First, you can now give anyone in the world performance rewards based on specific criteria. Imagine the Mayor of a city, they get their base salary but they also get a bonus package that basket of tokens representing the inverse unemployment rate, the city happiness score, and the inverse crime rate in their city. The better results they create for their city, the more their tokens are worth.
The ability to create an incentive pool, one that can be freely tapped into by anyone, that pays them for pursuing the goal of the pool? That concept is one of the most revolutionary things I’ve seen in crypto. I want to see this concept in action as soon as possible, deployed by the BAO community for the benefit of the BAO community.
So the idea is this: Lead by example, and show the world what we are building is good by virtue of overwhelming success. Create several baskets that each represent a different aspect of BAO succeeding; Good press; healthy economy; positive growth; etc etc. Deploy these baskets and allow anyone to ‘buy in’, thus incentivizing them to work in favor of BAO.
Reading the following examples will help you understand what I mean, and allow you to come up with some ideas of your own. Please note that these are ideas in their most basic form, and they can be improved quite easily.
The Good Press Index: This basket tracks the mentions of BAO across the entire internet. The mentions are paired with whatever metrics are available to determine if the comment is good, or bad. Good comments = higher value. Bad press = lower value.
The Healthy BAO Index: This basket would track the number of BAO holders and what they’re doing with their BAO. The more people actively using BAO, the higher the value. This would be paired with the metrics for ‘behaving intelligently’, a set of parameters that basically boil down to ‘Is this person using BAO in such a way that they are prospering?’ The more people who are prospering using BAO, the higher the value. If people are not prospering, lower value.
The BAO Work Index: This basket tracks the number of people actively employing themselves through the BAO baskets. The value goes up in relation to the number of new people who start using the service, how long people use the baskets, how prosperous people who use the baskets are, and all the other various metrics that mean that the program is succeeding.
Those are three very basic examples of how we as a community can show the world how BAO works. I feel very strongly that we cannot wait for someone else to come along and understand what needs to be done. We, as a community, are the ones who will be proving if BAO is a good system or not.
That is all I can say intelligently about this subject. I can’t tell anyone how to code this, or about the financial mechanics of how it should work. I invite you to fill in the blanks on this concept, and highlight what you liked. If there is a glaring error, please point it out and propose a solution.