 A theoretical concept of cryptocurrencies employing proof of socially beneficial workNed Kock and Augustine Tarkom Technological Forecasting and Social Change, 2024, vol. 207, issue C Abstract: We propose a theoretical concept of cryptocurrencies employing proof of socially beneficial work, which have the potential to become a major source of funding for nonprofit organizations aiming at benefiting society. New tokens of these cryptocurrencies would be issued only based on work that has already been conducted, with demonstrated and easily quantifiable positive results. We theorize that such cryptocurrencies will emerge and be progressively utilized to fund socially beneficial work without increasing indebtedness or inflation in the countries where the tokens are minted. Moreover, we theorize that such cryptocurrencies will be more successful than cryptocurrencies employing traditional proof schemes, of which the most common are proof of work and proof of stake. Since our theorizing proposes, for the first time, the idea of cryptocurrencies employing proof of socially beneficial work, it is also aimed at spurring interest in this idea. Keywords: Cryptocurrencies; Mining; Minting; Proof of work; Proof of stake; Proof of socially beneficial work (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:tefoso:v:207:y:2024:i:c:s0040162524004268 DOI: 10.1016/j.techfore.2024.123628 Access Statistics for this article Technological Forecasting and Social Change is currently edited by Fred Phillips More articles in Technological Forecasting and Social Change from Elsevier |
Is your work missing from RePEc? Here is how to contribute.
Questions or problems? Check the EconPapers FAQ or send mail to .
EconPapers is hosted by the
School of Business at Örebro University.