@cipherchan Thank you very much for going through the article, I really do, and I'm sorry to make you feel that way. I can assure you that the article are my thoughts, not those of AI, but I agree my writing isn't the best.
I'll try to address some of the questions that you have.
u mean like subscription based model?
Yes, but not like you think it is. It's better to think of it like a liquidity pool where you stake your money conceptually. To become a member to a society, people will have to subscribe to it. These membership fees aren't owned by anyone they're are managed by smart contracts.
The goal of these funds are to provision loans to people for crucial things that get society going. E.g. buying a house, starting a business, innovation, you name it. The criteria of becoming eligible for a loan will be decided by the community and predefined in a smart contract.
When people claim a loan to buy a house for example, the community will buy the house for him. How that looks like is up to the community and not the problem the protocol is trying to solve.
He will then rent the house and gradually earn ownership through fractionalized real estate and tokenization. Yes you read that right... people own as they rent.
Rent isn't paid to a specific person, it is paid to the society. This creates a snowball effect of funds raised, and available in the society. As more people buy a house for example, more people are paying back their loans and more people are able to acquire a house, because the loan paid back is more than the membership fee.
Ideally this protocol should be implemented with a cryptocurrency like monero that has deflationary properties. Because as society grows, and more loans are paid back, less money will be in circulation. Which will raise the value of the currency, and attract investors, which will further raise it's value for everyone that holds the currency.
I do recognize that it is a little hard to take at first, and that it is still very much an abstract idea. But I believe it is definitely applicable using nostr and smart contracts on a permissioned blockchain. Having monero as a wrapped token.
I'm working on a flowchart that will make it more clear and tangible.
Hopefully I've addressed some of your questions. If I did maybe you're interested in rereading the article having that in the back of your mind.
Believe me, I'm just as anti government as you are. The entire purpose of the protocol is to get rid of politicians.
If you have more questions, please let me know.
