BitShares Forum
Main => General Discussion => Topic started by: rusteemitblog on January 12, 2017, 12:26:28 am
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Hi, I have a question about assets:
We have an idea to create our translation guild as a formal entity as an experimental usecase of using bitshares assets for that kind of thing
We are thinking about having two kinds of an assets on to symbolize the part of ownership in the guild (Blockchained - "BLCKCHND")
and the second one is an obligation by the guild to translate a certain amount of text (rusteemitblogcoin - "RSBcoin")
BLCKCHND can only be got as a part of payment for the work done (translation/editing), or bought on the exchange for bts if someone is selling theirs
RSBcoin is somehow tied to bitUsd (with one coin being an obligation to translate 1000 symbols of text without spaces, and is priced depending on the market value of such work)
All the holders of BLCKCHND receive a share of the RSBcoin revenues
This is just an example with numbers being not correct: to order a translation of a text of 1000 symbols the customer buys 1 RSBcoin for 10 bitUSD (or whatever) and exchanges those coins for the translation once it is done. From that holders of BLCKCHND receive a certain %.
The payment for work is as follows 100% of the revenue = x% to the translator&editor + y% to the holders of BLCKCHND token.
The translator is paid in bitusd+some BLCKCHND, unless the translation is for the stuff on STEEM/GOLOS for @rusteemitblog.
In case of STEEM/GOLOS the payment is powerup into SP/GP from the post payout and some BLCKCHND
Thats what we had in our imagination.
If it is possible, then any group of people that others trust to do the work could use something like that. We're already doing it on steem/golos, and are kind of thinking about codifying the whole process.
From reading about bitshares I got an impression that it should be able to facilitate something like that.
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The idea is that owning a share in the company is going to pay a little bit from everything that the company makes at certain intervals, and is mostly for inside our group (although once the thing is stable, we might sell some on the market, why not).
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I'm not sure I fully understand your project but I hope this will show you what could be done:
For RSBcoin:
- Create a multisig account (an account controlled by multiple people), let's call it Macc
- Macc account creates the RSBcoin
- Macc sets the market fee for RSBcoin to y% (the part given back to BLCKCHND holders)
- Macc issues (create and send) RSBcoin to translators AFTER they have received a completed translation ordered by a customer of the guild
- Translators then sell their RSBcoin to the price they want for they work (market price) in whatever currency they want
- Once a RSBcoin has been sold, the customer sends them back to Macc account in order to receive the completed translation
For BLCKCHND:
- Macc account create the BLCKCHND
- Macc account issues BLCKCHND to a translator every time a work has been done
- After a certain threshold of fee is reached, Macc account withdraw the accumulated fee from RSBcoin market
- It then send them back to BLCKCHND holders as a dividend
Note:
With this example, RSBcoin is not tied to any currency nor USD amount :(
A y% fee will be collected each time a RSBcoin is sold on any market
You need (at least) 3 decimals for the RSBcoin (0,001 RSBcoin = 1 symbol)
You need to set trusted members as owners of the Macc account (= Guild account)