Hello World

Hi everyone, welcome to the Ledgerback Blog.

This is our first post so I thought it should be aptly named "Hello World," a reference to the first program many aspiring coders are required to complete.

Ledgerback is a Cooperative Association ("Ledgerback," "L-COOP," "LCA," "LC", "LK," "LKCA," "LK-CA," "Co=op," "Co-op," "Association") based in sunny Las Vegas, Nevada!

Who:

Ledgerback was started in May 2018 initially with five members with common interests in distributed ledger technology (blockchain, hashgraph, directed acrylic graph, etc.), cryptocurrencies, dApps, decentralization principles, and a vision for a world where distributed ledger technology becomes commonplace in our everyday lives.

What:

We formed Ledgerback to increase mainstream adoption of distributed ledger technology, remedy issues and concerns we have seen and experienced in the cryptocurrency community, support local projects, initiatives, and communities, and research distributed ledger technology applications.

How:

We expect to achieve our primary objectives by:

1. providing free educational resources about distributed ledger technology and cryptocurrencies to the general public;
2. research applications ("use-cases") and issues regarding distributed ledger technology;
3. advising, consulting, and supporting primarily local projects and initiatives; and
4. provide self-regulatory guidelines for the distributed ledger community and industry.

Why:

We chose to organize ourselves based on a cooperative model because the cooperative model embodies many of the principles that reverberate through every cryptocurrency community. A cooperative is democratically managed by its members by providing each and every member an equal vote and equal interest in the organization. A cooperative embodies the principles of:

1. voluntary and open membership;
2. democratic member control;
3. member economic participation;
4. autonomy and independence;
5. education, training and information;
6. cooperation among co-operatives; and
7. concern for community.

We believe these principles are reflected in the cryptocurrency community's principles of:

1. permission-less;
2. open source;
3. decentralization;
4. peer-to-peer (P2P) interaction;
5. fungibility; and
6. approval of each transaction that is verified by the rules.

The Association's principles can be considered to be an amalgamation of the principles of cooperative model and the cryptocurrency community that also includes the following:

1. distributed ledger technology agnostic;
2. interdisciplinary approach;
3. interoperability; and
4. self-sustaining ecosystems.

Recent Developments:

Currently, we have had four recent developments arise since our founding.

First, we are developing an internal, decentralized architecture that will allow us to achieve our primary objectives while allowing for any current or new members to achieve their own personal goals and dreams through Ledgerback.

Second, we are also working on our website, ledgerback.coop, which should be ready by the end of September.

Third, since our initial concept, we have also realized that we need to go beyond our goals and make the Association create an interdisciplinary space of like-minded individuals who can brainstorm and bring their disparate ideas into life through the Association.

Fourth, we have started considering the community events we should host to increase mainstream adoption and get the word out on Ledgerback.

Origin of the Name:

Ledgerback is a reference to the term "greenback," a slang term for U.S. dollars that arose in the mid-1800s from the fact that paper money was printed in green. Greenback was initially an infamous term because at the time, no one trusted paper money. However, greenbacks would eventually become the official currency of the United States. We believe we are living in a similar transitory period to the U.S. government's issuance of paper money, where we are transitioning from fiat currency and paper money to a world where not only money is created on or backed by distributed ledger technology, but also legal agreements, video-games, software applications, renewable energy, accounting, medical records, data storage, internet-of-things, and much more to come.

Conclusion:

Thank you for reading our first post.

If you have any questions, suggestions, issues or concerns, please leave a comment or send an email to [email protected].

We plan to post weekly updates starting on July 10th.

Stay up to date on our progress by following us here on Medium or our social media channels.