RE: CharityCurator Progress Report | #7 | What's been going on?
Many thanks for these thoughts. "What is value?" is a truly fundamental question. Chris Burniske offers a monetary approach in an article on medium, which is definitely worthwhile reading: https://medium.com/@cburniske/cryptoasset-valuations-ac83479ffca7
It helped us a lot, to understand how value of a token and the logic of the underlying economy are (de)coupled. Chris for example stresses the importance of a low velocity for a high token value. Vulgo: make it sticky and its valuable. This essentially says, there has to be a reason to keep the token, be it savings, curation rights or what so ever. A marketplace such as @dstors is an excellent vehicle to achieve this, just like the investment opportunities @oracle-d has introduced.
@charitycurator mentions a real important point, Chris didn't really catch: "What is the value being produced on the Steem platform?" As long as there is an external FIAT-market you have an easy point of referal.
But as soon as you produce intangible value such as "social impact" or "something good for society" or "beautiful pictures" different rules come into the game. The validation takes place within the token economy through curation by the user. We think, this makes it essential that there are agreed-on procedures for up- and down-voting - just like there are agreed-on procedures by the Guide Michelin to validate the quality of a meal.
We'll make a suggestion soon how this may be done in impact-scenarios and are already looking forward to discussions with economists, environentalists, social scientists and who else is active here on Steem. A discussion on value-creation could be an important step itself to enhance the future value of the Steem-token.
Hi Impactn,
You are welcome. Value can be seen as anything helping another individual. We forget that this is the sole purpose of business. Even though we are not a business as such, we are trying to bring value to others with the aim of getting some of that value back.
Ofcourse, then another token could easily take it's place!
That's the whole reason money was created so that value could have a monetary number, unfortunately the banks are dictating those numbers now as they continue to print more and more money. You're right. something such as 'social impact' or even loving one another has no measurable value, that's why they aren't shared around as much :(
There perhaps need to be some rules for curation. Given that we are talking about STEEM having financial issues, maybe 70% goes to the author, 25% to the curator and 5% goes to Steemit? This is fair in my eyes.
Best,
@charitycurator
Actually, we plan to go one step further and give 'social impact' a measurable value by creating a 'social impact' token. Making 'social impact' tangible would help align financial goals and impact goals.
Concerning your proposal:I think 5-10% for Steemit Inc. would definitely be fair. We have been doing calculations for our own business and think 10% for the whole technical background (Dapp, nodes, blockchain updates, storage...) should be the minimum. Token only seem to come out of thin air. :-)
That sounds great, I hope you can figure that out!
Sounds fantastic!
That's very interesting. Given the conversation, which it seems to me is about sustainability, how would the social impact token be financed?
We're also interested in rewarding engagement and participation, as well as social impact ... would a social impact token be able to encompass that?
Great question.
A social impact token would be used to reward engagement and participation in a bifold way:
I'm not quite sure, what you mean by 'financing' the social impact token. The challenge we see, is making the token valuable. This will be dealt with by making it something desirable, as a means of payment, as a symbol for being part of something meaningful, by giving you voting rights. Our ideas could be decribed as Steem-plus - the plus being a value-based framework which replaces purely subjective curation by impact-oriented curation-mechanisms.
That's the challenge with all tokens, what ACTUALLY makes them valuable as opposed to just throwing a monetary value on them.