- A collection of Ethereum accounts where each account maps to one, and only one, living person.
- Members are entitled to distributions of Ether from returns accrued via a fund administered and maintained by members, in proportion to their holdings of a token "Base".
- New "Base" is distributed, monthly*, on an equal basis to all members, in line with an annual inflation rate of 20%*.
- New user submits:
- photo file (uploaded to ipfs, swarm, or initially a centralised service, hash recorded)
- fee of 10Eth*
- New user validation:
- 20* randomly selected (validated, non-zero "base" holding?) members create a pool of validators for matching the submitted photo to the member (video conferencing, meetups).
- A validator may decline to participate, or a time period (1 week*) for their participation may expire. In such cases, they are replaced in the pool until 10* of the validators have either accepted or rejected the application.
- Declined/expired participation of validator results in decrement* of their "Base" holding
- Rejected applicants lose their application fee
- Validators are rewarded* for participation if they contributed to either ultimately accepting or rejecting an application
- Successful applicants are credited with 20,000* base
- Note, validator rewards need to be calibrated such that the reward is greater than the potential loss via dilution of accepting, or of rejecting and keeping the registration fee
###Membership / Participation
- Participation in seeking fund distribution (basic income) is optional as regards maintenance of a members BaseId. Members may let their base holding fall to 0 with no repercussions other than not receiving distribution.
- Any Ethereum account/contract may hold base.
- Only base held by validated members counts towards distribution.
- Parameters, investments, upgrades, handled with voting
- voting weighted by member "Base" holding, as a proxy for participation
- members may transfer their identity to a new Ethereum account
- Beyond the efforts of the registration process to limit membership to one person only, a challenge/defend scheme, with appropriate rewards/costs will exist to remove and penalise members who attempt to create/maintain more than one account.
###The Fund / Basic Income
- Meaningful distributions will, of course, depend on a healthy fund with which to invest in other ventures, or for staking (after transition to POS)
- A percentage (25%*) of returns is held for reinvestment in order to achieve fund growth
- Fees/Contributions will be sought for utilisation of validated accounts by other Dapps
- Dispute resolution
- Philanthropists may contribute to the fund, with the option to withdraw their contribution
- distribution interval
- rate of inflation
- registration fee
- registration "Base" allocation
- number of registration validators in pool
- number of registration validators need for acceptance
- number of registration validators need for rejection
- non-participation in registration validation
- validator reward for successful application
- validator reward for rejected application
- percent of returns distributed