Backfeed and Labor-value Token. An Economic Model for Blockchain Decentralized Cooperatives

Backfeed and Ecofintech Coop’s Labor-value Token have in common being social operating systems for decentralized organizations

 

Some time ago we designed Labor-value Token (LABOR) for an open value accounting utility that allow us to account work and loans given for starting up Ecofintech Decentralized Cooperative. We found the Backfeed Protocol in the same symphony that our designs, a model for cooperative enterprises to bootstrap without need of initial funds, only willingness, work and collaboration.

The Labor-value notes offers a way to mint mutual credit currency and to deploy a cooperative DAO governance structure based on the labor contribution and reputation (carework, LOVE tokens). The natural evolution of the decentralized cooperative creates an a effect in the emitted tokens that moves them along three market development phases, the initial equity phase, a later commodity phase, and hopefully a final and resilient phase in the form of real digital currency.

We share here the Backfeed Protocol Economic Model essay that explains very clearly this mechanism. Backfeed project is actually discontinued and their authors continued the idea under the DAOstack project, and operating system for collective intelligence. In our design, we improved some aspects adding concepts from DisCO model, and our own Vote Weighting Holistic Protocol.

Backfeed Economic Model (download pdf)

 

 

Labor-value token github website