Virtual Cash out of thing air? Not really

A fund of up to $1 million will be established for each Kind-Eco community to invest in local businesses. This fund will support the adoption of AI technologies, the development of digital infrastructures and virtual systems, and the creation of employment opportunities in the area, in addition to making donations to community causes. 

Over 30 remote communities will be invited to participate, and other communities from across Australia will also join as guests. It’s important to note that Virtual Cash is supported by a robust foundation of systems, software, training, and consulting necessary for its successful implementation.

How this was raised: another $0.20 cents effort (like a telethon to raise virtual resources). The Kind-Eco members placed it into LFT-Australia and traded it in our game online. Because this effort got Government and Private interest, funds from different areas (non v-cash) are being considered.

Not a surprise, since the Kimberly region is seating on a multi-billion dollar network!

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A bit of schooling for some of us;

Virtual Cash

1. Nature of Value:

   • Virtual Cash is a digital or virtual form of currency that can be used for transactions within specific ecosystems or platforms. Its value is derived from the trust and acceptance within that digital environment.

2. Backing and Support:

   • Virtual Cash is supported by underlying systems, software, and infrastructure that facilitate its use. It often has a backing of technology, including secure transaction protocols and digital wallets.

3. Liquidity:

   • Virtual Cash can be easily transferred and used for online transactions. Its liquidity is typically high within its intended platforms or communities but might be limited outside those ecosystems.

4. Regulation and Security:

   • Depending on the platform, Virtual Cash might be subject to specific regulations and security measures to protect against fraud and misuse. Its value can fluctuate based on platform policies and market conditions.

5. Use Cases:

   • It is primarily used for digital transactions, investments, and within specific virtual or online environments. Its utility is closely tied to the adoption and functionality of the platforms it operates on.

Diamonds

1. Nature of Value:

   • Diamonds have intrinsic value based on their physical properties (e.g., cut, clarity, color, carat). Their value is also influenced by market demand and perception of rarity.

2. Backing and Support:

   • Diamonds are tangible assets with value supported by physical characteristics and market demand. They do not rely on digital infrastructure but are valued based on physical attributes and market conditions.

3. Liquidity:

   • Diamonds can be less liquid compared to virtual currencies. Selling diamonds may require finding a buyer, and the transaction process can be more complex and time-consuming.

4. Regulation and Security:

   • The diamond market is subject to industry regulations and standards, including those related to authenticity and ethical sourcing. Physical security is important to prevent theft or loss.

5. Use Cases:

   • Diamonds are often used as investments, in jewelry, and as status symbols. Their use is not limited to digital transactions and involves physical handling and storage.

Summary

• Virtual Cash is a digital asset with value derived from its use within virtual environments and is supported by technological infrastructure. Its value and liquidity are closely tied to its adoption and the stability of the platforms it operates on.

• Diamonds are physical assets valued based on their inherent properties and market demand. They are less liquid and involve different considerations for security and regulation compared to digital currencies.

Both Virtual Cash and diamonds hold value in their respective contexts, but their characteristics, use cases, and underlying support systems differ significantly.