Makoto Takemiya, Ph.D., is the CEO and co-founder of SORAMITSU, a Japanese blockchain company, notable for creating the first large-scale CBDC in the world, in production in the Kingdom of Cambodia. For the past 5 years, he is also a contributor to SORA, a decentralized economic system that is built around the XOR token.
SORA – A New World Monetary Order
XOR is a supranational currency that has its supply and primary market managed by a computer program. XOR is not controlled by any country, company, or individuals and is thus a global economic system for the common good of humanity. Unlike other cryptocurrencies, such as Bitcoin, countries can join in the governance process of the XOR economy and make proposals to mint and allocate XOR for productive purposes. This means that XOR does not have to be considered a foreign currency that is outside the control of countries, but rather can be integrated into the domestic economy wherever it is used. Furthermore, XOR is not a debt-based currency, so more egalitarian social outcomes can be realized, compared to contemporary economic systems. This allows countries and other large entities to take advantage of monetary expansion for production, while maintaining democratic oversight as all minting and allocation of new tokens is performed by on-chain governance.
Your quote:: “Economics has the potential to uplift societies and shape our world for the better, but only if economic systems are rationally constructed to create socially beneficial outcomes. SORA is a decentralized monetary system aimed at promoting economic growth with democratic oversight.”