About

This is a very special blog post, it has no relationship whatsoever with any kind of technology, but may have far more consequences in your daily life than blockchains. The title has been designed to grab your attention, which worked in your case, as you’re reading these lines.

The concept of debtchains

A debtchain is a chain of dues and duties, carrying pieces of goodwill, in a way that will prevent it from cyber-attacks, as it doesn’t need a computer to run.

Unlike blockchain, debtchain forks are highly recommended, and guarantee the integrity of the system. No sybil attacks can defeat it, as giving is a process orders of magnitude more rewarding than receiving.

Conditions for starting up a debtchain

Hopefully, at some time of your life, you will find yourself comfortable, financially speaking.

Then someone from your friend or family circles will be in need of money, and will ask you for some cash. He or she may be someone you trust, but it more a life-changer if it is someone you barely know, for both the person receiving and giving.

Consider the risk of putting you in a difficult situation without the requested amount. If it doesn’t harm your personal finance, then give the money to this person, with the following message:

I just lent you some money. This means that you are in debt towards me. But I don’t want this money back from you, as I don’t need it. However, in exchange I will turn your financial debt into a moral one. What does it mean? At some point of your life, you will financially succeed, and face a similar situation, but putting yourself in my shoes in front of a person who needs help. You will then be able to pay your debt to me, by lending money to this person, putting him or her in moral debt to you, with the duty of delivering the very same message.

Implementation details

  • Bootstrapping a debtchain is easy: make the receiver read this article, then “start small” to get used to the process. It works better with many people and small debts, than with a big debt to a single person. Warning, starting too fast may lead up to unexpected levels of emotions, and tears.

  • To validate a block of goodwill in the debtchain, a hug is the preferred method, but a handshake will do fine, too. Avoid written agreements, as they tend to dry out humanity from the chain.

  • Avoid whenever possible to create “loops”, i.e involving the same person twice in a chain, as a sender and a receiver, as it may alter the level of selflessness of the goodwill blocks.

  • There is currently no formula, algorithm or whatever involved if the amounts calculation, and will never be. The only rule to follow, as strictly as a postulate, is “make sure lending doesn’t put you at risk”.

  • The main difference between blockchain and debtchain is that it doesn’t protect from double-spending. But it doesn’t matter: surprisingly, due to the giving/receiving pleasure ratio, double-spending tend to be fairly common, and enhance the system’s integrity.

  • Use of “sidechains” and transaction fees are allowed, even recommended. Their funding is left to the sole responsibility of the lender, who should send the money to his/her favorite charitable association.

  • On the latter point, If you’ve liked this reading and want to please its author, please choose one association linked to Parkinson’s Disease, such as Parkinson’s Disease Foundation or France Parkinson.

Merry Christmas and best wishes.



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Published

24 December 2016

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