Categories: CryptoNews

HERMICITY Releases Technical ‘Rainbow’ Paper

Hermicity is a new project under Ethereum ecosystem that will allow people to pay for the delivery of supplies to homes in remote areas using Blockchain technology and drones. The project is being developed by an 18 years old Australian programmer. 

Ethereum is a platform that facilitates developers to unleash their creativity, building Dapps and services that simply cannot run on other Blockchain protocols.

John Dummett, an 18 years old coder and designer from Australia with previous working experience at CoinJar -Australia’s biggest Bitcoin Exchange, came up with the idea to send packages of Soylent -A nutritionally complete and cost effective food- using a combination of drones, smart-contracts, and ether to Hermicities -a collection of isolated homes were people live in a state of semi-retirement, with little social interactions.

The project’s website was updated with a new design and the release of Hermicity’s Rainbow paper:

A main pillar of society is the assumption that we need eachother to survive. Previously the hermit lifestyle was a dangerous and largely uncomfortable one. But with Hermicities this isn’t the case anymore.

Hermicities are towns where homes are scattered in -preferably- remote areas, citizens of a Hermicity can choose to live a life of solitude with little to no social interaction. The Rainbow paper describes the general methodology to choose and build a Hermicity:

Related Post

Proposals are submitted via IPFS to the Hermicity forums, detailing a potential Hermicity. The eligibility of each proposal is assessed with a prediction market, key metrics being viability (as a percentage) and estimated capital gain (in Ether). This provides a rough consensus as to whether the particular Hermicity proposed should move to the funding stage.

The project will use a general DAO framework with subsequent improvements to allow room for growth. As with Slock.it proposal to the DAO, Hermicity will require a real world custodian -a legal entity- similar to DAO.Link to interact and comply with government’s legislations.

Up until very recent technological advancements, we were social creatures by necessity as living alone was costly, unsafe and uncomfortable. We’re going to make living alone accessible.

Hermicity is a project that seems like science fiction, it combines elements of the Ethereum technology stack to create self-sustained cities and communities. Is it a longshot? Only time will tell.

Apple users can now download the app of The Merkle in the App Store!

If you liked this article follow us on twitter @themerklenews and make sure to subscribe to our newsletter to receive the latest bitcoin and altcoin price analysis and the latest cryptocurrency news.

Eduardo Gómez

Eduardo Gómez is a Computer Science Major from Venezuela, a country with a loyal Bitcoin user base. He discovered Bitcoin in 2012 and now he use it to escape the triple-digit inflation that Venezuela suffers, he is focusing on developing a writing career, and he tries to keep up with the news in FinTech and Blockchain Technologies.

Share
Published by
Eduardo Gómez

Recent Posts

Ethena Expands Partnership With Anchorage Digital to Strengthen Institutional Lending

Ethena is not slowing down. The protocol just announced an expanded partnership with Anchorage Digital,…

12 hours ago

Mastercard Adds Stablecoin Settlement to Its Global Network, USDC, PYUSD, RLUSD and More Now Live

Mastercard just made one of its biggest moves into crypto yet. The global payments giant…

12 hours ago

Bitcoin Crashes Below $67,000 as $700 Million Wiped From Crypto Market in Hours

Bitcoin is bleeding. The world's largest cryptocurrency plunged to $66,997 on Tuesday, shedding over $6,750…

2 days ago

Ripple’s RLUSD Goes Live in Türkiye, Hits $1.7 Billion Market Cap

Ripple is not pausing for breath. The company has brought its dollar-pegged stablecoin, $RLUSD, to…

2 days ago

Bitwise Launches Its First Tokenized Fund With $259M in Assets and 4% Annual Yield

Bitwise Asset Management has just made its first move into tokenized funds, and it comes…

3 days ago

Binance Launches US Stocks and ETFs Trading for Non-US Users With Zero Commission

Binance just made a move that blurs the line between crypto exchange and traditional brokerage…

3 days ago