How was the first Libre Currency; Ğ1, created?

Category Understanding the basics

In 2008, in the eye of the storm of the global financial crisis, an engineer, chess commentator and mathematician, Stéphane Laborde got an interest for the stock market and macro-economy. He read, amongst many books, Agrarian Justice, a pamphlet written by Thomas Paine in 1797. At this time, in 2008, Bitcoin had just emerged, and lots of alternative currencies began to appear in video games, etc.. He saw in cryptocurrencies an opportunity to invent a monetary system that would have clear rules, based on humans beings and physics.

Money couldn’t be a way to store value, as Aristotle wanted, simply because value evolves throughout time, and one generation’s way to think about value might be very different from the next one.

Money should be, for each generation, a non-biased way to measure exchange, just like the meter is a way to measure distance. Money should not be a way for bankers to decide what the world should look like.

Stéphane Laborde wrote the book; The Relative Theory of Money in 2010, in which he defined and the economic policy and money creation algorithm that became the backbone of the Ğ1 Currency.

After a few years working with developers from the Libre Open Source Software community, Ğ1, the first Libre Currency, was created in 2017, using the Duniter Blockchain.