Pooling of Meritts allows for a community of people to cooperate in order to make larger purchases or shared purchases. Pools may be formed to make single purchases, or can be run like a company or partnership. While an individual cannot acquire more than X million Meritts it is possible for 100 people who participate in a Meritt pool to share in the acquisition of 100 times that amount. This enables a business or organisation to grow in size, so long as the wealth is shared among the members. Meritt Pools are built around contracts that control the allocation of funds. For example a person, multiple people, or an organisation may be specified as the trustees of the merit pool and have the ability to access the funds and spend for the specified purpose. Unlike blockchain technologies, the creation of smart contracts in the Meritt system is very simple and has no cost associated with it.
Below are some examples of what can be achieved with Meritt Pools:
A group of people might want to pool some funds to share expenses. This Meritt pools allows anyone access to all the funds that have been deposited.
A business may want to receive funds via a Meritt Pool and have those funds automatically distributed to it’s members or employees according to an agreed distribution.
As a Meritt pool uses a smart contract it is possible to connect a Meritt pool to a DAO to provide governance.
And more complex models can be created with the use of any number of Meritt Pools connected to a DAO
