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January 02, 2014, 06:37:42 PM
Last edit: January 02, 2014, 07:17:51 PM by vintagetrex |
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The biggest difference between a DAC and a Wal-Street Corporation is the ability to not meet regulations. This allows a DAC to employ an incentive system to effectively pay for new information. I am referring to a decentralized intellectual property system (previously titled 'Nemesis') and will outline it in this thread. A system of currencies is utilized to maintain an array data structure. It is both a self standing IP system and an exploit of government based IP systems such as the USPTO. The system retains value for original content submitters, replacing the social function of a government IP system.
Legal Tool Exploit
copyright censorship preventing coin/network
contract, Non Disclosure Agreement anonymizing software
The system consists of two types of currency:
Type I
-based on proof of work
-prevents double spending
-stock in the entire system as a whole
-only one of these currencies
Type II
-based on proof of storage
-prevents censorship by distributing storage and hosting of content
-stock in specific content
-one of these currencies is generated for each content submission
How to make Type II currencies retain value for original content submissions
-content submitter gets 50% of type II currency for submitting content
-submitter's coins in type II currency are paid out at the same rate as to mining
-this prevents a person from profiting from copying and resubmitting previously submitted content
-based on game theory analysis of incentive for miners
-a miner cannot gain more than 50% of a currency
-rather than mining the currency for a duplicate submission a person would rather duplicate again and resubmit the content to get 50% of the currency
-lack of incentive to mine duplicate submissions means duplicate submissions have no value
define "terminal address" - an address that cannot send coins; it can only receive coins
-there is one terminal address associated with Type I currency
-there is one terminal address associated with each Type II currency
Advertising System
-There is an advertising slot associated with the Type I currency and an advertising slot associated with each content submission and Type II currency
-advertising bids are made by sending a bid to a terminal address with the associated currency type
-ads are stored and hosted along with the content
-demand for advertising creates demand for currencies
-permanent removal of coins from circulation through advertising causes the number of outstanding coins to decrease
this system will have a larger market cap than Google but the value will be spread out because large amounts of it will go to the people who submit the content
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