The Government Blockchain Association (GBA) is a global non-profit organization comprised of thousands of government and private sector professionals dedicated to the improvement of government operations using blockchain technology. The organization is planning to launch a token that will be awarded to GBA members, contributors, and leaders for the benefits they bring to the community. Tokens will be awarded for leading chapters, publishing articles, delivering presentations and other activities that bring value to the GBA Ecosystem.
1 billion GBA Tokens will be created using the ERC-20 Token Protocol and 10,000 released via Smart Contract each month to a GBA Token Distribution Smart Contract. This Smart Contract will release the 10,000 GBA Tokens each month for a total of ten years.
The smart contract distributes tokens to GBA members based on the number of votes they have received that month. Votes result from the contributions they have made to the GBA community. Each GBA member is awarded up to five Votes per day. They can use these Votes to endorse other GBA members for their contributions. The following are examples of how Votes can be used:
- A GBA member posts a blog or an article on the GBA site, and if readers appreciate it, they can use one of their Votes to endorse the author.
- A GBA Chapter Leader facilitates a great event with informative and dynamic speakers, and GBA members can use their Votes to endorse the Chapter Leader, speakers, or anyone who contributed to the success of the event.
- Members of a GBA Working Group who appreciate the hard work of their working group leaders can allocate their Votes to those leaders.
- GBA members who appreciate the volunteer contributions of a member can use their Votes to endorse the hard work of their peer.
Vote Management – Each GBA member is issued up to five GBA Votes per day. The maximum number of Votes that can be maintained in a GBA Wallet is five. So, if they are not used in a day, no more than five Votes can accumulate over time. The total number of Votes that can be awarded to an individual is one. A person cannot cast a vote for themselves.
GBA Tokens – A smart contract converts Votes to GBA Tokens. Each month, the Smart Contract converts all votes on the GBA website to GBA Tokens and distributes the tokens to the GBA Wallet Address. The distribution is made by adding up the total number of votes and dividing the votes by the monthly distribution (10,000). The Smart Contract distributes the GBA Tokens and destroys the Votes.
GBA members can also flag inappropriate content, resulting in admin review. If the content is removed, the flaggers are rewarded with the average number of votes received per person during the next monthly distribution.
The GBA Tokens may be used to pay for GBA renewals, training, conferences, participation on special projects or individual members may use them in exchange for products and services within the GBA Ecosystem. Othe GBA Working Groups may also use the GBA Tokens as a utility function in future systems or applications built by GBA members.
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