Guardian Circle has released an overview of the Guardium (GDM) token economic (tokenomic) model. Guardian Circle is a blockchain-based project that aims to provide “uber-like” emergency first-response services, especially useful in places where official response is slow, corrupt, or ineffective.
End users of the Guardian Circle application will stake a pot of GDM tokens, which acts to incentivize First Responders to react to an Alert, provide immutable transcript storage, and activate an emergency information lockbox.
With Guardian Circle, the staked pot of GDM tokens are accessible, to be used whenever a call for a Public Responder service is necessary. From this GDM pool of staked tokens lies compensation for services, to be divvied among the Public Responders who answer the Alert. Transcripts of the phone calls and requests are to be safely stored on the Guardian Circle blockchain, to keep the information within the transcripts incorruptible in case of future potential legal needs. Lastly, users who stake GDM will be able to create an “emergency information lockbox” that will notify pre-selected parties (as well as Public Responders) when an Alert is declared.
Additionally, end users will be able to gift GDM tokens for other end users to stake for potential future Alerts.
Internet of Things (IoT) device manufacturers will be able to stake GDM tokens, to provide the ability to plug third-party Alert devices into the Alert Grid application programming interface (API). The Guardian Circle API has “already been used by ~100 contestants of the Women’s Safety XPRIZE, and to create an Amazon Alexa Voice version of Guardian Circle.” Some other examples of IoT devices include panic button jewelry, watches that monitor irregular heart-rate, and in-car voice systems, among others.
Governments, schools, corporations, resorts, hotels, and hospitals will also be able to stake GDM so these entities might gain access to view all Alerts made on their property (or within their region), and access to the Dispatch console.
The Guardian Circle Application and How it Works
To join the “protection grid,” users can download the Guardian Circle application, and add family, friends, neighbors, and “public responders” to their protection list. Two tiers of services will be offered: a free service and an enhanced service. Basic service will be free and provide unlimited alerts to friends, family, and neighbors. The enhanced service will require a minimum stake of 50 GDM tokens, and will provide access to nearby Public Responders, offer immutable transcript custody and management, and the emergency information lockbox.
Through the Guardian Circle application, Public Responders will be able to receive Public Alerts, and are incentivized to respond based on the amount of GDM staked in the Alert. After an Alert has been resolved, Public Responders will be ranked on their performance; better rankings command a higher percentage of future GDM pots and send more Alerts to those who have higher ranks.
When a Public Alert is made, Guardian Circle plans for at least three Public Responders to be sent (depending on availability). The ‘three Public Responder rule’ is an attempt to minimize the chances that a Public Responder is a bad actor.
The application aims to minimize “Prank Alerts,” as the staking necessary to make an Alert requires Alert-makers to purchase GDM tokens to re-stake their positions.
Additionally, the Guardian Circle application will allow for the cross-border use, as the application can be used in any region around the globe, by anyone who has downloaded the application.
Guardian Circle consumers don’t pay for anything until they use the application. Until then, staked GDM will remain in the application, unless the user opts to unstake their GDM tokens.
Equitable Use of the Guardian Circle Application
In an effort to provide fair and equitable service among users of all wealth levels, Guardian Circle aims to provide sponsorship models and to seed-fund pre-staked Guardian Circle applications.
Guardian Circle imagines the future use of “safety sponsorships” that support cause-based safety of disenfranchised groups in the developing world. These sponsorships will require GDM is purchased and staked for Alerts for beneficiaries that are part of sponsored groups around the globe. The safety sponsor will be able to see how their donation was spent through the Guardium blockchain explorer.
Additionally, Guardian Circle will implement a pre-allocated portion of GDM tokens to help launch the ecosystem. The development team plans to select a large city in a developing country, and provide the first 30,000 participants with 100 GDM tokens pre-staked on the application. Guardian Circle will also coordinate with Public Responder candidates in the selected city, to incentivize their use of the application with the 3 million GDM in rewards for Alert responses.
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