This document continues to change. The most recent version is at https://docs.google.com/document/d/1WDCPiBg93TIIVavDcSOzq7J5Elij3V2eayrR5aNUb3s/

The original text is below this line.

The Earth Change Vending Machine (ECVM) is a mint, a printing-press and a secure vault.

The ECVM sells Coins to buy Land, then prints and stores the legal documents required to fund, build and govern User-owned supply-chains.

1. You may buy Coins to play "number go up".

2. You may sign a Contract to earn Tickets.

3. You may fulfill a Contract to earn Deeds.

4. You may hold Deeds to govern production.

5. You may sell surplus for Profit.

6. Every User must receive Deeds.

To more carefully reason about value, we first partition all real world assets (RWAs) into 4 Value Types: {Money, Good, Work, Land}.

1. Money - A reference to value.  Money is not value!

2. Good - The finished OUTPUTS of production.

3. Work - The human INPUTS of production.

4. Land - The earthly INPUTS of production.

To gain legal authority over these RWAs, we then define 1 legally-binding Value Token: {Coin, Ticket, Contract, Deed} for each Value Type.

1. Coin - A Money with a circulating_supply set by the square_meters of Land held under these terms. (fungible)

2. Ticket - A unique claim on a specific "kind of" future Good. (non-fungible)

3. Contract - A commitment to fulfill a specific "kind of" future Work. (non-fungible)

4. Deed - A proof of a specific "kind of" Land ownership. (non-fungible)

• When you trade Work for Land, your monetary wage is 0.

• When you own Land (as Deeds) to own your home, the rent you pay is 0.

• When you own Land (as Deeds) and 'own' the future Work of others (as Contract signatures), you own those future Goods without purchase, so the profit you pay is 0.

• The ECVM asks for the size and price of Land for sale.

• The ECVM mints 1 Coin for each square-meter of Land.

• The ECVM sells those Coins to buy that Land.

• The ECVM asks for the future Goods you want.

• The ECVM mints 1 Ticket for each future Good.

• The ECVM asks for the Work required to fulfill those Tickets.

• The ECVM mints 1 Contract for each "kind of" (specialized) Work.

• The ECVM asks for the Land required to fulfill those Tickets.

• The ECVM mints 1 Deed for each "kind of" (specialized) Land.

• The ECVM vests ️️Deeds to those who fulfill Contracts.

  • The “kind of” Tickets you hold determine the "kind of" Deeds you earn.

    • If you hold Bread Tickets, you earn Farm, Mill and Bakery Deeds.

• Select Tickets to vote on which future Goods are produced.

• Schedule Contracts to modify a shared Calendar to vote when Goods are produced.

• Allocate Deeds to modify a shared Map to vote where Goods are produced.

• Join Deeds to make groups and groups of groups, recursively to scale in size.

• Fork Deeds to divide Land (secede from any grouping) to localize control.

• Like Bitcoin, Coins have no redeemable value, do not represent property ownership, bestow no rights of governance, and imply no financial return.

• Each Ticket is backed by the Deeds (Land) and Contracts (Work) required for fulfillment.

  • A Ticket is only valid when all Deeds are ALLOCATED and all Contracts are SIGNED.

• Each Ticket has a unique time-window and conditions under when it may be redeemed.

  • A Tomato Ticket may mature in just a few months, while an Avocado Ticket may not be redeemed until many years after the seed was planted.

• You may sell future Goods (Tickets) or finished Goods (surplus) for Money.

  • These customers must receive (a tiny amount of) the same "kind of" Land (as Deeds) which fulfilled that production.

  • Customers receive UNALLOCATED and UNVESTED Deeds.

  • This can be done by dedicating some % of profit

  • This ensures all Users gain the physical Sources of Production as Land ownership.

• The ECVM cannot sell Goods for Money because the ECVM never owns any Goods.

  • While the ECVM holds Land temporarily, as it slowly vests to Users.  The Goods produced on that Land belong to Ticket holders who either:

1. Signed a Contract for a Basic Outcome.

2. Bought Tickets to redeem for Product.

3. Bought Tickets to redeem for Profit.

• You may participate in the Yearly Basic Outcome Auction, but it is not required.

• To begin a Basic Outcome Auction, the ECVM asks this Group of Groups for the minimum list of essential Goods they want produced over the next Year.

• The ECVM mints 1 Ticket for each requested Good.

  • The ECVM mints 1 Contract for each kind of required Work.

  • The ECVM mints 1 Deed for each kind of required Land.

• The total_time is the hours required to fulfill all Contracts.

• The time_per_User is total_time "divided by" the number_of_Contracts.

• All Contracts are offered at this initial time_per_User commitment.

• After 24 hours, the time_per_User is reduced for all unsigned Contracts.

  • These Contracts require a smaller time commitment while still receiving the same Basic Outcome.

  • This "spreads out" that task by requiring at least 1 other person in that group-of-groups to sign a (maybe part-time) Contract for that "kind of" Work.

• Any Contracts left unsigned after the entire Coin Auction Sequence has ended, must be outsourced or insourced, else that Land cannot be occupied and production cannot begin.

• Any Contract you sign must have a trade-connection with the Users who signed the Contracts used to fulfill the Tickets you hold.

  • This should always be true for Contracts within a Basic Outcome Auction.

• The "kind of" Deeds you earn are based on the "kind of" Tickets you hold, and have nothing to do with the "kind of" Contracts you complete.

  • If you hold Tickets for Milk and Honey, you earn Deeds for Cattle and Bees, even as you fulfill a Contract for Plumbing.

• The amount of Land you earn in exchange the amount of Work you do (your Land/Work earnings ratio) is based on:

  • The market price of the Land you select, divided-by the market price of the Work you complete. BUGBUG: This is partly wrong since the market prices of Land and Work are both partly wrong.

  • Your Land/Work earnings ratio must decrease as your Land holdings increase to ensure all “late” Users have a chance to own some amount of Land.

• You may hold Land (as Deeds), and the future Work of others (as Contract signatures) to own and govern the production of future Goods (as Tickets).

• You may sell Land (as Deeds) for Money.

• The ECVM cannot sell Land or Deeds for Money.