Self Sovereignty of Money
Back to Basics supports each individual's sovereignty over one's own money. This means you have exclusive control over your money, it should never be possible for any person, bank, government, etc to "freeze your bank account". We believe the practical solution is a new form of money, one that is entirely built on a decentralized system.
Our pilot program is in the United States where we've created the "USA". The "USA" is a digital currency with a fixed, immutable supply of 30 trillion that is stored on the Stellar network. Stellar is a decentralized blockchain that specializes in cross border payments. Learn more below!
What is a blockchain?
A blockchain is basically one huge Excel sheet that tracks everyone’s digital asset balances. The Excel sheet is stored on a global network of computers that (1) are independently operated and (2) maintains one master copy of the Excel sheet securely and reliably. Thus, it’s a decentralized storage of digital assets, you don’t need a single person, company, organization, or government to manage and maintain the Excel sheet.
What is this "USA" money?
"USA" is a digital currency with a fixed, immutable supply of 30 trillion. It's designed to benefit the average American by protecting them against inflation caused by money printing.
Why a 30 trillion supply? This is approximately the amount of USD used by ordinary Americans (aka M2 money supply), allowing "USA" to function as a digital "snapshot in time" of the current USD supply.