Udego Finance: A Monetary System for the Digital Age
The idea for Udego Finance came about on the World Wide Web. Blockchain hype, and its unfortunate associations with Bitcoin motivated the creative development of a money framework that is underpinned by a shared database rather than a blockchain. The current proposed concept behind Udego Finance is one possibility of many.
Udego Finance is a monetary system for the digital age. Though blockchain’s early and important role in Bitcoin is well known, the Udego team wanted to explore other ideas and solutions for effectively storing, transferring and exchanging information as a representation of ‘value’.
The proposed concept here is only one possibility of many and also serves as an experiment in monetary exchange.
Udego Finance is a monetary system for the digital age in which individuals would have access to a vault on a shared database. Your vault would also serve as a wallet, similar to a multi-signature system, and could facilitate instant payments by utilizing the shared ledger that may or may not be secured with blockchain technology.
The inspiration for this new monetary system came from open-source software projects on the World Wide Web where many individuals share their knowledge, skills, and experience in a diverse group setting.
The Udego Financial platform aims to create a monetary system for the digital age. Our concept is rooted on two basic principles: First, our platform will be built upon a shared database and not the blockchain. Second, our platform will allow all actors in the financial industry to interact freely rather than being confined by ill-fitting standards.
Udego Finance is a monetary ecosystem based on the Udego Monetary System. A nontraditional and viable choice as a global medium exchange system, as well as an experiment in monetary exchange.
In this article, we introduce the idea behind Udego Finance, which will be built on top of a database rather than a blockchain.
Udego Finance is a monetary system for the digital age. It embraces the technology that allows everyone to create, transfer, and store their own cryptocurrencies to facilitate virtual exchange in a secure and transparent manner. Three core tenets — collective memory, dynamic movement, and collective judgements — form the basis of this proposed system.
Udego is a monetary system centered around an open-source, shared database of information. This database facilitates the creation and distribution of new monetary units that are used to facilitate transactions on the network. These transactions facilitate the creation of new transactions flowing in either direction. The nature of these transactions are read-only and therefore cannot be forged or altered due to their cryptographic security.
All the pros of money are found in this new and improved version, but with a fresh take on finance that takes into account the digital age. As believers in the power of blockchain and its associated technology, we instead aimed to develop a new type of system that puts common interests and values over financial gain while making way for a return to more personal economic exchanges.
In being digitised, it becomes possible to experiment with monetary exchange.
Monetary exchange is sometimes cited as the most fundamental expression of human commerce. Its evolution has mirrored the development of human civilization, with the first known money systems evolving before the advent of writing. As technology evolves and offers new ways to solve complex problems, it is at our disposal to develop a new system of money that can overcome many transmission and security issues encountered using traditional methods.
Information About Udego,
Website — https://udego.finance/
Whitepaper — https://udegofinance.gitbook.io/udego-finance/social-accounts
Telegram — https://t.me/UdegoFinance
Twitter — https://twitter.com/UdegoFinance
Facebook — https://www.facebook.com/UdegoFinance
Reddit — https://www.reddit.com/r/UdegoFinance
Medium — https://udegofinance.medium.com/
YouTube — https://www.youtube.com/channel/UCfQen7asIoWe_GLDtz_hQ7
Bitcointalk username : Lauria Lambolia
Bitcointalk profile url : https://bitcointalk.org/index.php?action=profile;u=3397945
BEP-20 wallet address: 0x028fB5774042593daF0A3ce501C2CBc939a4bdC5