Futarchy 2.0 - funding government initiatives with bets

(jjackson) #1

I am still very excited about Futarchy (https://blog.ethereum.org/2014/08/21/introduction-futarchy/ is a good introduction). In short it is a government system where people vote on values (say high literacy rate is good) but bet on actions and measures to be taken. The system described by Vitalik is fairly complex, but one could think of a variety of systems. The general idea is though, that people who are good at predicting outcomes, and good at coming up with effective measures, gain money while those that predict wrongly loose money and are driven out of the market.
In my view the biggest problem seems to be, that people like the tobacco industry are willing to pay a few thousand dollars to make sure a government policy that benefits them a few millions.
Soooo, is there a way to have it so that those bets on government actions finance the actual action being undertaken?

(Chad Elwartowski) #2

Not so much betting as votes financing the action being voted on:

(jjackson) #3

very interesting. But it doesnt get rid of the freerider problem. There needs to be some way to elegantly pay those who support the policy for their effort