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Comment on What if we’re thinking about “Fediverse funding” the wrong way? (Non-crypto idea)

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.

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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

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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.

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- 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.
  
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  - 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?
    
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    poVoq@slrpnk.net ⁨1⁩ ⁨day⁩ ago
    Taler isn’s a currency but a payment system. So yes each token generating entity would have their own token. There could be some sort of backend exchange mechanism (I think Taler is working on that), but basically the person receiving the token would have to redeem it with the same exchange that issued it. Legally it can’t be directly exchanged back to fiat money, but the exchange could issue a service contract with the person and pay them according to the tokens they hold.
    
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