Maybe if you have some time I could walk you through what we’ve developed for eosDAC so far. We’re creating a worker proposal system managed by elected custodians and includes an escrow account, arbitrator per WP, and a review process to ensure work is paid only when there is agreement it was completed as speced.
I really do like the idea of using SBD, but I’d want to also fix the peg. Maybe create some automated way to convert in both directions for users who opt in (i.e. funnel some payouts, if configured per account, into a conversion either to or from SBD when someone claims their rewards to keep the peg working as it should).
I also echo comments here about using some of the rewards pool instead of further diluting investors with an increased rate of token creation via SBD. Have we found the sweet spot for posting and curration rewards to increase everyone’s value? Would taking some of that funding and put it toward projects help us all? Maybe.
All these details could get worked out, and we have a number of projects to look to for ideas (Dash, SnartCash, BitShares, etc). One thing we may need to figure out is the joint and several liability for the Steem community if someone sues people involved or some governments get upset about employment law stuff. We’ve spent months working through these complexities with our lawyers for eosDAC. Would be happy to chat about it sometime if you want.
Thanks for looking into this.
Getting the price of Steem past $1 shouldn't be to hard. I offered @ned to help raise the price of Steem to around $3. He never took me up on my offer. I will offer again once the Alliance is up and running.
What would your strategy be to get STEEM to $1 and $3?
I will offer up a proposal to the Alliance once they get up and running.
@lukestokes
The worker proposal contract is still being designed, but the idea is when a WP is submitted to the custodians for approval, it includes an EOS account name as the arbitrator. Custodians will factor that in to their decision to approve or not (is that person an expert in the subject matter, are they trusted by the community, etc). By default the arbitrator would just be the custodian board, but that gives them two seats and the two of three mutisig escrow contract. The point of the arbitrator is to ensure the DAC and service entity avoid legal drama if someone feels they should get paid as promised but a new custodian board is elected and refuses to pay.
Thank you for the reply. The arbitration role is very important and in bidding portals etc where escrow feature is currently used the release often ends up in disputes.
The governance and voting based on the Blockchain technology sounds like an important application of the technology. Ie as important as disruptive as the currency use case.