I am still studying the safecoin, and still wondering is it possible to do to create asset coins? or would it be better to use safecoin as an asset?
According to the my research, safecoin can be anything. It can be email replacement very effectively. Or selling entertainment. Once you retrieve the coin, you could replace the current data with your newest data and send it out. This mean that each coin would be worth more than the coin itself. .00000001 safecoin (property asset) could be worth 1000 safecoins, or 5btc. The data inside of the coin is what makes it valuable. However it is limited memory. It is limited to several hundred kilobytes?
If that is the case, what if it uses magnet links? I brought this idea up couple months ago about using contracts that is stored in magnet links, and stored in toml format. I need to explain more about this idea, than what it was offered in the link. But I realized that human readable isn’t needed. What is needed is programmable contracts, like ethereum. With a different set of rules. Contracts will be talked in the next segment.
Let’s calculate how much there are in existence. 4.3 billion with the divisional by 8. Which is 430 billion assets in existence. Thats a plenty but we have 7.5 billion people on the planet, and growing. Every person would be hold three assets, total of 22.8 billion assets. Another 22 billion can be use for something else. But this calculation was done on this exact date. What about 10-15 years from now? I guess for now, it would be okay.
Real Estate/3rd party Validators
To build the polycentric society, we firstly need to build proof of property.
There are several ways to create individual real estate. Anybody should able to start business such as real estate with zero cost. However, the key component in this entire ecosystem is to incentive people to be more ethical, and moral. Greed, and for profits are part of the human nature. It needs to be utilized properly, and punish unethical behaviors.
Real estate agencies charge people for validation, or can be free depending on their service of choice. The established rule is they must visit the property, take pictures, meet face to face, and publish the documents to for anybody to see. This is the downfall of the being anonymous. However it is quite impossible to be anonymous when it comes to buying property. So it is wise to create one account for real identify purpose. And the rest will go to your anonymity identify.
Have users use safecoin as an asset. .00000001 as a property asset. Property owner then send a message to real estates for proof of validation. On the property asset page, you get to see signatures with 3rd party agency logo. The more real estate stamp of approval, the strength of validity goes up. To publish your asset to openstreetmaps requires 10 or more real estate agencies stamp of validation. However, this will introduce bad behavior when a person could create multiple accounts, stamp it on his own asset, and say, this is mine now. We need a reputation system for this case. Validators needs to be easy to access, and hard to proof.
Maybe set a limit that no users can’t stamp until it has reach certain level. This could incentive spamming in certain ways. This needs to be discussed.
But in the end of the day, the most complex system is I want to get rid of the reliance on humans for validations. To program proof of property would be a very difficult one. Trusting AI to do the work means that we are allowing AI to commit moral and ethical decisions for the people. Dangerous spot to be in.