Creating a regional currency using Ethereum Smart Contracts

[Zocra]

I have been considering developing my own in-game regional currency that will be deployed on an off-site exchange.
Would this be acceptable? No NationStates accnts or directly NS-related assets will be tradable.

Read more about creating your own (crypto)currency: https://www.ethereum.org/token

[The Blaatschapen]

Maybe.

While you say that those things will not be tradeable, how will you enforce it?

[Zocra]

Maybe.

While you say that those things will not be tradeable, how will you enforce it?

Initial dispersal of the currency (or 'tokens') will be under my control. Through Ethereum I can manage most of the currency's behavior. As trading of the currency will be restricted to the site exchange (still working on the specifics) and tradable items will be largely predefined—its use will be controllable.

[The Blaatschapen]

Maybe.

While you say that those things will not be tradeable, how will you enforce it?

Initial dispersal of the currency (or 'tokens') will be under my control. Through Ethereum I can manage most of the currency's behavior. As trading of the currency will be restricted to the site exchange (still working on the specifics) and tradable items will be largely predefined—its use will be controllable.

So it is mostly offsite? What part of the currency would be onsite? Promotion, discussion, rmb posts?

One important question, will you earn real money with this exchange? Or will any of these tokens be tradeable for rl money?

[Zocra]

Initial dispersal of the currency (or 'tokens') will be under my control. Through Ethereum I can manage most of the currency's behavior. As trading of the currency will be restricted to the site exchange (still working on the specifics) and tradable items will be largely predefined—its use will be controllable.

So it is mostly offsite? What part of the currency would be onsite? Promotion, discussion, rmb posts?

One important question, will you earn real money with this exchange? Or will any of these tokens be tradeable for rl money?

Acceptance and Deployment of currency would be entirely offsite. I will make the tokens non-redeemable for fiat (USD,GBP,EURO, etc.) exchange and only for RPG purposes. Ehthereum allows currencies (operating as contracts) to act like loyalty points or other non-fiat-exchangeable currencies.

[The Blaatschapen]

Given that there is real money involved, my ruling is no.

viewtopic.php?p=26360304#p26360304

Second opinion can be requested here.

[Frisbeeteria]

Ehthereum allows currencies (operating as contracts) to act like loyalty points or other non-fiat-exchangeable currencies.

Second opinion can be requested here.

I've been reading along, but content to let Blaat take the lead on this one. Regardless, I've had doubts about it since the original post. The comparison to loyalty points made it a certainty. I concur with The Blaatschapen that this should not be a part of our game.

[Zocra]

Given that there is real money involved, my ruling is no.

viewtopic.php?p=26360304#p26360304

Second opinion can be requested here.

Thank you for your input, however, I did not stress the following as much as I should have. The currency will be in basic terms a virtual asset not redeemable for real-world currency. This I would ensure. Issuance of the token would be controlled by me. The concept for the exchange is still in development, but I will prevent non-permissable items from being exchanged by controlling the POS.

Potential items would be RPG-specific and would not include accounts, NS Store items, etc. For instance, one nation could use the currency on the marketplace (entirely off-site) to trade for munitions or land.

I suppose my question should be, what would be the requirements to have an off-site exchange with currency?

[Blitzkeig]

Given that there is real money involved, my ruling is no.

viewtopic.php?p=26360304#p26360304

Second opinion can be requested here.

Thank you for your input, however, I did not stress the following as much as I should have. The currency will be in basic terms a virtual asset not redeemable for real-world currency. This I would ensure. Issuance of the token would be controlled by me. The concept for the exchange is still in development, but I will prevent non-permissable items from being exchanged by controlling the POS.

Potential items would be RPG-specific and would not include accounts, NS Store items, etc. For instance, one nation could use the currency on the marketplace (entirely off-site) to trade for munitions or land.

I suppose my question should be, what would be the requirements to have an off-site exchange with currency?

If I may, this has been done before.
The united group had a system almost exact to this, as I think at one point (though I may be wrong) did grand central at one point. If these are banned it might be worth its own entry in the osrs.

[The Blaatschapen]

Thank you for your input, however, I did not stress the following as much as I should have. The currency will be in basic terms a virtual asset not redeemable for real-world currency. This I would ensure. Issuance of the token would be controlled by me. The concept for the exchange is still in development, but I will prevent non-permissable items from being exchanged by controlling the POS.

Potential items would be RPG-specific and would not include accounts, NS Store items, etc. For instance, one nation could use the currency on the marketplace (entirely off-site) to trade for munitions or land.

I suppose my question should be, what would be the requirements to have an off-site exchange with currency?

If I may, this has been done before.
The united group had a system almost exact to this, as I think at one point (though I may be wrong) did grand central at one point. If these are banned it might be worth its own entry in the osrs.

I know that 10KI has tacos. And I know, and I don't bat an eye about it.

The issue here is involvement of real world currency. And the commercialism ruleset has just been quoted about what is allowed.

[Blitzkeig]

If I may, this has been done before.
The united group had a system almost exact to this, as I think at one point (though I may be wrong) did grand central at one point. If these are banned it might be worth its own entry in the osrs.

I know that 10KI has tacos. And I know, and I don't bat an eye about it.

The issue here is involvement of real world currency. And the commercialism ruleset has just been quoted about what is allowed.

Just an aside, is this even moderation's remit? If it takes place offsite, if it isn't advertised on site, wouldn't it be just similar to linking to a shop?

[Greater Cesnica]

I have been considering developing my own in-game regional currency that will be deployed on an off-site exchange.
Would this be acceptable? No NationStates accnts or directly NS-related assets will be tradable.

Read more about creating your own (crypto)currency: https://www.ethereum.org/token

I have a better idea. What about a stock market, implemented within Nationstates? It would certainly make the game much more interactive and enjoyable. Your nation can choose any one of a large pool of real-life currencies.

[Blitzkeig]

I have been considering developing my own in-game regional currency that will be deployed on an off-site exchange.
Would this be acceptable? No NationStates accnts or directly NS-related assets will be tradable.

Read more about creating your own (crypto)currency: https://www.ethereum.org/token

I have a better idea. What about a stock market, implemented within Nationstates? It would certainly make the game much more interactive and enjoyable. Your nation can choose any one of a large pool of real-life currencies.

Reminds me of the nationstates IPO we had a few april fools days ago, it was fun.

[Greater Cesnica]

I have a better idea. What about a stock market, implemented within Nationstates? It would certainly make the game much more interactive and enjoyable. Your nation can choose any one of a large pool of real-life currencies.

Reminds me of the nationstates IPO we had a few april fools days ago, it was fun.

But imagine an actual functioning stock market, with your main industries serving as commodities.

[Grenartia]

If I may, this has been done before.
The united group had a system almost exact to this, as I think at one point (though I may be wrong) did grand central at one point. If these are banned it might be worth its own entry in the osrs.

I know that 10KI has tacos. And I know, and I don't bat an eye about it.

The issue here is involvement of real world currency. And the commercialism ruleset has just been quoted about what is allowed.

Perhaps I missed something, but I haven't seen any involvement of real-world currency in the proposal. Its not like I can take this RP money and pay my real-world rent with it or anything.

[The Blaatschapen]

I know that 10KI has tacos. And I know, and I don't bat an eye about it.

The issue here is involvement of real world currency. And the commercialism ruleset has just been quoted about what is allowed.

Perhaps I missed something, but I haven't seen any involvement of real-world currency in the proposal. Its not like I can take this RP money and pay my real-world rent with it or anything.

You missed something. The tokens are bought with RL money. Now get out of this thread, it's not a discussion.

[Blitzkeig]

Perhaps I missed something, but I haven't seen any involvement of real-world currency in the proposal. Its not like I can take this RP money and pay my real-world rent with it or anything.

You missed something. The tokens are bought with RL money. Now get out of this thread, it's not a discussion.

he said right at the start that no rl assets would be tradeable.

[Twilight Imperium]

Perhaps I missed something, but I haven't seen any involvement of real-world currency in the proposal. Its not like I can take this RP money and pay my real-world rent with it or anything.

You missed something. The tokens are bought with RL money. Now get out of this thread, it's not a discussion.

No they're not? I mean this is just the crypto equivalent of getting a roll of raffle tickets - they don't represent anything in and of themselves. It's open-source even? They're not any more exchangeable with RL money than any other random thing.

[The Blaatschapen]

Ah, I see that my reading was a bit off

How does one acquire these tokens? (op reply needed here)

[Blitzkeig]

Ah, I see that my reading was a bit off

How does one acquire these tokens? (op reply needed here)

OP provided a link which explains it all. You create a supply of these tokens and deal them out to each person, and people can trade them for stuff.

[The Blaatschapen]

Ah, I see that my reading was a bit off

How does one acquire these tokens? (op reply needed here)

OP provided a link which explains it all. You create a supply of these tokens and deal them out to each person, and people can trade them for stuff.

That does not explain the prerogative on which the op decides to hand out the tokens.

It is that I fucked up a little bit, or I'd have warned for spamming Moderation here.

Now onto the actual ruling, since the op seems to not have replied

It is legal, provided that the acquisition of tokens by players does abides by the commercial rules quoted earlier (eg. No purchasing tokens with RL money).

This could have been dealt easier if it was not called a crypto currency, since it is clearly not. That brings a whole lot of ideas which are not applicable here after all.

I lock since a ruling is given.