Vision  

The Axio is a revolutionary asset-backed cryptocurrency designed to address many deficiencies found in existing cryptocurrencies, such as a lack of identifiable intrinsic value, extreme volatility, and unsuitability for business operations. The Axio is not simply a cryptocurrency, but a component of a patent pending asset-backed cryptocurrency monetary system. Within this system, it will provide a stable intrinsic value, interest payments, privacy, transparency, secure ownership, free real-time transactions, international borderless transferability and convertibility, a variety of payment methods, free basic account services, and a legal framework. But most of all, the Axio was designed to serve the people. For this purpose it was founded on diametrically opposite principles to the current system, such as deflation instead of inflation, public control and transparency for common good instead of secrets for private gains. To function within the current monetary system, the Axio will be issued as a security under U.S. law with all the advantages that implies. It will provide substantial protection from the problems associated with other cryptocurrencies and the legacy banking system. Given its many advantages, the Axio is positioned to become a dominant player in the race to create the next generation of cryptocurrency. As such, it has enormous potential.

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Features  

From the outset, the Axio was designed to be more than an incremental improvement of the current monetary system. It is a revolutionary change, the aim of which is to surpass the current system by delivering previously untenable benefits to individuals and businesses. Here are some of the Axio’s features:

Decentralization and Democracy

The Foundation will be operated in a similar way to a credit union, which is a financial cooperative controlled by its members as stakeholders, and operated on the principle of people helping people. This is a much more effective form of democracy and decentralization than mining tokens.

Common Good

The Foundation will use money creation for the benefit of the members of the community by redistributing the profits as interest payments to all the members. The Axio will be equitable money created by the people, controlled by the people, to benefit the people.

Value

The Axios Foundation will issue Axio denominated loans and collect interest on them. Thus, the Axio will be backed by the intrinsic value of borrowers’ efforts to pay off their loans. That is, the Axio will be directly backed by the intrinsic value of work that represents the real value rather than a by-product of work such as gold. And unlike commodity-backed cryptocurrencies that have a fractional reserve value, the Axio will be fully backed by the full faith and credit of the borrowers.

Stability

The Axio is backed by the value of loan interest payments that represent a certain amount of work. Since the value of work is a stable commodity, the intrinsic value of the Axio will be stable.

Payment Methods

The Axios Foundation will support a variety of payment methods that will allow the Axio to be used seamlessly, just like any other currency. Among these are the mobile payments that will allow the Foundation to bypass the existing payment infrastructure, and the very high fees associated with it. All transactions that do not require a currency conversion will be free for both consumers and retailers. And if feasible, the Foundation will issue Axio Cash that will support anonymous P2P transactions without the internet.

Speed

The Axios Foundation will operate a distributed computer system that will process transactions in real time.

Privacy

Most cryptocurrencies, like the Bitcoin, provide a publicly available record of all transactions that have ever taken place. Hence they have a low level of privacy, although even with this limitation many people still entrust their financial history to a public blockchain. To address this issue the Axios Foundation will not publish any information relating to accounts. Additionally, the Foundation will not sell or share members’ personal information without explicit permission.

Transparency

The Axios Foundation will operate openly and transparently to benefit its members. To achieve this, all details of its operations, including operating expenses, outstanding loans, amounts on deposit, amounts in reserves, profits, etc. will be published in a blockchain to show the financial status of the Foundation. 

Security

Because the system is self-contained, accounts managed by the Axios Foundation can be made more secure than regular bank accounts.

Dispute Resolution

Certain business transactions cannot be performed without a legal framework supported by some form of dispute resolution, and an ability to reverse transactions due to error, fraud, etc. This makes dispute resolution a vital component of any monetary system. To allow for dispute resolutions, transactions between Axio accounts will be reversible in whole or in part. To support the dispute resolution process, the Axios Foundation will abide by relevant court decisions, and will also provide arbitration for a fee via smart contracts. The ability to redress grievances will make the Axio similar to a government-issued legal tender, which is something that no other cryptocurrency can offer.