LibreCoin or LibreShares: A new share distribution model for corporations

igualada_-_railhome_bcn_-_17

LibreCoin or LibreShare Model

Another funding model I was thinking of that you guys might be interested in is crypto-currency, based on funding success of alternative blockchain apps such as MaidSafe which raised on the order of millions of dollars numerous times before even having a product.

The idea is LibreCoin a special coin possibly based on NXTCoin, which is distributed by a project to users and developers for things like testing, bug reports, bug fixes and feature additions. These could then either be traded on open market like a normal cryptocurrency, or they could be exchanged via the project which distributes the coins. So for instance if there are a total of a 100 coins, and the project coinFund has 10 dollars, then someone that withdraws 10 coins, will get 1 dollar. However now there are 9 dollars left in the coin fund, so next person to withdraw ten coins will get 90 cents.
However if people buy coins (in order to pledge them towards bug fixes or feature requests), or make donations to the coinFund, the value of the coin goes up as well.

—————————————————

Thanks for the submission. We will keep working to get Snowdrift.coop functional as soon as we can. I agree that your project seems a potentially good fit. I’m skeptical of the cryptocoin world myself, but we’ll see. LibreCoin is an interesting idea. Have you heard about GNU Taler and FairCoin?

——————————————————

Both GNU Taler and FairCoin seem interesting certainly.

I am equally sceptical of the cryptocoin world myself, mined a few anoncoins once but mostly just to explore what all the fuss was about.

I’ve done some research regarding corporations, and know they can make a variety of different kinds of shares. Typically corporations only benefit once from these shares, when they sell them, and afterwards they are a burden (simply paying dividens and delegating votes). With these LibreCoins or LibreShares, the idea would be that any project or corporation could manage their shares as more of a currency to buy products and services from the project/corporation. People could of course also buy them in fiat to an online store, but the prices could be based on share price.

I guess I should back-peddle a little at what problem I noticed that I wished to solve with this. The problem was/is that certain companies hire their own developers to work on libreware projects, so that they could get the features they want out of that project. Wheras there are plenty of people that want features, but don’t have the money to hire a developer to add them, and simply berating a developer doesn’t do much good.

For a more specific example, putting a bounty-system into bugzilla, or getting Firefox to natively support WebCl. These are things that weren’t put into Firefox/Bugzilla because they wanted to dedicate their resources elsewhere, kinda like what happened with Firefox OS Phones, but if people (like me) were able to put money on those bugs, towards paying the required developers or employees, then maybe someone would go about integrating it or adding it.

So LibreCoin/LibreShare is an idea for how the average open source project can have support for self-hosted bounty payment system, without having to put a lot of money down, or working with complicated PayPal/proprietary escrow accounts. Most cryptocurrencies nowadays like FairCoin are worth fractions of a penny. So libreware projects could distribute LibreShares to people that contribute to their project, which even if redeemable for a penny each would be a good deal better than some other cryptocurrencies. And of course other than redeeming recievers of shares can use them to reinvest into the project or buy products from the project, such as t-shrits, mugs, hard-copies of manuals etc.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s