We need altcoins as long as we interact economically over the net, with people we do not know (or simply with people outside our local communities). If we try to imagine what qualities a “solarpunk coin” should have, what are your thoughts? Do we know any existing coin, checking all boxes? This question is more about political economy of Solarpunk, then its technology.
Cryptocurrency is, with few exceptions, looked at with scorn by most solarpunks. This is due to the technology itself being almost exclusively used by grifters and scammers, as well as some inherent problems to the technology itself, which are wonderfully explored in this Folding Ideas video on Crypto, DAOs, and NFTs.
But to answer your question, I think one of the few viable options would be something based on GNU Taler, which is a sort of anonymous digital cash that is distinctly not based on cryptography at all, and thus avoids the unbelievable waste of energy that most Cryptos are plagued with.
Thank you for mentioning GNU Taler.
I have freshly read an interesting article https://www.leafscore.com/blog/the-9-most-sustainable-cryptocurrencies-for-2021/ (the link is weirdly recycled, it is a 2024 piece), showing that there is a number of altcoins (and I use this term deliberately - no ETH or BTC included) trying to solve both the technical and political faults of the initial concept. I believe that, if one designs a currency properly in political sense, the technology can be adjusted as well.
I’m skeptical if such a thing can be done with crypto specifically.
As an example, the top coin in that list, Solarcoin, uses a Proof-of-Authority model, which while very energy efficient, is also difficult to decentralize, and vulnerable to the ‘authority’ acting maliciously. It’s cool that it’s based of solar power generation, but I can’t help but feel that just means the people who are wealthy enough to own solar panels would become rich compared to the have-nots?
Stellar, on the other hand, uses a Federated Byzantine Protocol, which… Honestly it’s too late for me to try to understand it 😅
I guess I have to ask: what is the goal of the theoretical altcoin? Are we spitballing a currency for a post-capitalism world? Something for us to use in the here and now to avoid PayPal fees or zelle? A method for activists to covertly transfer funds?
The reason why will inform the what.
Partly, I answered here: https://slrpnk.net/post/14539748/11723741
As for the scope of it, I see it as a bridge solution for the stage where we still have to interact with capitalist realm, but can already start building our own (post-capitalist, solarpunk, anarchist - whatever the name) real economy, so we need an inter-community exchange token. There should (nor will) not be a uniform solution for every community involved, so we need something to use as a mediating value carrier.
As such, it may retire at some point in favour of something better suited to the new world needs, or survive - like gold today - in mostly symbolic role.