#ICO Announcement!

Introducing Blessings – a new kind of #shitcoin.

Coins are minted when I [henceforth: the issuer] ‘bless’ a person [henceforth: the owner]. This is worth one coin, which belongs to the person who receives the blessing – the owner. This blessing takes place via a post to social media which @s the account who receives the blessing. An entry for this is entered into the ledger.

Coins can be sold and traded, also via social media, by making a post announcing that this has occurred. This must @ the new owner and also the entity acting as the banker, who will update the #ledger.

Coins may also be redeemed – in this process, they are returned to the issuer in exchange for short musical compositions. Owners of coins may occasionally be asked for favours by the issuer, but, as is usual with favours, have a right to refuse.

There will be a staged rollout of gradually upgrading the ledger backend.

In version 1.0, the issuer will also act as the banker. The ledger will be manually updated in google docs. This ledger is viewable to all. It will contain: the URL of the ledger, all issuer accounts and all banker accounts. This is currently online at: https://docs.google.com/spreadsheets/d/1VhEIdQ8lya6BxS8IzljquTQ5MkAP8qtpZfK_J4FfXEw/edit?usp=sharing

Every coin will have a unique ID, the owner’s social media account, and the URL of the post in which the change of ownership occurred. Each coin will maintain a history of owners and transactions. Coins are atomic units and can not be split.

Version 2.0 will automate banker activities – each coin and the banker will have an #activitypub account on a server dedicated to the currency. Each coin will post a status as it’s ownership changes and be able to respond to queries about it’s current status.

In version 3.0, each coin will have a #scuttlebutt ledger and thus their record of existence will be maintainable over mesh, and they won’t require a server or network. However, there will be a bridge to activitypub to mirror all ownership changes to the #fediverse.

FAQ