A giant leap forward By Johnny Cash on November 24, 2017 | |
A giant leap forward Dear empowrians, Many of you that have been with empowr for many years can probably remember where you were when certain big things were announced. Today may be one of those unique days that many will remember years from now.
We have big news today.
The empowr community seems to found a sustainable solution to what has been empowr’s top all-time most difficult challenge and conflict. The solution you’ve suggested appears to enable nothing short of a total game-changer for the personal finances of empowr’s (current) citizens…
… for the success of empowr and its mission… … and for the future empowr citizens that we’ve all been working to serve. ------------ Recently, our President (Brian Woosley) mentioned that we were following the community’s direction that we should carefully examine the idea of launching an empowr cryptocurrency. To methodically analyze the prospects of launching our own ‘coin’, we have conducted a significant amount of research over the last couple of months. Along with conducting our own research, we met with many of the world’s “Top 100 most influential people” in blockchain and cryptocurrency to understand their views, especially as pertains to the empowr mission and approach. Additionally, we met or spoke with over 100 technology executives, everyone from small blockchain start-ups all the way up to top executives from the tech giants such as Google, Amazon, eBay, Apple, PayPal, Yahoo, Microsoft and Alphabet (Google's parent company). The conclusion of our research phase We’ve concluded that – once again – empowr’s community members are correct in their assertion: It appears like empowr citizens – and the empowr mission – would GREATLY benefit from moving to blockchain and cryptocurrency. “Huh? What the heck is blockchain and cryptocurrency? And why does it matter?” Some empowr citizens are knowledgeable about cryptocurrency; others are not. Therefore, before discussing how launching an empowr cryptocurrency might help empowr’s citizens and the empowr mission...
… let’s start by discussing what blockchain and cryptocurrency are all about and the benefits they bring. Then, let’s discuss how we could distribute the empowr cryptocurrency to empowr citizens. (Spoiler alert: All current empowr citizens will get coins for FREE). Today, we’ll cover: 1. What is blockchain and what are the benefits?
2. What is cryptocurrency and what are the benefits?
3. How would the empowr community benefit from cryptocurrency? 3A. The conflict
3B. The new empowr currency will be listed on currency exchanges 3C. What would determine the price of the new empowr currency? 3D. Citizens will be rewarded for their efforts in building the empowr economy NOW 3E. Creating demand for the currency 3F. Understanding empowr’s inventions and progress on creating demand 3G. Current empowr citizens will be provided free empowr cryptocurrency 3H. How should we distribute currency to citizens? 3I. empowr will sell some of its limited supply of cryptocurrency to the public 3J. Solving empowr’s oldest and most difficult conflict 3K. empowr will NOT sell all of the limited supply of currency in the ICO 3L. The coin’s success = YOUR SUCCESS = the mission’s success 4. Timing
5. Questions
6. Summary
7. And finally… Let’s get started.
1. What is blockchain and what are the benefits? Blockchain is a relatively simple technology. A good way to think of blockchain is as a block of information – a database – that instead of being recorded in one place (such as in one company’s database or server) is recorded and copied many times on many, many different computers around the world. In that manner, the data being recorded is decentralized – with no single computer acting as ‘the’ authority. If one or more of those computers where the data is stored is somehow taken down, the data remains accessible from all the other computers. This result is called high availability since the data will always be accessible from one or more of the computers that are still active. As more computers participate, it becomes near-impossible for anyone – even the government of any country -- to take down all the computers where the data is stored, producing an incredibly reliable way to store data. Each block of data contains a link – kind of like a link in a metal chain – that connects the current block of data to the block that was created right before it. Hence the name ‘blockchain’. Once recorded, the data in any block cannot be altered without altering all the other blocks that are chained together, because it would require participation of all the computers in the network. This means that, as more computers join the network, it becomes near-impossible for anyone to alter the data, as original copies of that data (the blocks) are stored on all the other computers. This approach makes the data very resistant to modification – a concept called immutability -- which makes blockchain a safe and secure solution for important records that should not be altered, such as financial transactions or anything else you want to ensure won’t be changed by anyone. In addition, the data in the block can be encrypted – meaning scrambled mathematically so that only someone with the password (called a key) can unscramble (or decrypt) the data. Of course encryption makes the contents of the block (the data) even more secure. Up to now, the world has been accustomed to centralized data – such as the data saved in a bank’s database -- which is very easy to manipulate or change by whoever controls the data, or vulnerable to hackers that might find a way to access it. In a centralized approach, as a customer you are required to trust the person, company or entity that controls the data; you must believe that they will successfully secure it from hackers, and also trust that they, themselves, will not do anything with it that you may not be happy about. But with blockchain, since all the data is decentralized -- copied in many places –the use of the data is transparent to everyone involved. No centralized “official” copy exists and no user or computer is trusted more than any other – which actually builds a greater sense of trust around the data because no one entity or computer can decide, on its own, to change or manipulate that data. The result? With blockchain, humanity appears to have a way to store data that will be always accessible and unable to be manipulated or changed by anyone, not even the best of hackers or most powerful of governments…
… and how the data is being treated or manipulated is transparent to everyone, creating a strong degree of trust. It can even be encrypted so that it is difficult to view the specific contents of the block, making it even more safe and secure. Many smart people are arguing that due to the positive implications that result from blockchain, this new technology will have a greater impact on the world than the internet itself. Of course that is a really big claim that they are making, that time will prove true or false. What I can tell you is that I haven’t seen the tech community more excited about the potential of a new technology than they are today about blockchain. It reminds me of the early days of the Internet and World Wide Web.
2. What is cryptocurrency and what are the benefits? Cryptocurrency is electronic money -- also known as virtual currency -- that is encrypted so that only someone with the key (password) can access it. Cryptocurrency can be deployed on top of blockchain, so it gains the benefits of blockchain discussed above -- such as becoming decentralized, always accessible, more secure, transparent and trusted. There are many different cryptocurrencies, the most famous of which is bitcoin. Bitcoin has been gaining a lot of attention lately, mostly because of how much its price has increased. If you had bought a bitcoin 7 years ago, it would have cost you $0.08 USD. Today, it is worth 85,000 times more -- over $7,000 per bitcoin. And for every $2,000 worth of bitcoin you purchased 5 years ago, today you would have one million dollars ($1,000,000): 
Bitcoin, created in 2009, was the first decentralized cryptocurrency, although it was not the first virtual currency.
You – the empowr community -- invented the first virtual currency a few years before that, as evidenced by the patents awarded to empowr by the United States government for the invention. You can view the official patent here in Google’s patent search tool… … or learn WHY the empowr community needed to invent virtual currency by watching this documentary. 3. How would the empowr community benefit from cryptocurrency? As discussed, cryptocurrency is simply virtual currency. empowr citizens are no stranger to virtual currency: From the very moment when new citizens join empowr, they start receiving virtual currency. empowr citizens uniquely earn virtual currency from posting and sharing photos, blogs, status updates and videos…
… as well as from several other roles such as providing or sharing products and services, success coaching, transporting and more. In empowr, the virtual currency is called “empowr dollars”. An idea from the community Many members of the empowr community have been suggesting that empowr should convert empowr dollars into a new empowr cryptocurrency. With their idea: Instead of storing the virtual currency in empowr’s centralized databases like empowr currently does, it would simply save the currency onto blockchain. Why are some empowr citizens suggesting this idea? In other worlds, what are the benefits (to empowr’s mission and citizens) of moving empowr dollars to cryptocurrency? Well, at first glance, the same benefits described above (about blockchain) would apply: ● More secure It would be harder for anyone to hack, gain control or modify the currency ● Higher accessibility If something went wrong with empowr’s servers, your currency would still be accessible to you ● More transparency Everyone would be able to see everything, such as the total amount of currency in circulation and the total number of transactions happening daily, weekly or monthly ● Higher trust and belief Since everyone can see everything, plus no one can hack, modify or take down the currency, people will have more trust in the currency Those are clearly great benefits, all by themselves. However, as we started to look deeper into this, other benefits begin to surface. ---------- OK, if you’re standing, you may want to sit down now. This is where it really starts to get fun. In addition to the above benefits: It appears like moving to cryptocurrency just might offer a solution to the largest challenge that many people have had with empowr. First, some background info: As you may know, empowr is different in several ways, one of which is that it has never accepted a penny from investors.
Why? So that it would never have to prioritize shareholder profits over the prosperity of its users (called citizens in empowr). We all really believe in the empowr mission. It’s not just some words in a framed plague on the wall. Everyone in the community (of citizens, success coaches and employees) has contributed a little or a lot to the success of the mission, with their time, money, belief and/or patience. And another way that empowr is different from most companies is that it has always tried to give as much cash as possible to its citizens. Why? To help them earn, as its mission calls for. Those two (2) differences create a big cash flow conflict for empowr and its participants. 3A. The conflict The conflict between the following three (3) objectives has always made life more difficult for everyone:
Objective A) the need for cash to fund the operations Objective B) the need for cash to reward citizens Objective C) the need to not bring in cash from investors Virtually all companies don’t have this conflict, because they don’t bother having objectives B and C. This conflict has represented the largest pain point for many empowr citizens. The issue is that of course empowr can only spend 100% of the revenue it brings in – never more than 100% -- so it always feels to everyone like there’s just not enough cash to go to both (A) operations and (B) cash outs. In the past, for some empowr citizens, employees and success coaches, this conflict made life so difficult that they needed to leave empowr. How great would it be if this conflict didn’t exist? Wouldn’t it be game-changer for empowr citizens… … if empowr had access to a lot more cash – not from just empowr citizens but from a different source – so that empowr citizens could receive more compensation? And wouldn’t it be a game-changer for the quality of the product…
… if empowr had the funds needed to hire a larger staff so it could improve the product and platform at a much faster pace? This lack of enough funds has always been the most difficult part of the empowr project. Moving to cryptocurrency appears to help solve what has perhaps been THE largest issue in empowr’s history Why and how? To see how cryptocurrency helps solve our oldest and largest issue (not enough cash) you’ll first need to understand the following details: 3B. The new empowr currency will be listed on currency exchanges Everyone will be able to buy and sell empowr currency whenever they like. They’ll able to buy empowr currency with their local currency -- such as Euros, British pounds, Japanese Yen, U.S., Canadian or Australian Dollars, Russian Rubles or many other currencies. And, they’ll be able to sell their empowr currency too, and receive their country’s local currency in exchange. 3C. What would determine the price of the new empowr currency? Just like with any currency, the empowr currency’s price will go up and down (fluctuate) based on how much currency exists (that’s called the supply)…
… and how much people want it (that’s called the demand). How supply and demand work As the demand for any currency goes up, it’s price goes up. As the supply of the currency goes up, it’s price goes down. Fixed supply The empowr currency will have a fixed supply – meaning its supply will never increase after its launched. Therefore, as demand for the currency increases, its price should go up. By the way, this concept of ‘fixed supply’ can and will be guaranteed on the blockchain. After we launch the currency, fixed supply is a fact that we can all feel sure of, because that’s one of the capabilities that blockchain brings with it. Fixed supply is a major driver in why the value of bitcoin is rising so much. It would not be rising if someone -- anyone -- could increase the supply. 3D. Citizens can be rewarded for their efforts in building the empowr economy NOW Citizens will no longer need to wait for the company to become a public company, so they can legally be given shares in the company that they can hold onto, or sell. Instead, empowr citizens will soon be able to earn ‘coin’ by doing all the things they’re currently doing to earn empowr dollars: Posting and sharing, selling, coaching and more. And they’ll be able to sell the coin to receive cash in their local currency. As more people join empowr and want currency, the demand for the currency increases -- and therefore the value of the currency should go up. (Remember, the supply of currency is fixed so increases in demand should result in increases in price). As people hear about the empowr mission and currency – even if they are NOT empowr citizens -- they can purchase the currency at an exchange (just like they can purchase bitcoin today). When they do that, the demand for the currency increases, so its price goes up. And, MOST IMPORTANTLY, as the empowr economy gets stronger – meaning as more people use the currency to buy and sell things within the empowr community and economy…
… the demand for the empowr currency increases and so the price of the currency goes up. So, how do currency holders benefit when the currency’s value goes up? Naturally, anyone that owns some currency benefits when its price goes up because they can sell some or all of their currency and receive cash (in their country’s local currency).
3E. Creating demand for the currency Wouldn’t it be nice for members of the empowr community – who have been working so hard and for so long -- to own empowr’s cryptocurrency…
… and then for its value to keep going up over time – just like what happened with bitcoin?  If the price did do that, over time, empowr citizens would be nicely rewarded for being “early to the party”…
… and for their efforts and sacrifices toward creating momentum… … and ensuring the empowr mission succeeded. So, what must happen for the empowr currency’s value to keep going up? Since the supply of empowr currency will be fixed and will never increase… … for the price of the currency to go up, we need to ensure the demand for the currency keeps increasing. OK, fine. So what can we do to ensure the demand keeps increasing? Oh wow. Guess what?!? You – we – all of us -- have spent many years working on – very specifically -- how to increase the demand for our currency. This is EXACTLY what citizens, success coaches and employees have all been working so hard on! Think back for a moment: Do you remember how most of the hundreds of ideas and products features we came up with together and launched over the years…
… almost always started with a discussion of the objectives behind the new features? And do you remember how, almost always, those objectives related to “building the empowr economy”? “Building an economy” is simply another way of saying “getting more products and services bought and sold”. The more people earn and spend – and buy and sell -- the more transactions are happening…
… meaning the more the currency is utilized. When you utilize something – like a currency -- you’re creating demand for it. That’s exactly how demand is created. Therefore, building the empowr economy is THE best thing we can do to increase the demand for the empowr currency. What I am saying is that all of that time and focus you put into “building the empowr economy”… … from building and improving product features… … to coaching, moderating, auditing and answering millions of citizen questions monthly… … to listing and selling your products and services… … to building your seller reputation, to hitting your daily goals, to closing loops and building trust with hundreds or thousands of citizens in your area… … to convincingly your empowr friends to be patient, ignore the short-term issues and focus on the big picture... ... and so much more… … those activities have created the knowledge, tools and capabilities -- and the momentum needed -- to create demand in an economy for its currency… … which is EXACTLY what is needed to ensure the price of currency increases. Question: Which of the world’s currencies has the most demand? Answer: The United States dollar Why? Because the United States has the largest economy in the world. The great news here is that, after inventing virtual currency, together we then spent 18 years quietly working to create everything needed to create demand around our currency. As a result of all our work together, we have the most momentum of any company in building the tools, technology, know-how and even the human organization needed to build an economy in a social network (which means building demand for its currency). And that means that we are in an amazing place to ensure our currency succeeds – by simply converting it to a cryptocurrency so it can be traded on an open exchange. As a result of all your ideas, hard work and sacrifices, empowr may be the best positioned company in the world to create demand for cryptocurrency and ensure its value keeps increasing. 3F. Understanding empowr’s inventions and progress on creating demand To help explain your accomplishments in demand creation for currency check out the following video. After you watch the 1st video, the 2nd one will auto-play. Video 1 is about empowr’s platform and background info needed to understand the cryptocurrency Video 2 is about empowr’s innovations around creating demand for its cryptocurrency If I were you, I would watch the 1st video first, because the 2nd video refers to many things mentioned in the 1st video:  3G. empowr citizens will be provided FREE empowr cryptocurrency As many of you know, we have always dreamed of the moment when the company could become a publicly traded company…
… so that its shares could be legally distributed to the many empowr citizens, success coaches and employees that have given so much to this effort and mission. This is that moment! By providing empowr citizens cryptocurrency for free, we believe we have found a way to reward empowr citizens for their contributions NOW. 3H. How should we distribute currency to citizens? Who should get how much? Should every member get the same amount of free coin? Or should different people get different amounts? This is a question we asked the community recently. Thanks for all your comments and answers to those questions. Most of you believe the amount of free coin each person receives should be based on how much time, effort and/or money they have contributed to the empowr mission. Wait. Don’t we already have a way to measure that? Yes. It’s called mission points. As a reminder, everyone earns mission points when they…
· Sell: The greater your product and service sales, and the more customers you serve, the more points you earn. You earn when they click "Item (or service) received" on the products and services you list · Show: Invite a friend and show them how empowr works. You earn matching points: 1 point for each point they earn · Coach: Become a success coach and earn 2 points for every $1 in coaching bonus you receive · Shop: Pay for anything in empowr using your PayPal - earn 1 point for each $1 you spend · Step up: Take on any non-volunteer mission role
To help you track your mission points, we have launched a new mission points page, that shows how many points you have, and how you’ve earned it.
This new page even shows all the mission points that you earned from the people you invited to empowr.
Remember, whenever someone you invite to empowr earns mission points, you earn matching mission points. (And you even earn matching points for when your friends earn points from inviting their friends)!
Check out the new page here
So, empowr citizens will be rewarded with their share of empowr’s new cryptocurrency – for free. By the way, you now still have a short period of time to increase your all-time mission points, so you receive more free coin. If I were you, I would visit the new mission points page to examine what you can still do to increase your mission points, as soon as you’ve finished reading this. …….. OK, rewarding empowr citizens with free cryptocurrency is really nice. But how does any of this solve the cash flow conflict discussed earlier? 3I. empowr will sell some of its limited supply of cryptocurrency to the public You may have heard of an IPO – which stands for initial public offering. An IPO is when a company first begins to sell its shares on the open stock market. Well, now, there’s something called an ICO. An ICO is an initial coin offering. An ICO is like an IPO – except that instead of selling company shares, the thing that is being sold is some of its coin (cryptocurrency). An ICO is a great way to potentially bring many millions of dollars into empowr, by selling some of the limited supply of currency to people around the world. The funds raised can then be utilized to operate the company. In fact, most of the funds raised in this way will be spent on marketing (new user acquisition)…
… to introduce even more people to the empowr currency… …which creates even more demand for the currency so that its price can continually go up. Did you know? In 2017, billions of dollars have been raised via ICOs – more than the amount raised through venture capital. Most of the ICOs have been conducted by companies that haven’t even built a product yet. They are simply putting out a “whitepaper” – stating that they will use the money generated by the ICO to build products. Almost all of them have no community, and (if they have a team) their team has very little experience at building companies. And they are raising millions, even tens of millions, some even hundreds of millions of dollars in their ICO. To learn more, simply Google “ICOs” and you’ll amazed at the excitement level around ICOs; how much money is being raised by these “companies”; and how almost all of them (quite literally) don’t have even 1% of what we have built together. There are thousands of articles on the subject; here’s one from Forbes magazine: Inside the meteoric rise of ICOs The bottom line is that empowr is preparing to conduct an ICO. We are already talking to investors around the world that are showing a high degree of interest in buying the empowr cryptocurrency…
… for the reasons stated in the video I just shared with you.
It is very easy for them to understand and confirm that…
... you not only invented virtual currency (and have the patents to prove it)…
… but – thanks to years of hard work, trial and error, you now successfully and uniquely have the knowledge, technologies and community required to ensure demand for a cryptocurrency can maintained and increased. In other words, after doing their research, one after another smart investor is already concluding that empowr appears to be incredibly well-positioned to launch a cryptocurrency…
… and ensure its value keeps appreciating over time. 3J. Solving empowr’s oldest and most difficult conflict OK, now that we understand how this will work, let’s get back to the discussion of how empowr cryptocurrency will help solve our largest conflict. As a reminder, earlier in this blog post we discussed the largest conflict in empowr’s history:
Objective A) the need for cash to fund the operations Objective B) the need for cash to reward citizens Objective C) the need to not bring in money from investors By selling some of its coins to investors, it appears that empowr can bring in millions of dollars that can be utilized for Objective A (funding its operations).
This would mean that empowr would no longer need to rely on cash coming in from citizens to pay for operations. And by giving free coins to its citizens (which they can “cash out” at an exchange or hold on to) we can reward citizens (which is Objective B).
This would mean that empowr would now have the “funds” it needs to provide “cash outs” to citizens. And because empowr is NOT selling shares (but is selling coins) it can bring in funds into empowr without giving up on its objective of never, ever, making the wealth of shareholders more important than the prosperity of our citizens (IE: Objective C). And that is why, we think you -- our community – appear to have solved the largest challenge and conflict we have ever faced. 3K. empowr will NOT sell all of the limited supply of currency in the ICO Remember, the supply of currency will be fixed. The total amount of coins will be published (transparent) from the beginning and will never increase. Therefore, it makes sense for empowr to NOT sell all its currency in the ICO, and retain some for future use. empowr will retain some currency so that, every year, it can continue to: 1. Reward empowr citizens
2. Pay for operations
And remember, since empowr have an 18-year head start (in the tech world that’s called a ‘first mover advantage’)…
… in creating many of the tools, technologies, know-how and human organization required to increase demand for a currency…
… there’s good reason to be optimistic that the price of the fixed-supply currency will generally move up… … especially as we continue working hard to build the empowr economy and ensure the mission succeeds. A rising currency value means that we can keep increasing the amount of rewards we give empowr citizens…
… and keep improving our products… … while using less and less of the remaining supply of currency that empowr holds. In fact, we are thinking that empowr will commit to releasing only and exactly 20% of the total remaining currency it holds each year… forever. If we spend 20% of the remaining amount each year, the supply remaining will never actually get to zero. I know math is NOT some people’s strongest skill, so if that last paragraph doesn’t make sense to you, ask a friend how that works. The bottom line is that empowr’s supply of currency will never reach zero, if every year it releases exactly 20% of the amount remaining at that time. And, if we are very smart about how we go about utilizing or spending that 20% each year…
… meaning that if we do a really good job at utilizing those funds to grow the demand for the currency… … that 20% of currency that empowr spends should actually be worth a lot more (in cash, such as in U.S. dollars) than the 20% it spent the year before. Like many of you, I am feeling quite fortunate right now that – together – we’ve had the opportunity to get an 18-year head start and lead over other companies in building the knowledge, tools and products needed to increase the demand for (and price of) our currency.
Also – let’s not forget that thanks to this new funding -- empowr will be able to hire more engineers and product people so that it can create new revenue streams…
… from many different activities such as selling advertising and sponsorships to large companies… … so that it can periodically buy back some of its currency…
… and/or distribute to its citizens as additional rewards for all their continued efforts… … and/or spend on marketing and new user acquisition… … all of which, in turn, create even more demand for the currency… … helping ensure its price goes up even further. As we successfully do that, the 20% released the following year will be even more valuable (in U.S. dollars) and therefore even more capable of being used in all the same ways to increase demand for the currency… … driving up the price of the currency … … and so on and so forth, like an upward spiral. 3L. The coin’s success = YOUR SUCCESS = the mission’s success As the price of the currency goes up:
A. Rewards to citizens increase – since they are rewarded with coin B. The product improves – since empowr can hire more workers C. empowr citizens build wealth – if they save some currency and D. The empowr mission succeeds Why? By doing A, B and C, together we are: Empowering more people… … enabling more opportunities for them… … helping to generate more hope for them… … and ensuring they have more influence over their lives. empowr’s mission is to empower people by enabling opportunity, hope and influence 4. Timing empowr’s engineers have already begun working on all the technical elements needed to move the empowr currency to cryptocurrency. We’re working with industry experts from around the globe to build out the necessary elements, as well as establish the best practices possible to ensure the integration of the new empowr coin will be a smooth one. Important decisions still need to be made We still set exactly how many coins there will be. (Remember, the supply of coins will be fixed). We need to solidify the monetary policy of the currency, meaning fully commit to and publish how many coins will be released periodically to reward empowr’s citizens and pay for operations. And we need to commit to exactly how many free coins will go to current empowr members. However, I can tell you with certainty that:
A. Many millions of free coins will be distributed exclusively to empowr citizens B. The distribution of free coins will be based on all-time mission points: If Sally has exactly twice as many all-time mission points as Joe, she will receive exactly twice as many free coins as he will. In the coming days and weeks, we will keep you posted with each step as we proceed. We expect to be fully functional, with our currency up and live on exchanges – so everyone can buy and sell the empowr currency very soon. 5. Questions: What if someone previously left empowr? Can they participate in the free coin offering? We think YES. Why? We believe that everyone gave to this mission what they could. Some survived a few days, others well over a decade. Everyone has mission points, even if they deleted their account. We will work on creating a way for them to get their free coin. But “Is that fair?” some will ask, to share free coin with someone that deleted their account, or for them to receive the same amount of free coins as someone that kept working for the mission? They won’t get the same amount. They’ll get an amount that’s equal to their relative contribution to the mission while their account was open. Isn’t that fair? Look, if they worked hard while on empowr, or provided funds, or invited friends, or provided coaching to others -- they helped us all get to this point, so they too deserve to be rewarded – up to the amount of their contributions. I think this is something we can all believe in.
What can I do while waiting on the ICO?
A. Earn as many mission points as you can. The more all-time mission points you have on the day the empowr coin becomes listed on the exchanges, the more free coins you receive. Visit the new mission points page to get started.
B. Watch this video – and then watch Part 2 that follows it – so you can talk intelligently about the products, mission and all our inventions around increasing the demand for (and the price of) the currency.
C. Read more about cryptocurrency and blockchain. A good book: The blockchain revolution
Are there downsides to moving forward with cryptocurrency? Like any new complicated project, feature or product, there are any number of issues with this effort that can and will come up, many of which are difficult to predict ahead of time. In order to do our best to dodge most issues, we are reaching out to many "experts" that have already gone down this road. We are hoping to use their experiences to avoid some of the mistakes they and others made in the past. Some of these folks are consultants and need to be hired temporarily. Let’s go into this optimistically but, as always, with our expectations under control. Many of you have tremendous experience at building complicated products and organizations (at empowr and elsewhere) that you can use to help others understand that “things nearly always go wrong in the beginning; and nearly always go great in the end if we are persistent and resilient”. With our expectations set accordingly, we cannot fail. In addition, having smart expectations also means that, as we work towards our success, we won’t drive ourselves and others crazy -- as some of newest citizens tend to do before they gain that experience. Also, this is an expensive process to get going. We have more upfront legal, marketing and many other fees and costs that are placing even more pressure on our already super-tight cash flow that’s been delaying cash outs and payroll these last couple of months, while we’ve been going through this process. Let’s hope that all of this will be worth it, as it’s an incredibly difficult, expensive and time-consuming process that is taking much of our focus and resources away from the product, citizens, success coaches and employees. So far, we have every indication that it will be worth it, as it holds the promise to permanently remove the largest and longest conflict this community has faced. Got more questions? Please use the comments section below and we'll do our best to answer them.
6. Summary A. empowr will soon be converting the empowr virtual currency (called empowr dollars) to blockchain-based cryptocurrency. B. Objectives of this initiative include improving transparency, trust, immutability, availability and security of the virtual currency. C. Other objectives include making the currency available on exchanges so everyone can buy and sell the currency whenever they like.
In this manner, anyone that believes in the empowr mission, platform and/or community can benefit from the appreciation of the currency as it succeeds. D. Additional benefits include bringing in millions of dollars into empowr, which will be utilized to further drive demand and value for the currency, by: i. providing higher quality products ii. introducing millions of new people to the currency (marketing) iii. significantly improving compensation to empowr citizens for their efforts E. Soon, empowr will launch an ICO (initial coin offering) to introduce the world to the new empowr currency and drive its momentum. F. And to thank the mighty, mighty empowr community (that’s YOU) for all their efforts in bringing empowr to this point…
… despite all the many hardships they have faced… … empowr will ensure the very first cryptocurrency coins will be distributed to current empowr citizens free of charge.
Distribution will be proportionate to the amount of all-time mission points that each citizen has earned at the time the new currency launches. 7. And finally… What you have accomplished up to this point is nothing short of a miracle To invent so many of the things needed to create an entire economy…
… starting with no money whatsoever… … and to stay alive and continue to move forward, for so long…
… despite the incredible pressure on everyone involved… This is simply unheard of in the history of companies or technology startups. We accomplished all of that with nothing but vision, belief, hard work, sweat and tears. And now, seemingly out of nowhere, the world is exploding with excitement about one of our inventions:
Virtual currency … which opens up this incredible opportunity to the effort and participants. Have you ever heard the saying: Luck is where preparedness meets opportunity
Preparedness: After inventing virtual currency, ae have spent 18 years working on the problem of how to continually create more demand for --- meaning how to increase the value of -- virtual currency.
Opportunity: Thanks to bitcoin, people are now understanding what can happen to the value of virtual currency when demand is created for it. ● Many exchanges have popped up, seemingly out of nowhere, to help people buy and sell virtual currencies.
● And many ICOs have come before us, showing everyone what buying and holding a virtual currency could mean for them. Luck: And so it appears that we —you – the people that have given so much belief, energy and more to this mission and effort.. … you are now about to get very, very lucky. Just imagine…
… for a moment what – together -- we will accomplish…
… when -- like other technology companies -- we have access to millions of dollars that we can use to improve our products, spend on marketing and accelerate our progress in all areas? Just imagine how many people we will help pull out of poverty in the coming years. I know so many of you are feeling lucky -- like I am right now…
… for having this opportunity to live a life of purpose. Once again, this is all proof that…
… if we just keep marching forward, with passion and belief… … people, events, situations and circumstances will -- often mysteriously … … show up along the way to help us achieve our mission. The road behind us…
has sometimes been difficult. But – if you are reading this – it means you persevered. You got up every morning, took a deep breath, focused your mind on the positive, and got back to work.
Despite everything thrown at you, you kept marching forward. With the launch of our new currency…
let’s hope that the road ahead of us will be a little (or a lot) less difficult… … and a little (or a lot) more rewarding… … making it a little (or a lot) easier to work with even more passion and belief … … so that even more people, events, situations and circumstances… … might show up to help us further increase our momentum… … and increase the chances for the ultimate success of the empowr mission… … and empowr’s overarching goal: Help half the planet (4B people) to earn $25 or more by the year 2025 A big THANK YOU As with almost all breakthroughs, inventions and progress that have taken place in empowr over the years…
… having the knowledge, path and confidence to adopt our own cryptocurrency... … would not have happened without the passion and support that each of you has given to the empowr economy.
Together, we are changing the world for the better. It is a great privilege to be working on such a grand mission with such incredible, selfless and giving people.
And to those empowr citizens… … that have helped us see your vision for cryptocurrency: On behalf of the community, we salute you.
A very special shout out... … to empowr citizen Neal Walters who wrote us a very thoughtful, detailed and helpful letter, summarizing his thoughts and vision. Neal’s letter was the most actionable input that we received the from community…
… helping persuade us to make the very time-consuming research and analysis of cryptocurrency a higher priority than other items being requested by the community. From everyone at empowr, a big THANK YOU to you, Neal. I think we all owe him some gratitude -- and coins. ;) Stay tuned for more details in the coming days and weeks. Yours truly, JC
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