ROCKRCOIN Whitepaper
Original Version 1.0
6000+ words
A Rainbow Crypto
for the Live Experience industry
Original Version 1.0
5th October 2024
1.0 Abstract
This WhitePaper describes the strategy to develop, maintain, and allow for evolution thereafter, a hybrid reverse auction smart contract blockchain currency, called ROCKRCOIN, whose transactions arise primarily from reverse auctions in a strategically important sector.
In addition to the blockchain, this requires the development of the 30+ ‘ROCKR’ applications described in the diagram and text below, each of which feeds data to and receives data from The ROCKR Exchange App, which manages the reverse auctions, to be known as ‘ROCKRS’.
The ROCKRCOIN blockchain is an example of a ‘Rainbow Crypto Currency’ defined as a crypto digital currency that has: a ‘Transformational’ societal impact because it addresses a ‘Real Economic Need’ in a ‘Sustainable’ , ‘Eco-Friendly’ , ‘Democratic’ , ‘Secure’ and ‘Just’ manner.
ROCKRCOIN’s successful development and widespread use would make it the leading example of the new monetary concept made possible by digital currencies, namely that of a ‘Global, Economic-Sector-Specific, Digital Currency’ which operates alongside a nation’s official legal tender.
Blockchains like Lisk, Power Ledger, Solarcoin, Axis Infinity, Decentraland, Rentberry, Blockland, Medibloc, Patientory are just a few examples.
ROCKRCOIN’s rainbow crypto characteristeristics are designed so that, as transactional volume and credibility grows in its targeted economic sector, ROCKCOIN is granted legal tender status; thereby facilitating further self-sustainable growth in the targeted and strategically important global economic sector in the nations that grant it that status.
In ROCKRCOIN’s instance, this strategically important global economic sector is the curation, creation, funding, reverse auction, contract management and delivery of live experiences, to be known as ROCKRs, anytime, anywhere by anyone.
The Reverse Auction of a ‘ROCKR’ auctions all the products and services required for the production, delivery and performance of a particular live event simultaneously with the tickets to attend the event, at a given place, date and time.
The ROCKR Reverse Auction Algorithm closes the auction when the aggregate amount of the accepted supplier bids is equal to the aggregate amount of the ticket bids. The algorithm uses a maximum 90% of a venue’s seat capacity in the reverse auction calculation so that 10% of the venue’s capacity is always on sale 24 hours before the event is due to begin, thereby enabling the supply of a vibrant advance-booking and on-the-day local market in live experiences in every subject and genre.
To submit bids, counterparties to the auction have to have pre-agreed and pre-signed their relevant ROCKR legal smart contracts, which are then stored and updated, with their bids and all other relevant information, in the ROCKRCOIN blockchain.
2.0 Background
Cryptographic blockchain solutions already offer powerful new solutions to the problem of reducing transactional friction and risk between the relevant counterparties in many sectors.
Transaction volumes in the live experience industry, defined as the exchange of a live experience by those who create, produce, direct, host and perform that experience with those who consume and interact with it, are severely curtailed by the transactional friction and risk involved in curating, producing and staging live experiences.
Friction arises in a variety of forms, from lack of information to the restrictive and monopolistic practices of institutions, including state governments.
Risk arises because the consumers of the live experience have no role to play in the creation of said live experiences and as a consequence may ignore it by not purchasing a ticket or, as in the case of a traditional school class, not paying attention in a lesson.
In a world where humans can feel increasingly vulnerable and isolated, if not outright threatened, by the evolutionary march of artificial intelligence, robots and the virtual world, liberating the live experience industry, expanding its depth, quality and volume, is an imperative for the most basic of humans needs: to be physically present with each other.
3.0 Solution:
ROCKRCOIN’s rainbow crypto blockchain addresses these issues for the live experience industry sector through a comprehensive blockchain-based ecosystem mitigating financial and legal risk and reducing friction in the curation, creation, funding, contract management, delivery and demand for live experiences.
Given that no currency has any value without the trust and belief of those who accept and hold it as a store and unit of value and a medium of exchange, the rainbow description of the ROCKRCOIN blockchain currency facilitates a quick, easy and memorable rationale and strategic direction by which the requisite belief in ROCKRCOIN can evolve, with each colour of the rainbow describing a critical element to differentiate and elevate the proposition that in due course, ROCKRCOIN can achieve legal tender status.
A core foundational objective and lifetime principle governing the operation of ROCKRCOIN is signaled by each colour of the rainbow as follows:
3.1 that ROCKRCOIN enables a ‘Societal Transformation’ through:
3.11 A radical improvement in average educational attainment by facilitating the liberation of the 19th century state education monopolies that continue to persist beyond their sell by date, everywhere. Year in, year out, the state monopoly institutional strait jacket means that, on average, more than half of the populations in nearly all nations is unable to achieve their individual potential whilst they are in the formal, compulsory, top-down, state education system. ROCKRCOIN is the catalyst for long overdue change.
3.12 Reversal of the decline in Retail High Street Footfall through a combination of new purpose built facilities and repurposed existing facilities all of which include the ability to host a multitude of fully-funded, fully attended, live physical experiences in all subjects and genres.
3.13 Exponential growth in the live event industry by manifesting the riskless supply of, and demand for, live experiences across the long tail of subjects and genres, as Amazon did with print media. Successful reverse auctions via 30+ integrated apps comprising ‘The ROCKR Exchange’, can fund, fully sell tickets to, and manage all the legal contracts thereto, of any type of live experience, anywhere, anytime.
3.20 that ROCKRCOIN targets ‘Real Economic Needs’ by facilitating transformation and exponential growth in the education, live experience and High Street retail industries, as summarized in section 3.1 above.
Anyone can curate a live experience in any subject or genre using ROCKRCOIN’s 30+ sister apps integrated into The ROCKR Exchange App. Each auction of a live experience is called a ROCKR.
Any currency can be used by bidders in a ROCKR auction but ROCKRCOIN is also issued to the successful bidders in an auction, in a proportion calculated by The ROCKR Stable Currency Algorithm, with the ultimate objective, as the volume of ROCKRS and belief in ROCKRCOIN grows, of obviating the need for any external currency in any ROCKR auctions.
3.30 that ROCKRCOIN is independently ‘Sustainable’ because it is a self-funding sector specific digital currency thereby able to independently transform its target sector in a decentralized manner.
Sustainability will be supported by The ROCKR Stable Currency Management App. (See 12.3 below) such that the annual increase (decrease) in ROCKRCOINs in circulation, is proportional to the increase (decrease) in the value of the real world transactions it facilitates, as measured by a ‘XDR/RKS purchasing power parity and XDR global basket of currencies’ algorithm. Thus will new ROCKRCOIN only be issued – to its attendees and suppliers – either when a new, reverse auctioned live event is completed and/or to the relevant suppliers when a ROCKRCOIN approved development project – see below – is commissioned or completed.
The decentralised PoA/PoS governance of ROCKRCOIN aims to mirror how the real growth in M2 money supply of central bank controlled fiat currencies broadly tracks and facilitates, over the long run, the growth in the real economy.
3.40 that ROCKRCOIN is ‘Eco-Friendly’ because it uses a hybrid Proof of Authority/Proof of Stake authentication model which, thereby, is not driven by the metric of whomever uses the most electricity/CPU in the Proof of Work Proof of Work blockchains such as bitcoin.
3.50 that ROCKRCOIN is ‘Democratic’ because its PoA/PoS authenticated governance uses an inclusive electoral college which balances the interests and authority of ROCKR Exchange developers and service managers and suppliers of services to, and attendees of, live ROCKR experiences, and the localities and nations in which they occur.
This ROCKRCOIN Electoral College (see 12.6 below) eventually assumes total governance authority through a stage and gate process which grants increasing levels of control to the electoral college as critical mass volume milestones are achieved in ROCKRCOIN transactions and in the below listed categories of members of the electoral college.
3.60 that ROCKRCOIN is ‘Secure’ not merely because of the cryptographic and PoA/PoS implicit nature of the ROCKRCOIN blockchain itself but because the operational design of the underlying economic activity – the genesis, funding, contracting and delivery of live experiences – removes financial and legal risk systemically through a reverse auction of the live experience which is enabled by The ROCKR Exchange.
In addition the physical transparency which is a requisite characteristic of all live experiences, provides transactional security. By definition and in practice, nothing is hidden in a live physical performance or experience. A high level of transactional security is therefore an intrinsic characteristic of ROCKCOIN.
3.70 that ROCKRCOIN is Just: because operating transparently and legally within the regulatory jurisdictions of nations is implicit and systemic in ROCKRCOIN’s hybrid PoA/PoS authentication, governance and automatic reporting systems.
4.0 Software Development Requirement:
ROCKRCOIN’s software development requirement is extensive, as illustrated by the high level diagram below 4.01 and the high level app requirement summaries below.
Where possible ROCKRCOIN aims to partner and piggyback on existing technologies and development ecosystems.
For example the Lisk blockchain platform and smart app ecosystem has many parallels with ROCKRCOIN’s software requirement and one of the objectives of this Whitepaper is to explore whether the differing currency and token strategies of these technologically complimentary platforms can be blended to facilitate mutual benefits which accelerate ROCKCOIN and the ROCKR apps development and deployment.
This should be achievable because, as with digital currency wallet developers and suppliers, there is no need for exclusivity in the supply and operation of many of the 30 + ROCKR apps described below, quite the contrary. The objective is to foster an ecosystem of multiple suppliers of each, where possible, to mitigate single point of failure and accelerate development. The only immutable requirement is that the data inputs and outputs of each supplier’s ROCKR app integrates with the ROCKRCOIN blockchain itself, as required by its smart contract, authentication and governance architecture.
4.1 The ROCKRCOIN Blockchain
Hybrid Proof of Authority (PoA) / Proof of Stake (PoS) consensus mechanism
Smart contracts to manage event creation, funding, and execution
ROCKRCOIN as a sector-specific digital currency
4.2 The ROCKR Exchange
A suite of 30+ integrated applications facilitating:
Reverse auctions for live experiences (ROCKRs)
Curation and production of events
Venue management and ticketing
Audience engagement and participation
4.3 Key Innovations
Reverse Auction Algorithm: Matches supplier bids with ticket sales, ensuring fully-funded events
90/10 Capacity Rule: Reserves 10% of tickets for last-minute sales, promoting local engagement
Smart Legal Contracts: Pre-signed agreements ensure all parties fulfill obligations
Democratic Governance: Evolving control through an Electoral College system
Sector specific digital currency with independent monetary sovereignty capable of self-funding its sector
AI Anti-Fraud Transaction and Auction Surveillance and Intervention App
5. Technical Architecture
5.1 Core Components
ROCKRCOIN Blockchain
The ROCKR Exchange
ROCKR Apps Ecosystem
Smart Contract Layer
Governance and Authentication Protocols
5.2 Complete ROCKR Apps Ecosystem
6.1 App for Managing Reverse Auctions of Live Performance ‘ROCKR’s
In this new world of ROCKRCOIN the question: What Makes YOU Rock? will be an invitation to curate your own live performance and convert it into reality using the ROCKRCOIN Blockchain , The ROCKR Exchange and ROCKR apps.
6.11 The ROCKR Exchange App is an open source app that receives the data it requires from the other 30+ open source ROCKR apps in order to manage the reverse auction process and the transactions and contracts thereto, as determined by The ROCKR Reverse Auction Algorithm, reporting the data back to the relevant ROCKR apps and into the ROCKRCOIN smart contract blockchain, as appropriate.
6.12 The ROCKR App is an open source app with apis to embed into any social network, including where relevant, the ROCKR apps listed below, an interactive summary, known as a ‘ROCKR’, of the multiple ROCKR auctions being managed by The ROCKR Exchange App. It allows users to view Tik Tok like video promo videos and auction status summaries of ROCKRs currently being curated, auctioned or about to be delivered, so that users can make bids themselves, buy tickets or share socially to build engagement and interest.
6.2 Apps for managing the Curation of ROCKR Live Experiences: ‘ROCKRs’
6.21 The ROCKR Curator App and the following apps listed below in this category, are open source apps and share similar functionality to enable their users to curate a live experience reverse auction, known as a ROCKR, or to find one that is being curated or reverse auctioned currently, in order to contribute to it or make a bid in it in their curator profile role.
The difference between each app is that each one is customised differently according to their performer type category with, for example, access to pre-filtered appropriate data, taxonomies etc. Further performer category apps can be added according to demand.
The generic ROCKR Curator App can be used by any user by switching from their other ROCKR user- profile categories, for example, a venue owner can switch to their curator profile to curate and auction their own live experience ROCKR.
All ROCKR user-profile categories have profiles within the app to build their curator brand through links to images, video, text, audio, reviews etc and can switch at any time, with one click, into their other ROCKR personas as facilitated by the other ROCKR app categories.
6.22 The ROCKR Educator’s App.
6.23 The ROCKR Speaker’s App
6.24 The ROCKR Writer’s App
6.25 The ROCKR Influencer’s App
6.26 The ROCKR Performing Artist’s App
6.27 The ROCKR Actor’s App
6.28 The ROCKR Retailer App
6.29 The ROCKR Sport’s curator App
6.291 The ROCKR Politician’s App.
6.292 The ROCKR Scientist’s App
6.293 The ROCKR Wellbeing Curator App
6.30 Apps for the Managers of ROCKR Live Productions The following open source apps enable their respective users to create their respective role bids and fulfill their respective successful bid roles in any given live performance ROCKR. Further manager category apps can be added according to demand. All users have profiles within the app to build their respective brand through links to images, video, text, audio, reviews etc and can switch at any time, with one click, into their other ROCKR personas as facilitated by the other ROCKR app categories.
6.31 The ROCKR Producer’s App
6.32 The ROCKR Director’s App.
6.33 The ROCKR Stage Crew App
7.0 App for Venues to Host a ROCKR Live Performance gives existing hosting venues, and any space or place that wishes and has the authority/license to become a hosting venue, access to the ROCKR Exchange in order to bid to host ROCKRs and manage the delivery of their contractual responsibilities in providing hosting services for the ROCKRs on which their hosting-bids have been accepted.
A maximum 90% of a venue’s capacity can be used in the reverse auction calculation so that 10% of the venue’s capacity is always on sale 24 hours before the event is due to begin, at the average price of the preceding auction. This 90/10 reserve capacity ratio means that a ROCKR reverse auction is completed in advance using 90% of a venue’s capacity and thereby ensures that an active, serendipitous and vibrant short-term market can be built, on any given day, in any local market for live experiences.
Venues upload their contract offer categories, venue details, calendar availability and seat categories differentiating the latter into quality seat categories, which are then allocated in the reverse auction process to match the value of the different levels of ticket price bids received in the reverse auction with the quality of the seat offered.
All users have profiles within the app to build their respective brand through links to images, video, text, audio, reviews etc and can switch at any time, with one click, into their other ROCKR persona profiles, as facilitated by the other ROCKR app categories.
7.1 The ROCKR Venue and Hosting App is an open source app
8.0 App for Spectators to Attend ROCKR Live Experiences gives a spectator/spectators access to the ROCKR Exchange to bid for tickets to be part of the live audience for a ROCKR, at a given time, date and location and anonymously validates their physical presence there so that the smart contracts in the ROCKR blockchain can be executed together with the transfer of funds mandated by the successful auction.
Users can create groups to block bid in ROCKR auctions.
All users have profiles within the app to build their respective spectator profile through links to personal interest taxonomies, images, video, text, audio, reviews, attendance history etc and can switch at any time, with one click, into their other ROCKR persona profiles, as facilitated by the other ROCKR app categories.
8.1 The ROCKR Spectator App is an open source app
9.0 Apps providing Ancillary Services to ROCKR auctions provide various requisite functionalities and services to be integrated with, and enable the full functionality of, the ROCKR User apps described above 4.1 through 6.1.
9.1 The ROCKR User ID Verification App, known as The ROCKROCRACY App, authenticates users as real people with proven IDs and enables users to create their various user profiles in the ROCKR Exchange, switching seamlessly between their chosen operational roles within the exchange, using the various ROCKR apps. The app preserves the ability of users to remain anonymous to other users when using The ROCKR Spectator App but, by definition, anonymity is not appropriate for any of the other user categories i.e. host; curator; producer; director; educator; stage crew; etc because they need to build a public reputation/brand in The ROCKR Exchange to be successful in an auction.
9.2 The ROCKR Directory of Live Performers, Producers etc App, including their Agents, Availability and Indicative Fees is an open source interactive directory app of all the services that enable a live performance and the suppliers thereto. This includes actors, speakers etc. Entries in the directory can be claimed by their owners and edited accordingly, providing information on their service fee level and structure and ROCKR bid history. A.I. will be incorporated into the directory to provide estimates of fee structure for suppliers who have not claimed their entry in the directory. These estimates can then be used in the curation of a Dream-Genie-ROCKR, where curators create a fantasy ROCKR in the hope that their chosen suppliers will claim their wished for role by making a bid that makes that ROCKR dream come true, that is to say, where the reverse auction is successful.
9.3 The ROCKR Venue Directory App, including their Capacity, Availability and Indicative Fees is an open source google maps style geo-location venue finder app. With apis to integrate into the main Geo-Location search applications. Entries in the directory can be claimed by their owners and edited accordingly, providing information on their service fee level and structure and ROCKR bid history. A.I. will be incorporated into the directory to provide estimates of fee structure for venues who have not claimed their entry in the directory. These estimates can then be used in the curation of a Dream-Genie-ROCKR, where curators create a fantasy ROCKR in the hope that their chosen venues will claim their wished for role by making a bid that makes that ROCKR dream come true, that is to say, where the reverse auction is successful.
9.4 The ROCKR Calendar Integration App is an open source app that allows all ROCKR users and groups to participate in ROCKR Exchange auctions by synching their mobile calendars or manually setting their availability for the times, dates and durations for any ROCKRs on which they have bid, on which they have been invited to bid or on suggestions on which they might like to bid, based upon their stated availability preferences and historic choices.
9.5 The ROCKR Geo-Location App is open source and provides a visual interface for all users to search for:
9.5.1 ROCKRS currently being curated but not auctioned yet, denoted by a blue ‘R’ on the map;
9.5.2 ROCKRs that are currently being auctioned, denoted by a yellow ‘R’ on the map;
9.5.3 ROCKRS where the auction has successfully closed, denoted by a green R on the map and where, by definition, the remaining 10 per cent of tickets will go on sale on the day of the performance.
Search results will be able to be filtered by date, time, subject or any ROCKR category or user.
Results to be displayed, as with google maps, using horizontal and vertical scrolling, filtered according to preference, of video ‘Reels’ with their respective interactive summaries.
10.0 Apps providing ROCKR Engagement and Marketing services to ROCKR auctions provide various requisite functionalities and services to be integrated with, and enable the full functionality of, the ROCKR User apps described above 4.1 through 6.1.
10.1 The ROCKR AI Text, Image to 60 sec Promo Video App is an open source app to be incorporated into all ROCKR reverse auctions enables users in curator mode to create and modify a text or image or file prompt, or combination of all three, which produces an editable 60 second promo video for each curated ROCKR to be used to market that ROCKR on social media. The resultant video is to be stored using IPFS with its hash saved in the smart contract in the ROCKRCOIN blockchain. [Alternatively, if/when the capability of A.I allows it, a post video creation prompt that faithfully reproduces the video precisely, could be stored in the smart contract on the Blockchain.]
10.2 The ROCKR Rating and Review app is an open source app that will enable all users to review and see the performance of all other members, and branded groups of members who have collaborated to provide services to ROCKRs, in their fulfillment of ROCKR smart contracts. This process will be supported by appropriate performance data and stats from the ROCKR Exchange and will help members to curate and deliver successful ROCKRs.
10.3 The ROCKR Social collaboration app is an open source app that is embedded in all the other ROCKR apps and operates in a whatsapp group-style manner to enable collaboration, discussion and participation around the successful curation through to delivery of ROCKRs.
10.4 The ROCKR A.I. Marketing and Sharing App is an open source app that enables users to embed interactive ROCKR summaries in social networks to facilitate marketing distribution of curated reverse auctions, ROCKRS, and bids thereto direct from the social network listing.
11.0 Apps integrating ROCKR auctions into the ROCKRCOIN Smart Contract Blockchain
11.1 The ROCKR Smart Legal Contracts App provides the contracts which all the parties to a ROCKR auction pre-sign in order to lodge their bid in a ROCKR auction which ensures that they fulfill their obligations should the bid be accepted as part of a successful ROCKR auction. As ROCKR itself is not a legal entity, these contracts will be structured so that the obligations are between the supplier as an individual, group of individuals or legal entity and the other suppliers as a class action group.
Whilst pre-signing the relevant legal contract is a necessary condition to participate in a ROCKR auction, building and maintaining a good reputation, as collected and broadcast by the ROCKR Rating and Review App [8.2] will be a powerful incentive to perform as expected to contract.
11.2 The ROCKR Live Performance Delivery and Attendance Validation App utilises a variety of metrics, including mobile phone GPS to validate a spectator’s attendance at an event, at a given time and location – whilst maintaining anonymity on the ROCKR’s social footprint – and suppliers’ performance to contract. This performance and attendance data will assist in the selection of reliable live performance partners and enable strategic marketing of live experiences, for example, by offering financial incentives managed by the ROCKRCOIN blockchain, for learners to curate their own educational ROCKR experiences and edutainment ROCKR experiences and for retailers to curate their own ROCKR retail experiences, all hosted in thereby rejuvenated and repurposed High Streets.
12. Apps managing Decentralised Governance and Authentication of The ROCKRCOIN Blockchain
12.1 The ROCKR Proof of Participation and Proof of Stake Hybrid Authentication App. The ROCKR Electoral College section, see 12.6 below, describes the means by which users, both individual and institutional, gain authority in the ROCKRCOIN blockchain governance and/or authentication protocols.
ROCKR’s PoP/PoS transaction authentication system will authenticate individual transactions (e.g. bids) and blocks by randomly selecting from those members of ROCKRCOIN’s Governing body, (see 10.6 below) who have opted to operate additionally as ROCKRCOIN authenticators in order to receive the ROCKR authenticator incentives. See ‘ROCKRCOIN Incentives’ in 11.0 below.
12.2 The ROCKR Project Management App manages the initial development and ongoing evolution of the ROCKRCOIN blockchain and the 30+ apps comprising The ROCKR exchange. The ROCKR Project Management App controls initiation, decision making, development contracting, quality control and delivery of all ROCKRCOIN and ROCKR App projects via an interactive integration with the ROCKRCOIN Decentralised Governance App, which provides the requisite authority at each stage.
In the embryonic, pre-development period of this app, these functions will be managed through the deployment of free project management and communication apps such as at www.Trello.com and www.whatsapp.com.
Future non-exclusive, open source ROCKRCOIN partnerships with software providers will be an integral strategic objective of ROCKRCOIN to mitigate the scope of entirely new, independent ROCKRCOIN app development in general and single point of failure operational risk in particular, through any type of reliance on monopoly provision of a particular app.
12.3 The ROCKRCOIN Stable Currency Management App manages the path towards, and thereafter the maintenance of, ROCKRCOIN’s stable currency objective to achieve and maintain 1:1 parity with the IMF’s XDR – which is generally considered to be the most stable currency over the past 50+ years.
The operation of this target will be managed such that it is not a constraint on ROCKRCOIN’s “monetary sovereignty” within its ecosystem because in contrast to other national fiat currencies, ROCKRCOIN is a global sector-specific currency operating in the same manner irrespective of cross border national jurisdiction. Although it will act as a global store of value and unit of transaction, as well as being a transformative rainbow crypto – meaning, for instance that it self-funds its specific sector – it is not a general trading currency. It is a sector-specific trading currency. This is critical in what the 1:1 XDR/RKS stability target actually means in terms of its independent monetary sovereignty within its ecosystem. Whereas the long-term median value of any general trading fiat currency v other general trading fiat currencies, or basket thereof, will fluctuate around the PPP differentials of those trading parties, according to short term differentials, real or otherwise, as perceived by the markets, in a whole variety of factors, such as economic strategy, international relations, interest rate differentials etc, ROCKRCOIN’s “XDR 1:1 purchasing power parity algorithm“ automatically adjusts new ROCKRCOIN issuance according to the global PPP indicator that is the XDR and real time data on transactions in its own ecosystem. This enables it to keep the ROCKRCOIN value of its local, national, sector-specific transactions, which itself is inline with local PPP value, in line global PPP, automatically.
In other words, a 1:1 XDR/RKS parity target means something different for a sector-specfic currency like ROCKRCOIN than it does for a generalist trading currency like the dollar because, by definition, on the RKS side of the equation, all the possible ROCKRCOIN money supply adjustments to control inflation within its own ecosystem, under any scenario, have already been made, automatically, whilst on the XDR side of the equation, the IMF makes the necessary weighting adjustments to reflect long term changes in international trade, whilst the real time vicissitudes of the markets in interpreting global events, economic and interest rate differentials are effectively cancelled out by the basket of currencies that comprise the XDR. Thus does targeting 1:1 XDR/RKS parity not imply the need for enforced retrospective monetary or fiscal tightening or loosening, as is the case for all the data-poor, time-lagged, politically sensitive generalist fiat trading currencies.
In practice. the strategy will be to keep the annual increase (decrease) in ROCKRCOIN’s value, proportional to the increase (decrease) in the value of the real world transactions it facilitates, as measured by the ‘XDR/RKS 1:1 purchasing power parity’ algorithm. As noted above, this would mirror the approximate long term relationship in the real world between M2 and economic growth for stable currencies.
Thus, notwithstanding whether the transactions in a ROCKRCOIN development project or successful ROCKR reverse auction experience have been funded in a currency other than ROCKRCOIN, new ROCKRCOIN will be issued automatically in parallel to the relevant parties in proportion to the normal market chargeable amount, as calculated by the XDR/RKS 1:1 purchasing power parity algorithm, for the services that they are supplying or the tickets for which they are bidding, in the currency of their domicile.
The ROCKR Stable Currency Management App will automatically either increase the 1:1 purchasing power algorithmic ratio or decrease it depending upon perceived deflationary or inflationary pressures detected from movements in the XDR/ROCKRCOIN exchange rate and successful bid price data which the app receives from The ROCKR Exchange, adjusting the adjustment amount in real time according to the automatic impact assessment revealed by subsequent XDR/ROCKRCOIN exchange rate and successful bid data. Applying a negative purchasing power ratio in the algorithm will enable ROCKRCOIN currency to be drained and destroyed should that contingency be required and such policy could be applied either automatically via the algorithm or through the ROCKRCOIN governance and electoral college protocols. See below.
The ROCKRCOIN Decentralized Governance App will have the power to intervene as it deems appropriate in the above described operation of the ROCKR Stable Currency App only for the purpose of improving its performance in achieving its mandated target of stable currency parity with the IMF’s XDR, or should such cease to exist, its nearest like-for-like replacement.
12.4 The ROCKR Regulatory Jurisdiction Data Transfer App. The real economic activity that ROCKCOIN facilitates will be activity that governments will decide whether or not to tax. The ROCKR Regulatory Jurisdiction Data Transfer App will offer the APIs from the ROCKR Exchange to enable governments’ objectives.
12.5 The ROCKRCOIN Decentralized Governance App manages the non-automatic, non-systemic decisions regarding the development, operation and evolution of the ROCKRCOIN blockchain and the 30+ ROCKR apps that will surface inevitably from time to time and from process to process. Such will be assessed and decided democratically via The ROCKRCOIN Decentralized hybrid PoA/PoS Governance protocols enabled by the app, meaning its processes and decisions will be tamper-proof, with no single point of failure.
The hybrid Proof of Authority and Proof of Stake blockchain authorisation and governance system draws its membership and legitimacy from a democratic ROCKRCOIN Electoral College consisting of all ROCKRCOIN owners and all ROCKR app users, [12.6] collectively to be known as The ROCKR-ocracy.
Thus will the operation and evolution of ROCKCOIN and the 30+ ROCKR apps be decentralised from any single institution or individual or any predictable group of institutions or individuals and thereby from undemocratic control therefrom. The objective is that ROCKRCOIN avoids being:
12.51 controlled by one or a few countries and/or
12.52 controlled by one or a few institutions and/or
12.53 controlled by an organised mass of spectators or any other official or ad hoc group that acts in unison.
12.6 The ROCKRCOIN Electoral College App manages the automatic stage and gate hurdles which control entry into the various operating roles, authentication authorities and levels of non-automatic, non-systemic governance of ROCKRCOIN and its ROCKR apps, as described above.
12.61 ROCKRCOIN Electoral College Membership Metrics. The Electoral College makes decisions according to The ROCKR Electoral College Algorithm which takes into account and balances the ‘qualified majorities’ in each of the separate constituent ROCKR user-type profile colleges, who have become authorised voters in their respective colleges by virtue of their proven participation and stake in ROCKRCOIN transactions, as measured by the metrics in the table below [12.62]. These metrics are provisional and will be finessed by the members of the colleges themselves as the ROCKRCOIN development progresses and the Stage and Gate hurdles are refined until the moment the governance singularity arrives when The ROCKRCOIN Complete Decentralisation Metric is hit.
12.62 ROCKRCOIN Electoral College Qualifying Membership Metric Table
12.63 The ROCKRCOIN Complete Decentralisation Metric Algorithm controls the moment when The ROCKR Electoral College assumes complete decentralised controlof ROCKRCOIN from The Founder College, which thereto has a veto vote within The Electoral College during ROCKRCOIN’s Genesis Era.
The ROCKRCOIN Genesis Era is designed to ensure that:
12.631 ROCKRCOIN reaches an irreversible critical mass in terms of successful ROCKR auctions, transaction volumes and global footprint.
12.632 ROCKRCOIN’s Electoral College and Decentralised Governance Apps work in a practical an unbreakable fashion to obviate the undemoctratic control risks described in 10.51 – 10.53 above.
13.0 The ROCKRCOIN Economy
13.1 Currency Model
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Goal: Achieve and maintain 1:1 parity with IMF’s XDR
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Issuance tied to real-world transaction value
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Stable Currency Management App for algorithmic adjustments
13.2 Incentive Structure
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Descending multiple of real-world value (XDR) for early adopters
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Transition to stable 1:1 ratio as adoption grows
13.3 Revenue Streams
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Ticket sales for suppliers of successful ROCKR auctions: venues, actors, teachers, stage crew etc
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Transaction fees for PoA/PoS authenticators
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Transaction royalty for early ROCKRCOIN Software Architecture and Full Stack suppliers
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Contract fees for developers and strategic partners
14.0 Governance and Decentralization
14.1 The ROCKRCOIN Electoral College
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Diverse representation: Spectators, venues, performers, developers, local/national governments
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Qualifying metrics for membership in each college. See draft
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Gradual transition to full decentralization
14.3 Decentralized Governance App
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Manages non-automatic decisions
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Ensures democratic control and prevents centralization of power
15.0 Regulatory Compliance
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Built-in data transfer capabilities for jurisdictional reporting
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Designed for potential integration with national financial systems
16. Development Roadmap
Phase 1: Foundation (6-12 months)
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Identify and invite totemic global venues, institutions, product brands and local and national governments to be the bedrock on which ROCKRCOIN’s hybrid PoA/PoS consensus authentication and governance is built and developed. See ‘The ROCKR Bedrock Offer’ document (coming next)
- Finalize technical specifications
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Develop core blockchain architecture
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Begin development of key ROCKR apps
Phase 2: MVP Launch (12-18 months)
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Launch ROCKRCOIN testnet
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Release beta versions of core ROCKR apps
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Conduct pilot ROCKRs in select markets
Phase 3: Ecosystem Growth (18-36 months)
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Full launch of ROCKRCOIN mainnet
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Rollout of complete ROCKR app ecosystem
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Expand to multiple geographic markets
Phase 4: Mass Adoption and Integration (36+ months)
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Seek legal tender status in pioneer jurisdictions
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Integrate with major entertainment and education sectors
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Continuous improvement and expansion of the ecosystem
17. For Developers
ROCKRCOIN offers a unique opportunity for developers to shape the future of the live experience industry while contributing to a socially responsible and transformative blockchain ecosystem:
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Rainbow Blockchain Innovation: Work on a currency designed for positive societal impact
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Open Source Ecosystem: Contribute to and build upon 30+ ROCKR apps
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Smart Contract Development: Create and optimize event-driven contracts
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AI Integration: Develop AI-powered tools for event curation and promotion
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Cross-Platform Compatibility: Build integrations with existing calendars, social networks, and payment systems
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Scalability Challenges: Solve real-world problems in handling global, high-volume transaction systems
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Governance Protocols: Contribute to decentralized decision-making systems
Developers can earn ROCKRCOIN through:
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Contributing to core protocol development
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Creating new ROCKR apps or improving existing ones
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Participating in the governance process
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Authenticating transactions in the PoA/PoS system
Join the ROCKRCOIN developer community to access:
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Comprehensive documentation and APIs
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Developer forums and support channels
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Hackathons and bounty programs
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Early access to new features and protocols
19. Conclusion
ROCKRCOIN represents a paradigm shift in how live experiences are created, funded, and enjoyed. As a rainbow blockchain currency, it addresses real-world problems in the entertainment, education, and retail sectors while maintaining a focus on positive societal impact. ROCKRCOIN has the potential to become a transformative force in the global economy, offering a purpose beyond mere speculation or value storage.
We invite developers, creators, venues, and spectators to join us in building this revolutionary ecosystem. Together, we can democratize access to enriching experiences, create new economic opportunities around the world, and demonstrate the power of blockchain technology to drive positive change.
For more information and to get involved:
Join the ROCKRCOIN development community on WhatsApp
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Website: www.ROCKRCOIN.org
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Developer Portal: dev.ROCKRCOIN.org (Coming Soon)
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Community Forums: community.ROCKRCOIN.org (Coming Soon)
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GitHub: github.com/ROCKRCOIN (Coming Soon)
