Taxation over Litigable Protocol
Please imagine an island.🏝
They are using Plasma wallet for daily life.👛
NFC background tag reading based 0-conf payment is quite normal experience for them.💨 The currency would be DAI.dai.icon
So, how can the government gather tax from them in order to achieve welfare of the island?💸
Look, the operator of this Plasma is to be the central bank of this island nation. (Or if any, it can be arbitrary corporation as long as tax agency is able to achieve taxation from that entity.)
The operator is able to decide fee rate at will.
Higher tax for higher amount tx? It's okay.
As this payment method is penerated in the market of this island, and no cash is used here so, without KYC, all merchandising is to be taxed.
Aaaand, these people can save his wealth on that wallet because it is Plasma, fund safety is fully guaranteed.
Furthermore, those people is able to restore private key because this is litigable Plasma. If they mistakenly send their fund to wrong address, the operator is able to withdraw that fund after a few weeks, and is able to pay back to sender. If you wonder why it is possible, check Litigable Protocols. What if the government got to be crazy?
Entire Litigable Protocol is to be open source
Make new one, with same configration, but without the nutty goverment.
All people choose to use that Plasma
✨✨✨ Democratic Migration ✨✨✨
How they would change tax rate?
Sorry I'm pondering about that process. It's possible but governance matter.
Well, help me.
Conclusion: Plasma enables very tiny goverment
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