Do you want to know what Ripple was up to, back in 2014? Then keep reading.
In 2014, someone created a crypto coin called World Dollar (WLD) on the Ripple platform. The project’s goal was to deliver 10,000 World Dollars to everyone on Earth. The site discusses how Fractional Reserve Banking (that America uses) does not work in the long run and also mentions Bank Runs. The original website no longer works. But if you use the Way Back Machine you can see the contents of the website before it was deleted. Also the Ripple website has changed drastically. You can also use the Way Back Machine to see what the Ripple website looked like in the past.
https://web.archive.org/web/20141105205952/www.world-dollar.com/
WORLD DOLLAR
The Future of Money
Claim your 10,000 WLD now
“The ultimate basis for money, a social convention, is for it to be issued to everyone, equally.”
https://web.archive.org/web/20141010141725/http://www.world-dollar.com/claim-now
You can now claim your 10,000 World dollars from our first Issuer, Coin Autonomy.
https://web.archive.org/web/20140815024912/http://www.world-dollar.com/ripple
SETUP RIPPLE ACCOUNT
Ripple is the first platform that world dollars can be traded on and payments made. There will be more payment platforms available on the World Dollar network. If you are interested in setting up a payments/trading platform for World Dollar please click here.
https://web.archive.org/web/20140815024833/http://www.world-dollar.com/grant-trust-world-dollar
Granting Trust to World Dollar
In order to receive world dollars you need to grant trust to the Ripple account WorldDollar
Press the settings button (gear icon) in the top right hand corner, then click on “Trust”
Then click on the green “Add trust” button on the right hand side
Type in WorldDollar and then click on “~WorldDollar” on the drop down menu
For amount type 10000 and type WLD in the drop down menu
Press “Save” (you do not need to allow Rippling), then press “Confirm”
https://web.archive.org/web/20140816075330/http://www.world-dollar.com/create-ripple-account
Create Ripple account
First go to ripple.com, hover over “Ripple Account” in the top right corner then click on “Ripple Trade”.
Enter the required details on the screen and save these details securely, then click on “Sign Up”.
The next screen will then display your secret account key.
Please note that the secret account key is extremely important as this is the key that will be used to restore access to your account should you lose or forget your account login details. Please keep this key somewhere private and safe.
You then need to confirm your email address by clicking on the link sent to your email after signing up.
If you do not want to create and/or activate a Ripple account yourself, our Network Member organisations can create and activate an account for you. Please send an email to contact@world-dollar.com if you are interested in this service.
https://web.archive.org/web/20141103172628/http://www.world-dollar.com/what-is-world-dollar
1. What is World Dollar?
World Dollar is the future of money. It is based on the idea that, since money is nothing but a social convention, the ultimate basis for money is for it to be issued to everyone, equally. We call this the Equal Opportunity Standard. You can claim your World dollars now.
2. How is Money a Social Convention?
Money is a social convention in the sense that it is not valuable in itself, but valuable because people agree to take it as valuable. It is a medium of exchange, a tool that allows us to trade with one another without having to resort to barter, which inefficiently depends on the double coincidence of wants.
3. Why is Equal Opportunity the ultimate basis for issuing money?
We expect that issuing money on the basis of equal opportunity will have the ultimate level of social acceptance.
This is because it appeals to the highest ethical standards. “We hold these truths to be self-evident, that all men are created equal”.
It also appeals to the highest standards of economic reason. It rejects the idea that producers of money, i.e. producers of something that is not actually valuable in itself, should appropriate scarce resources from the other, productive members of society, i.e. producers of goods and services that are actually valuable.
This ultimate level of social acceptance that comes with issuing money on the basis of equal opportunity translates into money that is considered highly valuable.
5. Who is behind World Dollar?
World Dollar is not about any single person or group of people. If we can all rally behind the concept of money issued to everyone, equally, we can all achieve one of our greatest ever feats.
Those who decide to offer their efforts to the World Dollar Foundation take it upon themselves to do everything they can to raise public awareness about World Dollar. However, in order for World Dollar to succeed, it will have to be the case that the efforts from the Foundation will only be a tiny fraction of the overall efforts to spread the word.
Meanwhile, the World Dollar Network is responsible for actually running the monetary system, facilitating the issue and exchange of World dollars. It is made up of private organisations, who compete against one another in order to maximise the quality and minimise the cost of services provided.
https://web.archive.org/web/20141003162755/http://www.world-dollar.com/debt-based-monetary-system-debunked/
1. Bank run incentive
There is an incentive to start bank runs due to a) the fallacy of fractional-reserve banking, and b) the fallacy of deposit “guarantees”.
A. The Fallacy of Fractional-reserve banking
A fractional-reserve bank issues more property titles than there is actual underlying property. The total value of property titles cannot exceed the total value of actual underlying property. Therefore, holders of property titles have an incentive to act quickest in withdrawing the actual underlying property. Those who act slowest are the losers, as they fail to withdraw any of the actual underlying property.
2. Central bank bankruptcy
We know, a priori, that all central banks should be declared bankrupt due to a) the impossibility of making a profit in the long run, b) the virtual certainty of making a loss in the long run.
A. The Impossibility of Making a Profit in the Long Run
The central bank lends money into existence, and destroys it upon its repayment. It is impossible for more money to be repaid than is lent into existence. Therefore, it is impossible for the central bank to make a profit in the long run.
https://web.archive.org/web/20140816051637/http://www.world-dollar.com/end-of-debt-based-monetary-system/
PART 1: END OF FRACTIONAL RESERVE BANKING
Fractional Reserve Banks
Fractional reserve banks are not a place where money can be held for safekeeping. Deposits refer to the purchase of debt from these banks. The banks claim that this debt is redeemable for money at par on demand.
https://web.archive.org/web/20140824232515/http://www.coinautonomy.com/
Freeing the world from monetary manipulation
CLAIM YOUR WORLD DOLLARS TODAY
Coin Autonomy is an Approved Issuer of World dollars. At this time, you will be able to receive your 10,000 World dollars (WLD) on Ripple.
For a limited time only, we will charge nothing to perform an ID check and activate your Ripple account for free (20 XRP is required to activate a Ripple account).
Your personal information will be encrypted and stored securely, and will only be shared, if necessary, with other Issuing Organisations to prevent duplicate claiming of World dollars.
Claim your World dollars
In order to claim your 10,000 WLD you need to verify your identity. This is to ensure that you are real and have not already claimed your World dollar allocation.
There are 2 ways to do this, by providing a ‘public’ ID or a ‘private ID’. A public ID is simply a social network account that you already have, where the information that proves you are a real person is most likely already in the public domain. We are accepting 2 types of private ID: an identity assured miiCard or a government issued photo ID document that proves your identity.
FAQs
What is World Dollar?
World Dollar is the future of money. It is set to replace our current monetary system, which is based on a fallacy called the credit theory of money. The key principle World Dollar is based on is the Equal Opportunity Standard. This represents the idea that, as money is nothing but a social convention, the ultimate basis for money is for it to be issued to everyone, equally. For this reason, every person is eligible to receive 10,000 World dollars once. For more information about World Dollar please visit their website.
How do I receive my World dollars?
Your World dollars will be issued on the Ripple platform. You need to first create and activate a Ripple account before you can receive your allocation. The World Dollar website has more information on how to do this: www.world-dollar.com/ripple/.
What is Ripple?
Ripple is a payments/trading platform where you can send, receive and trade World dollars and other currencies. You can find out more information about Ripple here: ripple.com.
Will World Dollar only be available on Ripple?
No, World Dollar will launch on other platforms in addition to Ripple.
https://web.archive.org/web/20140525134817/https://ripple.com/guide-to-ripple-gateways/
RippleCN
RippleChina
https://web.archive.org/web/20140702063120/http://www.ripplecn.com/
Right Click — select translate to English
https://cointelegraph.com/public/index.php/news/world-dollar-foundations-andrew-yiu-wld-a-vote-against-the-present-monetary-system/amp – article deleted
Here is an article from 8 years ago about the World Dollar.
Posted 8 years ago
World Dollar Foundation’s Andrew Yio: WLD ‘a vote against the present monetary system’
Prophetic Money