  While democracy is founded on the principle of equal opportunity to manage
our lives and pursue our fortunes, the forms of money we have inherited from
millenia of evolution has brought us to an unsustainable dead-end of exploding
inequality. PoPCoin proposes to leverage the unique historical opportunities
that digital cryptocurrencies present for a "clean-slate" redesign of money, in
particular around long-term equitability and sustainability, rather than solely
stability, as our primary goals. We develop and analyze a monetary policy for
PoPCoin that embodies these equitability goals in two basic rules that maybe
summarized as supporting equal opportunity in "space" and "time": the first by
regularly distributing new money equally to all participants much like a basic
income, the second by holding the aggregate value of these distributions to a
constant and non-diminishing portion of total money supply through demurrage.
Through preliminary economic analysis, we find that these rules in combination
yield a unique form of money with numerous intriguing and promising properties,
such as a quantifiable and provable upper bound on monetary inequality, a
natural "early adopter's reward" that could incentivize rapid growth while
tapering off as participation saturates, resistance to the risk of deflationary
spirals, and migration incentives opposite those created by conventional basic
incomes.
