1) Is We-Guild insurance?
No. We-Guild is a platform that facilitates self-employed people helping each other out by chipping in for each other when in need. On top of that, it distributes the cost of an incident (someone being ill) after it's happened, not before. Unlike insurance, it's not based on the likelihood of something happening but on it actually happening.
2) How do you stop people from cheating?
The most asked question! There are different forms of cheating and We-Guild deals with them through trust and reputation. Remember We-Guild doesn't not attempt to make people behave any better than in real life, but it tries to stop them from behaving any worse.
False help requests
Link only with people that you trust wouldn't do this (you should know them in real life.) It's much less likely that people will do this to their friends. Nevertheless, even in the undesired case that someone gets help through a false request, it will still be kept track of through the Colour map so it'll be subject to the following two mechanisms:
Leaving We-Guild 'in green'
If you try to leave We-Guild and your network is 'in green' with you (your friends have helped you more than you've helped them), you'll have to reconcile those help requests with those who helped you. Otherwise, your friends will be notified of such action. (They may consider this information when dealing with you in the future.) The same thing applies when trying to un-link with someone in green (someone who's helped you more than you've helped them).
Individually not helping those who helped you
If you individually reject a help request from someone in green, this will also trigger a notification to your friends. If you don't have money to help your friends this time that is ok though; you can just cap your help so that all the requests are reduced proportionally. without triggering any notifications to anyone.
3) How much can you ask for?
It's up to you how much to ask for and to explain your situation to your friends. The maximum amount will depend on the shape of your network. If you reach your maximum amount of friends you could get up to your monthly commitment multiplied by 28. (Your monthly commitment is not binding, just your estimation - We-Guild is pay-as-you-go, remember?) So:
*Please note the potential fees are not included in these totals.
(Yet these would be proportional to how much you could get.)
4) How long for can you ask for help?
You can ask for as long as you need it as certain circumstances will demand so. There will be an option to automatise help requests in case of injury or other such eventualities. Your friends will surely understand the nature of such a request.
It is like in real life in that you know that your friends can only help you a certain much. We-Guild does not attempt to be absolute cover for any eventuality (especially long-term ones) but more a complement to other measures in place that better fit such scenarios (like professional insurance as such.)
5) How does linking work?
You have complete control of your close friends. Your far friends (the close friends of your close friends) are not really dependant on the friends that brought them along. You could also have far friends without close friends linking you to them.
Also, as long as there have been no help exchanges (unconfirmed friends), there is no commitment, so you could un-link that person any time.
Check out the video for more details.
6) How are payments worked out?
In order to make the allocated amounts as fair as possible, We-Guild calculates them based on the following:
Check the example network and sheet to see the calculations in action.
6.1 Variety of commitment allows for people of different levels of commitment to link together. It establishes the trade-off that the more you estimate to commit, the bigger proportion of your friends' requests you are allocated; but the more friends you can have to help you when you need it.
The video also shows how your maximum amount of friends (aka FCT box) is worked out - which is very related.
6.2 Impact diffusion is the thing in the video about the close friends paying 60% and your far friends the remaining 40% of your help request. Your far friends will never pay more than 40% but they coud pay less. Check the video to see how it works and why.
6.3 Capping is for when you are not going through a great month but don't want to lower your monthly commitment. It's like the short-term version of changing your monthly commitment. But the advantage is that you don't lose your space in your friends' FCT box.
7) How will it be financed?
Users will have the choice of either regular fees, fees per transaction or ads; or a combination of these. We're in the process of calculating these but rest assured they'll be as low as possible. If you know of methods other than these please let us know!
8) Where will the money be held? In a central bank account?
No. We-Guild only wants to establish the platform but does not want to handle anybody's money. We're currently looking into digital wallets that would be connected to your user's account. This way, help exchanges are decentralised and purely peer-to-peer.
9) Will be it only UK based or international?
We're considering the international option since the Variety of commitment feature would already take into account different countries' income levels.
10) Can anyone join?
We-Guild is primarily aimed at self-employed people who need sick-pay. However, since there is no need to show any documentation, you could potentially use the platform with trusted ones for other ends. Please let us know your ideas on this option as we may consider it.
11) Will less sociable people not be at a disadvantage?
This is definitely possible, and we don't like it. That is why we'd like to take measures to prevent this from happening as soon as possible. We have some ideas in mind but please let us know if you have any suggestions.
12) Would you not be 'letting the employer off the hook' in some cases?
We're glad you asked. We've written a longer answer to this one.