Operating system for web3

New class of collaborative economics

Blockchain is the only way to provide decentralised economic incentives for transaction processing on the internet. There is only ONE technology that provides these economic incentives to be controlled, and that means to be governed, by a community and not a single economic actor like a Facebook or a Google. That is what a blockchain is. The sole purpose of blockchain is to provide a decentralised economic integration middleware for the internet. Decentralised means that it is governed, by a community and not a single economic actor. Blockchain is unique in solving the double spend problem and censorship resistance.

What matters are these economic incentives to provide both the infrastructure to process transactions and to share data over and above your digital exhaust of web sites visited. This higher level data to be shared includes your medical data, like your DNA, to drive next generation ML/DL and the AI apps that uses this learning for users. In this model the data to be shared is controlled (or governed) by the data owner and uses techniques like ZKP to be anonymised and to share only what is agreed, such as learnings from the data but not the data, e.g., your actual DNA itself.

For me that is the one and only point of conversation that really matters. This is the only way that we can share or collaborate with our data that is related to our identity and what we own on the internet in a fair and democratic way. Blockchain trades off the ease of use of centrally controlled web2 Facebook or Google for fairness and democracy. Blockchain is not easier or cheaper or faster. But it is better because it is fairer.

Operating system for web

The operating system for this internet level collaboration is a programmable currency that becomes money within a community who agree to price digital goods and services and to exchange and store value (by controlling inflation to fiat or gold or whatever with a reserve fund) in that programmable digital currency. This behaviour of this programmable currency is controlled by the communities’ democracy (by voting with votes linked to holdings in the currency) unlike a retail CBDC that is controlled by a central bank. Who do you trust to define what your money can or cannot buy on the internet?

It is this picture above where money as a currency or operating system to exchange value (e.g., for access to data controlled via an NFT) is linked to community decision making (that's votes) and drives Decentralised Autonomous (Economic) Agents to automate business models driven by data sharing.

Infrastructure does take time to build and to become mature. Railways took time to build. So yes I am not saying blockchain and web3 is mature as of today. But I am saying it is the best choice for digital democracy and freedom for our children and for the future. There is a debate to had about "rights" vs. "duties." Think not about what rights you are due, but rather think of your duty to seize back what is already yours. Remember that throughout human history of thousands of years, that democracy was never ever given. It was always fought for.