Tayyab - d/acc
@tayyab
Hot take (maybe): No currency or financial system will succeed at scale without a meaningful wealth redistribution mechanism. Capital has increasing returns. In an opt-in monetary society, people will not choose to hold or purchase a currency that does not have some way to counteract this.
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Zach
@zd
What does “a meaningful wealth redistribution mechanism” look like to you?
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Tayyab - d/acc
@tayyab
There are many forms out there today. Taxation being the most obvious. Islam has a concept called Zakat which is a religious obligation to donate 2.5% of your wealth per year to the poor. How we implement is a hard question, because most forms of redistribution can be gamed. Small example, Worldcoin distributes a higher proportion of new tokens to wallets with less funds.
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