Pursuant to my discussion with @alexthims, I would like to put together a team to write a template for a smart contract or an application for the automatic payment of taxes and other reoccurring real life responsibilities associated with Parcel 0 and other properties. The scope of work shall include development of any associated primitives that would allow for the automatic payment of a real world liability associated with CityDAO automatically via the Blockchain. The contract(s) should be as easily duplicatable as possible so that they become a tool for future citydao parcels to automate, streamline and decentralize operations and manual administrative tasks as much as possible.
I am requesting $20,000 to bounty to developers at the standard DAO rate for development and management listed in the Development guild in CIP-69. I am also requesting an additional $30,000 be allocated for similar purposes only to be released for a specific purpose upon the approval of the planning guild (assuming CIP-69 passes).
If you are interested in the project, please contact me, and of course please hit that like button. cc: @andrewlreeve @DenverCitizen9 @Tuncay
How much time / what is the time for a human to pay the Parcel 0 taxes? Over the lifetime of the Parcel, if this amount is less than $50k this is not worth pursuing.
Also, “reoccurring real life responsibilities associated with Parcel 0” is vague. Can you elaborate on what these are?
From an engineering and design perspective, the problems that are being solved need to be clearly defined at the onset (now). Otherwise something gets built that doesn’t solve the problem and requires ongoing development and funding.
I get where you’re coming from wanting to automate as much of these processes as possible, but I struggle to imagine any scenario where a human can’t do it for cheaper. Not to mention software rot and resulting maintenance over the lifetime of the code.
Are we here to hire people to push paper or to build cool things that can be duplicated and used in other DAOs and the real world. Of course we could pay a bookkeeper $500 to file this every year if it was about the work.
I was vague on purpose because I don’t think it should be limited to just that one use case if we can figure out something else we can bridge the gap on.
Most definitely missing some steps in here. I imagine someone else is working on something similar too, does anyone know who that might be?
I know I could get access to the API info if we made the right relationships. In fact, it could be a public record.
I think the idea is to make this a “tool” that can be easily used for future parcels and potentially made available to the greater crypto community.
I’m fully in support, there are still barriers to using crypto for real world banking and this is one that needs solving.
In generally, there isn’t a good decentralized off ramp to USD (that I’m aware of). Another big primitive that is needed is USDC to ACH payment. For use for paying bills, individual or corporate.
I kept my balance sheet in USDC at https://duchamps.io/, so I am practically familiar with crypto-banking for SMBs (to provide a definition, let’s say balance sheets under $10m).
Technically, this requires centralized-services, such as the crypto off-ramp, ACH service, and the oracle’s data ingestion pipeline. There’s no getting around these.
As such, I would decentralize access-controls to these services rather than attempting to move the business logic on-chain.
For off-ramping, for example, using a Coinbase business account with multi-factor authentication siloed amongst multiple parties that share an anti-collusion incentive, along with an immutable audit log.
yep fair distinction, I think the point still stands though that decentralized access-controls to the services don’t exist. Unless you know of projects I don’t (which is very possible).
Would be cool to see on an experimental parcel. If it is built ready to scale to any parcel or category of parcel, and the parameters for the taxes can be changed and voted on, it would give a incentive to have parcels generate income to support the DAO. Would this create a financial liability to parcel NFT owners, or would the tax be taken out in a way so that NFT owner accounts are undisturbed?