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- Oct 2021
A common good (CG) process begins with an initiator proposing the production of a common good. Then, during the predefined lifetime of the process, funders who care about this common good may pledge funds for its production, being reassured that their money will only be used retroactively, had the common good been eventually produced — no risk taken. Executors who wish to produce the common good may do so, being reassured that they will be compensated by the pledged funds had they been successful. And profit-seeking investors may buy a portion of the potential reward from executors (in the form of per-executor tokens that are made redeemable against the future reward had they been successful), and by that provide them with liquid funding for operation. Finally, if and when executors achieve the desired outcome, as decreed by a predefined judge, the pledged funds are released as a reward to the successful executors and the investors who bought their tokens. If no success has been reached after some predefined limit of time, the funds go back to the funders who provided them. Executors and investors only see profit, and funders only spend it, if and only when the common good is produced.
A trustless conditional reward model for production of common goods.