Mutual Aid Society vs Insurance

“It has long been accepted that blockchain technology is a perfect fit for the Financial industry. Now it is time to consider how the technology could benefit the Insurance industry. Maybe someday it will also take over Real Estate and completely conquer the FIRE sector of the economy.” - Dan LarimerFull Article - Discussion - Further Discussion(Image: 

Pictures of Money & 

eshutt)

Mutual Aid Society vs Insurance

“It has long been accepted that blockchain technology is a perfect fit for the Financial industry. Now it is time to consider how the technology could benefit the Insurance industry. Maybe someday it will also take over Real Estate and completely conquer the FIRE sector of the economy.” - Dan Larimer

Full Article - Discussion - Further Discussion

(Image: Pictures of Money &  eshutt)

Mutual Aid Society (MAS) On a BlockchainToday Dan Larimer outlined his idea for a Mutual Aid Society (MAS) on a blockchain. 

A mutual aid society (aka 

Benefit Society) is a society, an organization or a voluntary association formed to provide mutual aid, benefit, for instance insurance for relief from sundry difficulties. Organizations such as this may be organized formally with charters and established customs, or may arise ad hoc to meet unique needs of a particular time and place.

“Today I would like to present my concept for a Mutual Aid Society (MAS) on a blockchain. For lack of a better name for this concept I will refer to this system as MUXER. Muxer is a social network of giving you can count on when you need it the most.”The basic concepts of his MAS are for the Community to commit to supporting others within the society, vote on which people qualify for help, give pre-committed funds to authorized requests, request help from the society when a qualifying event happens and receive donations from the members of the society the Community has supported.“When you join a MUXER society by helping to support their members you join a community of people who will have your back when you need it the most. It is through mutual sharing of life’s unexpected and undeserved burdens that members of a society gain peace of mind.”A Fee Backed Asset would be created to help to support growth in the MAS by allowing the FBA to be tradeable among the Community members and allow owners of the FBA to vote on further enhancements/improvements to the system.Along with the FBA the MAS would have a built in referral program which would be designed to allocate a portion of the funds to those who bring new contributors into the system. When users contribute to the society they earn “Karma” which qualifies users to receive benefits from the society.

“Karma fades over time if a user does not maintain regular donations. The default half life for Karma is about 6 months. This means that giving a fixed amount every month will eventually result in a maximum Karma level around 10 times the monthly contribution.”All charity is P2P and once the MAS is up and running it should create steady buying pressure on BitShares according to Dan’s design. Full Article - Discussion(Image: 

eshutt)

Mutual Aid Society (MAS) On a Blockchain

Today Dan Larimer outlined his idea for a Mutual Aid Society (MAS) on a blockchain.  A mutual aid society (aka  Benefit Society) is a society, an organization or a voluntary association formed to provide mutual aid, benefit, for instance insurance for relief from sundry difficulties. Organizations such as this may be organized formally with charters and established customs, or may arise ad hoc to meet unique needs of a particular time and place.

“Today I would like to present my concept for a Mutual Aid Society (MAS) on a blockchain. For lack of a better name for this concept I will refer to this system as MUXER. Muxer is a social network of giving you can count on when you need it the most.”

The basic concepts of his MAS are for the Community to commit to supporting others within the society, vote on which people qualify for help, give pre-committed funds to authorized requests, request help from the society when a qualifying event happens and receive donations from the members of the society the Community has supported.

“When you join a MUXER society by helping to support their members you join a community of people who will have your back when you need it the most. It is through mutual sharing of life’s unexpected and undeserved burdens that members of a society gain peace of mind.”

A Fee Backed Asset would be created to help to support growth in the MAS by allowing the FBA to be tradeable among the Community members and allow owners of the FBA to vote on further enhancements/improvements to the system.

Along with the FBA the MAS would have a built in referral program which would be designed to allocate a portion of the funds to those who bring new contributors into the system. When users contribute to the society they earn “Karma” which qualifies users to receive benefits from the society.

“Karma fades over time if a user does not maintain regular donations. The default half life for Karma is about 6 months. This means that giving a fixed amount every month will eventually result in a maximum Karma level around 10 times the monthly contribution.”

All charity is P2P and once the MAS is up and running it should create steady buying pressure on BitShares according to Dan’s design. 

Full Article - Discussion

(Image: eshutt)

Why I Like EthereumToday Dan Larimer, Founder of BitShares, expressed what he likes about the Ethereum project and how BitShares could adopt some of Ethereum’s key components, mainly it’s scripting language. This would allow anyone to add new features to BitShares without having to “ask” permission of the BitShares stakeholders.

“I have said many negative things about Ethereum in the past, but today I would like to change that. Due to recent disputes within the BitShares ecosystem I have come to appreciate a certain qualities of Ethereum that the BitShares community could learn from.”

Dan’s vision is that “BitShares should be neutral” and could integrate Ethereum’s Virtual Machine into BitShares.

“In theory there is no reason why BitShares couldn’t become just as open and welcoming to developers as Ethereum. Developers just need to have confidence that if they work on a new smart contract that it will be accepted by blockchain after reasonable peer review.” BitShares has solved some of Ethereum’s biggest issues, while Ethereum has solved some of BitShares issues. So BitShares learning from the good aspects of Ethereum and adopting its methods concerning peer reviewed smart contracts would allow the BitShares Community to embrace the notion of BitShares as a platform.

“I would actively support a FBA to integrate the Ethereum VM into BitShares. Done properly this would have significant advantages over the current Ethereum blockchain.”Full Article - Discussion(Image: 

lintmachine Mod: Buck Fankers)

Why I Like Ethereum

Today Dan Larimer, Founder of BitShares, expressed what he likes about the Ethereum project and how BitShares could adopt some of Ethereum’s key components, mainly it’s scripting language. This would allow anyone to add new features to BitShares without having to “ask” permission of the BitShares stakeholders.

I have said many negative things about Ethereum in the past, but today I would like to change that. Due to recent disputes within the BitShares ecosystem I have come to appreciate a certain qualities of Ethereum that the BitShares community could learn from.

Dan’s vision is that “BitShares should be neutral” and could integrate Ethereum’s Virtual Machine into BitShares.

In theory there is no reason why BitShares couldn’t become just as open and welcoming to developers as Ethereum. Developers just need to have confidence that if they work on a new smart contract that it will be accepted by blockchain after reasonable peer review.” 

BitShares has solved some of Ethereum’s biggest issues, while Ethereum has solved some of BitShares issues. So BitShares learning from the good aspects of Ethereum and adopting its methods concerning peer reviewed smart contracts would allow the BitShares Community to embrace the notion of BitShares as a platform.

I would actively support a FBA to integrate the Ethereum VM into BitShares. Done properly this would have significant advantages over the current Ethereum blockchain.

Full Article - Discussion

(Image: lintmachine Mod: Buck Fankers)