How does the worker proposal system protect us from contracts that are not completed on time, or it does satisfy what we thought we were getting?
Also I do not understand how payment is defined. In $USD paid out daily by creating as much SBD as required, adding to the debt? There is no safety to reconsider payment form if SBD has a cataclysmic price drop?
I really like this idea of worker proposals. Just trying to understand how costly or risky it might be.
Workers are paid on a somewhat continuous basis, so if stakeholders are unhappy with their progress, they can unvote the proposal. It's very similar to paying someone on an hourly basis for work, then stopping future payments if you don't like the work they are doing. Naturally this requires either oversight of the work or else some trust in the people doing the work.
In the case of someone you don't trust at all because they are "new", you could have the funds go to an escrow entity, that would only pay out the funds based on delivery milestones. But it's often difficult to find anyone willing to work on such terms.
Payment would be in SBD, so the value of that payment would rely on the value of SBD itself. Another worker proposal I'd like to see proposed shortly after this system is in place would be a proposal to fix the peg for SBD as has been suggested in the past.
As far as the risk goes, the least risky method would be to redirect some SBD from the current reward pool to the worker proposal fund as a number of people have proposed. In that case, no additional SBD would be created relative to what is created today.
IMO the overall pool has to in some way be fixed in STEEM as that is the only way to have it be a set portion of inflation (where ever that comes from). So the amount of SBD that could be created would be effectively capped by the amount of STEEM going to the overall system, as is the case with current reward payouts.
I guess that means that some items at the bottom of the queue may not get funded because the available (SBD) payouts are not sufficient if the STEEM price drops. In turn that could create some issues of people being willing to take on work when their funding may get cut off if the STEEM price drops. I don't think this is avoidable in a system with finite resources.