58 lines
3 KiB
Markdown
58 lines
3 KiB
Markdown
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Benefit Society on a Blockchain
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This improvement would allow individuals to form benefit societies on a blockchain.
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A benefit society, fraternal benefit society or fraternal benefit order is a society,
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an organization or a voluntary association formed to provide mutual aid, benefit,
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for instance insurance for relief from sundry difficulties.
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The premise of this feature is to be an organizational tool for groups of individuals
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working toward a common cause. The benefit of implementing this on a blockchain is to
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enable the formation of of benefit societies that may be difficult or impossible to
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operate in the traditional manner.
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This feature would not change any existing behavior on the BitShares blockchain and would
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only add new operations.
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New Operations
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*Create Society* - This operation is similar to create asset. It defines a new society including
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a name, description, and any configurable parameters.
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*Join Society* - This operation ties an existing BitShares account to a particular society and
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defines any relevant information associated with society membership. This information may include
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the user's real name, age, location, etc.
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*Commit Funds to Society* - This operation will transfer BTS from an account to a society membership.
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It may be performed by any account. 1% of the BTS transferred will be paid to the BTS reserve pool,
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2% of the BTS transfered will be allocated to the referral program, and 2% of the BTS transferred will be
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used to buy back a Fee Backed Asset dedicated to this feature. The society membership will earn Karma within
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the society proportional to the BTS contributed.
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*Request Payout from Soceity* - This operation will create a payout request. A payout request includes Karma from
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the membership account requesting the payout and requires permission of the membership owner. The request includes a
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subject, summary, and detailed description explaining the justification.
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*Update Payout Request* - This operation can be used to update mutable properties of an existing payout request.
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*Approve or Reject Payout Request* - This operation is used to vote for or against paying out a particular request.
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Each member of a society can vote with a weight equal to the amount of karma the account has earned.
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*Update Membership Info* - This operation is used to update mutable membership information such as nominating
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a proxy to vote on your behalf. This is designed to simplify the amount of voting the average member must worry about.
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*Fund Payout Request* - This operation will transfer BTS held in the membership account reserve to an approved payout request.
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Maitenance Operations
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---------------------
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The following actions will be performed on a daily basis during a mainteanance interval block.
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1. Tally all relevant votes
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2. Update management account authority for each society
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3. Update management account authority for the fee backed asset
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4. Decay all Karma by the configured percentage
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