Is this not an opportunity to disrupt subsistence wage service?
Consider there are 800K workers not being paid, and approximately one million affected contractors. Since salaries and contracts are mostly public, a chain ledger could issue prudent coin credits upon demand. Participating workers could microtransact for basic food and shelter. I realize this sounds like Wilbur Ross' "get a loan" idea, but this has complete transparency, zero friction and the obvious gravitas of blockchain pedigree.
Given the captive worker pool, the "proof of work" problem in traditional crypto coins can be solved---not by wasting power on hashing, but organically given the ability to document compulsory "essential services" (currently for no pay) by government workers. I.e., the government documents the "proof of work", first indirectly through FOIA and later through crafted transparency legislation to facilitate this scheme. This way, we could actualize the liquidity demand of unpaid workers.
Yes, this sounds novel, perhaps even dystopian. But tech has always innovated new ways to "harvest people"---first labor itself (eg "task rabbit" plays), then any prospect of raises, benefits, or wage mobility (uber), non-dischargeable educational debt (fake universities and state mandated licensing), and now the very payment of subsistence wages itself.
Technology can always "speed the harvest".
I might try to register eatca.ke (someone will take my money regardless), and zhuzh up a pitch deck.
Consider there are 800K workers not being paid, and approximately one million affected contractors. Since salaries and contracts are mostly public, a chain ledger could issue prudent coin credits upon demand. Participating workers could microtransact for basic food and shelter. I realize this sounds like Wilbur Ross' "get a loan" idea, but this has complete transparency, zero friction and the obvious gravitas of blockchain pedigree.
Given the captive worker pool, the "proof of work" problem in traditional crypto coins can be solved---not by wasting power on hashing, but organically given the ability to document compulsory "essential services" (currently for no pay) by government workers. I.e., the government documents the "proof of work", first indirectly through FOIA and later through crafted transparency legislation to facilitate this scheme. This way, we could actualize the liquidity demand of unpaid workers.
Yes, this sounds novel, perhaps even dystopian. But tech has always innovated new ways to "harvest people"---first labor itself (eg "task rabbit" plays), then any prospect of raises, benefits, or wage mobility (uber), non-dischargeable educational debt (fake universities and state mandated licensing), and now the very payment of subsistence wages itself.
Technology can always "speed the harvest".
I might try to register eatca.ke (someone will take my money regardless), and zhuzh up a pitch deck.