Comment on What if we’re thinking about “Fediverse funding” the wrong way? (Non-crypto idea)
Steve@communick.news 1 day agoSo if they have real cash value, how do you secure a distributed currency system without a blockchain? How do you stop the creation of fraudulent tokins?
The coins / etc don’t have any monetary value.
What you do is you purchase the amount that you want, on the platform server that you are planning on using them on.
Ie Peertube.
You would then tip / etc with them.
And then, the creators, etc. that you pay, would then be able to cash out those coins for real currency.
The coins themselves don’t have any monetary value. […] And then, the creators, etc. that you pay, would then be able to cash out those coins for real currency.
The ability to ‘cash out’ means they do have monetary value.
Then I guess that the term “Trade In” might be better.
As I mentioned in the post, it’s similar to how Pachinko Rules work.
Whatever the term, if the coins can be exchanged back into a real currency or goods, they have real value, and as such they’re as good cash.
Pachinko balls won from games cannot be exchanged directly for money in the parlor, nor can they be removed from the premises or exchanged with other parlors. However, they can be legally traded to the parlor for so-called “special prize” tokens (tokushu keihin (特殊景品) [ja]), which can in turn be “sold” for cash to a separate vendor off-premises.
But again, why go through all this trouble instead of just sending money through a payment processor?
poVoq@slrpnk.net 1 day ago
Such a system could be set up relatively easily with GNU Taler. The problem is rather on the legal side for the organization that holds the funds and converts it to the tokens. Unless you are registered as a bank there are severe limitations on how much money you can hold and covert.
rglullis@communick.news 1 day ago
Stripe has the connected account system where they work as the money transmitter, so one could build a system where you just need to keep track of the IOUs and Stripe is the one collecting and sending payments. It’s how Github sponsors work, and it’s how I set up the Communick Collective
Steve@communick.news 1 day ago
Then you have a central org you need to trust with the money. It’s not really distributed or federated system anymore.
poVoq@slrpnk.net 1 day ago
There is no need for a central org. It could be many different ones all using the same Taler software.
Steve@communick.news 1 day ago
Couldn’t each one could decide how much to charge and pay for their tokens? Like a swarm of countless centralized currencies, rather than a single decentralized one?