Viewing a response to: @kevinwong/do-you-understand-blockmason-s-credit-protocol
Blockmason would allow us to prove that two parties agreed to a (monetary) transaction and what that transaction was. This is much like a cohabitation agreement between a couple. The difference is ... for a cohabitation (AKA pre-nuptual) in Canada or US, you typically have to pay a lawyer $1000 to notarize that the two individuals did knowingly enter this agreement together. On the blockchain, using blockmason, the agreement is drafted and if both parties agree to accept, then it is notarized by the blockchain. If the receiving party fails to repay the debt, there's still no method of enforcing the agreement, unless they go so far as putting some form of cryptocurrency in trust as collateral.
| author | gikitiki |
|---|---|
| permlink | re-kevinwong-do-you-understand-blockmason-s-credit-protocol-20171029t030114396z |
| category | asksteem |
| json_metadata | {"tags":["asksteem"],"app":"steemit/0.1"} |
| created | 2017-10-29 03:01:15 |
| last_update | 2017-10-29 03:01:15 |
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| last_payout | 2017-11-05 03:01:15 |
| cashout_time | 1969-12-31 23:59:59 |
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|---|---|---|---|---|---|
| kevinwong | 0 | 486,270,811,698 | 11% | ||
| razvanelulmarin | 0 | 40,241,149,637 | 45% | ||
| godo | 0 | 369,731,096 | 100% | ||
| cryptochindian | 0 | 5,073,878,155 | 100% | ||
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| todaycoini | 0 | 69,633,860 | 100% | ||
| everdayfood | 0 | 69,633,860 | 100% | ||
| foodnet | 0 | 69,633,860 | 100% |
I don't think it will work. We don't even have identities of the people getting into agreement. And as you said, how do you enforce this agreement? Lots of questions with no answers
| author | shreyasgune |
|---|---|
| permlink | re-gikitiki-re-kevinwong-do-you-understand-blockmason-s-credit-protocol-20171029t033135582z |
| category | asksteem |
| json_metadata | {"tags":["asksteem"],"app":"steemit/0.1"} |
| created | 2017-10-29 03:31:39 |
| last_update | 2017-10-29 03:31:39 |
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| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| gikitiki | 0 | 2,222,695,740 | 10% |
In a way, it is already working as influence tokens. Taking a look at @bellyrub's creator @zeartul  I can loan @zeartul my SDB or steem in the form of influence tokens. He/she can then use those tokens to upvote people and try to earn more curation/author rewards than he/she agreed to pay me back. Currently, we do it as a "gentlemans's agreement". However, using something like Blockmason to automate it would take all risk out of it. I would be guaranteed to get my tokens back plus the agreed upon "interest"
| author | gikitiki |
|---|---|
| permlink | re-shreyasgune-re-gikitiki-re-kevinwong-do-you-understand-blockmason-s-credit-protocol-20171029t035527464z |
| category | asksteem |
| json_metadata | {"tags":["asksteem"],"users":["bellyrub","zeartul"],"image":["https://steemitimages.com/DQmQKSsiPJvmYsUHamFiV99FdrhPjAQDtc8dAangaSt9uHk/image.png"],"app":"steemit/0.1"} |
| created | 2017-10-29 03:55:27 |
| last_update | 2017-10-29 03:55:27 |
| depth | 3 |
| children | 4 |
| last_payout | 2017-11-05 03:55:27 |
| cashout_time | 1969-12-31 23:59:59 |
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| root_title | Offline |
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| post_id | 18,839,297 |
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Agreed, so what happens if lets say you don't pay back the SBD that was borrowed, how will you enforce some sort of punishment; how are you guaranteed to get your tokens back?
| author | cryptochindian |
|---|---|
| permlink | re-gikitiki-re-shreyasgune-re-gikitiki-re-kevinwong-do-you-understand-blockmason-s-credit-protocol-20171029t092404979z |
| category | asksteem |
| json_metadata | {"tags":["asksteem"],"app":"steemit/0.1"} |
| created | 2017-10-29 09:24:12 |
| last_update | 2017-10-29 09:24:54 |
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| root_title | Offline |
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| post_id | 18,858,152 |
| net_rshares | 2,370,875,456 |
| author_curate_reward | "" |
| voter | weight | wgt% | rshares | pct | time |
|---|---|---|---|---|---|
| gikitiki | 0 | 2,370,875,456 | 10% |
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