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DemocracyEarth / paper

On self sovereign human identity.
http://democracy.earth
MIT License
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Pegging 1 vote to 1 hour of work #347

Closed jamesray1 closed 6 years ago

jamesray1 commented 6 years ago

screenshot from 2018-02-12 13-31-53

There are a few issues with pegging 1 vote to 1 hour of work. If you peg it to the USD, it doesn't account for differences in the minimum wage between countries. For instance in Australia, the minimum wage is about 22 AUD. While in developing countries, the minimum wage will be lower. So it may be better to peg one vote to the minimum wage in fiat of one's jurisdiction, similar to Chronobank.

herbstephens commented 6 years ago

The vote token is not being pegged to the USD - only the initial price is set relative to an hourly wage based in USD. Otherwise, the value will be market-based.

jamesray1 commented 6 years ago

Ah, OK. Yep, market-based is good.

jamesray1 commented 6 years ago

Although regarding ICOs, there are some other novel ways that could be better, although maybe it's a bit late (but not too late) to implement them.

https://ethresear.ch/t/daico-and-iterative-investment/1052 https://ethresear.ch/t/explanation-of-daicos/465 https://ethresear.ch/search?q=DAICO

Tasty213 commented 6 years ago

Is this issue closed now @jamesray1 ?