Martti Malmi on Nostr: Member crowdfunding of costs is an interesting approach. The system is not subject to ...
Member crowdfunding of costs is an interesting approach. The system is not subject to insurance regulation even if it's a company.
Instead of claims being binarily rejected or accepted, everyone gets to vote with their wallet. There's less friction when everyone gets to go by their own decision. Also there's no treasury that can be lost or stolen.
In a bitcoin system, the crowdfunding could be done somewhat anonymously using coinjoins or lightning.
I guess there's tradeoffs as well. More participation is required of members. Getting reimbursed might be less certain, or maybe participants would feel less cohesion when there's no common treasury at stake.
Prediction markets are very interesting for some purposes, but you might not want to reveal your personal insurance claim to the public, or to a random selection of judges like the protocols usually require. Also it may prove challenging to get Nostr folks onto Ethereum smart contracts 😄
Instead of claims being binarily rejected or accepted, everyone gets to vote with their wallet. There's less friction when everyone gets to go by their own decision. Also there's no treasury that can be lost or stolen.
In a bitcoin system, the crowdfunding could be done somewhat anonymously using coinjoins or lightning.
I guess there's tradeoffs as well. More participation is required of members. Getting reimbursed might be less certain, or maybe participants would feel less cohesion when there's no common treasury at stake.
Prediction markets are very interesting for some purposes, but you might not want to reveal your personal insurance claim to the public, or to a random selection of judges like the protocols usually require. Also it may prove challenging to get Nostr folks onto Ethereum smart contracts 😄