I think a lot of people have noticed the increasing complexity of budget proposals in this past month. With 6 proposals still up for grabs for this cycle, I thought I'd put out an overview and as best as I can understand, potential rewards for Dash or reasons for Dash to fund these proposals. Remember, these are my personal viewpoints – mostly toward the positive, and I'm highly risk oriented. Still, we seem to have enough in our budget to cover all these projects and I hope you will give each project the attention they deserve. So from oldest to newest, here we go!
Proof of Labor
Wow, is this one ambitious! In the most basic breakdown I can manage, it is a proposal for research and development into an economy based on community credit. Credit comes into being when a community approves via a rating system. A producer of some sort, say the local baker, takes out a loan from his credit line to purchases supplies with the “coins” he receives in his loan. The community is given a product in return (bread) for the coins they approved to being loaned, and when they purchase the bread (for coin), the credit the Baker owes is paid back and the baker increases his rating. Thus the system allows him more credit to expand his work.
The main points are that somehow the community “votes” via reputation, that reputation gives the producer a credit line, the community pays for what is produced and the producer pays back the credit, keeps the excess debit and receives a better reputation for doing so, thus increasing his credit limit.
This system literally puts value into tokens through work, naturally expanding the economy. It's very much in line with Ayn Rand's view of the value of money.
Why Dash?
Dash has the infrastructure to make this token act just like cash (secure instant transactions) which this system would hope to eventually tap into (if the research and development prove successful) The Evolution rating system would also be utilized.
I believe the system will want to use Dash to back these tokens, via pegging possibly? It's not known yet, but these tokens might need a base value, and pegging to the dollar with Dash backing might be a solution I believe? None of the solutions they come up with will be part of the Dash ecosystem unless it's advantageous to Dash and gets approval, so this is mostly a research and development project to see what the possibilities are.
How would this be benificial to Dash?
There are a lot of possible benefits for Dash:
1. spread adoption
2. when the number of tokens (which are pegged to something for stability) increases, the value of the backing token (Dash) should also increase in value against the pegged unit (like the Euro, Pound Sterling, Dollar, etc...) Because more tokens would be created as well as more demand, thus more pressure on Dash.
3. it would offer price stability in a unit that is directly related to Dash.
4. Masternode owners and miners would run both blockchains and earn fees from each.
Finally, will this work? I don't know, but it certainly would fill a niche that is missing in crypto-currency. Sure there are are other pegged solutions (that in theory work) like Nushares/Nubits and Bitshares/pegged coins. However the first isn't fast, and the second has issues in my eyes of a “good old boy network” that I can't reconcile. With Masternodes, there are thousands of them, and they're available to anyone who invests, but with Bitshares, you have to be “voted in” and they plan on only 101 “witness nodes” that get paid. I can't get over the feeling of a good old boy network that is easily corrupted. This proposal might be something that can make the Dash Financial Network complete if it works. And remember, this is a proposal for research and development much of which the propoers have already worked out over the past 4 years.
Dash to Fiat Payment Processor
Well, we have here a very interesting young man and his brother, a verified long time community member and financial administrator of the funding for SpaceX hyperloop project finalists, the rloop team and running the indigogo campaign to raise the funds for construction of a prototype.
They want to create a merchant only Dash exchange for fiat. It's simple really, they will take Dash exclusively from merchants who accept it, exchange it for fiat and then deposit it into the merchant's bank accounts. Simple, right? Well, maybe, maybe not. But they have a plan to stay on the easier side of regulations by utilizing licensed exchanges and only servicing businesses which simplifies KYC issues, and by opening bank accounts in other countries so as to provide USD and Euro support as well as their native NZ dollar and AU dollar. Can this be done? Well, there will probably be issues they'll face, but if luck runs their way, they may have enough momentum to resolve all issues in the future, and actually make a go of it. It was such momentum that coinbase began with that earned them financing to build up to where they are today. And they also began on much shakier ground.
Why?
To get adoption going, it's pretty obvious that we need a service that will convert Dash to fiat for merchants to accept it. It's really places like Coinbase that became the footholds to Bitcoin adoption. Without something similar, Dash will find adoption extremely difficult. This is one major infrastructure that must be built. Who will build it? Until now, no one has come forward, and contacts with the likes of Coinbase has shown no intention of adding another crypto coin, so if a young programmer can have the gaul and chutzpa to create a new monetary system (Evan), why can't two brothers create a crypto coin processing service?
Still, there are likely to be some setbacks. Banks may close accounts when they realize what the boys are doing, but that may take them some time to notice, and in the mean time, maybe the boys can come up with ways of making things more permanent, perhaps, show this can work and bring in some big investors. Who knows, but one things for sure, they're winners as far as what they've helped accomplish with SpaceX's hyperloop competition. I wouldn't put this task past their abilities myself. Though, I'm an eternal optimist.
Dash World: Evolution in Marketing
Greyghost and team have come up with a complete marketing plan for Dash. Really, it requires integration with the core team, and it will be the Master Plan for Dash Marketing. It includes everything, with the exception of funding for certain projects which would require separate funding. It's a very thoroughly hashed out plan that I simply can not reiterates here. Issues are that it may ruffle some feathers with the core team, but the proposers promise that their intention is to work with the core team, and to be flexible. If voted in, of course, that would give the core team the mandate to work with this group.
Why?
This is a group of long time Dash supporters who have experience in marketing. They have chosen what they believe is a better PR firm than the one we dropped (Transform PR) to work with. The use of the PR marketing firm will be supplemental to the work done by the proposal team who will be doing a lot of the PR work themselves. There is a ton of information on this proposal and I implore all of you to read it and to vote on it. In my opinion, it is not at all too soon to market Dash. Dash today is the most capable crypto-currency available. Adoption will come with name and product recognition, and we have hit the point where we are falling behind in this aspect of the Dash project. We can no longer hang off the Bitcoin shirt tails, we must now separate ourselves and become well known on ouru own – seperate from Bitcoin. Is this the team to take us to the next level? Well, look at the effort put into their proposal, and judge.
This essentially brings us an in-house Marketing Team, that will work closely with the Core Development team to bring Dash's name to the world. Lets do it!
Proof of Labor
Wow, is this one ambitious! In the most basic breakdown I can manage, it is a proposal for research and development into an economy based on community credit. Credit comes into being when a community approves via a rating system. A producer of some sort, say the local baker, takes out a loan from his credit line to purchases supplies with the “coins” he receives in his loan. The community is given a product in return (bread) for the coins they approved to being loaned, and when they purchase the bread (for coin), the credit the Baker owes is paid back and the baker increases his rating. Thus the system allows him more credit to expand his work.
The main points are that somehow the community “votes” via reputation, that reputation gives the producer a credit line, the community pays for what is produced and the producer pays back the credit, keeps the excess debit and receives a better reputation for doing so, thus increasing his credit limit.
This system literally puts value into tokens through work, naturally expanding the economy. It's very much in line with Ayn Rand's view of the value of money.
Why Dash?
Dash has the infrastructure to make this token act just like cash (secure instant transactions) which this system would hope to eventually tap into (if the research and development prove successful) The Evolution rating system would also be utilized.
I believe the system will want to use Dash to back these tokens, via pegging possibly? It's not known yet, but these tokens might need a base value, and pegging to the dollar with Dash backing might be a solution I believe? None of the solutions they come up with will be part of the Dash ecosystem unless it's advantageous to Dash and gets approval, so this is mostly a research and development project to see what the possibilities are.
How would this be benificial to Dash?
There are a lot of possible benefits for Dash:
1. spread adoption
2. when the number of tokens (which are pegged to something for stability) increases, the value of the backing token (Dash) should also increase in value against the pegged unit (like the Euro, Pound Sterling, Dollar, etc...) Because more tokens would be created as well as more demand, thus more pressure on Dash.
3. it would offer price stability in a unit that is directly related to Dash.
4. Masternode owners and miners would run both blockchains and earn fees from each.
Finally, will this work? I don't know, but it certainly would fill a niche that is missing in crypto-currency. Sure there are are other pegged solutions (that in theory work) like Nushares/Nubits and Bitshares/pegged coins. However the first isn't fast, and the second has issues in my eyes of a “good old boy network” that I can't reconcile. With Masternodes, there are thousands of them, and they're available to anyone who invests, but with Bitshares, you have to be “voted in” and they plan on only 101 “witness nodes” that get paid. I can't get over the feeling of a good old boy network that is easily corrupted. This proposal might be something that can make the Dash Financial Network complete if it works. And remember, this is a proposal for research and development much of which the propoers have already worked out over the past 4 years.
Dash to Fiat Payment Processor
Well, we have here a very interesting young man and his brother, a verified long time community member and financial administrator of the funding for SpaceX hyperloop project finalists, the rloop team and running the indigogo campaign to raise the funds for construction of a prototype.
They want to create a merchant only Dash exchange for fiat. It's simple really, they will take Dash exclusively from merchants who accept it, exchange it for fiat and then deposit it into the merchant's bank accounts. Simple, right? Well, maybe, maybe not. But they have a plan to stay on the easier side of regulations by utilizing licensed exchanges and only servicing businesses which simplifies KYC issues, and by opening bank accounts in other countries so as to provide USD and Euro support as well as their native NZ dollar and AU dollar. Can this be done? Well, there will probably be issues they'll face, but if luck runs their way, they may have enough momentum to resolve all issues in the future, and actually make a go of it. It was such momentum that coinbase began with that earned them financing to build up to where they are today. And they also began on much shakier ground.
Why?
To get adoption going, it's pretty obvious that we need a service that will convert Dash to fiat for merchants to accept it. It's really places like Coinbase that became the footholds to Bitcoin adoption. Without something similar, Dash will find adoption extremely difficult. This is one major infrastructure that must be built. Who will build it? Until now, no one has come forward, and contacts with the likes of Coinbase has shown no intention of adding another crypto coin, so if a young programmer can have the gaul and chutzpa to create a new monetary system (Evan), why can't two brothers create a crypto coin processing service?
Still, there are likely to be some setbacks. Banks may close accounts when they realize what the boys are doing, but that may take them some time to notice, and in the mean time, maybe the boys can come up with ways of making things more permanent, perhaps, show this can work and bring in some big investors. Who knows, but one things for sure, they're winners as far as what they've helped accomplish with SpaceX's hyperloop competition. I wouldn't put this task past their abilities myself. Though, I'm an eternal optimist.
Dash World: Evolution in Marketing
Greyghost and team have come up with a complete marketing plan for Dash. Really, it requires integration with the core team, and it will be the Master Plan for Dash Marketing. It includes everything, with the exception of funding for certain projects which would require separate funding. It's a very thoroughly hashed out plan that I simply can not reiterates here. Issues are that it may ruffle some feathers with the core team, but the proposers promise that their intention is to work with the core team, and to be flexible. If voted in, of course, that would give the core team the mandate to work with this group.
Why?
This is a group of long time Dash supporters who have experience in marketing. They have chosen what they believe is a better PR firm than the one we dropped (Transform PR) to work with. The use of the PR marketing firm will be supplemental to the work done by the proposal team who will be doing a lot of the PR work themselves. There is a ton of information on this proposal and I implore all of you to read it and to vote on it. In my opinion, it is not at all too soon to market Dash. Dash today is the most capable crypto-currency available. Adoption will come with name and product recognition, and we have hit the point where we are falling behind in this aspect of the Dash project. We can no longer hang off the Bitcoin shirt tails, we must now separate ourselves and become well known on ouru own – seperate from Bitcoin. Is this the team to take us to the next level? Well, look at the effort put into their proposal, and judge.
This essentially brings us an in-house Marketing Team, that will work closely with the Core Development team to bring Dash's name to the world. Lets do it!
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