Once it’s established that you will be giving $100M a year to buy impact certificates, that will motivate lots of people already doing good to mint impact certificates, and probably also motivate lots of people to do good (so that they can mint the certificate and later get money for it)
By buying the certificate rather than paying the person who did the good, you enable flexibility—the person who did the good can sell the certificate to speculators and get money immediately rather than waiting for your judgment. Then the speculators can sell it back and forth to each other as new evidence comes in about the impact of the original act, and the conversations the speculators have about your predicted evaluation can then help you actually make the evaluation, thanks to e.g. facts and evidence the speculators uncover. So it saves you effort as well.
I might see this as a creating bounty program for altruistic successes, while at the same time creating a “thick” market for bounties that is crowd sourced, hopefully with virtuous effects.
Once it’s established that you will be giving $100M a year to buy impact certificates, that will motivate lots of people already doing good to mint impact certificates, and probably also motivate lots of people to do good (so that they can mint the certificate and later get money for it)
By buying the certificate rather than paying the person who did the good, you enable flexibility—the person who did the good can sell the certificate to speculators and get money immediately rather than waiting for your judgment. Then the speculators can sell it back and forth to each other as new evidence comes in about the impact of the original act, and the conversations the speculators have about your predicted evaluation can then help you actually make the evaluation, thanks to e.g. facts and evidence the speculators uncover. So it saves you effort as well.
Ok, I see what you’re saying now.
I might see this as a creating bounty program for altruistic successes, while at the same time creating a “thick” market for bounties that is crowd sourced, hopefully with virtuous effects.
Thats a succinct way of putting it, nice!