"scan national banknotes" - what?!
I'd love to know more about the mining process! Sounds crazy for sure.
Yes, it is definitely crazy. We think it is one the interesting ways to efficiently distribute new coins fairly. Anyone who has access to cash can "exchange" them for new coins. The way it works involves an individual taking a photo of a supported banknote using a compatible mobile application and then they send it to the network for processing. It gets validated through a two-phase validation scheme -- First phase will have network nodes analyse and try to determine whether or not the banknote is obviously invalid (it won't accept photos of cats
). The second phase is crowd-powered; People manually verify banknotes that have gone through the first phase successfully. They send their validation decision for a banknote and add a stake which will be forfeited if they fail to validate "correctly". Correctness is determined by whatever the majority of validators say about a banknote. Users who failed to validate correctly lose their stake and the winning majority shares losers' stakes. This
article talks about it more.
The leaderless organization perspective is great, not sure how it would apply to version control, which in itself can be quite leaderless and decentralized(read git).
Yes, git is quite decentralized. But the issue is with remote git repositories. Most of us depend on Github to manage our repositories and to provide tools to help us interact with it. We could easily bundle our git updates/objects and transfer them by email/USB without Github but that is not very user friendly. What we are interested in is decentralizing the hosting of git repositories and providing tools for people to build leaderless organizations around them. A leaderless organization for example can be a decentralized Uber alternative where communities democratically decide what goes in the repositories, where and how the service is deployed/hosted and accessed. If the organization generates revenue, the contributors will collectively decide how to allocate or spend it. We are working on a blog post that will have more information.
Nice announcement.
I wish you the best of luck!
Thank you
