Just about this hour I had shaped a really brilliant idea:
The following way we can give the power of democracy to the court system and reward people (and organizations) for their good works.
Consider a set of wallets and a set of “courts” both denoted by an Ethereum address. We can combine a wallet and a court into a new address.
A decision of a court may be endorsed or not endorsed by somebody. We endorse good decisions and don’t endorse things like the patent for a wheel in Australia.
We also should create some kind of a directed graph of courts, so that a decision of one court could be automatically endorsed by another one. To confirm a transaction one needs to provide a path in the graph of courts. Very simple.
The thing that a court can do is to add an arbitrary amount of money (a COURT or LAW or REWARD or JUSTICE token) to somebody’s wallet.
We could also want courts to subtract (fine), but it’s impossible because the money could be transferred to a secret account to avoid paying a fine. Also selective fining would create inequality among cheaters, and it seems that most of the population of the world are cheaters, so such selective fining would create inequality in the world. So, in my opinion, this system should only reward and never fine.
Now I want to pay a sum of crypto like $100 billion to Linus Torvalds and or his organization Linux Foundation for their work, I want to pay to myself for my math discoveries, etc.
It seems possible to do, just need to develop an Ethereum smart contract. I need to find time for this free of my “main” job.
Any support or money or advice is appreciated! I am going to write more on this topic.
As a protective measure against a court by mistake or deliberately allocating a septillion dollars to somebody, we could also limit the maximum summary amount of transfers endorsed for a certain court (this amount could be regularly, for example, yearly updated).
We probably should have a double mapping: not only account number but also a token code, to enable multiple tokens in one smart contract for this “court” system.
I was advised to use aragon daos. I didn’t know about Aragon before, so this idea needs to be studied more.
Another usage of this “court system” is to create courts which would give some quantity of crypto to everybody in the world. I earlier had this idea here, but that was a wrong way to do it. Now I know the right way (see above). So we have at least three practical usages: rewards for good works, compensation for losses (be it discrimination, tsunami, whatever), and distributing crypto to everybody.