A 'humane, socio-enviro-economic' protocol!

lunchtimelunchtime VancouverMember Posts: 11
I'm just going to paste a comment of mine here, and infer from it what you can. It should illustrate the idea behind the title of this thread well enough that I don't have to reiterate over anything. If you like the idea, let's get together and see if we can mock up the basis of this kind of thing! Let's bring ideas, reputation, crowdsourced funding, transparent government, contractors, and the environment together once and for all!!

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[...] a system that you can opt-in to that limits your contribution to inhumane transactions and benefits humane transactions is something I would love to see! Let's say an organisation is glorified for it's work in building capital and funding projects that bring people's standard of living up a level. I would gladly dedicate more of my network contribution to their cause, given they're dealing with well-reputed accounts! It supports positive growth and stunts negative cancers.

Imagine a protocol you can enable on your miners, where you pick what kind of industries, philanthropies, ethical standings that align with you, and you generate coins for yourself, and for those industries, and are in turn rewarded for that industry's growth! A kind of profit-sharing-support system, with built in reputations! We could have a hub, a website, where companies, individuals, etc, apply to be a part of the protocol, present their goals, ambitions, and profit-sharing model. People can then vote them up or down, engage in conversation, and have them approved into the protocol's benefits. It'd be a mashup hybrid of crowdsourced funding, reddit-style approval / disapproval, futures investments, and I dare say even governance!

We could generate coin for causes we believe in alongside our own personal generation. By contributing a % to a pool, you would also become a 'shareholder' in that pool's use later down the road. So let's say I wanted to aid in the Solar Industry. I would contribute some hashing power to that specific pool, and when it gets used as capital for a project, I become part of a profit-sharing contract automatically based on my contribution of the capital. Of course, what projects go forward would be decided upon by people, investors, contractors and government alike. Fully transparent.

The applications are simply astounding. Governance. I'm from BC, Canada, Vancouver Area, and I just got the biggest nerd-boner from this train of thought. Imagine the government decides to ask it's people what they should spend their civil budget on this year. Someone comes up with a great presentation of a vertical farm, skyscraper aquaponics. People can pledge their computational power to the generation of coin for the project, investors can establish their contributions, and the project gains enough attention and potential that the City then assigns their resources to it. Miners contribute to a project pool, gaining coin for themselves and the project, and are rewarded continuously as the project moves forward and comes to fruition. The investors, now shareholders in the project, can take their % profits for a successful civil project, and have their reputations increased for engaging in a transaction that the government sponsored. Goodness perpetuates. If a second stage of development is proposed, money from the miner's pool can be used as venture capital. A partially funded second stage will re attract investors and contractors who want reputation in evolving a previously profitable development.

Profit, would essentially become redefined. It wouldn't be about what has the highest ROI. It'd be about what developments benefit the people the most, working together with the most reputable benefactors. Ecological impacts could be defined as a parameter of profit calculations directly. This encourages green developments, renewables energies, and technologies that bring health to the ecosystem, and therefore the economy. Something that is traditionally profitable - let's say a giant tar sands expansion - wouldn't gain much ground due to bad reputations, and the people not dedicating hashing power to capital generation because of the environmental impact.

Likewise, let's say a project goes through but in the end of it all, it causes pollution, some contractor ran away with some of the money, and shady people with low reputation were a part of it. All involved would have their reputation docked, and less hashing power would be driven at their transactions by those who are part of the protocol. They would either have to shape up and rebuild their reputation, or remove their accounts from this type of social-enviro-economical system, missing out on the crowdsourced funding and community of it all. It forces those with malicious intent to change their ways when it comes to currency. In retrospect, others could be part of a sub-group of the protocol that act as reputation cleaners. Contractors that clean up messes left behind by the incapable. They would gain positive reputation by restoring the ecological damage, and salvaging wasted materials. In turn, because they are part of the 'clean-up' sub-protocol, the nodes that have lost their reputation by failing to deliver can gain a little boost by being involved in this new transaction with the clean up crew. The clean up contractors would gain immunity from having their reputation dropped from interacting with groups of low reputation since they are doing them and everyone a positive service.

I love thinking about the applications of Ethereum. It opens the whole world up to something amazing. In our current monetary system, some AMAZING things have been squandered because those in control with the big money can just stomp it out. With a system like this, if something looks good and has great potential, it is up to the people to approve of it and attract investors and the like to bring everything to fruition. Now, the wants of a few will never outweigh the needs of the many.

Comments

  • StephanTualStephanTual London, EnglandMember, Moderator Posts: 1,282 mod
    Actually it's even better than that. On Ethereum all contracts -including the meta coins - are leveraging the same chain, which itself is mined as a whole by the network. So technically meta-coins on Ethereum aren't 'mined' - they are issued arbitrarily by the contracts based on a set of rules that the contract developer has defined.

    Developers can therefore focus all their project thoughtpower towards interesting and novel issuance models. Take your solar power example: instead of 'mining for' solar energy and then make some rough parallels with actual MW outputs (like solarcoin does today), you could issue the meta coins by measuring - at the source - how many MW were actually generated from the panels. 1:1 accuracy.
  • lunchtimelunchtime VancouverMember Posts: 11
    Hmmmmmm, so meta coins could be generated by all solar projects that are designed this way, and contribute to perpetuating more renewables, and as more projects pop up, there's more wealth available for the project collaborators to use!

    You could use the same idea for people in import/export. Every time a certain value's worth of resources are exported, coins are 'minted' for that industry as a whole. Very cool implementations are afoot!
  • jskyjsky Member Posts: 8
    edited July 2014
    just to be a devils advocate. it would be very hard to prove one extracted solar energy. there would need to be a third party checking (probably manufacturer compliance to a tracking standard). even with this compliance, people could tamper with their system to fake work. electrons are agnostic.
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