Advances on External Machine Computing Power Focusing on Internal Personal Value: A Case Study on the New Digital Currency

Yiming Qian, Hao Zhang, Jiahao Liu, Hanran Ma, Xinyu Li and Xi Xi ()
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Yiming Qian: China Agricultural University, Beijing 100084, China
Hao Zhang: China Agricultural University, Beijing 100084, China
Jiahao Liu: China Agricultural University, Beijing 100084, China
Hanran Ma: College of Business, University of Plymouth, Plymouth PL1 1SP, UK
Xinyu Li: College of Business, University of Plymouth, Plymouth PL1 1SP, UK
Xi Xi: China Agricultural University, Beijing 100084, China

Mathematics, 2023, vol. 11, issue 11, 1-24

Abstract: As global inflation escalates and geopolitical conflicts exacerbate, the world’s economy confronts an intensified degree of instability. In this volatile environment, blockchain currencies emerge as a potential bulwark, offering both value preservation and liquidity benefits. However, the conventional “mining” process introduces significant challenges, such as high energy consumption, data security risks, and detachment from the real economy, which potentially facilitate financial capital manipulation. This research endeavors to mitigate these issues, constructing an innovative blockchain cryptocurrency framework that integrates mining and distribution with intelligent big data. It also incorporates social contributions from individuals in domains such as health, knowledge, and ecological conservation. Consequently, the efficiency of cryptocurrency production and distribution correlates with the individual’s societal contribution. The more substantial the contribution, the higher the intrinsic value of the individual and the more efficient the access. Utilizing a comprehensive framework of mathematical modeling, computer numerical simulation, and fuzzy integrated evaluation, we propose a novel endogenous-value blockchain cryptocurrency system. We quantify and optimize variables such as individual intrinsic value, community efficiency, redistribution weights, and total monetary potential. We introduce an innovative method for accumulating time-decaying values such as knowledge contribution and establish an anti-cheating framework. Our results indicate that this pioneering approach can significantly enhance mining efficiency and optimize cryptocurrency distribution. This counters traditional criticisms of blockchain currencies and paves the way for a more sustainable, fair, and efficient model for future blockchain currency systems.

Keywords: blockchain digital currency; mining; endogenous value; smart life (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
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