I have an idea but I don’t know how to make it happen nor if it’s truly a good idea. Looking for feedback.

I am envisioning a community fund for short term loans to /success members. A person would submit a proposal for a loan with terms and then a group would vote yes/no on dispersing them. 

The person receiving the funds would then pay back the funds based on the terms set in their proposal. If the funds weren’t paid back, no future loans could be taken. Size of loans could be based on previous loans paid back. 

So I guess it would almost function like a DAO but with some LETS (local exchange trading system) functionality. 

It obviously wouldn’t be a profit generating venture but I think it would be an awesome way to showcase the power or crypto and community at the same time. 

What do y’all think of this idea?

I’ve thought a lot about this kind of economy in the crypto space, and honestly? I think it’s impossible. Social capital is a way to assess? Maybe, but giving up social capital for money and showing up with a different name, another face, and “living in another country” is very easy in our field.