Originally published on Digital Currency Executive Brief

 

One of the things that makes DNotes truly unique in an industry packed with rival digital currencies is the fact that the DNotes currency doesn’t exist within a vacuum. Instead, it exists within an entire ecosystem of products and services designed to support and facilitate its overall mission. The components of that ecosystem were all specifically created to further DNotes’ goal of achieving mass acceptance and adoption, while simultaneously providing invaluable services to the industry and public. Our innovative CRISP offerings are a perfect example of how that works.

As a core component of the DNotes ecosystem, CRISP is strategically linked to that system and was created to help us achieve DNotes’ ultimate objective: becoming an inclusive digital currency in global commerce, for the benefit of everyone. In this article, I will explain how CRISP fits into the DNotes and DNotes Global model in a way that benefits everyone on the network.

 

What IS CRISP?

CRISP, short for cryptocurrency investment savings plan, is a self-directed and decentralized DNotes savings plan that pays interest in DNotes on DNotes balances directly from the blockchain.

 

A Brief History of CRISP

CRISP has evolved over the years from its original iterations. CRISP started as a retirement savings program called CRISP for Retirement, which was funded by the DNotes team and paid interest to users who would lock up funds for a specific amount of time. In return users received a monthly interest payment from the DNotes team, automatically paid to their DNotesVault retirement account. The retirement program was immensely popular and the original one million DNotes to be paid in interest, which was intended to last about 5 years, was depleted in just over two years.

Later we started the CRISP for Kids program, to encourage parents to create savings programs for their children and grandchildren and teach their kids about the importance of developing strong saving habits early in life. This program became popular very quickly as well, with gifts from the DNotes team for the kids who had funded CRISP for Kids accounts.

The DNotes team continued the concept and created CRISP for Students, CRISP for Employee Incentive Benefits, and will be creating a CRISP for Charity – templates that can be rapidly scaled up at the right time.

Eventually, we realized that the popularity of the programs we were creating would cause us to run out of DNotes to support these efforts. We determined the best way to handle this problem was to integrate the CRISP program as part of the blockchain block reward and make it a crucial element of the DNotes new coin-generation process. Not only would that enable CRISP over the long-term, but it would also make the generation of new coins more equitable and accessible to everyone, regardless of whether they were staking.

 

Fixed Rate Permanent Interest 

Users earn 0.5% DNotes every CRISP payment cycle of 30 days, paid directly from the blockchain on any DNotes that have remained at the same address for the entire CRISP period. Other interest-bearing accounts frequently change the interest rate, and to provide competitive rates they rely heavily on debt, or speculative investing with customer funds.

 

Compounding Interest Enhanced by Staking

CRISP not only offers interest that is compounded monthly, but users may also stake their DNotes at the same time, earning both CRISP interest and the staking reward.

 

Inclusive and Decentralized New Money Creation

CRISP is an inclusive program that anyone, anywhere in the world can participate in simply by owning DNotes. Instead of new money being created mainly by private corporations or governments, all DNotes users are involved in the money creation process. This also means newly created coins are distributed to those who have DNotes best interests in mind, the stakeholders, instead of miners.

 

No Setup or Reliance on Third Parties

Unlike typical savings accounts, CRISP does not require any setup, or a bank or investment account. All you need to access the CRISP programs is access to an internet connection and some DNotes. Since the DNotes for CRISP are generated from the block reward, the rate is fixed and there is no external entity to mishandle your savings or invest your money.

 

Encourages Saving and Protects the Value of DNotes

CRISP promotes investment and savings for the DNotes currency and works to protect the long-term value of DNotes. Instead of encouraging users to spend money right away to vitalize the economy, DNotes CRISP fosters long term saving to protect the individual user.

 

Supports the Continued Growth of the DNotes Ecosystem

DNotes Global, Inc. is a for-profit company whose mission is to promote and protect the DNotes digital currency and grow the DNotes ecosystem. The CRISP program is also designed to help the company in its mission by providing interest on the DNotes owned by DNotes Global in the cross-ownership model.

 

Not Just Savings and Interest but also a Promotional Tool

The CRISP program is not only a savings program, it is a promotional outreach and marketing tool to help DNotes reach more people. As such we will have targeted campaigns to help people save and grow their wealth and as an incentive program for DNotes users.

 

The Future of CRISP 

The models we have created for CRISP are all templates for targeted savings plans which can be marketed individually and encourage the participation of DNotes digital currency. This can be scaled rapidly and expanded into other niche savings and incentive programs.

In the future, DNotes Global intends to have its own team for managing funds for organizations and charities, in which CRISP will play a critical role as not only an investment vehicle for these organizations but also as a tool for stabilizing and growing the DNotes currency.

In short, the DNotes CRISP strategy continues to be an essential component in our long-term strategy for making DNotes an inclusive supplemental digital currency that provides financial empowerment for people around the globe. It remains a truly unique and innovative program that can help real people better manage their savings needs.