Bioregional Blockchain

Description

A proposal from the Permacommons:

Refi.Sicilia:

"The bioregion blockchain will power the smart contracts and financial transactions that make up the DABs (the Decentralized Autonomous Bioregion).

Financial functions include

- Credit Unions - Savings and Loans - Insurance - Associations - Stock Exchanges - Merchant Banks

With the emergence of decentralized finance on the Ethereum blockchain and broader Web3 ecosystem, the marginal cost for running an internal banking system falls to near zero. More importantly, the composability of de-fi, meaning the ways in which you can create a contract, and how that contract interacts with other accounts in the ecosystem is synergistic with second order positive network effects. An example would be price futures on citrus harvest that would be plugged into multiple oracles tracking the supply and demand of oranges. Another interested funding model is the CSA or community supported agriculture, whereby consumers purchase shares in the years harvest ahead of time. The money raised goes to the farm to purchase materials and pay for labor to bring in the harvest. This creates a local economy and financial security for farmers. Adapting a CSA into a NFT sale would be ideal. To purchase the land, and to manage the collective stewardship of each Bioregion, a bioregional office housed in the initiating ecovillage runs a blockchain node/validator. The objective to doing it this way is that each bioregion has a forkable template to bootstrap an office and ecovillage off the bat. Once an ecovillage reaches 500 inhabitants, a new blockchain can be forked, and another ecovillage is created.

Using the new innovation of Interblockchain Communications, all of these forked blockchains can be communicating in a verifiable way.

For example, using the Cosmos Stargate, anyone can verify the ownership of a file, in this case it could be the title of ownership of some piece of land, or timestamp a certificate."