Internet of Value

Background

The original purpose of blockchain was to enable trustless payments on the Bitcoin network. Before Bitcoin, online payments required an offline third party such as a bank to manually approve each transfer. This created a major weakness to fraud and theft – one which is no longer present in Web3 systems built on the blockchain.

Did you know?

As of 2018, the average international transfer costs over $35 USD. A Bitcoin transaction by contrast costs less than $10.

Current State

Payments online are currently transmitted through private third parties, which complicates international transactions and reduces the ability of regulators to monitor activity.

 

Conceptual Goal

In order for a more open and transparent system to be truly efficient, users must be able to be held accountable for their actions. With the introduction of cryptocurrencies and the Internet of Value, it is finally possible to create transparent incentive-based systems online. We can now connect digital action with value in a very real and precise way.

 

What can we do today?

1. Develop proper online identity tracking systems

2. Implement systems to track value creation through the supply chain and better reward contributions despite intermediaries

3. Keep others accountable online

4. Use smart contracts to allow all participants to see the inner workings of a system and handle automatic fulfillment

Check out our section on finance for more on how these systems can promote independence.

 

Digital Identity

Background

The internet as we know it has evolved to suit our needs. With each iteration, we’ve brought offline technologies online. Generally, we’ve done so in the simplest way possible.

As systems move online, it’s important to be able to prove who you are, and to stop others from impersonating you. Privacy and security need to be at the core of everything we build, rather than just an afterthought.

Did you know?

In 2017, 1/10 Americans was the victim of online fraud, with over $16 Billion dollars stolen.

Current State

As we bring more of our information online to solve problems, security will need to adapt to keep up.

 

Conceptual Goal

If the Internet is to become the core of our society, it’s important that we begin to support firms who deal with privacy and security as a focus, rather than an afterthought.

 

What can we do today?

1. Demand opt-in systems where users have more choice in which data they expose

2. Offer premium or “No Ads” options to increase direct support of projects, rather than relying on user data for profit

3. Choose not to participate in systems that profit from your data unfairly

Check out our section on healthcare for more on how these systems can help users control their data.

NEXT: Digital Governance

Digital Governance

Did you know?

On average, data collected on websites is transferred through at least 5 third party servers without the user’s knowledge

Current State

While the internet has made it possible for anyone to publish content, the publishing tools themselves have become potential points of failure.

 

Conceptual Goal

As content online becomes more and more interchangeable for real world experience, social media companies and content providers will be the primary source of information for many people. It’s up to us to dictate the terms of that situation in advance, and to stay vigilant for changes to the status quo.

 

What can we do today?

1. Develop more systems that are designed to promote open sharing of ideas, rather than the extraction of direct profit

2. Actively track and hold firms accountable for their influence

3. Choose to engage only with communities and products that value open communication and freedom of speech

Check out our section on finance for more on how these systems can promote independence.

NEXT: Decentralization

Decentralization

Did you know?

Almost half of US Energy production is wasted each year due to separate and uncooperative systems, and consumers foot the bill.

Current State

Interoperability in technology refers to the design of systems as complimentary modules. Most of the infrastructure that we take for granted today is the result of a concerted effort to produce, distribute, and maintain individual component technologies.

Conceptual Goal

Blockchain and Web 3.0 present an opportunity to create a system without the bottlenecks of the current model. By democratizing access and opening incentive structures, we can provide greater opportunity for everyone while making the system more stable.

What can we do today?

1. Use smart contracts to allow separate blockchains to interact

2. Build and support new products as modular solutions, with integration as a design principle rather than just a feature

3. Build and support products that act as bridges between existing technology and new systems

Check out our section on energy for more on how these systems can promote independence.

Learn More: History of Decentralization