BitShares Forum
Other => Graveyard => DAC PLAY => Topic started by: betax on March 26, 2014, 11:15:58 am
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I know this DAC has just started, personally I believe that BitShares LOTTO is a great idea as it decentralizes the lottery from governments and so call "charities" with huge administration fees.
First of all I assume the initial DAC, BitShares LOTTO, will be for profit, as it will fund the DAC development and of course pay the shareholders (AGS / PTS).
Based on that assumption I would like to propose the creation of a complementary fork (if you don't plan to already), to create a global lottery charity, this will be purely for non profit and no administration fees. All the hard work will be put on BitShares LOTTO so it won't be necessary to add extra fees.
All the profits (everything but the prizes) will go go directly to health care (public hospitals, residences), public education, research (cancer, aids, anything). Each daily / weekly draw can be for a specific cause.
This could have the possibility to be a true global charity, and hence remove huge waste, especially on research areas.
Rules of course will be different (IE.. euromillions vs national lottery vs other old style ball lottery) and complement each other as other lotteries do.
This project can benefit to the whole ecosystem of DACs, one of the hardest things will be the global purchasing of tickets, mainly exchanging fiat for a ticket. Money conversion is a general problem to any DAC, and project like this would help to open the barriers.
We should not be shy and with a project like this we should ask for resources of global players, which already have simple purchasing capabilities (paypal, microsoft, amazon, google, twitter, facebook).
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The charity idea is good, and with great vision :)
I think the *hardest* part should be the administration of fund usage, if you are going to use some form of foundation or agency, how could you keep it transparency and effective, against corruption?
And, is the charity mechanism part not part of DAC system, not decentralized? Would it become a central point of failure?
In my point of view, charity part is the key for this fork to success, and is more important.
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Cool idea. Questions: How will the charities be chosen that the DAC will donate to? How would the actual act of doing something with the money be automated? One of the big costs/headaches with charity work is putting the money in the hands of people who need it, and that sounds hard to automate.
Are you familiar with Memorycoin? They have an automatic charity donation ever 2 hours, and I believe what happened is that nobody has ever effectively gotten a real charity to be voted on. So one guy has collected all the charity donations and is waiting for the coin's value to rise before he gives them to anybody. Moral of the story: don't put too much faith that voting will accomplish your goals... On the other hand, Memorycoin never really worked very well anyway, so maybe it's a bad example.
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You are both right, the charity part is the hardest part, especially the anti corruption part.
Organisations should bid for funding base on specific needs, and yes you are right is hard to get people voting, but once they see that their vote counts they will get involved. (Some more active than others).
The main rule could be that it is a public organisation, and they have to demonstrate where the fundings are going (link to transaction), everything should be published for information. Heavy penalties, ie not more funding if irregularities are found (to organisation and / or project), this then could be given to another organisations.
Funding could be automated in stages (based on project completion), and should be the public who checks / validate the progress.
Other projects of the organisation should be made public with their funding / budget. For example the money from lottery can be used to finance a new ward in a hospital (great), but the organisation is wasting billions on another project.
As an example for Health care (Hospitals, Residences), a public organisation will be the NHS in UK. Of course this will be more difficult in other countries, but in this scenario will need to be localised.
A research project, ie cancer, on the other side will be global.
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I think the key is transparency and the involvement of everyone as whole. The charity part is a DAC on its own, but with an added incentive of a big price (Lotto).
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Charity of this form is more of a marketing stunt than anything. I would simply have the users who buy the lotto tickets specify the charity they want their ticket purchase to support. It would be automatic, decentralized, and those buying the tickets would have no reason not to specify a charity.
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Charity of this form is more of a marketing stunt than anything. I would simply have the users who buy the lotto tickets specify the charity they want their ticket purchase to support. It would be automatic, decentralized, and those buying the tickets would have no reason not to specify a charity.
For simplicity terms, yes, the users can choose a charity. But I believe there are too many charities (at least in the UK / US), and the idea / proposal is to get rid of the administration and donate directly to the project, most of them are businesses which pretend to be charities as they donate 15%. This is an example http://www.charitychoice.co.uk/charities/medical-welfare/cancer
But simplicity is good, so why not have both and let the users decide, most important the donations / expenditure should be transparent, and controlled by the users (ie your project is a failure, stop the funding).
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Yes I think any charity that wanted to could list a name and address. So that when you bought a ticket you could just click on an address and they would receive the charity part of your purchase, you might even be able to specify a %?
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would there be a way to include the BOINC protocol from Gridcoin here as well? Effectively, this could reward them with more tokens to use in the Charity Fork for actually helping to contribute to finding solutions in these areas.
Not sure if this is possible with DPOS, but an interesting thought for a Dev to ponder if it is possible.
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would there be a way to include the BOINC protocol from Gridcoin here as well? Effectively, this could reward them with more tokens to use in the Charity Fork for actually helping to contribute to finding solutions in these areas.
Not sure if this is possible with DPOS, but an interesting thought for a Dev to ponder if it is possible.
I know that BOINC was used for Ripple distribution, what you mean of "include the BOINC protocal"? They need computation power, the way we help them I guess would be BOINC as normal charity seed, and let the people make the decisions.
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Xeroc from these forums is working on the idea of setting up one or more delegates to run for charity. He might offer something to this conversation.