Please find below the
Proposal: BitTrade: Fair and Inexpensive Cap and Trade with the Blockchain (w/Dividends)
Contest: U.S. Carbon Price
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The focus on the transaction space for markets is an interesting concept. However, Bitcoin, the model they propose to emulate, has had some problems -- including hacking and theft -- and has been substantially devalued over the past several years from an earlier peak. Notwithstanding this, the idea of a ledger of this sort seems attractive. However, the method for allocating shares is not clearly articulated -- if, as implied, it is one share per person this could lead to abrupt economic dislocations as assets are rapidly redistributed. Also, rate of reduction is not specified -- which in theory implicates value of shares.
The idea of using blockchain technology seems to be new (though as author points out, a proposal to use this feature was also in "Sno-Caps"). The notion of allocation could benefit from being better defined.
The impact will vary as a function of allocation and stringency, which could both benefit from being elaborated upon. The idea of using computer code for verification seems plausible - though compliance still seems potentially suspect. Inasmuch as compliance is a potential problem for countries without functioning markets, this could have a real impact.
The idea of blockchain is interesting, but overall the proposal could benefit from being more clearly framed.
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