The European Blockchain Association XSC Reward System – Combining Intrinsic With Extrinsic Motivation

The European Blockchain Association – as a decentralised semi-autonomous organisation – relies on the active participation of its members. Beside acknowledging the intrinsic motivation of each EBA member to actively add value to the ecosystem, the EBA supports and rewards useful community activities by distributing crypto currency CrowdstartCoin XSC.

CrowdstartCoin XSC is an ERC20 crypto currency that was created in 2017 by Crowdstart Capital CSC in order to reward developers who add valuable code to the blockchain ecosystem. During the launch of the European Blockchain Association, CSC decided to donate 40% of its total XSC supply to the EBA.

EBA will provide each new member at the successful membership application with the same amount of (free) CrowdstartCoins XSC. In the first phase, each new member will receive 2.000 XSC.

The EBA uses CrowdstartCoin XSC for two purposes: first, XSC will be rewarded to EBA members that add value to the EBA community, and second, XSC will serve as the internal currency for the exchange of goods and services within the EBA community. Please see below the first version of the EBA benefits catalogue with the respective amounts of XSC per benefit and per year. Each member may make use of her CrowdstartCoin XSC to pay for the respective benefit provided by the EBA.

European Blockchain Association Benefits Catalogue
(All amounts of XSC as per year)

500 XSC – Digital use of the official European Blockchain Association logo
1.000 XSC – Use of an individual European Blockchain Association eMail address @eublas.org
2.000 XSC – Offer consulting, graining and other services to European Blockchain Association members
2.500 XSC – Lead a working group
3.500 XSC – Start a local European Blockchain Association hub
5.000 XSC – Start a national European Blockchain Association hub

This catalogue will be changed and extended over time. If you have questions or suggestions regarding the catalogue, feel free to join the conversation in the official EBA Slack channel eublas.slack.com.

Welcome Startup Accelerator Crowdstart Capital And Crowdstart Coin XSC!

Today, we welcome Crowdstart Capital as a new member of the European Blockchain Association! Crowdstart Capital, or CSC, will take over the EBA accelerator node with the mission to promote blockchain-based startups throughout Europe.

As part of the deal, CSC will bring 40% of the total amount of their Crowdstart Coin XSC crypto currency. XSC has been around for some time in the crypto space. It has been distributed by CSC for free to reward developers and engineers for adding valuable code to the blockchain community. You can read more about the CSC story here.

We at the EBA will distribute XSC to our members – as a starter when they actually become members, and throughout their membership for activities and assets they add to the blockchain community. We are in the process of defining specific activities and will publish a list of these, later on. Our goal is to use XSC as the EBA’s currency, or the financial lubricant that facilitates the EBA incentive scheme. 

It’s an experiment and we can’t guarantee that it will work out as expected. We probably will have to adapt the scheme now and then, and we are open for suggestions for improvement. Feel free to contact us and discuss the Crowdstart Coin XSC with us!

Founding The European Blockchain Association

We are very happy to announce the founding of the European Blockchain Association EBA! The EBA has been incorporated as a German association, called “Verein”, in Berlin, with an additional office in Munich. The EBA’s mission is to empower the European blockchain ecosystem by combining, synchronizing and leveraging blockchain-related activities of European corporations, startups, venture capitalists, and scientific institutes. The EBA serves as a superior, neutral body to aggregate and coordinate blockchain activities throughout Europe and to provide Non-European parties with a direct API into the European blockchain ecosystem.

The EBA is designed as a so-called Decentralised Semi-Autonomous Organisation DSAO with each separate entity acting as an independent node, connected with others through a blockchain protocol, with a governmental framework as stipulated in the EBA statutes. The EBA is internally organized and powered through blockchain-based payment and accounting protocol leveraging the crypto currency XSC.

The EBA sees itself as a protocol and toolset with the single purpose to serve its mebers. Although the association itself is a central legal entity, the statutues only serve as a necessary link to the real world, with its laws and regulations, as well as its communicative needs. The EBA founders are deeply convinced and inclined to create and operate the EBA as a DSAO as much as possible. The essence of a DSAO is not only the almost complete absence of a central authority, but foremost the implementation of an incentive scheme that incentivizes individual community members to actively participate in and add value to the network. With its blockchain-based payment and ledger protocol RAAY and the crypto currency Crowdstart Coin XSC, EBA members participate in a network that rewards actively and consistently added value to the blockchain ecosystem at large.

We encourage you to join the European Blockchain Association if you are a member of the blockchain community! Contact us, connect with other members and actively participate in building the blockchain ecosystem!