Economics

November 25, 2015

The guild will be able to manage project budgets via multi-signature cryptocurrency wallets. For example, if the organization has 9 code reviewers, a 5 of 9 multisig Bitcoin wallet could be created, and a majority of the reviewers would need to sign off on any payments. To continue the example, a developer could submit a pull request in response to a bounty. If 5 of the 9 reviewers agree that the pull request is satisfactory, the payment will be made.

Non-coding roles such as testers, project managers, and code reviewers can be defined in the charter, and the individuals rewarded according to the fulfilment of their responsibilities.

While the specific jobs and their value should be determined on a case-by-case basis, the theoretical idea is that some small and manageable amount of value will be awarded to anyone performing quality, peer-reviewed, open source work. Specific jobs will be created on the network, similar to Dash’s Masternodes, which will be responsible for this peer-review. Other specialized tasks such as editing and documentation can be similarly counted, reviewed, and rewarded.

To the extent all of this activity is documented in peer-reviewable commits, the contributors will all be rewarded with the Bitcoins held in escrow.

The peer-review model will incentivize higher quality of work for guild contracts, as well as a highly meritocratic arbitration body. Theoretically, this peer-review model and Git Guild could be used in any profession that can track their work through Git or a similarly digitized and signed mechanism.

If a client wants to sponsor specific enhancements or bug fixes to the project, the funding would be deposited into the guild’s treasury via a P2SH bitcoin address. From then on, the guild will manage the funds and execution of the task.

No venture capitalists, incorporation, or contact with meatspace is required.