minor changes. This doc is showing some age...

whitepaper.tex

@@ -13,7 +13,7 @@
 \title{The ZimDai Whitepaper\\
 	\large Blueprint for an Economic Jailbreak
 }
-\date{Feb 2020 (v1.1)}
+\date{April 2021 (v1.2)}
 \author{Logan Brutsche}
 
 \begin{document}
@@ -39,9 +39,9 @@ \section{The Situation} \label{situation}
 
 \subsection{Our Position} \label{position}
 
-We are Team Toast, the developers and mascots of \href{daihard.io}{DAIHard}, a decentralized fiat-to-crypto gateway designed to be resilient and effective within oppositional jurisdictions. Armed with a stable product needing liquidity and users, our attention was drawn to Zimbabwe, whose only crypto exchange was \href{https://www.techzim.co.zw/2018/05/golix-ordered-to-shut-down-by-rbz/}{shut down in May of 2018} due to pressures from the Zimbabwean banking system.
+We are Team Toast, the developers and mascots of \href{foundrydao.com}{Foundry}, a DAO being designed for radical economic freedom. While considering ways to market \href{https://foundrydao.com/products}{DAIHard}, a decentralized fiat-to-crypto gateway designed to operate even in oppositional jurisdictions, our attention was drawn to Zimbabwe.
 
-The author of this document then spent two months in Zimbabwe for market research, primarily focused on two questions: Could Zimbabwe benefit from adoption of a stablecoin such as Dai? If so, how could such adoption be achieved?
+The author of this document then spent two months in Zimbabwe, primarily focused on two questions: Could Zimbabwe benefit from adoption of a stablecoin such as Dai? If so, how could such adoption be achieved?
 
 As to the first question, section 1 will spell out a resounding yes. The rest of the paper deals with the second question.
 
@@ -79,7 +79,7 @@ \subsubsection{No Sound, Digital Currency} \label{gap}
 
 If a Zimbabwean obtains USD or other foreign cash, they are able to protect their wealth and save, but are prevented from digital money services like transfers, loans, or savings accounts.
 
-A reliance on physical cash becomes particularly cumbersome for a scaling business, so before too long they begin operating with the banking system, which comes with the downsides of unpredictable regulation and rapid inflation.
+Being barred from digital money services becomes particularly cumbersome for a scaling business. In order to scale, they begin operating with the banking system, despite the the downsides: unpredictable regulation and rapid inflation.
 
 To summarize, today Zimbabweans have two mutually exclusive options: digital currency via the banking system that is constrained, expensive and inflating; or stable cash that can't be used digitally and isn't always easy to find.
 
@@ -108,6 +108,8 @@ \subsubsection{Bisq and DAIHard: Unstoppable Gateways To Crypto} \label{exchange
 
 \subsection{Challenges} \label{challenges}
 
+Any plan of this sort must address some key challenges to be feasible. These will be briefly summarized, addressed later on in the meat of the paper, and revisited near the end.
+
 \subsubsection{Crypto is Difficult and Complicated} \label{difficult}
 
 Even without volatility, cryptocurrency has some difficult aspects.
@@ -144,11 +146,11 @@ \subsubsection{Funding} \label{funding}
 \section{Blueprint for an Economic Jailbreak}  \label{blueprint}
 \subsection{ZimDai Agents} \label{agents}
 
-The core of the plan revolves around setting up \textit{ZimDai Agents}. An Agent is anyone within Zimbabwe who can operate crypto/Dai with relative fluency, and utilizes these systems to offers various bank-like services to others. Because crypto can easily route around the highly constrained financial systems of Zimbabwe, these services will be cheaper and better than any alternatives attached to the banking system.
+The core of the plan revolves around setting up \textit{ZimDai Agents}. An Agent is anyone within Zimbabwe who can operate crypto/Dai with relative fluency, and utilizes these systems to offer various bank-like services to others. Because crypto can easily route around the highly constrained financial systems of Zimbabwe, these services will be cheaper and better than any alternatives attached to the banking system.
 
 Agents are expected to charge commissions for their services, and will act as ambassadors of a sort to a new, better banking system. By focusing on setting up and educating agents, we enable their entire social network to realize the benefits of crypto, but avoid the cost of educating the whole community. And by ensuring the agents can profit from this work, we incentivize the agents to solve any problems and grow their clientele autonomously.
 
-We do not define agents as vetted by any Team Toast or any other organization. Anyone who can reliably offer the services listed below to Zimbabweans may be considered a ZimDai agent; thus, growth of the agent network should be seen as an organic, grassroots phenomenon to encourage into spontaneous growth, rather than a carefully selected set of employees.
+We do not define agents as vetted by Team Toast or any other organization. Anyone who can reliably offer the services listed below to Zimbabweans may be considered a ZimDai agent; thus, growth of the agent network should be seen as an organic, grassroots phenomenon, which can be encouraged into spontaneous growth, rather than a carefully selected set of employees or hierarchical "blue church" structure.
 
 \subsection{Agent Services} \label{services}
 
@@ -176,7 +178,7 @@ \subsubsection{International Dai to Cash In Hand} \label{remittance}
 
 There exist services to help with this, but they aren't cheap. Western Union charges 10\%, and companies like Mukuru charge \$5 as a minimum fee. If a Zimbabwean has a relative sending money who is technologically literate, they have a chance to save a significant amount by using Dai instead, with the caveat that the sender must first trade their local currency for Dai.
 
-At first we'll simply market to people in the diaspora who are already familiar with crypto, i.e. ``Turn your Dai into cash-in-hand for Zimbabwean relatives!'' With time we can choose high-value countries to set up agents similar to those in Zimbabwe, so we can market a much broader service: "send money to Zimbabwean relatives", where agents on either end translate the money in and out of Dai for the actual transfer.
+At first we'll simply market to people in the diaspora who are already familiar with crypto, i.e. ``Turn your Dai into cash-in-hand for Zimbabwean relatives!'' With time we can choose high-value countries to set up agents similar to those in Zimbabwe, so we can market a much broader service: ``send money to Zimbabwean relatives'', where agents on either end translate the money in and out of Dai for the actual transfer.
 
 \subsubsection{Payment To and From South African Bank Accounts} \label{south african accounts}
 
@@ -196,7 +198,7 @@ \subsubsection{Dai Money Changing} \label{dai money changing}
 
 \subsection{Agent Liquidity} \label{liquidity}
 
-Each time an agent performs some service, it will affect their local holdings, which this must be rebalanced for the agent to realize the profit or offer the service again.
+Each time an agent performs some service, it will affect their local holdings, which must be rebalanced for the agent to realize the profit or offer the service again.
 
 For example, if an agent is holding \$1000 in Dai and \$1000 in USD, and customer wants to send \$500 USD to a South African bank account, the agent will take the \$500 plus a commission and send 500 Dai to the SA bank account via Hatchlet. The agent is then left with over \$1500 USD but only 500 Dai. How does he re-balance?
 
@@ -206,7 +208,7 @@ \subsubsection{Leveraging a Hungry Bitcoin Market} \label{bitcoin liquidity}
 
 Distinct from the street money changers, there exists within Zimbabwe a healthy, reputation-based market for buying and selling Bitcoin, and there is a consistent 5-10\% markup on price. This represents an interesting benefit to any agent who is facilitating Dai-in services.
 
-An agent might offer to facilitate remittance from a relative who can obtain Dai. This relative sends 100 Dai to the agent plus a 2 Dai fee, and the agent disburses 100 USD to the intended recipient. Then the agent can use a tool like \href{https://changelly.com/}{Changelly} to trade the 102 Dai for BTC for a meager 0.25\% fee, and sell the resultant BTC to the hungry local BTC market for an \textit{additional} profit, ending up with around 110 USD.
+An agent might offer to facilitate remittance from a relative who can obtain Dai. This relative sends 100 Dai to the agent plus a 2 Dai fee, and the agent disburses 100 USD to the intended recipient. Then the agent can use a tool like \href{https://changelly.com/}{Changelly} to trade the 102 Dai for BTC for a meager 0.25\% fee, and sell the resultant BTC to the hungry local BTC market for an \textit{additional} profit, ending up with around 110 USD. That's a 10 USD or 10\% profit, for some minor digital work and a single cash handoff.
 
 All this requires is that he knows someone who can send Dai instead of fiat for a remittance use-case, and that he has a contact within the BTC market. Amazingly, he could even offer the remittance service at 0\% fee, and he'd still profit simply by selling to the BTC market.
 
@@ -220,7 +222,7 @@ \subsubsection{Balancing Dai-Out and Dai-In Services} \label{dai-out dai-in}
 
 This distinction is relevant not just to individual agents, but applies to the agent network as a whole: if, for example, most agents are offering remittance, the network will accumulate Dai and drain local currency.
 
-One way an agent can address the liquidity problem is by balancing Dai-in and Dai-out services. If he's sending lots of currency out, he may begin to market more strongly toward those who want to receive currency from abroad. A similar approach would be to network with another agent who tends to serve the converse type of service. These agents could maintain liquidity by trading with each other with no or little fees, to their mutual benefit.
+One way an agent can address the liquidity problem is by balancing Dai-in and Dai-out services. If he's sending lots of currency out as Dai, he may begin to market more strongly toward those who want to receive currency from abroad. A similar approach would be to network with another agent who tends to serve the converse type of service. These agents could maintain liquidity by trading with each other with no or little fees, to their mutual benefit.
 
 Just as an agent can individually aim to balance Dai-out and Dai-in services, we can help to guide the entire agent network's floats by targeting either Dai-in or Dai-out use-cases on a national scale.
 
@@ -319,7 +321,7 @@ \subsubsection{Ecocash as Market Validation} \label{ecocash market}
 
 Ecocash faced a similar bootstrapping problem as Dai adoption faces today: no one cared about Ecocash at first, because there was no real-world use for it. Comparing Ecocash to a Dai wallet as a product, each has pros and cons, but Ecocash is a far cry from a superior product.
 
-Ecocash has two advantages over a Dai wallet: it can be used without the Internet (needing only a basic cell connection to send USSD codes), and it has a much more user-friendly security model, where simply "losing" funds in any way is pretty inconceivable.
+Ecocash has two advantages over a Dai wallet: it can be used without the Internet (needing only a basic cell connection to send USSD codes), and it has a much more user-friendly security model, where simply ``losing'' funds in any way is pretty inconceivable.
 
 However, its drawbacks are significant.
 
@@ -416,7 +418,7 @@ \subsection{Feedback and Partners} \label{feedback and partners}
 
 \subsection{Funding and Leadership} \label{funding and organization}
 
-This paper has been written as a side effect of Team Toast's market research into Zimbabwe, but we are not prepared to commit to this given our limited runway. This menas that as as of this writing, ZimDai lacks a long-term committed leadership structure and a marketing budget.
+This paper has been written as a side effect of Team Toast's market research into Zimbabwe, but we are not prepared to commit to this given our limited runway. This means that as of this writing, ZimDai lacks a long-term committed leadership structure and a marketing budget.
 
 This is the largest gap in the plan at this time. The DAO Team Toast is building, Foundry, may choose fill this gap, depending on the scale of funding resulting from the Foundry token sale. For updates on this, follow the \href{https://medium.com/daihard-buidlers}{Team Toast Medium publication}.