Pre Launch Contributions and Methodology
Capital contributions are necessry to develop and launch ProducerCoin and EmploymentCoin. Pre-launch participants will be allowed to fund and develop the program within an indivual State with the assurance that only one class of ProducerCoins and EmploymentCoins will exist.
When additional States are added, those individuals or groups making capital contributions will choose the State or States they want to support and the amount they want allocated to each State. In this way, supporters can "vote" to support the launch within the State or region of their choice.
In each State, ProducerCoins and EmploymentCoins will be launched when a demand is demonstrated by sufficient capital contributions to fund the expansion in said State.
A fund raising goal of 100k per State will be sufficient to launch in States with the least populations. For States with population exceeding one million people, a fund raising goal of up to 10 cents per capita will be necessary.
This self limiting structure will provide more development funding in states like California and Texas where regional launches may be necessary.
Pre-launch capital contributions of Bitcoin and other digital currencies will be made online at www.bitcoinchipin.com A public accouncement will be made when the pre-launch begins. Upon launch, those who contributed to the pre-launch will be issued one ProducerCoin for each 10 cents of value they contribute.
Upon launch, ProducerCoins and EmploymentCoins will be issued to participating farmers at par with USD.
The initial issuance of EmploymentCoins must be equal in value to ProducerCoins in each local trade area. This balance should also be maintained within each county. To facilitate this balance, participating producers who receive ProducerCoins will automatically receive the same number of EmploymentCoins.
Producers will be responsible for granting their EmploymentCoins into circulation at a Parity minimum wage as valued against USD. This distribution must occur within the same economic cycle as the ProducerCoin issuance. Cooperative distribution between local farms and farm groups and chapters of local service worker unions and organizations promoting living wages is essential. This will require the intelligent cooperation of people and the cooperation of intelligent people. Farmers must not be allowed to spend EmploymentCoins into circulation. They must grant them into circulation for the benefit of labor, just as their ProducerCoins were granted to them. In this manner, each farmer becomes a mini federal reserve system.
EmploymentCoins should be simultaneously mined into circulation in each county by each underemployed worker not otherwise receiving EmploymentCoins to reflect the difference between their hourly wage and the parity minimum wage of $18.50.
When the hourly wage plus the total value of the EmploymentCoins mined by a worker reaches 100% of the Parity minimum wage for all hours worked in the previous year, no additional EmploymentCoins can be mined by such worker.
Initial distribution of EmploymentCoins should begin within the lowest paid service jobs such as the food service industry. Distribution and mining should be promoted by local farm groups, by cooperating service unions and by non profit charitable organizations.
Customers of sub-minimum wage establishments should be encouraged to buy EmploymentCoin from these employees.
Customers who buy EmploymentCoins from underpaid workers should receive an appropriate lapel pin upon said purchase signifying their support of a real living wage.