The governance of the community wallet is up to the community or individual, who installs this particular instance of Value, together with its specific coin dynamic. Within this governance structure the group decides
on how to validate active members, who then get their "wallet" issued. This is an offline process in the current versions of the software. Think of a coworking space issuing branded Value to members,
who register at the front desk anyway, usually presenting a form of ID. Or a village where people really know eachother.
A fake community, creating fake users and fake liquidity, can possibly be detected fast, because you can't buy and receive any real services or products there.
Hence Value currently works as a more decentral, than fully distributed system, with the view to combine Value's core principles with other validation mechanisms in the future.
Will start as an ERC-20, but Blockchain agnostic.
Must have smart contracts or similar functionality.
Instances of Value can be designed and installed by community to fit their individual needs and projected use cases, following basic principles:
#1 Set amount and frequency of payout
#2 Set lifespan of coins
#3 Set transaction fees and possible taxation
#4 Amounts received burn to 0 within lifespan
#5 Value transferred to others regains full lifetime in the recipient account (therefore needs tx fee to make pingping transfers unattractive).
Community choice, which tools to use for governing the issuing entity
Anna Blume
Marc Griffiths
Philipe Achille Villiers
Yann Levreau
Hibryda
UBIcoin could be deemed a fork