Imagine a world wherequiet existence is the norm. A world where your right to aquiet existence is virtually guaranteed by instant financial disincentives to those whose behaviour exceeds acceptable social parameters. These parameters vary by time of day, day of week or location and are self-regulating.
Financial disincentives are levied instantly by smart contracts to those who partake in behaviour ‘outside the norm’ and then automatically redistributed to impacted parties as payments for loss of quiet existencebased on a proximity algorithm.
Decibel.LIVE, a DAO (Decentralised Autonomous Organisation) using blockchain technology acts as a bridge between parties to develop and monitor systems and behaviour.
Using the smart contract functionality of Ethereum, Decibel.LIVE will receive signals from geographically disperse noise monitoring equipment and interpret this data in real-time. and process financial transactions between interested parties.
A practical example of how the system could work is for the developer of an upmarket apartment complex that wants to provide prospective buyers with an assurance the apartment complex will provide aquiet existence.
The apartment developer builds the complex with sound monitors in each apartment. These sound monitors are internet of things (IOT) enabled and send continuous live decibel readings back to the blockchain. These sound readings are compared back to predetermined parameters, and if deemed excessive by the tolerance algorithm, the smart contract is activated which charges the apartment owners account. An equal and opposite amount (less a small royalty % paid to Decibel.LIVE) is then credited to the accounts of other apartment owners based on a sliding scale proximity algorithm. Thus, although thequiet existence of nearby apartment owners is negatively impacted by the actions of the offending apartment owner, they are compensated for their loss of quiet existencebased on the formula below:
(Delta – R) x Proximity Factor (P)
Payments are made in “dB’s” – a new ethereum digital currency (dB is the symbol for decibels). Each apartment owner is required to hold a minimum of x units of dB currency at any one time. If they have been levied with a fee they will be required to top up their account at the current ETH/dB rate.
Acme Company wants to build a manufacturing plant near the edge of a major city. The local public authority (i.e. a Council) sets noise parameters in consultation with Acme Company and writes these parameters into a formal consent application. The consent application refers to a Decibel.LIVE smart contract where these parameters are written into the contract code. Acme Company agrees to deposit a certain proportion of ether (or dB’s) which are held in escrow. The Council sets up remote noise monitoring equipment in accordance with the terms of the consent application.
The noise monitoring equipment sends data back to the blockchain every 15 minutes. This data is analysed by the smart contract and if found to be outside the tolerance for the time of day/week a financial penalty is imposed on the Acme Company and a proportion of funds held in escrow are automatically sent to the Council or direct to impacted nearby residents based on a proximity factor. .
How it works
Create your own free website
1,901 total views, 4 views today