New Crypto Tools Help People Create Wealth Together
Article by Nils Elmark, Futurist and author of The New Local Economy
It all began in 1881 when a young dairy man by the name Jacob Stilling-Andersen on a winter course learned about a new centrifuge that could separate cream and milk far more efficiently than before. It was expensive, and none of the small farmers in his village could afford to buy one. ‘So, let’s buy it together’, Stilling-Andersen suggested. They did, and the first dairy cooperative in the country was launched. It was a gigantic success. Before the new dairy plant, the farmers had sold their butter at half the price the big manor dairies got, now they were paid even better. Over the next 20 years, 1168 new dairy cooperatives were established across the country and during this period the number of manor dairies dropped from 283 to 89. The butter from all the small dairy cooperatives was now called ‘Lurpack’ and it still exists today. Lurpack is sold in 120 countries and is still owned by the cooperatives.
In these times when globalization is roaring, and the tech giants continue to become ever more powerful it’s important to remember the story of Lurpack and how 100,000 poor farmers completely outperformed 2,000 rich manor owners on the butter market thanks to the way that they created and shared wealth.
For the last decade, media and venture funds have been obsessed with unicorns, that are startup companies worth more than a billion dollars. This is how we measure success in 2021. There are 743 unicorns in the world at this moment, which indicates that globalized business thinking is good at making billionaires. Concentrating wealth in very few hands.
But as the young dairy man Stilling-Andersen suggested, there are other ways of creating and sharing wealth. You can also create wealth together. A business model does not become stronger just because the business is owned by one man or one woman. On the contrary, when many people feel ownership of a challenge or a success their motivation combines and grows.
That is why OMNIA DeFi was founded. The incumbent business thinking is not directed at sharing within a community — but OMNIA is. If Stilling-Andersen had come to their platform today, the fintech would have put his venture on the blockchain and tokenized the dairy plant, and each farmer would be given a number of Omnia Asset Tokens (OATs) in accordance with his or her percentage investment in the cooperative.
But OMNIA takes the concept a step or two further. They are pooling their OAT tokens to support a more stable currency that they call Omnia Stable Coin (OSC). Unlike Bitcoin where you have to just trust or not, or even gold, which everyone just assumes to holds value, OATs are tied by smart contracts to tangible assets and their real-time values. It may be a share in a dairy plant, but it can also be a share in a piece of art or a piece of farmland in a developing country. By in a way turning tokens into a spendable crypto currency, the owners get access to their own values in case they need it for other purposes.
The small Danish farmers did not have a fintech option in 1881. And we are also not there yet. The OMNIA DeFi team has only just begun their journey — they are where Stilling-Andersen was when he said, “Let’s buy it together then”. The innovative company run by a small group of people with excellent credentials wants to make it possible in the near future, and at the global level, for everyone to more conveniently and securely create and share wealth based on the core idea of crowdfunding. They are still in the fundraising stage to build the platform and tools. Round 1 pre-sale of $OMNIA utility tokens used for startup funding is ongoing, and Round 2 will close August 22, 2021. It is worth everyone’s while to have a look at their website and participate in their Telegram chat.
Telegram — chat: https://t.me/omnia_defi_official
Telegram — announcement: https://t.me/omnia_defi_annoucement