The Silicon Review
“With the motto ‘people, planet, profit’, we combine investment with social and ecological values and deliver a positive triple bottom line.”
Neco Finance is a cryptocurrency firm with a philanthropic and environmentalist twist. The company provides unconditional universal basic income, meaning people can apply to receive money on a monthly basis, freeing them from poverty so they can pursue their visions. Also, Neco offsets its members' carbon footprints by investing into afforestation projects, allowing members to be climate-neutral, which serves the company's primary objective—to create a better future for all living beings on Earth.
Neco Finance was founded in 2017 and is headquartered in Irschenberg, Bavaria.
Flo Goette (Chairman) Spoke Exclusively to The Silicon Review. Below is an Excerpt
Q. Tell us what inspired the creation of Neco Finance.
The idea for Neco came to me while I ventured deep into the Amazon rainforest. I was struck by the vision of a world where people lived in peace and abundance, and the environment was healthy and thriving. We live in a world of abundance – we have enough food for everyone, enough medicine to cure diseases, and all the technology to live sustainably, but it is the financial resources that are missing. Eventually, these realizations led to Neco and my vision of a future of financial freedom for all as well as a thriving planet.
Overcoming humanity's greatest challenges, such as poverty, diseases, and climate change requires a transformation of the economy and the financial system at the root level – we need a new financial system that serves the people and the planet, and Neco was born to suffice this particular purpose.
Q. 'Neco is the currency for the common good.' Splendid. Would you like to elaborate on this a bit more?
The purpose of Neco is to serve the people and the planet. For our members, we generate profits, provide universal basic income and protect the climate. With the motto "people, planet, profit", we combine investment with social and ecological values and deliver a positive triple bottom line. Neco is positive money without debt, interest, and transaction fees. Also, Neco is a free global currency without interest and transaction fees. With Neco, sending money is as simple as sending an email. Neco provides instant global payments without any intermediaries. Our organization is set up as a cooperative non-profit dedicated to serve the common good.
Q. How does the company generate profits and provide a universal basic income for its members?
In our quarterly Neco regulation, our members collectively decide how to distribute our earnings across the budgets for people, planet, and profit. The budget for the people is used to pay monthly basic income (UBI) to our members. From the budget for the planet, we finance projects for afforestation and regenerative agriculture. And the profit budget increases the price of the Neco token, generating profits for our members.
Q. Please help us understand how Neco plans to build a financial system that helps the people and the planet.
Imagine Neco as a collective "central bank" that creates money by minting Neco tokens and giving these tokens to the people and the planet. We serve the people by generating profits and providing universal basic income. We serve the planet by offsetting the carbon footprint of our community. Our sustainable financial system, the Necosystem, is regulated collectively by all members where every member has a vote. Our decisions must comply with our seven core values enshrined in the Neco Constitution: equality, sustainability, diversity, sufficiency, solidarity, transparency, and stability.
Q. In what industries are your clients? Can you provide us with one or two success stories describing the challenges your clients faced and how your solutions helped them overcome those challenges?
At this point, our main target group is the LOHAS (lifestyles of health and sustainability), but we believe that Neco will become a leading global currency used in most industries and countries.
Due to the current economic crisis, many of our members experience financial difficulties. With our UBI program, they receive a monthly basic income that helps them pay their bills. Other members have chosen Neco as a stable and sustainable form of investment.
Q. Will Neco be expanding, bringing on any new products or services that we should be aware of?
Yes, we expect strong growth from our initial coin offer, the Neco ICO, in 2022. But we have two other exciting products in the pipeline—Stackchain and Collexa. Stackchain is a crypto platform for decentralization and tokenization, which is faster, more efficient, and secure than Blockchain. Collexa is a system of collective intelligence that enables intelligent and democratic decision-making and answers complex questions intuitively. Through our three ICOs for Neco, Stackchain, and Collexa, we expect to accelerate our growth exponentially and become one of the leading cryptocurrencies.
Q. Where do you stand as a company in the current market landscape? And what are you doing to stay ahead of the curve?
We have successfully completed our prototype with about 500 users in over 40 countries and are now developing the Stackchain platform and the Neco app in preparation for the Neco ICO. Since its launch, the Neco price has steadily increased quarter by quarter by about 50 percent without ever losing value, making the Neco significantly more stable and less volatile than other cryptocurrencies. Our vision to build a sustainable financial system goes far beyond being just another cryptocurrency. With Stackchain, we use a climate-neutral technology that has the potential to become the "Blockchain 2.0". And with Collexa, we are entering into the largely unexplored market of collective intelligence.
Last but not least, the Neco and the Necosystem are operated by the Neocracy, a decentralized collective organization without hierarchies where authority is distributed across the entire organization. This form of organization allows our members to participate collectively in the decision-making process. Structured in self-organizing circles and roles, our organization is able to grow much faster than traditional organizations and react quickly to external changes.
Q. What plans for transformation are you pursuing to remain relevant now and in the future?
Our vision is to build the financial system of the future and transform our current linear economic system into a circular economy that minimizes resource consumption and recycles its waste. Our current system is based on the absurd idea of unlimited growth. Neco wants to support the transition into a post-growth economy. Instead of gross domestic product (GDP), we measure our community's happiness as an indicator of prosperity.
The Magnanimous Leader Upfront
Flo Goette is the Founder and Chairman of Neco Finance. He is a serial entrepreneur, investor, and visionary with a track history of four successful startups, a $10 million acquisition, and his latest brainchild, "Neco," a cryptocurrency that seeks to become the next financial system. Flo began as a software developer at the age of 18 and started his career as a serial entrepreneur at age 27. He is an expert in Blockchain, cryptocurrencies, and cloud computing. He has been featured in "The Top 100 People in Finance" (Top 100 Magazine) and "The 10 Most Inspiring Entrepreneurs of the Year 2021" (The CIO Times).
In addition to building his projects with an eye on sustainability and social good, Flo has also worked on a documentary on sharks, his favorite animal, during his travels. In his leisure time he loves paragliding, kiteboarding, diving, sailing, mountaineering, yoga, and meditation.