A peer to peer money supply protocol

What is Units?o Cryptographic currency, Units (XUN)o Real-time payments protocol (consensus model)o Peer to peer money supply protocol

Supports ‘IOUs’ for anything of value, like EUR, USD, gold or Bitcoin. Open source, free distribution.

Native XUN currency intended as a reserve currency not needed for payments.

How Does Units Work?o Native currency Units (XUN)

RAM memory bitso Unlike Bitcoin: double entry accounting. All balances in

RAM. realtime payments

o Unlike Ripple, multiple concurrent networks. build bridges

Technology developed by Donovan Hide (now hired by Ripple Labs). Open source. Needs funding to finish, test and launch.

Comparing Bitcoin to Central Banks

BitcoinDecentralized

Peer to peer

‘Digital gold’

Impossible to counterfeit

Fixed supply (21 million BTC)

Fixed inflation (algorithm)

Accidental deflation (loss)

No bailouts (Mt Gox)

ECB / FedCentralized

President to president

Fiat (=unbacked) money

Money printer

Arbitrary supply

Arbitrary inflation (“con job”)

No deflation since 1914

Free bailouts (=tax payer)

USD Monetary Base 1984-2014

1984

1985

1986

1987

1988

1989

1990

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1994

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1998

1999

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2014

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

Inflation = con job!“Change You Can Believe In”

BTC Supply 2009-2042

2009 2013 2017 2021 2025 2029 2033 2037 20420%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Inflation slows down over time, eventually stops(deflation: accidental

losses)

How Does Units Control Supply?o Democratic mechanism: vote with RAM.o More RAM inflation. Less RAM deflation.o Should create price stability in long term.

Economies need real-time, peer to peer money supply (“smart”), not fixed algorithms (“dumb”), not arbitrary policy (“con job”).

The Units Solution

BitcoinDecentralized

Peer to peer

‘Digital gold’

Impossible to counterfeit

Fixed supply (21 million BTC)

Fixed inflation (algorithm)

Accidental deflation (loss)

No bailouts (Mt Gox)

ECB / FedCentralized

President to president

Fiat (=unbacked) money

Money printer

Arbitrary supply

Arbitrary inflation (“con job”)

No deflation since 1914

Free bailouts (=tax payer)

UnitsDistributed

Peer to peer

Reserve currency

Impossible to counterfeit

Democratic supply

Shared inflation

Shared deflation

Shared bailouts

Team!I am sourcing a team of 8-12 people to launch Units.

• Q4 2014: source team; launch crowdfunding• Q1 2015: launch protocol alpha • Q2 2015: get VC funding

Mathijs Koenraadthello@getunits.orghttp://getunits.org