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I like the idea of being able to reliably track how money was earned or used at the time that it is being offered as payment. However, it seems (to me, at least
by siosonel 11y ago
I like the idea of being able to reliably track how money was earned or used at the time that it is being offered as payment. However, it seems (to me, at least) that there is no practical way to do this for physical currency notes, for various reasons.
Fortunately, for digital currency there are easier ways to implement such tracking ideas. One approach is for a team to use its planned budgets directly as digital currency. When two teams transact, corresponding amounts of expense and revenue budgets get cancelled, so there is no transfer of currency between teams. Thus, each payment offer is always traceable to the reputation of the team who issued the currency (as budgets).
Illustrated explanations, more details, and a working prototype is available at: https://tatag.cc/ui/ https://tatag.cc/ui/. (Disclaimer: I'm the developer of the linked site.)
- amelius 11y agoBut how do you prevent teams from creating an endless amount of currency?
- siosonel 11y agoDo not accept payments from teams who have budget balances that are way beyond typical. The Tatag platform provides accurate and current summary statistics about the paying team, so a reputation engine could factor those metrics to evaluate the concerns that are important to a payment recipient. As an aside, traditional systems do not prevent similar situations from happening. You have ultra-wealthy people that are each effectively holding an endless supply of money. Should we not be asking that same question whenever and wherever we see it happen today?