From 21f26e9a5619e517d129c90fb94fb4df441cdc49 Mon Sep 17 00:00:00 2001 From: Daniel Larimer Date: Wed, 23 Dec 2015 20:28:52 -0500 Subject: [PATCH] Create BSIP - 0009 - Benefit Society.md --- bsip-0009-Benefit-Society.md | 57 ++++++++++++++++++++++++++++++++++++ 1 file changed, 57 insertions(+) create mode 100644 bsip-0009-Benefit-Society.md diff --git a/bsip-0009-Benefit-Society.md b/bsip-0009-Benefit-Society.md new file mode 100644 index 0000000..0f167ab --- /dev/null +++ b/bsip-0009-Benefit-Society.md @@ -0,0 +1,57 @@ +Benefit Society on a Blockchain +------------------------------- + +This improvement would allow individuals to form benefit societies on a blockchain. + +A benefit society, fraternal benefit society or fraternal benefit order is a society, +an organization or a voluntary association formed to provide mutual aid, benefit, +for instance insurance for relief from sundry difficulties. + +The premise of this feature is to be an organizational tool for groups of individuals +working toward a common cause. The benefit of implementing this on a blockchain is to +enable the formation of of benefit societies that may be difficult or impossible to +operate in the traditional manner. + +This feature would not change any existing behavior on the BitShares blockchain and would +only add new operations. + +New Operations +-------------- + +*Create Society* - This operation is similar to create asset. It defines a new society including +a name, description, and any configurable parameters. + +*Join Society* - This operation ties an existing BitShares account to a particular society and +defines any relevant information associated with society membership. This information may include +the user's real name, age, location, etc. + +*Commit Funds to Society* - This operation will transfer BTS from an account to a society membership. +It may be performed by any account. 1% of the BTS transferred will be paid to the BTS reserve pool, +2% of the BTS transfered will be allocated to the referral program, and 2% of the BTS transferred will be +used to buy back a Fee Backed Asset dedicated to this feature. The society membership will earn Karma within +the society proportional to the BTS contributed. + +*Request Payout from Soceity* - This operation will create a payout request. A payout request includes Karma from +the membership account requesting the payout and requires permission of the membership owner. The request includes a +subject, summary, and detailed description explaining the justification. + +*Update Payout Request* - This operation can be used to update mutable properties of an existing payout request. + +*Approve or Reject Payout Request* - This operation is used to vote for or against paying out a particular request. +Each member of a society can vote with a weight equal to the amount of karma the account has earned. + +*Update Membership Info* - This operation is used to update mutable membership information such as nominating +a proxy to vote on your behalf. This is designed to simplify the amount of voting the average member must worry about. + +*Fund Payout Request* - This operation will transfer BTS held in the membership account reserve to an approved payout request. + + +Maitenance Operations +--------------------- +The following actions will be performed on a daily basis during a mainteanance interval block. + +1. Tally all relevant votes +2. Update management account authority for each society +3. Update management account authority for the fee backed asset +4. Decay all Karma by the configured percentage +