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Asgardia’s First
Economic Forum October 26 - 28, Nice, France

Chaired by the Head of Nation Dr.Igor Ashurbeyli, a Forum dedicated to the development of financial and economic systems of Asgardia took place between the 26th and the 28th of October in Nice, France.

International experts, and members of the Asgardian Parliament are collectively coming forward with feasible proposals for the economic structures of the First Space Nation throughout the course of the three-day summit.

The organisers are tasking the Forum with an extremely ambitious goal – to construct the future economic system of a fundamentally new Nation.

The basic premise behind the Space Nation’s existence requires an unconventional approach and new solutions. Many solutions that are functional for traditional economic systems fail in radically new conditions Asgardia creates. It opens up a new window of opportunities for inventing, testing and experimenting with groundbreaking ideas.

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Memorandum from the First Economic Forum

On the 26th to the 28th of October 2018 Head of Nation Dr. Igor Ashurbeyli chaired Asgardia’s First Economic Forum in the City of Nice. The forum was tasked with starting the construction of the future economic system of a fundamentally new nation.


The Forum was attended by representatives from the professional economic community, and, by economic-minded Asgardians who presented their ideas and concepts of what a future system might look like.


The Memorandum from the Forum sets out a general overview and outlines the next steps that the nation needs to take towards developing a suitable economic system.


You can read the full text of the memorandum here.

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Asgardia’s Economic Forum Coverage

At the end of the first day of the Economic Forum, participants were so engaged with the interesting and varied topics that looked at Asgardia’s Economy from a range of cultural and geographical angles that many people continued to discuss and debate.

The participants of the Forum came together as a team with the experts sharing their knowledge and experience with the presenters and while these talks ran late into the evening, this didn’t stop everyone from turning up bright-eyed and ready to work on the second day.



Christian Knudsen, who is a third-round candidate for the Mars One mission said, “There were so many different angles on the issues, that I'm sure we've illuminated most of the possible issues and planted the seeds for solutions to many of them.”

Nikhil Kumar Chaudhary, connecting from India via Skype, started the second day with his presentation on ‘Asgardia’s Economy and Finance’. Participants of the Forum actively discussed the presentation and asked questions before taking part in a lively discussion after the presentation concluded.

The afternoon session of the Forum was opened by Acting Head of Government, Ms. Ana Mercedes Diaz who gave an enthusiastic, speech to the participants where she expressed how glad she was to be a part of the event, and how excited she was to see Asgardia’s economy taking shape.



Commenting on the formation of Asgardia’s economy Acting Head of Government, Ms Ana Mercedes Diaz said, “We are in good hands. The human resource is our best capital.”

After, The Head of the European Astronauts Centre, ESA Astronaut from Belgium Frank De Winne, who was first European to command the ISS, gave an interesting talk on the current working conditions of people in Low Earth Orbit and the associated public and private investments.

Chairman of Parliament, Mr. Lembit Opik gave a short address saying, “We are waiting for your economic conclusions and we will ensure execution by the Parliament. I propose that over the next two months, Committees and Members of Parliament will discuss the conclusions outlined by the Memorandum, and, at the next digital meeting in January, put it to a ‘yes-no’ vote.”



The day culminated in an interactive session, where the Forum’s Participants were able to address their ideas, suggestions and ask questions to the Head of Nation, Dr. Igor Ashurbeyli who took the time to give detailed responses to each issue raised.

Acting Head of Government Ana Mercedes Diaz commented that the question and answer round served to, “strengthen the relationship among the Parliament Members, Administration, and Government Officials”.



The final task for select members of the Forum, including economic experts, was to take all the conclusions from the debates, presentations and discussions and synthesize them into the final set of findings and produce the Forum’s Memorandum.

Based on the results of the First Economic Forum, the following is planned:

1. Adoption of the Forum’s Memorandum.

2. Publication of the reports and presentations of the Forum participants as a supplement to ROOM: A Space Journal, and on Asgardia’s website.

3. Asgardia’s presentation at the World Economic Forum in Davos in January 2019.

4. Development of draft legislation on the national currencies of Asgardia for introduction to the Parliament of Asgardia.

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Head of the Nation Opens Economic Forum in France

The First Economic Forum of Asgardia launched today in Nice. The Forum is devoted to generating ideas and solutions to help develop a financial system for the First Space Nation. Head of the Nation, Igor Ashurbeyli, opened the forum with a speech that outlined his personal vision and hopes for an economic model built on two main pillars that will put the people first.


Head of the Nation's Opening Speech



Hello !

First of all, I’d like to thank you for finding the opportunity to travel here from different countries to participate in today’s event.

This is the First Economic Forum in the history of Asgardia.

The following categories of participants are present:

1.  The speakers – those who presented their concepts of the economic system of Asgardia and its currency, and have passed the according selection
2. Experts, whom we invited to provide analysis of the concepts presented.
3.  Special guests.
4.  Members of my Administration

Now I would like to briefly go over the main postulates of my personal macro-vision of the economic system of Asgardia as a whole, and its currency in particular. Not as a professional economist, but as a visionary and the Head of Nation.

Obviously, while preparing your presentations, you, the speakers, were not aware of this,  and now  it’s too late to change anything in your presentations. But maybe it’s for the best, since you had the full freedom to be creative. And we won’t make any final decisions based on the outcome of this Forum. We have a long journey, and this is not our last economic forum.

Now, an economy is the basis for the Nation’s power. That s a banality .

An economy has an ideological and a financial component.

The ideological component of Asgardia’s economy is based on two pillars.

The first: In today’s world, the right of money ownership belongs to governments, and citizens are hostages of unsecured fiat and digital currencies. In Asgardia, citizens must become owners of the monetary system. The government is simply a middleman, broker and guarantor of monetary transactions.

The second: In no earthly nation are the citizens the recipients of the government budget surplus. But they always bear the brunt of the deficit. In Asgardia, every citizen must be a participant in the distribution of the Nation’s profit.

The financial component of Asgardia’s economy is based upon its two national currencies.

First, the Solar. A solar currency. The sun shines for all on Earth. That is why the Solar must become a universal payment currency converted on the exchanges into not just hard currencies that exist in earthly nations, but also into legitimate cryptocurrencies.

Second, the Lunar. A lunar, exclusive currency. Just for the citizens of Asgardia, 2% of the Earth’s population. The Lunar is an internal financial and monetary asset that confirms the citizenship of Asgardia. As any asset, it is subject to exchanges, sales, loans, gifting, inheritance and more. It is also listed on the exchanges .

I will purposely not say more because, in the framework of this very general strategy, it is important to me to give all Asgardians an opportunity for co-creation in the development of the economic system of Asgardia.

Based on the results of the first economic forum, the following is planned:

1. Adoption of the Forum’s Memorandum.

2. Publication of the reports and presentations of the forum participants as a supplement to ROOM: A Space Journal and on Asgardia’s website.

3. Asgardia’s presentation at the World Economic Forum in Davos in January 2019.

4. Development of draft legislation on the national currencies of Asgardia for introduction to the Parliament of Asgardia.

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Economic Forum

Asgardia’s First Economic Forum Begins

On the 26th of October, in the beautiful city of Nice, Asgardia’s First Economic Forum began. The venue for the Forum is a stark contrast between the historic decor of the building and the modern technology employed to deliver presentations and live translations.

Head of Nation, Dr. Igor Ashurbeyli opened the Forum with a speech that outlined his personal vision and hopes for an economic model that will put people first.

“In the modern earthly world, the ownership of money belongs to states, and citizens are only hostages of unsecured fiat or digital money. In Asgardia, citizens should become owners of the monetary system.” Head of Nation Dr. Igor Ashurbeyli explained.

The Head of Administration to the Head of Nation, Dr. Mikhail Spokoyny , followed on from the speech by outlining the journey of Asgardia’s humble beginnings through to its second anniversary where the Nation now has almost 300,000 residents and over a million followers before concluding: “And now we are starting to work on the creation of an economic system.”

The key focus of the day was on the presentation of economic models and ideas generated by some economic-minded Asgardians who shared their ideas for a new economic system. These Asgardians include Chairman of the Trade and Commerce Committee, Berk Dalver and several winners of Asgardia’s economy concept contest:

- Alexander Sautin , Russia, "Asgardia’s Payment System: Technical Request Explanation, Asgardia’s Economic model";

- Berk Dalver, Turkey, "Financial Ecosystem of the First Space Nation";

- Stephane Caiveau , USA, "Asgardia’s Economic & Business Model";

- Alex Goetz, Austria , " Asgardia’s Economic System, Technological Advancements";

- Christian Ohlendorff , Denmark , " Liquid SOL";

- Daniel Brookes , United Kingdom, "Economy and Finance System of Asgardia".

In addition to the presenters there was also analysis from some well-respected economic experts such as Leon Shpilsky, CEO of Asgardia AG and Former Head of Corporate Development at Oxford Sciences Innovation and Dr. Inna Pomorina from Bath Spa University.

Following each presentation, the Forum had a spirited and lively working atmosphere with the attendees engaging in debates and discussions where they shared experiences and structured arguments on the ideas and concepts outlined in the presentation.

The day rounded off with some final words from Head of Nation, Dr. Igor Ashurbeyli who strongly reaffirmed the vision of Asgardia a full and independent Nation in the making saying: “Asgardia is a Nation. And when we talk about it, this is the context we must use. It is a Government that has its own currency, the Solar.”

“In any economy, currency is backed by goods and services produced by the government, which is why, a greater volume of goods and services produced by Asgardia, will automatically result in a higher the demand for the Solar.” Outlining Asgardia’s unique current status as a decentralised digital Nation, Head of Nation Dr. Igor Ashurbeyli added: “Asgardia is a digital Nation, and therefore the goods and services it can offer are, first of all, digital.”

The Forum will run until the 28th of October with an aim of generating credible solutions to the development of Asgardia’s National Bank, its currency; fiscal policies, corporate taxation, the implementation of a citizenship fee; insurance; and wealth creation.

Based on the results of the First Economic Forum, the following is planned:

1. Adoption of the Forum’s Memorandum.

2. Publication of the reports and presentations of the Forum participants as a supplement to ROOM: A Space Journal and on Asgardia’s website.

3. Asgardia’s presentation at the World Economic Forum in Davos in January 2019.

4. Development of draft legislation on the national currencies of Asgardia for introduction to the Parliament of Asgardia.

Speakers

Berk Dalver Turkey

Christian Ohlendorf Knudsen Denmark

Dan Brookes UK

Alex Sautin Russia

Alex Goetz Austria

Nikhil Kumar Chaudhary India

Stephane Caiveau USA

Experts

Rostyslav Futalo Austria
Co-founder and CEO of BHander – crypto-fiat payment solution and multicurrency wireless hardware wallet. Board Member, Intecracy Group

Leon Shpilsky USA/UK
CEO, Asgardia AG. Formerly Principle – Head of Corporate Development at Oxford Sciences Innovation Ltd.

Raj Rakumar India
Manager – Product Governance at Lloyds Banking Group, London

Igor Matuhin Russia
Member of the Presidium of the Council on digital economy and innovative technology at Eurasian Economic Cooperation Organization, Director of the cryptocurrency and blockchain Committee at National Investment Association

Vladimir Gromkovsky Russia/Netherlands
Investor, Economist, and Founder of Finematika and Waarde Capital

Inna Pomorina UK
Senior Fellow and Senior Lecturer of Economics and Globalisation at Bath Spa University

Alexander Ryzhy USA
Accountant and Text Advisor; Founder and owner of ALBORY

Alex Bozhko USA
Co-author of Alex Sautin; Investment Banker and Director of private investment fund

Asgardia Press Office

Anna Grigg Marketing Director +7 903 154-23-35 annagrigg@asgardia.space

Ross Cheeseright PR and Media Specialist +44 7748 067 808 ross.cheeseright@asgardia.space

Yasmin Perez Press and Media Officer +44 (0) 7795 401 027 yperez@maitland.co.uk

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