The Social-Economic Community
Where your worth is the contents of your character, not the contents of your wallet
Money doesn’t make the world go round - family, friends, community, knowledge, skills, actions and interactions - these are the things that have value. Our value extends beyond that which is held in a bank.
Secco was founded with a mission to reinvent banking. We are disrupting the age old concept of a bank - going beyond the FinTech optimisation of recognisable financial products and familiar customer experiences - and literally giving individuals the power to define, create and hold their own money.
Secco enables the value of the social-economic community to not only be recognised but realised too - encouraging growth in societies value.
So how on earth does Secco do that?
By creating Aura - a proximity based social discovery app where users create value tokens backed by their reputations.
- Broadcast your Aura and reveal your true value.
- Scan for Auras and discover the value of people and businesses around you.
- Interact Aura to Aura trading value tokens and adding value to your reputations.
Secco Aura brings the social transparency and reputation trading of the digital ecosystem into the physical space - blurring those worlds and opening up interactions previously not possible. Pay a compliment to someone on the bus, donate a time token to a charity collector on the street, broadcast coupon tokens for your customers to collect, exchange a tea token for a teaching one with a colleague when you’re stuck on excel. With every interaction your reputation grows.
Through Secco Aura we are seeding a future economic model, based on reputation. One that realises the value in your values and pays interest on how interesting you are.
What’s under the hood?
We’ve taken some of the best emerging technologies and are pushing them further. Essentially the value tokens are containers for users’ data - to store this data we’re creating a Reverse Cloud architecture to give ownership of data back to customers.
To secure the tokens we’ve extended blockchain technology to something we call blocktree. This enables online AND offline certified creation and transmission of digital assets. Finally, we’ve taken the concept of the Internet of Things and created a visible Internet of People with a Pokemon Go like hyper-location channel, Aura.
We’ve always traded in non-monetary assets and built networks based on reputation but it has been mostly offline and small scale within peer groups. Digitally we can learn things about thousands of people all over the world before we choose to interact with them, but in real life we can only see what’s on the surface - not what that person needs or has to offer.
Now it is technically possible to bring the best of these two worlds together. In this new world transparency increases trust, breaking down social barriers, over-coming digital loneliness through real world connections and enabling a system that encourages people to build their reputational value - a world where your worth is the contents of your character.
We’ve achieved a great deal in a short-timescale with limited resources. We have built an alpha version of Aura and have validated that it is technically possible. We’ve shaped a proposition and proven that customers like the concept. We have a tangible framework for the future of banking - now we simply need to build it out!