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A DAO governed Fiat currency. Democratizing money rooted in people-first identity1-10 Employees
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Jobs at Commonwealth

Current economic modalities are becoming stressed and stretched, facing uncertainties that central banks are increasingly unable to solve for with existing mechanisms of money creation/management. At the same time, Meta's Libra/Diem project is already a shot across the bow of bank managed money with corporate issued/managed money seemingly a near future reality. What Commonwealth aims to provide is the necessary mechanisms to underwrite a new decentralized Fiat currency, committed to people and the commons above all else. This is not a stable coin, nor some arbitrary token, but instead intended to become an honest-to-God currency, targeting usage for payments, commerce, and investment/insurance offerings that will follow. This new monetary base will be governed by a DAO via fraction based monetary policy tunings. The DAO's governance layer will be realized as a kind of federated DAO-of-DAOs, rooted in people first and reputation based identity leveraging W3C DID for identity. From this foundation of Monetary Base + Reputation Aware DID + Federated Governance, additional service layers begin to provide what's being called "Social Insurance 2.0": insurance as a unifying means to underwrite and secure social mobility, and redefine a sustainable social contract for the 21st Century.

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