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Samuel

MANGOS - Proposal for centralized verification institution

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This is a centralized approach, I was thinking about today on this topic:

**Introduction to the vocher model**

As fas as speaking today, there is still a lot to be discussed around the legal state of alternative- and cryptocurrencies, since non-government identities are so far not entitled to create their own currencies. One inspiring workaround was found by our local currency in Bavaria, the [Chiemgauer][1], which lead us to build on that solution and advance their model to a global scale operation. 
The solution the chiemgauer organization was choosing is to build their currency on the definition of vouchers. A voucher can be issued by any legal identity as long as it is tightly coupled to a real currency, such as the Euro. In case of the Chiemgauer, 1 Euro is the same as 1 Chiemgauer.
 
**Adaption of model to a basic income currency**
We were wrapping our head around how to take advantage of that solution and jumpstart an alternative currency with integrated basic income. Our proposal, the Mango Bank:
 
The MangoBank will be founded as a non-profit organization, whose main mission will be to verify individuals and other organizations and connect the vouchers to the euro. In order to be able for the MangoBank to always pay out Euros for their vouchers, each new verified member will have to deposit 5€ in the MangoBank. Our conversation rate will be put at 5€ = 50.000 Vouchers. Since for each person there is going to be only 43.800 vouchers generated, the 5€ will equal to 4.38€. The remaining 0.62 Cents are the bounty for our hardworking verificators, that are traveling the world to reach every last individual to enable everyone to receive our basic income vouchers. 
 
Since we have open markets, the vouchers can gain higher value over the course of time when traded in the markets. Thus, making the MangoBank Organisation obsolete, once other institutions are exchanging the vouchers for better exchange rates than the MangoBank...
 
To be continued soon
 

And here the levels of verification:
 

What levels of verification do you suggest? And how are they defined?

4 Levels: 

  • 1 | Anonymous: Login & Signup with normal user. Just look around, you are not verified yet.
    (verified: false)
  • 2 | Verified: You have been verified by a member with level 3, you now receive Mangos
    (verified: true)
  • 3 | Verificator: If you have been appointed by a member with level 4, you are able to identify other members
    (verified: true)
  • 4 | RootVerificator: As root verificator, you are able to appoint Verificators and other Root Verificators
    (verified: true)

At which level will you get mangos distributed?
Level 2: The moment you are completely verified 

 

Who is able to verify who?
Level 1,2: notAllowed
Level 3: 1 and 2 
Level 4: 1,2 and 3

 

No verification lasts forever, when will be a renewal due or how can you fall out of your current verification level again?
No ideas yet, what would you suggest?

 

If there are black sheep abusing their verification level, who and how are they going to be suspended from their level?
No ideas yet, what would you suggest?

http://talk.liv.io/t...tion-methods/14

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hmmm,

the good think is, that I don’t see facebook anymore in the proposal :)

 

to your questions:

No verification lasts forever, when will be a renewal due or how can you fall out of your current verification level again?

I suggest every 5 years like in the current mango example.

 

If there are black sheep abusing their verification level, who and how are they going to be suspended from their level?

use some liquid democracy platform like Adhocracy to vote on all the stuff.

in the beginning you can just use it for feedback, later on if it functions you can even code the liquid democracy logic in the blockchain itself.

 

 

If this stuff with the voucher is functioning?

...better ask an good lawyer, or use an not so easy attack able thing like the bitcoin technology.

 

Just to look in the history, they even changed the laws to forbid alternative currencies in the past, even if these currencies demonstrated very successfully how to solve the great depression problems...

 

to better give them not much to attack...

 

or go to Brasil, their the main court ruled, that the central bank cannot forbid local currencies, if they help the people.

 

The argument was, that the central bank did nothing to solve poverty, but the local currency did :)

 

Also in Argentinia there was an funny example. When their currency collapsed the last time, millions of people start to use alternative currencies.

 

They functioned very well, until the bank started to print with their printing machines the alternative currency and destroyed it...

 

Sadly, the judges could do nothing against the banks, even if they wanted, because it was not illegal to forge it, because it was no legal tender....

 

I wounder why they could stop them with claiming their copyright.... maybe the next time... would be a nice irony if finally the copyright would be used to stop the banking cartel :)

 

So better be prepared and use some kind of cryto currency which is non forge-able.

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If this stuff with the voucher is functioning?

...better ask an good lawyer, or use an not so easy attack able thing like the bitcoin technology.

I will have a meeting with a befriended lawyer tomorrow.  ;)  But Chiemgauer is doing this already since 12 years successfully. 

Well you would of course combine it with the blockchain. The institution is just there for the verification process. And there will never be physical papers handed out, we are in a digital age. In the end it is a totally valid alt currency, just on the legal paper its vouchers. 

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