[CONCEPT] Solution for IPOs : Proof of Person - Equal Stake

[Pentamon]

Proof of Person - Equal Stake is a proposed solution for the problem of Greed and Envy during the startup of second generation crypto currencies:

Even though technically some of the second generation cryptocurrencies have turned out to be exciting technical successes, many of the recent projects that featured pre-mined ‘Proof of Stake’ concept currencies - NXT, Qora, and now also NEM -  have been plagued by the perception that the process of starting up the currency is not fair, but hampered by greed and envy.

I do acknowledge that greed and envy may have a useful role to play in society, but I have the suspicion that in the case of establishing buy-in and confidence into a currency, it would be more likely to succeed if the currency is perceived as fair, and of a steady value.


Initial axioms:

1. Distribution has to be fair, not only at a certain point in time, but for all future generations.

2. Every living, adult human should have equal access to the currency.


Proposed mechanism of distribution:

3. Every living, adult human should receive one free stake of currency, once in their life, with the opening of their account.

4. The opening of a new account is the occasion when new coins are forged or ‘mined’. That process might be drawn over a period of time, for instance over one year, in order to average the received value and also to introduce the newling to the concept of currency.

5. Opening of a new account is supervised by multiple existing mature accounts, called bankers, by vouching for the Proof of Person:

6. Biometric identification of sorts as well as two forms of traditional identification are hashed into or included with the account number.



The benefit of such a system might be that the value of the currency would not fluctuate that much over time, because essentially you are having IPO’s year round, and the ratio of coins to individual is maintained.

This concept of distribution can be applied to any other 100% Proof of Stake design.

Clearly the rewards for maintaining nodes, the network and incentives for development can co-exist along the Proof of Person - Equal Stake concept.

Pentamon

[Pentamon]

(Optional concepts:
The account of a person goes through life stages:
Initially in the first year, the coins are mined, then after another year, the account matures into a banker, provided there is a certain proof of use in that account: activity and a positive balance.
Every human should receive one stake of currency, that is ‘colored’ similar to an unique asset. These coins are going to move through the big pool during the life of the individual, but they sort of want to magnetically move back to the originator. Once the person dies, the coins start to wither away… essentially dying with the person.)

Pentamon

[n3lz0n]

watching!! interested!!!

[overthetop2011]

It is a great idea,really something new.

I support the project and will keep eyes on it.

Good luck ,dev.

 

[kenboy]

proof of person?i dont mean

[dE_logics]

Proof of Person

Death of privacy.

[lordoliver]

Proof of Person - Equal Stake is a proposed solution for the problem of Greed and Envy during the startup of second generation crypto currencies:

Even though technically some of the second generation cryptocurrencies have turned out to be exciting technical successes, many of the recent projects that featured pre-mined ‘Proof of Stake’ concept currencies - NXT, Qora, and now also NEM -  have been plagued by the perception that the process of starting up the currency is not fair, but hampered by greed and envy.

I do acknowledge that greed and envy may have a useful role to play in society, but I have the suspicion that in the case of establishing buy-in and confidence into a currency, it would be more likely to succeed if the currency is perceived as fair, and of a steady value.


Initial axioms:

1. Distribution has to be fair, not only at a certain point in time, but for all future generations.

2. Every living, adult human should have equal access to the currency.


Proposed mechanism of distribution:

3. Every living, adult human should receive one free stake of currency, once in their life, with the opening of their account.

4. The opening of a new account is the occasion when new coins are forged or ‘mined’. That process might be drawn over a period of time, for instance over one year, in order to average the received value and also to introduce the newling to the concept of currency.

5. Opening of a new account is supervised by multiple existing mature accounts, called bankers, by vouching for the Proof of Person:

6. Biometric identification of sorts as well as two forms of traditional identification are hashed into or included with the account number.



The benefit of such a system might be that the value of the currency would not fluctuate that much over time, because essentially you are having IPO’s year round, and the ratio of coins to individual is maintained.

This concept of distribution can be applied to any other 100% Proof of Stake design.

Clearly the rewards for maintaining nodes, the network and incentives for development can co-exist along the Proof of Person - Equal Stake concept.

Pentamon

I am thinking about that since months now, but didn't post, because there will be people using half ready concepts and destroy the possiblity at the beginning. Because the first time you can maybe reach people. If it was somehow wrong the second time you bother them already. And the 3rd time is only spam.

I think its too early for it. I have also a few concepts for it, thinking a little further with privacy, but they are all not really useable yet.

[Pentamon]

[Snipped]

I am thinking about that since months now, but didn't post, because there will be people using half ready concepts and destroy the possiblity at the beginning. Because the first time you can maybe reach people. If it was somehow wrong the second time you bother them already. And the 3rd time is only spam.

I think its too early for it. I have also a few concepts for it, thinking a little further with privacy, but they are all not really useable yet.

@ lordoliver
I am relieved to hear that there are others that think in the same direction.

Keep thinking, and when you are ready, let us know your ideas. I am looking forward.

Pentamon

[Pentamon]

Proof of Person

Death of privacy.

Well said.

And this is the reason that the Proof of Person concept  might not gain a lot of traction in this bazaar.
With 'this bazaar' I mean the current fermenting, bubbling cesspool formed by the various cryptocurrency projects.

Nevertheless, I am giving the idea a chance to see if it could survive in some future coin.

As the public ledger is a solution for untrusted parties to work together, maybe if you install a system of trusted parties, you might be able to obscure the ledger somewhat.

Pentamon

[caishendizi]

what is it？ i cannt understand ii

[hvezdasmrti]

To Pentamoanfuture: Nice words but far away from reality... like always.

The more i watch the cryptomarket the more i feel that there is a group of K. Marxs who are intending crypto-communism again and again and it doesnt work again and again... Communism has never been working. At least not without evil capitalism with UNFAIR conditions and UNFAIR distribution. Believe in evolution, e. g. evolution BTC with no initial distribution - NXT BTC 2.0 with unfair distribution - NEM NXT 2.0 with mass distribution - WTF (something in future), not in revolution (red commies)

[Pentamon]

To Pentamoanfuture: Nice words but far away from reality... like always.

The more i watch the cryptomarket the more i feel that there is a group of K. Marxs who are intending crypto-communism again and again and it doesnt work again and again... Communism has never been working. At least not without evil capitalism with UNFAIR conditions and UNFAIR distribution. Believe in evolution, e. g. evolution BTC with no initial distribution - NXT BTC 2.0 with unfair distribution - NEM NXT 2.0 with mass distribution - WTF (something in future), not in revolution (red commies)

What do you see as ideal?

Or are you saying that what we have is what we have, and that is good?

[nergpchen]

what do you mea?  i cannt understand ii

[Trouble821]

Proof of Person

Death of privacy.

I agree, Satoshi intended cryoto to be anonymous if a user chose to use a different address each time. Proof of person goes against everything his work stands for.

[feelsgood]

Proof of Person

Death of privacy.

Can't agree more. Anon is very popular for the moment.

[hala]

  I prefer to name it a UtopiaCoin.

[Pentamon]

Point of sale device:

How about a ring that replaces your credit card.

On top of the ring is a scanner that scans your fingerprint, or the fingerprint of the person you pay to.
You just have to swipe your finger over the ring.

Did you know that you carry your public key at the tips of your fingers?

Pentamon

[lordoliver]

Point of sale device:

How about a ring that replaces your credit card.

On top of the ring is a scanner that scans your fingerprint, or the fingerprint of the person you pay to.
You just have to swipe your finger over the ring.

Did you know that you carry your public key at the tips of your fingers?

Pentamon

a fingerprint can't be recognized, if you copy and change it a little and then put it on with wax or something.
These kind of things can ALL be faked, so that people can have more of it.
Again. Please stop broadcasting here this ideas, because people will use half ready concepts and you bother people that you can't reach later any more, if you have a really good concept.

[xtsjyfx]

I support the project and will keep eyes on it.

[platorin]

Very good idea. Everything that comes with honesty and equality has my attention. I wish you all the luck, Sir, since there is a pandemonium at this very moment around alt-coins.