: Will there be any Bitcoin to Permacredit exchanges?
XH:Yes, fungibility is one of our main focuses as it relates to the economic ecosystem of Permacredits. In fact, we are communicating with a number of exchanges and other solutions in order to provide easy entry and exit points for everyone in the ecosystem, the holders of credits. There is a great deal of interest we are receiving based on the unique nature of what Permacredits do and how they really stand out. With platforms like Ripple and new decentralized exchanges coming into play we have a lot of other options as well. What is even more exciting to me personally, is that we are developing some outside the box avenues that will increase adoption in markets that Bitcoin hasn’t yet even entered.
BM: How are Permacredits stored?
XH: We are currently using the Counterparty platform to issue and store credits. Their GUI is extraordinary and the developers there are excellent. We are ready to issue now with a fully functioning wallet, and they are working with us to tailor the functions and branding of those wallets directly for Permacredits. Since this is Bitcoin 2.0 in action, and rides on Bitcoin’s blockchain, you can store your credits in any bitcoin wallet. There are some caveats with that however, and you will not receive the full functionality in a wallet not designed to specifically handle Permacredits.
They are not mined. They are 100 green in that regard. They are a user created asset built on Counter Party, which provides us with the ability to be quick and flexible to respond to the market.
BM: What will you do to make Permacredits easy to use?
XH:Part of our first issuance will be earmarked for bounties and network development, unlike Bitcoin which had to bootstrap the entire network based on first mover organic discovery. We are in a position to actively engage vendors and build the network of places that accept Permacredits. Like Bitcoin, there is little risk because it can be converted directly into old money. We will have a directory and this will make it easy for holders of CREDITS to find locations that accept them. Also we are looking at integrating some straight text messaging platforms for our friends who live where smartphones do not.
We are also developing a decentralized decision making app that will be where Permacredits holders can choose new projects entering the ecosystem to get funding. The DAC structure we have put in place ensures the collective intelligence and incentivised participation of Permacredits holders, alongside an expert council to vet the best projects to ensure quality. The system will be self governing once it is explained and demonstrated. This is all very new and we expect some learning curve in the beginning.
BM: What market are you targeting with Permacredits?
XH:What is personally inspiring about this is a sentiment I shared at the first Bitcoin Conference I spoke at. I see the world of permaculture and sustainable living as a market similar to Bitcoin in that it has early adopters who are intelligent, disruptive, creative and risk taking. There is a strong desire in the world of permaculture for Local Currencies. We think Permacredits are a perfect solution. It is an appreciating asset, a local currency, an open sourced ledger, and voting mechanism. Permacredits allow for decentralized autonomous coherence between people with similar ideologies, desires, values, and interests no matter where in the world they are. This is a vehicle for people to create upward class migration and a healthy planet at the same time, just by involving themselves in the ecosystem.
BM: How will Permacredits work in Colony Earth?
XH: Our idea has been to use credits as units of value exchange within eco developments like Colony Earth. Work needed around the Development will be posted as Permacredit bounties in the app that are smart contracts that complete as the work is done and checked off on by the farm steward, or whomever placed the bounty. Rent is automatically paid in credits as self completing smart contracts, and community surplus is gifted into everyone’s wallets automatically. Imagine not having to touch money, write an invoice, chase down rent, or any of those things to simply live work and play in the environment you choose. I mean, this is the future.
BM: When will Permacredits be released?
XH: We are shooting for our first issuance to coincide with the summer solstice on June 1st of this year. We will therefore shoot for a launch of our sales window to open at the end of April or beginning of May. We have those goals, but really our launch is pegged to how quickly we can find a nation whose laws are not only friendly to cryptocurrency, but encourage its growth. We think we have found that nation and are actively engaging with their legislators and lawyers to incorporate there and clear the runway for our launch.
BM: How do you see Permacredits affecting the future of cryptocurrency and the permaculture movement?
XH: I honestly think Permacredits will define how DAC’s will express themselves in the near future. Ultimately, I believe we will be the seed that springs forth entire ecosystems of autonomous self governance that our civilization desperately needs if we are to mature into a truly coherent class-one civilization.
We are the first to market with such a dynamic currency that engages all of Bitcoin’s higher functions. We are templating Decentralized Autonomous Coherence amongst humans across the globe who share a similar passion for healing the planet, living in the kind of abundance that permaculture systems create, and taking care of each other.
Imagine being able to determine where you want your money to go when paying taxes. Would you choose bombs and war or would you choose bounty and healthy living environments that bring out the higher functions in you and your family? Imagine if the world got to actually decide coherently in a decentralized organic manner where they want to put their money, their energy, their life force, what would we create? Permacredits is asking that question.
Xavier Hawk, Permacredits and Colony Earth could very well change how we think of everyday living. “We are at a huge transition point in our society. If we can get this enterprise running, we can spark change for all mankind,” Xavier stated. Time will only tell what the impact will be.