Peer 2 Peer Global Network: designs an international economic model that serves the unemployed - those in need

As the debate broadens about the future of work in the context of the current industrial revolution, what seems clear is that the chronic unemployment and job instability affecting, especially young people, in addition to their distrust of politics, hold devastating consequences for society as a whole.

Every year around the world, 40 million young people – 400 million in a decade- join a labor market that is not growing enough. Around 200 million people are out of work and as someone rightly warned that if the economy does not prove capable of finding a solution, we are going to find ourselves with a lost generation, bringing with it a loss of human capital, social exclusion and dislocation.

Rising unemployment results in loss of income for individuals and reduced collection of taxes for governments, hence impacting progress and increasing spending on unemployment benefits and social subsidies. Long term unemployment can also affect social cohesion, lead to negative opinions about the effectiveness of democratic models, prompt cross-border migrations, threaten the economy of trading partners.

Introducing P2P

It has been mentioned already of the fact that unemployment is a serious and increasing problem in modern societies. The P2P project seeks to completely change turn around the problem into recourse by giving backing to decentralized applications which will help people in having a stronger privacy and transparency with the aid of the blockchain infrastructure.

The idea here is to have a unique global ecosystem focused on leveraging innovative technology in the form of a global decentralized autonomous organization (DAO) operated by token holders and created by brains behind P2P.

The main objective of the P2P project is to design an international economic model that caters for the unemployed – the needy. For a detail look at the objectives of the platform, the following stand out:

To have an economic model that will compensate the needy since the wages will be determined before hand through defined sophisticated smart contract, targeting the unemployed as beneficiaries.

Design a decentralized economy that will be of help to the users depending on their needs and the contribution they make through smart contract.

It is also to have a disaster assistance program for those affected by such calamities. Help will come in the areas of food and lodging.

Very importantly, the idea seeks to establish a market ecosystem for members so that the platform’s tokens are used in paying workers for work carried out.

The platform in a way of summary is a decentralized peer to peer network application having the prospects to be of financial benefit to its members in the instances of them becoming unemployed.

Membership comes through a crowdsourcing distributed consensus among peers of the network.

The problem

Partiality that that often comes with a centralize point of authority.
The data collection process is not transparent
Issues of human error
The fact that data storage system is penetrable is a problem

The solution with P2P Global network

Unidentified crowdsourcing decision procee
A blockchain ledger that is not disputable
Trusting trigger executed smart contracts
Distributed data ledger
A transaction validation process that is not controlled by the cartels.

Problems with similar platforms

In an age of the internet of all things, the idea that this platform is bringing up has been tried by a number of platforms but the following sticking issues persist:

Lack of data privacy
Cost associated with user verification
Long inefficient chains of middlemen

How P2P will handle the challenges

It is important to mention that in tackling the issue of privacy, the project is completely decentralized so that, a single authority does not access the data. Moreover, the uploaded files done by the user will be kept in the IPFS.

Also, the idea is to remove the middlemen and it is done with DAO so that every person/entity is monitored by the system to be sure that those in need get high-level support within the agreed time framework.

The fact that the model does away with intermediaries automatically resolves the issue of high cost associated with such endeavors.

Token type

The team settled for ERC 20 because of the inherent superior features along the lines of the interoperability of applications.

Token information