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> ConTracked: A proposed replacement for government contracting. For example, the state might issue a billion ConTracked tokens which have a base value of zero

> ConTracked: A proposed replacement for government contracting. For example, the state might issue a billion ConTracked tokens which have a base value of zero unless a decentralized court agrees that a bridge meeting certain specifications has been built over a certain river, in which case their value goes to $1 each. The state auctions its tokens to the highest bidder, presumably a bridge-building company. If the company builds the bridge, their tokens are worth $1 billion and they probably make a nice profit; if not, they might resell the tokens (at a heavily discounted price) to some other bridge-building company. If nobody builds the bridge, the government makes a tidy profit off the token sale and tries again. The goal is that instead of the government having to decide on a contractor (and probably get ripped off), it can let the market decide and put the risk entirely on the buyer. This seems like a good idea. The government could prevent shorting government-issued tokens.

yownie 6y ago
I'm glad that I wasn't the only one who thought so too, even though it was meant to be a bunch of joke alt-coin ideas. I guess the only criticism could be, won't you end up with a bunch of half-built bridges eventually? *oops* hadn't realized it was by the same author!
alentist 6y ago
Reminds me of a concept called dominant assurance contracts. https://en.wikipedia.org/wiki/Assurance_contract#Dominant_assurance_contracts https://en.wikipedia.org/wiki/Assurance_contract#Dominant_as... https://link.springer.com/article/10.1023%2FA%3A1004957109535 https://link.springer.com/article/10.1023%2FA%3A100495710953... > Many types of public goods can be produced privately by profit seeking entrepreneurs using a modified form of assurance contract, called a dominant assurance contract. I model the dominant assurance contract as a game and show that the pure strategy equilibrium has agents contributing to the public good as a dominant strategy.

yownie 6y ago

I'm glad that I wasn't the only one who thought so too, even though it was meant to be a bunch of joke alt-coin ideas. I guess the only criticism could be, won't you end up with a bunch of half-built bridges eventually? *oops* hadn't realized it was by the same author!

alentist 6y ago

Reminds me of a concept called dominant assurance contracts. https://en.wikipedia.org/wiki/Assurance_contract#Dominant_assurance_contracts https://en.wikipedia.org/wiki/Assurance_contract#Dominant_as... https://link.springer.com/article/10.1023%2FA%3A1004957109535 https://link.springer.com/article/10.1023%2FA%3A100495710953... > Many types of public goods can be produced privately by profit seeking entrepreneurs using a modified form of assurance contract, called a dominant assurance contract. I model the dominant assurance contract as a game and show that the pure strategy equilibrium has agents contributing to the public good as a dominant strategy.