A new model for the internet
The Token Economy newsletter is back today. Maybe I should just comment on Anthony's posts. Anyway, here is a summary of yesterday's debate from my perspective.
My philosophy, politics and economics for web3 - that is the business model for web3 - is built around a new economic model to re-build the internet as a fairer collaborative internet. If you use that definition - as I do - then you draw the relationship between web3, blockchain and crypto like this. My purpose is to tell a story as we build step by step and build a new economic model for web3. I am not trying to account for every possible case
We are re-building the internet around ownership of identity and data and economics based on collaboration. The thing is built on a new payments model for micro payments - you can't do that on traditional payment rails. Get the solid foundations right and go from there.
You see in the beginning Satoshi created peer to peer (micro) payments for the internet (mind we ended up turning that into something else along the lines of digital gold). It was then Vitalik who extended this idea into more easily configurable programmable money ontop of those micropayments. Finally it was Gavin Wood who put it all together as web3.
So we go (1) Satoshi, crypto or micropayments --> (2) Vitalik, blockchain or programmable money --> (3) Wood, web3 or user front end. So there you have it. The new internet is digital payments evolving into wider?blockchain, to manage state and build apps, evolving into the wider and fairer new economic model for the internet user built around that ownership.
The payments piece has since evolved into markerplace tokens based on fiat stable coins using wholesale CBDC as core collateral. You see the implementation of this new collaborative internet is marketplace by marketplace within zones of sovereignty with interoperability or bridges linking markets into a marketplace of marketplaces.
At the very centre lies the machine to machine economy, or the economy of things. This is where we bring IoT, ML and blockchain together to create the new digital economy.
Just saying
References
CEO, Co-Founder of Blorm
2 年Sweet read. Do you have an email newsletter? Would love to receive this in my inbox
Founder/CEO at Viaport
2 年It already done, It's called the Metanet. just saying. ??
Blockchain and Crypto Advocate
2 年Sounds good, almost like a fairy tale. Just like the internet 30 years ago. Internet philosophy then had similar battle cries of openness and empowerement of the individual. Just hope we don't end up getting manipulated all over again. One needs to "celebrate the quick debacle" of a few unsustainable experimental models at the cutting edge of blockchain technology. This needs to be seen as a reconfirmation of the impartiality of the emerging ecosystem. Its a display of inherent strength of the crypto markets, their ability to self regulate and continue to operate flawlessly and efficientlly. The naysayers, supported and possibliy manipulated, by those who have vested interests in maintaining status quo could easily drive Web 3.0 towards a more controlled, Orwellian ecosystem. Andy Martin , what about those who are going to get disempowered by your proposed architecture !!!
Transdisciplinary Research Scientist. Author of Mindful Smart Cities. Smart Cities and Resilience of Complex Adaptive Systems Expert
2 年Thank you for sharing
Technologist
2 年Web 3.0 user pays for information using MERCs. Merchant tokens riding Ethereum Layer 2 Protocol using Nightfall 3 Zero knowledge proofs. Micropayments for SPARQL queries. MERCs come fully collateralised and are stable relative to Bitcoin. https://accziom.com/framing-accziom-information-marketplace-value-proposition/ .