Here we discuss unresolved issues
Hoarding vs savings
Hoarding removes capacity from the economy causing depression and unemployment. So in order to discourage hoarding Wörgl (Gisell) money declined in value over time (demurrage). Zakat, a tax on excess wealth, is another approach.
As mPesa in sub-Saharan Africa has shown that using air-time (call-time) as a savings account (and capital accumulator) is very useful for the unbanked, so forcing them to cash out because or demurrage, increases the risk of theft, and discourages savings.
Demurrage as a sliding tax on positive balances, could be a source of revenue for the maintainers of the system.
Hugo Salinas Price proposes precious metal coins measured by weight without a currency denomination (such as the Krugerrand and Libertad). The currency denomination of the count would be decreed by the treasury. When the price of the precious metal rises, then the coins denomination would rise (to prevent melting down), yet to protect savings, when the precious metal drops, the coins denomination will not decline.
Perhaps floating the mutual credit value unit (valun) against a basket of fiat and commodities would provide a fair unit of account. Should local currencies, tax, cost-of-living be considered, and what about the Big Mac purchasing power parity model?
Governance of maintenance (and distribution of revenues) in a decentralised system requires a different approach to the hierarchical police state of a typical corporation.
One approach under consideration is that a decentralised autonomous organisation (DAO) manage the allocation of funding to developers based on votes of users for features they prefer.
Perhaps votes could be weighted in favour of users with more activity (in order to avoid a sudden take over, or Sybil attack). Many papers have been written about voting systems, and DAOs.
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