I was laying in bed thinking about PieDAO.
My thoughts started racing beyond cryptocurrencies and I started thinking about the reification of existing indexes, for example the S&P 500.
There is no way to exchange to stocks and nor should there be any misrepresentation. I am no lawyer either, but hear me out.
Why could PieDAO not create custom indexes, say 33.333 gold, 33.333 silver, 33.333 platinum and use like Ktico as the oracle and even partner with such oracles?
Why could PieDAO not create a commodities index say Agriculture Index that tracks like RJA? Talking soybean to lean pork to corn? I think it makes crypto more interesting.
The price would need to track and use the live time as oracle.
Could do steel, lumber (ie 1/2 CDX, 3/4 AC plywood), could get specific to specie(s) (ie SPF, spruce pine fir, Douglas Fir, etc) and even rebar like #4 rebar (i e 20 foot lengths). Could use a specific oracle, be it “Random Lengths” or a specified market indicator.
S&P 500 is the price (if S&P 500). That’s it. Nothing more.
Doesn’t just have to be cryptocurrencies, but could be PieDAOs of just crypto.
Imagine the job creation and buzz around all of this. Imagine spinning heads of wall street. Would be a good thing as it moves into reification of existing markets.
Good idea or bad?
I think with crypto and indexing it is whatever the market will bear, but with specific assets or commodities - that is the price, make sense?
Could do Blue Fin Tuna, King Crab, and Sockeye Salmon index…on and on and on. Maybe these “tokens” could be exchanged for actual bartering and create free market economics. Say “tokens” in exchange for delivered to your door King Salmon, or beef packages (hamburger, T bones, ribeye, etc). It introduces a new mechanism of exchange with potential for partners.
I was laying in bed thinking about PieDAO.
A fisherman’s cooperative or individual fisherman may be interested in getting a PieDAO “token” of say Bitcoin, Dogecoin, and Kusama, or “coinmarketcap top 100”, in exchange for $100 of salmon or shrimp delivered to your door. Dealing with market prices and some freight…would need details worked out, but I offer concept only.
I don’t think my idea of incorporating a market and commodity asset classes - including PieDAO of commodities, like blue gill tuna or crab is too far off base as world markets, including fishermen are scrambling to find new markets
“The seafood industry has been upended by the spread of the coronavirus, which has halted sales in restaurants and sent fishermen and dealers scrambling for new markets.”
So blockchain and PieDAO could solve a problem while other markets are struggling because of economic stand still and the failure known as “Globalism”.
Just jumped down the rabbit hole with you on this. My mind is just now trying to cypher. I’v read all of your comments and I’m going to geek for the evening. My mind is now looking at the actual logistics of your thoughts and how the supply chain logistics could be incorporated to help these struggling markets find its way to consumers through the PieDAO. Still haven’t completely wrapped my head around this but your thoughts have intrigued me into learning more. I’ll be following.
RG3 if you are interested in supply chain logistics, consider this one I did. Though I don’t think this is exactly relevant to PieDAO, but it is for supply chain logistics. I’ve already given the example of how tokenization could enter existing commodity markets, examples were given like BLUE FIN TUNA, or KING CRAB. The article I linked is addressing pain points in the marketplace, and now fishermen are literally looking at “boat to table”. If they want a market they can chase after it. They can thumb their nose at crypto or can accept it. It’s a business decision. But in terms of marketplace, and oraclized prices (as I have detailed prior) there is a market of exchange subject to market price. That is key.
In terms of supply chain logistics, I’ve gone into great detail with some prior use cases for supply chain logistics - as documented here: https://github.com/btcmacroecon/INCOTERMS-Dashboard/commit/c7c83b865ac4f6e8744cd50fc54614afbbe83bfd
Again, this is probably off subject of PieDAO however, but thought you may be interested in your geeking to consider INCOCHAIN. Never really gained any momentum and spent way too much time trying. So I go with my interest in pioneering.