A Talk about Crypto Reward Courts

A talk in @GoodDollar Telegram channel.

Hello all, an admin (probably @tomerba) allowed me to tell here about my project Crypto Reward Courts, so I will start my talk now.

There are multiple ways to distribute income: trade (“capitalism”), charity, universal basic income, even lotteries, etc. We know very well it does not work well (yes, even if we add basic income, the injustice remains). Neither “pure trade economy” nor to spread money equally work. Need something other.

In the existing system the main way to distribute money is trade. It makes mistakes pushing some people under poverty, not rewarding enough e.g. great scientists, financing Linux project less than Windows (the same with other open source projects), etc. Need a way to correct capitalism.

The trouble with capitalism is that it does not put enough emphasis on human good such as common good. Need a way to value what is common good and distribute money accordingly. We have no algorithm that can check if a project is a common good. Need involvement of people.

So we need to decide whom to give money by voting of people.

Such a system exists, it is called charity foundations. People vote whom to give money. But we’all know charities just don’t have enough money. It is both by subjective reasons (greed of people) and more objective reasons (hard to tax the entire world).

The solutions is tremendously simple: Let a charity mint its own money in any quantities it decides to. At first, it seems this won’t work: That money is not backed by anything. But remember that both BitCoin and USD are also not backed by anything!

So, I propose to try the following experiment: Form charities that will mint their own money. Even if the money is not backed by anything, it is difficult to obtain money produced by voting of a honest committee (“court”), so that money would grow in price for the same reasons as BitCoin and DogeCoin did grow in price!

So, looks like we really have a solution to overcome most important deficiencies of the trade economy: For committees (“courts”) that will vote whom to mint to money (in any quantities the committee decides), and wait when it will grow in price like BitCoin.

So, the news: The software for this thing is ready: https://reward.portonvictor.org (it is now deployed at Ethereum chain, we should switch to a less expensive chain like Matic, Celo, or Fuse, please advice which chain to choose).

The next thing to do is to hire several judges. I think we could start the first court when we find 5 persons! Several persons already claimed the desire t become judges.

A judge can even be a well-paid position. Nothing prevents a judge to vote to mint money to himself as a reward for the service of a judge. The restriction is that if a court allocates to much to itself, it would devalue its currency and earn less not more.

So go here and claim your desire to be a judge, be it from pure goodwill or from the desire to earn money: https://reward.portonvictor.org/how-to-become-a-judge/

Choose for yourself a topic: It may be for example financing free software, rewards for inventions, compensation to victims of crime or catastrophes, or even help to poor countries, reward for climate or other environmental actions, etc.