Social Credits are a virtual (read digital) value held in your Vault balance, with an initial base value (fund value or asset value) at 1 Euro(€) = 1 Social Credit.
The value is appropriated and securitised on an Open Source Treasury, whose ownership is mathematically vested into the Planet Earth’s population, and exchange events on the Open Constitution network.
Network’s ownership rights are registered through Open Constitution license, by subscribing to an encrypted token on a public ledger.
The transaction trail of the Contributor License Contract acts as a proof of I.P ownership of the Open Constitution Network Estate, by any voluntary contributor.
The Open Constitution I.P Estate is an incremental contribution based, fractional ownership property type.
Quantification of the Property Ownership rights are earmarked for the variable limit - Population Index (in simpler words, the quality of OC license tokens is tied to the Planet’s population.
Quantification of the Property Exclusion rights are earmarked for an incremental creation basis.
In simpler words, when Contributor n+1 joins community and claims ownership rights on the I.P Estate, it influences the Open Treasury standing of n Contributors, for all contributors to be able to exercise the Property Exclusion rights.
The rights are therefore governed by Open Governance Articles of Association of the Open Constitution.
The secondary financial instrument used for accounting and intra-community transaction is a Social Credit.