Daniel Larimer, the founder of BitShares, has introduced MUXER – a mutual aid society based on the blockchain technology.
Larimer announced the launch of MUXER in his blog on 31 December, describing the project as “a social network of giving”.
This social network is supposed to be a cluster of societies organised according to the type of risk. As an example, Larimer gives the idea of a cannabis society, helping people sued for keeping cannabis. Another society may help people prosecuted for violating copyright laws. You can become a member of any society you like, donate money and receive help when needed.
The general idea is that of mitigating “low probability, high cost risks”. Many people over the world circumvent copyright laws, but few get punished for it. By donating a small amount of money you secure yourself financial aid in case you get into such an unlucky situation yourself.
The author specifically notes that he personally might not agree with the ideas promoted in this or that society within MUXER, but such a society may still peacefully exist. Societies are created by the participants involved, not solely by Larimer.
Besides such controversial issues as drug keeping and sharing copyrighted products, some other concepts are introduced that seem to be accepted on a broader scale. Larimer speaks about the possibility of a Human Rights society that would give assistance to the members whose human rights are violated, and a “Samaritan” society supporting any member who needs help regardless of the cause.
The project introduces the concept of karma that qualifies a user to receive benefits from a society and vote for or against other members’ requests. Karma depends on the amount and frequency of the member’s donations.
MUXER will be powered by BitShares blockchain, securing that all donations are given according to the peer-to-peer principle. BitShares is a financial smart contract platform, providing decentralised exchange and claiming that it can handle the trading volume of Nasdaq. BitShare issues its own cryptocurrency (BTS) which will be used in the MUXER project.
Andrew Levich
