Neco Constitution

Our values and principles

“Corporations, money and nations exist only in our imagination. We invented them to serve us; why do we find ourselves sacrificing our life in their service?”

Yuval Noah Harari

Content

Preamble        3

1. Equality        4

1.1 Universal equality        4

1.2 Equality of humans        4

1.3 Freedom        4

2. Sustainability        5

2.1 Conservation        5

2.2 Sustainable incentives and taxation        5

2.3 Recycling        5

3. Diversity        6

3.1 Ecological diversity        6

3.2 Cultural and economic diversity        6

3.3 Right of self-determination        6

4. Sufficiency        7

4.1 Basic needs        7

4.2 Happiness over growth        7

4.3 Limitations to individual wealth        7

5. Solidarity        8

5.1 Serving the common good        8

5.2 Cooperation over competition        8

5.3 Non-aggression principle        8

6. Transparency        9

6.1 Data sovereignty and privacy        9

6.2 Public disclosure        9

6.3 Traceability and accountability        9

6.4 Fraud detection and prevention        9

6.5  Truth over myths        9

7. Stability        10

7.1 Neco Reserve        10

7.2 Positive Money        10

7.3 Value stability        10

Addendum        11

A1. Updating this constitution        11

A1.1 Adding an article        11

A1.2 Modifying or deleting an article        11

A1.3 Structural changes        11

About this document        12

Preamble

At the beginning of the new millenium, we are facing increasing economic, social and environmental challenges on a global scale. Our financial system is bankrupt, inequality is rising, and our home planet is dying. Our activities have severely harmed our mother Earth, threatening the life and survival of many species on Earth, including ourselves.

The time has come to take responsibility for our actions and create a better future for all living beings on Earth. We, the Neco community, are determined to manifest our vision and build a sustainable financial system that serves the people and the planet.

The Neco Constitution establishes the fundamental principles of the Neconomy, a new economic paradigm that serves the common good. It sets the rules that govern our system, guides our actions, and keeps us on our path towards love, peace, and happiness.

The Neco Constitution enshrines our 7 core values of equality, sustainability, diversity, sufficiency, solidarity, transparency and stability in order of their importance and priority.

In light of our belief in the Neco Constitution, we encourage others to join and commit to following these principles by signing the Neco Constitution. Through power in numbers, we will become successful. Please visit www.neco.finance, register for Neco, or contact join@neco.finance for more information on how you can become part of the Neco movement.

1.        Equality

“Humans are a part of nature, not apart from nature.”

Marc Bekoff

Equality means fairness, impartiality, equal access, treatment, and status. Enjoyment of all rights and freedoms must be guaranteed without discrimination on any ground including race, gender, religion, age, or nationality.

1.1        Universal equality

1. All life is equal.
2. All living beings have the right to live in dignity and be treated with respect.

1.2        Equality of humans

1. All humans are equal.
2. All humans have the right to self-determination.

1.3        Freedom

1. All humans are born free and have the right for self-determination over their own bodies.
2. We respect freedom of opinion, religion, press, movement, love, marriage and sexual orientation.
3. The freedom of the individual ends where it limits the freedom of others.

2.        Sustainability

“Growth for the sake of growth is the ideology of the cancer cell”

Edward Abbey

Economy and ecology must go hand-in-hand. Protecting the environment and conserving natural resources are of paramount importance for our collective future.

2.1        Conservation

1. We must leave the world a better place than we inherited.
2. Our natural resources must be protected.
3. The survival of an entire species must be prioritised over the survival of individuals.
4. The functionality of ecosystems must be prioritized over protection of single habitats.

2.2        Sustainable incentives and taxation

1. Sustainable solutions and activities are to be incentivized and supported.
2. Unsustainable solutions and activities are to be taxed, reduced, phased out, or prohibited.
3. Every person or corporation must take responsibility for their ecological footprint.

2.3        Recycling

1. Resources must be recycled.
2. Non-renewable resources should be avoided and disposed of properly.

3.        Diversity

“Our diversity is our strength. What a dull and pointless life it would be if everyone was the same.”

Angeline Jolie

Diversity is an essential requirement for collective intelligence. Embracing variety, heterogeneity and differences amongst individuals, organizations, and societies provides opportunities for choice and personal freedom.

3.1        Ecological diversity

1. We must protect at risk ecosystems and species to maintain ecological diversity.
2. Areas of high ecological diversity are to be protected and prioritised.

3.2        Cultural and economic diversity

1. Languages, cultures, and traditions are to be protected and respected.
2. Monopolies and cartels are prohibited.

3.3        Right of self-determination

1. Local communities have the right of self-determination within the global framework.
2. The global community can limit the right of self-determination if it encroaches on the good of the global community.  

4.        Sufficiency

“The world has enough for everyone’s needs but not enough for human greed.”

Mahatma Gandhi

We have to accept that infinite growth is impossible on a planet with finite resources. Resources should be shared to ensure that everyone has enough.

4.1        Basic needs

1. Every human has the right to clean water, food, shelter, education, healthcare, and justice.
2. We strive to provide universal basic income
3. Access to clean energy
4. Free access to information via the internet

4.2        Happiness over growth

1. We measure prosperity through the Community Happiness Index where happiness is more important than money.
2. Infinite growth is impossible and must not be an economic goal.
3. We must be mindful of the rate and speed of population growth.
4. Work-life balance is to be prioritised and encouraged.
5. Eco-sufficiency through decelerating, decluttering, decommercializing and decentralizing must be encouraged.

4.3        Limitations to individual wealth

1. The concentration of individual wealth and power must be limited.
2. The inheritance of wealth must be limited.
3. Consumption of resources must be limited to ensure that everyone has enough.

5.        Solidarity

“The first step in the evolution of ethics is a sense of solidarity with other human beings.”          
Albert Schweitzer

Collaborating and helping each other has been a critical success factor in human evolution. Cooperation and collaboration trumps competition as it creates harmony and gives us the power to create change.

5.1        Serving the common good

1. The Neco community must collectively finance activities that serve the common good.
2. Owning property comes with an obligation to use such property to serve the common good.

5.2        Cooperation over competition

1. The Neocracy is built upon the cooperative principles of self-help, self-responsibility, and self-management.
2. Humanity is one and must cooperate across borders and nations.
3. The global community must support individuals and groups who suffer from poverty, repression, natural disasters, wars, and conflicts.

5.3        Non-aggression principle

1. The initiation or threat of physical violence against an individual or group is prohibited.
2. People and nations have the right to defend themselves, but not the right to attack others.

6.        Transparency

“We believe that transparency creates trust. “
Julie Sweet

Openness and accountability are essential principles of the Neco financial system. It promotes honesty and trust within the community and reduces corruption, fraud, and other illegal or immoral activities.

6.1        Data sovereignty and privacy

1. Each member must have full access and control of their personal data.
2. No data must be shared with others without its owner’s consent or as required by law.
3. Sensitive data should be pseudonymized.

6.2        Public disclosure

1. The rules and regulations of the Necosystem must be public.
2. Core financial data such as money supply and reserves are to be published and kept up to date.
3. Organizations and individuals receiving public funding are required to disclose the use of such funds.

6.3        Traceability and accountability

1. Currency tokens must be tracked as they move hands creating a digital footprint.
2. Parties and products must be open to public reviews and ratings.
3. Freetax payments are to be public.

6.4        Fraud detection and prevention

1. Fraud and corruption are to be prevented and prosecuted.
2. If a person suspects or witnesses fraudulent behavior it is incumbent that they report such behaviour and have the mechanisms and support to do so.
3. Witnesses must be protected from retaliation and rewarded for their actions.
4. Persons and organizations found guilty of fraud or deception should be banned from the Necosystem.

6.5         Truth over myths

1. Denial of facts must be prohibited.
2. Fear and panic must be avoided.

7.        Stability

“When stability becomes a habit, maturity and clarity follow.”
B.K.S. Iyengar

Only a reliable, non-volatile currency allows saving money and planning for the future. By eliminating inflation and speculation on a currency, the community can trust in its future value and use it as a stable means of exchange.

7.1        Neco Reserve

1. All tokens within the Necosystem must be exchanged through the Neco Reserve with consistent pricing.
2. The Neco Reserve must be decentralized.
3. The Neco Reserve must be protected against bankruptcy and bankruns.

7.2        Positive Money

1. The Neco is a positive currency and must not carry debt.
2. The Neocracy must not charge interest.
3. Money must serve the common good rather than itself.

7.3        Value stability

1. The Neco must be free from inflation.
2. The volatility of the Neco must be limited.
3. The Neco must be free of transactions costs.
4. The Neco must preserve value over time.

Addendum

A1.        Updating this constitution

This constitution is developed collectively. All Neco users can propose changes.  Once a change is proposed, it will be put to a petition. 10% of all eligible Neco users must support the change for it to be put to a Collexa referendum. The below articles set out the thresholds that must be achieved for the relevant change to pass.

A1.1        Adding an article

1. Adding a new article requires a simple majority of all votes (i.e., more than 50%).

A1.2        Modifying or deleting an article

1. Modifying or deleting an article requires a vote of more than ⅔ of all votes (i.e., more than 66.6%).

A1.3        Structural changes

1. Changes to the structure including adding or removing principles require a vote of more ¾ nof all votes (i.e., more than 75%).

About this document