Description du projet
Le plafonnement revient pour réorganiser les premières émissions de jetons
Les premières émissions de jetons (ICO pour «Initial coin offerings») sont des jetons de crypto-monnaie de la chaîne de bloc. Similaires aux modèles de financement participatif, elles facilitent la collecte de fonds en faisant appel au grand public, offrent un partage équitable des bénéfices et induisent un contrôle décentralisé. Cependant, comme les rendements des ICO ne sont pas limités, il y a une incitation à maximiser les profits et à centraliser les chaînes de bloc. Le projet Regenerative ICOs, financé par l’UE, étudiera la notion de plafonnement des ICO. Cela devrait permettre de conserver les vertus de la collecte de fonds et du partage des bénéfices des ICO, mais de supprimer l’incitation à maximiser les profits tout en rétablissant un contrôle décentralisé durable.
Objectif
The economic incentive structures of an organisation strongly influences their governance models & power distribution, sometimes to the extent that attempts at decentralising governance fail, if they are built on centralising economic incentives.
Traditional forms of equity investing offer uncapped returns to shareholders that create strong incentives for profit maximisation and centralisation of power.
Initial Coin Offerings (ICOs) on the blockchain were designed to allow organisations to raise funding from their community and bring a greater distribution of economic gains and governance power to organisations stakeholders. However, since tokens issued through ICOs are also offering uncapped returns, current blockchain networks have become even more centralised.
There are investor reward models in traditional forms of investing that cap stakeholder profits and through that remove the incentives for profit maximisation, like (Platform) Cooperatives and Steward Ownership companies. They have shown to bring greater distribution of economic gains and governance power.
However those organisations struggle to raise (early stage) funding in the traditional financial market a Consumer investors conscious about the damaging effects of investing in uncapped public equity have challenges investing in such organisations. This is because capped investor profit models have only been implemented in the existing legal systems with significant bureaucratic hurdles, similar to traditional startup investing up until the advent of ICOs in the late 2010s.
This proof-of-concept helps organisations to run Initial Coin Offerings with capped investor profit models so they can raise funding from a diverse set of supporters, while avoiding mission drift and profit maximisation incentives. It enables more economic decentralisation, transparency and accountability, from which decentralised organisational governance can be developed and maintained in a more sustainable way.
Champ scientifique (EuroSciVoc)
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CORDIS classe les projets avec EuroSciVoc, une taxonomie multilingue des domaines scientifiques, grâce à un processus semi-automatique basé sur des techniques TLN. Voir: https://op.europa.eu/en/web/eu-vocabularies/euroscivoc.
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Programme(s)
- HORIZON.1.1 - European Research Council (ERC) Main Programme
Appel à propositions
(s’ouvre dans une nouvelle fenêtre) ERC-2022-POC1
Voir d’autres projets de cet appelRégime de financement
HORIZON-ERC-POC - HORIZON ERC Proof of Concept GrantsInstitution d’accueil
75794 Paris
France