BOScoin Congress System — Video
BOScoin: Decentralized Cryptocurrency for Trust Contracts
Meet Dave,
Dave wants to create a new kind of apartment complex with space that is efficient and cheap.
In his local neighbourhood, he draws up plans for his apartment concept and everyone loves it. It will be great for the community.
Later, he logs onto a BOScoin blockchain powered website and submits his budget and plans.
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BOScoin is a blockchain like payments solution Bitcoin is, but transactions are taxed and go into a treasury for funding awesome projects like Daves. And the treasury account grows with blockchain activity.
Computers validating the network to keep it decentralized and honest, vote on proposals like Dave’s. In some instances they can even lose money for not voting. So, everyone who needs to votes pretty often.
Dave’s building concept gets enough yes votes and money from the treasury is sent to Dave’s BOScoin wallet.
However, the next day a bill introduced in City hall that would raise property registration costs for buildings like Dave’s.
Dave uses an app that leverages BOSCoin technology so that constituents in his area can vote on new bills. Dave votes the new bill down to protect his new building. Votes are recorded on the blockchain and are tamper-proof.
Government officials can see how their constuents would vote, and decide to vote down the proposed bill that would raise Dave’s costs.
Dave is happy to announce that people can start sending deposits to secure their apartments when constriction completes. User send funds to his smart contract on BOScoin to securely reserve their spots.
Then Dave has an idea. He knows the way the BOScoin blockchain works and that if he keeps money in his wallet and freezes it for 2 weeks or longer he earns interest. But he wants to change the architecture so that savers can earn more.
He goes back to his computer and submits a proposal to change the blockchain rules themselves.
BOScoin nodes can vote on a blockchain rule change. They do. And now more BOScoin is issued to savers as Dave proposed.
BOScoin, bringing democracy to project funding and the underlying blockchain technology itself that enables the magic.