Abosom - primum verbis

Abstract – Abosom is the simplest and Purest form of a DAO, from modest beginnings Abosom has all the tools to grow into a world changing, asset owning, multi generational, politically neutral, empowering, decentralised assistant to mankind.

Contents

Equity as a blockchain
What is Equity
What is a blockchain
What is the Abosom ‘tokenomic’ model

Asset Ownership
Abosom as a charity
Abosom as a holding company
Legal contracts to enforce + keep custody

Custodian companies
How will they be setup and why
How will they be forced to follow Abosom governance
What happens when they go rogue?
Recovering Assets

Legal Framework
Example of Custodian Contract
What are custodians

Masternode Governance and Beyond
How masternode Voting works
Why it does not work
Next steps (Liquid Governance)

Privacy
Why Privacy is important
How Zerocoin works
External Methods
Private voting + Attack vectors

No Americans allowed
Americans are not allowed, but they cannot be stopped
Abosom operations in the USA
Political statement

Shitcoin Roadmap

Asset ownership Roadmap

Becoming a state

The economics

Beware of imitations
PGP key

Equity as a blockchain

Equity :- The quality of being fair and impartial
:- The value of shares issued by a company

Blockchain :- A digital ledger in which transactions made in Bitcoin or anther Cryptocurrency are recorded chronologically and publicly.

The Equity as a blockchain model is simple;

A Blockchain creates an arbitrary number of coins, the total supply of coins represents the value of the blockchain. People or organisations can freely, privately and pseudonymously transfer these coins and thus the value contained therein, this process does not acknowledge borders or sanctions.

When an entity wishes to add value to the Blockchain and distribute it among all the token holders it can achieve this using the Buyback Burn model.
The entity must acquire the tokens on the open market and then burn them. Burning coins can be achieved by sending them to an address which does not have and never will have a private key. These burn addresses can still be publicly audited and monitored so burnage is a very public act.

Asset ownership

Abosom as a charity

Abosom will keep local community at the heart of wherever it is present. This means stakeholders will be encouraged to offer services to local people who need them. Abosom will also endeavour to keep to the 11% rule wherever possible, this rule donates 11% of profits to a chosen charity. Endeavours which are keeping to this pledge will be clearly identified in all voting portals.

Abosom as a holding company

Abosom is a blockchain, the brain of the blockchain is the governance system, the body of the Blockchain is the holding company or the numerous holding companies. Abosom will utilise holding companies as a means of taking and controlling equity in various interests. These holding companies will be directed by custodians in accordance with contracts approved by Abosom itself.

Legal contracts to enforce and keep custody

Ownership is a fiction, a social construct. Control is everything. Abosom aims to exert control over its assets and the custodians, using legal contracts to ensure that profits are sent to Abosom blockchain and burnt.

As well as custodians and officers who will be responsible for making sure Abosom stakeholders are heard, Abosom will also utilise agents who will start legal proceedings should any custodian neglect to follow the contract approved by Abosom. This will be covered in more depth in sections 3 and 4.

Custodian companies

Blockchain extremism is a problem, There is no need for everything to be constructed on -chain. Smart contracts are fine, but the legal systems in the developed world have few inherent flaws. As such. Enforcement of Abosom contracts should be triggered on-chain and completed in courts of law.

Ownership or better said, control, of Abosom assents will be given to custodian companies. These companies should act on behalf of the Blockchain given instruction by approved agents. This ensures that decisions can be made regarding security of assets and movement of value. For example, if the Blockchain owns/controls 1 dash masternode it can be quickly restarted by an agent or custodian should it crash, this action cannot be subject to community vote as they are too infrequent (monthly) and also too many votes would raise the burden on community members too high.

Custodians should take payment in Abs directly from the budget. All other considerations should be made during the proposal process.

Agents should be tasked with monitoring the custodians and should certain criteria not be fulfilled they should launch legal proceedings. These will be completed pro-bono or using funds set aside for this purpose depending on the agent and the jurisdiction. For example a custodian controls a property, collects a monthly rent, after taxes and wages the custodian is tasked with paying profits to a certain burn address as laid out in the custodians contract. If these payments are not made it is down to the agents discretion whether or not they should then start legal proceedings.

Having agents for all custodians is not mandatory, however if a custodian is controlling assets without an agents supervision then Abosom has nobody incentivised to legally enforce it’s will. This does not guarantee that Abosom’s wants will not be enforced voluntarily by any token holder or on their behalf by any independent organisation.

An agents position is dependent totally on their continued support from the budget system and thus if an agent has been deemed to have acted incorrectly it is assumed that the budget system will remove their authority and remove their incentive to continue their roles.

Recovery of assets after a theft by or from custodians should be carried out by agents, they should instruct new custodians, receive insurance payments, file police reports and all other tasks that must be carried out by a natural human.

Legal Framework

Commercial contract (meta data)

The main purpose for this contract is to protect Abosom network from asset controllers absconding or otherwise failing to adhere to the terms of the agreement entered into by said controller and the network via the passed proposal put to the governance system.
This contract must contain the following

• Reference to the proposal system
• Reference to the point in time or block number when the proposal was accepted
• Reference to the asset holder
• Reference to the activation address which should also be the payment address.

The contract should also contain a statement something like: I [insert name] do agree to purchase Abosom with [X]% of profits, after correct taxes and operating costs have been met. This includes a contingency savings of [Y]$, which will be audited independently by [Z] or stored in BTC here insert BTC add] This contract can only be superseded or released by another agreement made after this one and approved by Abosom blockchain.

Legal process chronology

1. Pre-proposal discussion is had, proposer introduces idea to Abosom community using text, audio, video or a combination of all 3. [up to 12 months]

2. Contract is created and signed by all relevant parties. Contract states that it will be VOID if certain payment is not received in NEWLY MINTED tokens to a certain address before a certain date.

• Contract will also state for any token Buyback will be after the VOID date.

1. Proposal is officially put forward to Abosom for approval

• If it passes, payment to proposers address will be made
• If it fails, no payment will be made.

1. Passed proposals now have a signed and active contract

• Should the proposer wish to change any parameters they will need to put forward another proposal.
• If any payments are made there will be no problem, contract can survive 100 years

1. If payments stop, another entity [Solicitor] will be incentivised to start class action or equivalent proceedings against the proposer in an effort to recover value.

Masternode Governance System

Abosom will use the masternode governance system first made famous by Dash. A masternode is a special node linked to a wallet which holds a certain amount of ABS locked as collateral. Masternodes provide 3 main services. Firstly they enable instant transactions, secondly they are instrumental in mixing coins for Coinjoin privacy features, and finally they can be used for voting for consensus finding and budget features.

Masternode voting works by allowing masternode owners to vote YES/NO/Abstain on any or all proposals that have been put forward by community members. Proposals can be put forward by anyone and they can request a certain amount of funds from the budget, proposals will come with a small fee to avoid spam. The Abosom governance system has voting cycles. Cycles are separated by Superblocks, each Superblock acts as a deadline when a superblock arrives all proposals will be either passed and funded, just passed or failed, based on their current voting support Voting cycles last approximately 1 month and run consecutively and constantly.

Masternode governance has some problems that we aim to address in Abosom

• Masternode governance is a plutocracy, which means that weighting may not be the most efficient, it also heavily favours early adopters.
• Not everyone can vote, this is less than ideal, once Abosom becomes popular very few people will be able to afford a vote. We are not keen on having, haves and have nots within the community.

Abosom aims to tackle these issues in due time with certain advances in governance and some specific economic incentives.

• Cold staking, We aim to have a DPoS style layer which allows anyone to stake without having expensive equipment, it will work by locking collateral and sharing a signed message with a delegate, the delegates will vote on budget matters on the staker's behalf and earn based on how many votes they get.

• Liquid Delegate, This will be a light masternode with only a small collateral requirement and this node will be incentivised to gather votes, each liquid node will be allowed to link to an IPFS video promotion file to promote themselves.

These changes will allow everyone to be involved and the added incentives structure should help to lower apathy.

Privacy

Privacy is one of the cornerstones of the Abosom Project, However there are obvious compromises that need to be made especially in a project such as Abosom where community or blockchain owned and controlled equity is the priority.

Currently there are no proven and tested on chain privacy protocols that stand out to be implemented in Abosom We will therefore be using a community driven consensus finding process to decide on which privacy protocol to implement on chain.

Prior to this however we will be using on chain obfuscation and also we will have simple TOR integration on our light wallet.

The main reason we value privacy so highly is that privacy is the best non-violent defence against tyranny that we have. Also with our focus on governance it’s hugely important that people can vote in a fungible and discreet manner. Whether you vote, how you vote and when you vote is nobody’s business except your own. This leads to a system that mitigates populism and pressure to conform.

The main candidate for privacy protocol is ZK-Snarks or some other zero knowledge proof based protocol. This amongst other things is because of their inherent resistance to quantum computing.

Community led privacy process

Community led privacy aims to put the decision making for the privacy protocol that Abosom will use into the hands f the community which own and use Abosom. CLP aims to leverage the knowledge and passion of community members in an effort to find the perfect compromise between privacy and usability. This is accepting the assumption that the heavy complex encryption required for strong privacy, leads to a resource hungry network, both in terms of storage bandwidth and processing power. If Abosom has serious plans on becoming a globally used asset-currency hybrid then resource hunger will need to be mitigated at every possible opportunity. This is to address the likelihood of the unbanked having less than optimal laptops and mobile phone handsets.

The process can be loosely defined as follows:

• Initial conference call
• goal is to identify 3 main privacy options and their pro’s and con’s
• writing of competing papers, each describing the protocol and attempting to assess how it will fit into the Abosom economy.
• Second conference call,
• goal is to further assess the main nominees and have their proponents defend them and explain why there are superior to each other.
  Social media consensus. Votes across social media, Voting will take place on discord, telegram and other platforms to assess community sentiment.
  Final conference call -
• Last chance for community members to discuss options leading up to a vote.
  Masternode vote -
  Final vote which will produce provable results of masternode owner consensus, this could be used to implement a chosen privacy protocol.

We are aware that there s a chance that the least popular could be voted in, there also may be conflicting interests between MNO’s especially if a particular protocol gives them higher returns or more power. We will mitigate these issues as we go through the process, with extended dialogue.

No Americans allowed

The Abosom network will not allow U.S. citizens to be owners of it’s tokens. This is somewhat unpolicible statement. However this is a strict policy so as not to upset the American government.

Hopefully Abosom may still be allowed to operate or own assets in the USA, If the do not let us, we will move operations to another country.

This is not a political statement, Abosom is only interested in building, building and more building.

This is a peaceful statement, please reciprocate.

The Shitcoin Roadmap

Abosom and its economic model mean that it should never become a Shitcoin. However if Abosom ever does become a Shitcoin it aims to be a complete and full featured Shitcoin.

Abosom will self fund the development of all of these resources.

1. Explorer,
   Simple Explorer will allow users to query the blockchain check addresses and transactions
   Advanced explorer will also show Abosom owned crypto assets.

2. Mobile wallet
   Simple wallet will allow wallet creation sending, and receiving of ABS tokens.
   Advanced wallet, will allow cold staking, voting and IPFS governance features.

3. Hardware wallet
   We aim to be integrated with ledger and Trezor hardware wallets. This is a safer way to store ABS

4. Forum
   Forums are a good place to store important community interactions, we hope a community member will build and maintain Abosom forum or subreddit.

5. Exchange integrations
   Abosom aims to always be on at least 2 of the top 10 exchanges. We will also invest in a number of smaller exchanges and with the support of our community, help them to grow.

6. Light wallet
   Abosom would be grateful if it’s community members could build a light wallet. This makes simple transactions far more user friendly and could include cold staking and voting at a later date.

7. Privacy
   Not all shitcoins have privacy, but the less shitty ones do. Coinjoin is the bare minimum.

8. Website
   Must have some moving parts
   Must have slogans
   Must have boasts about achievements

9. Governance portal
   Our portal will archive past proposals
   Our portal will allow people to make proposals
   Our portal will monitor all proposals

10. Fiat gateways
    We hope to be integrated into as many fiat gateways as possible and also to won significant portions of some.

11. Merchandise store
    We will create an online store for the sale of Abosom merchandise.

The items on this shit coin roadmap should be complete within 6 months to 1 year of our network launching. However item 5 may not be possible due to the extortionate nature of listing fees.

This list should be used as an important gauge of the projects progress.

The Asset Ownership Roadmap

The key differentiating feature between Abosom and most other crypto currencies will be in the unique push towards asset ownership. Abosom itself aims to own a number of assets for 2 main reasons to allow Abosom holders to get discounts and free gifts and services, but also more importantly to allow Abosom to capture some of that value by using simple Buyback burn techniques.

The asset ownership roadmap should be considered the true Abosom economy roadmap and will build real and compelling use cases that should produce reasons to spend, buy and HODL Abosom.

Here are the checkpoints for the Abosom Asset Ownership Roadmap

1. Payment processor
   Simple plug-in will be needed for online merchants, these should be free, but charge a small fee per transaction. Abosom also would like a stake in a full payment processor business This does not need to be limited to Abosom only, but other crypto currencies also.

2. Exchange
   Interoperability is a key component in all tech, and crypto is no different Abosom should have a stake in a few strong centralised exchanges, as well as having at least decentralised exchange of its own.

3. Fiat gateways
   This would be difficult to pull off in a decentralised way because of all the legal implications, however Abosom does aim to own stakes in leading P2P platforms and could launch a P2P platform of it’s own.

4. P2P lending
   One of the biggest untapped opportunities within crypto is the lending industry. The opportunity for multiple people to easily fund loans in a crowdfunding style could easily lead to rapid growth in developing nations and small to medium sized businesses. There have been efforts to sustain crypto lending platforms but none have survived bureaucracy.

5. Education portal
   Education and blockchain are built for each other, there have been some interesting papers and efforts to build decentralised education. Abosom will invest in and possibly build its own.

6. Itunes (media Store)
   Abosom plans to launch an iTunes style platform or invest in one which will allow anyone to upload their audio and allow people to purchase it, or listen for free with added adverts.

7. Netflix (media store)
   Similar to Audio, Abosom aims to build or invest in a Video library for content creators, this will likely use IPFS or Tahoe Laffs. It will allow anyone to publish and will feature community lead censorship

8. Kick starter
   Abosom aims to build a crowd funding platform. Many of the other points on this roadmap may be funded through this platform.

9. property development
   Investment in property is very lucrative and lends itself well to being funded by Abosom. People will be able to show property, suggest prices and then manage the development.

10. Media Company
    This is the concept case and initial argument for Abosom owning any form of enterprise. If we equate Abosom to a state and consider that a state may own media outlets and organisations. Abosom will be far less nefarious as Abosom does not forbid competition.

Becoming a State

The ultimate goal of Abosom is for it to become a sovereign state, albeit a substate and never a geographically defined state.

This may be achieved via company status initially but eventually Abosom should become a state within its own right. This is a difficult concept to envision during 2018, however lets consider what a state needs to provide to be considered a state,

To protect, to provide, to educate.

Protect.
This is the most simple of all and is easily achieved as a bi product of the other two requirements. However in a future with smaller states, police can be replaced with private security tasked to protect the rule of law and private property. This security can be run on a subscription model and indeed this model already exists.

Protection from international aggression is built in with the lack of geographical area to bind Abosom holders to and their freedom to join and leave he state at their own will. Protection from financial sanctions is also built into the code.

The final and possibly most pressing matter is protection from illness and this is achieved with subsidised healthcare, ran by Abosom owned or part owned medical facilities.

Providing
Providing is a huge part of Abosom's responsibilities as a state. This primarily refers to Abosom's need to build things that individual holders could not achieve alone. And also to give benefits to holders in return for holding and securing a certain amount of the networks value. Though the finer details of this are yet to be worked out, initial versions of these provisions could be manifested as discounts from popular restaurants for holding a set amount of ABS for over 30 days. Or free travel insurance, these things could be funded on the communities behalf by payments from the budget. Moving forward this concept could be applied to travel, healthcare and education depending on Abosom’s stake in various enterprises.

Educate

Abosom as a state will invest in its citizens regardless of how long they plan on being citizens. Ownership of schools and educational courses may allow Abosom holders cheaper rates or free education. Abosom blockchain itself may also have a built in education system one day complete with syllabus and on chain certifications. 

The overarching philosophy behind Abosom as a state is giving humans access to certain things providing they meet a simple criteria of holding a certain amount. This value can be secretly shared but access to someone’s ABS is equivalent to access to someone's bank account, this will hugely mitigate the sharing of held ABS. But we must as ourselves, is mitigating this a good thing at all?

Citizenship by ownership and equity for income may give birth to a caste system and we must be vigilant that we do not make this a reality.

The Economics

Abosom will be unlike most other blockchains which prioritise giving block rewards to miners, instead Abosom will use a proof of stake consensus which only gives a small percentage of block reward to stakers, this is because the majority of block reward will go toward the budget which will be the main source of Abosom funding.

The block reward split will be as follows,

70% Budget
15% Masternodes
10% Proof of stakeholders
5% Cold Staking

Abosom aims to be generally low-inflation model with the bulk of the newly minted tokens going towards the budget.

Annually there will be roughly 5 Million new tokens added to the supply, assuming budget is maxedout each month. This means the monthly budget will be somewhere in the region of 294K ABS.

Masternodes will share between them 63,000 ABS annually and we expect t have around 1000 running at any point.

Infinite Max Supply

While Bitcoin has a max supply of 21 million, Abosom has no max supply instead it is limited by usage and income. Remembering that Abosom funded projects and Abosom owned equity will repay the network by buying and burning profits, this burnage will lead to a lower supply. Also as inflation from new coins remains constant, this number of 5 million will be trending towards 0% of the total coin supply.

We anticipate this concept very difficult to comprehend.

Burning of profits will not lead to dangerously low amounts of available ABS, because these newly burnt coins would have been purchased on the open market and thus would push up the price of Abosom meaning that less tokens would be needed to create the same BTC amount of value.

This profit sharing method does open itself up to burnage front running, which would be the practice of pre-buying ABS,months or years ahead of time when burnage should occur in anticipation of prices rising, this would allow a project to complete their burnage commitments with ABS to spare. The spare ABS could then be seen as private profit, not owned by the network or owed to it.

Beware of imitations
PGP keys

PGP keys are used to prove that a person made a statement, and to be sure that only a person can decrypt any messages that you may wish to send them, As Abosom is a blockchain only and wants no link to any human being less he/she be persecuted by the incumbents, Abosom and whoever wrote this white paper has no need for PGP keys. Important messages will be placed on Steemit and referenced directly on the Abosom blockchain, however when Abosom reaches maturity, do not expect to have ANY communication from the writers of this document, the developers of the genesis state or any other humans you may deem responsible for conceiving Abosom.
Please beware of any human claiming to be Zenyatta. Zenyatta will never reveal themselves.

The Abosom steemit account is called Abosom and this document is the first of a few posts that will be placed there.