As a result of the discussion of the last couple days, I have come to believe the best solution is extremely simple: merely permit custodial grants of NSR. That’s all, on the protocol level. Currency burning is already possible via excess transaction fees or OP_RETURN.
Our network currently permits anyone to burn currency or shares if and only if they possess the private key. With this minor change, anyone can could create currency or shares if and only if approved by shareholders via custodial grant. It is elegant and very flexible, as the protocol should be.
There are quite a few scenarios where shareholders may wish to create NSR, and each requires different actions surrounding the NSR creation. I don’t have time to right now to articulate the details of different use cases, but it may be that NSR is to be given as compensation, or that NuBits need to be burned where that is our only currency product. It may be that burning is necessary because one of the many national currencies we peg to is hyperinflating and being abandoned or replaced by a different currency. We may require a trustless solution in one situation, while in another scenario extending trust makes sense.
There are many questions regarding the circumstances that will exist around the need to tap the value in the NuShare market cap, but one thing we do know is that the shareholders of the future will have much more information than we have today. So we ought to give them the most flexible tools we can and let them decide what to do.