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https://www.npr.org/2021/11/21/1056988346/web3-internet-jargon-or-future-vision
In a Web3 world, people control their own data and bounce around from social media to email to shopping using a single personalized account, creating a public record on the blockchain of all of that activity.
Web3 movement has been helped along by the rise of NFTs, or non-fungible tokens, which are digital collectibles and other online files that can be bought and sold with cryptocurrency.
Web2 companies will be folding Web3 ideas into their services to stay relevant.
But true believers say there is no place for Facebook in a Web3 world, no matter how hard the social network tries to be part of the next generation of the Internet.
Web 3.0 is a set of solutions on a set of technologies
https://www.cbsnews.com/news/explain-web3-blockchain-crypto-nft-metaverse/
is it more than hype?
It is hype now like all the other tech terms have been
"The tech's not new," he said, "but the marketing is."
A vision of Web 3 that will not meet expectations
d Web3 pioneer Gavin Wood envisions a new economy built around blockchain where individuals can provide services directly to each other, where no one entity owns or has control of the system, and where the ability to trade items of value exists inherently within the system.
Most innovation is delivering improved solutions to existing problems
"Wood's vision will require larger social, political and economic shifts. Enterprise companies today use blockchain to track how lettuce gets from the farm to the supermarket," Detwiler explained. "It's not revolutionary, but it's real."
Reality on Web 3.0 ? Jim Mason
In theory, there's no difference between theory and practice
in practice, there is
DAO is not key to Web 3.0
Network roles, alignment on goals, accountability and governance is key to Web 3.0. That does not require DAO
DAO - Decentrailzed Autonomous Organization - Where does it add value?
Web3 Landscape Oct 2021.pdf
What is it?
Decentralized Autonomous Organizations or DAOs are online member-owned communities governed by the consensus of their members instead of centralized leadership. DAOs represent exactly what they’re called, because they are:
• Decentralized—rules can’t be changed by a single individual or centralized party.
• Autonomous—votes are tallied and decisions implemented based on logic written into a smart contract, without human intervention.
• Organizations—entities that coordinate activity among a distributed community of stakeholders.
While it sounds complex, there are real-world corollaries all around us. Employee- owned businesses like Publix grocery stores, or even the Green Bay Packers, are examples of public ownership structures without centralized leadership.
DAOs are examples of what is known as “on-chain governance.” In traditional corporate governance, for example, companies have bylaws that dictate certain policies, such as how a board is elected. A DAO extends this concept into the digital world by encoding these policies into smart contracts.
A smart contract is a persistent computer program that runs on a blockchain network. Like legal contracts, smart contracts are commitments, except they’re written into computer code that executes automatically and autonomously.
Why it matters
DAOs are an emergent governance model for new kinds of organizations built around transparency and inclusion. The principles can be applied to a wide variety of organizations, including non-profits, collectives, cooperatives, and investment funds.
Investing in DAO - Decentralized Autonomous Organizations
https://a16z.com/2021/10/27/investing-in-friends-with-benefits-a-dao/
DAOs are internet-native, global collectives that share resources, build & deliver products and services, and work together toward common goals
DAO may meet formal expectations for the definition
or may be a loose evolution of relationship rules, expectations and incentives in specific use case networks
Can a DAO exist without blockchain? Yes - GAPP
absolutely
see GAPP - https://www.alaskapollock.org/
They have a legal structure, formal organization models, incentives, metrics and no blockchain
The member organizations are independent, decentralized producers
The association for the members provides central administration and compliance of the VCN
Governance models and examples for DAO?
IreneDAO - a social collectibles DAO
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- IreneDAO has become the talk of the crypto space after its first NFT collection soared in value on the secondary market.
- Irene Zhao launched the DAO to show the promise of her decentralized social media project SO-COL.
- Other similar NFTs have gained traction in recent months, while DAOs have also taken off.
IreneDAO launched Friday and has quickly taken off. NFT passes to enter the DAO are already trading at 1.25 Ethereum.
Each photo features text overlay, often with popular crypto memes such as “WAGMI” (meaning “We’re All Going to Make It”) and “gm” (“good morning.”) The stickers were then tokenized into 1,107 NFTs, described as an access pass to the DAO’s “Genesis Tribe,” and distributed with a free mint. They’re already trading at 1.25 Ethereum on OpenSea, around $4,125 at press time.
ConstitutionDAO - a DAO to buy a copy of the Constitution
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Despite raising over $47 million to bid on the document, the DAO fell short of winning.
This is not the first time crypto natives have been involved in major auctions and auction houses. Earlier this month, Beeple sold his ‘HUMAN ONE’ sculpture, a 7-foot-tall NFT-paired astronaut, at Christie’s for just shy of $29 million. In March, he sold his “Everydays: The First 5,000 Days” NFT for $69 million—paid for with 42,329 ETH, which would have been worth over $169 million at today’s prices
Is a DAO fun to work for even if there is no money? Some say yes
https://finance.yahoo.com/news/were-freaking-daoing-people-think-172943284.html
, at Christie’s for just shy of $29 million. In March, he sold his “Everydays: The First 5,000 Days” NFT for $69 million—paid for with 42,329 ETH, which would have been worth over $169 million at today’s prices
Is a DAO fun to work for even if there is no money? Some say yes
https://finance.yahoo.com/news/were-freaking-daoing-people-think-172943284.html
DAO in Banking - EBI - European Banking Institute
Decentralised Autonomous Organizations- Targeting the Potential-EBI-2024.pdf. link
Decentralised Autonomous Organizations- Targeting the Potential-EBI-2024.pdf file
a DAO is a blockchain-enabled organization that allows large numbers of individuals across different jurisdictions to carry out business activities in a decentralised fashion
The governance rules governing such activities and the ways in which members can participate in the collective venture are, to different extents, defined and automatically enforced by a smart contract.
hundreds of DAO LLCs which have been incorporated since the Wyoming’s Decentralised Autonomous Organization law became effective
Section 2 sets forth a working definition of DAOs as well as an overview of their functioning. Section 3 engages with the analytical framework considering economic, legal and technological aspects of the business organization of economic activities. Section 4 investigates the main legal problems which could affect DAOs, namely the lack of limited liability, the governance issues and the representation of interests. Section 5 looks at some of the most interesting legislative tools and proposals which apply to DAOs.
Section 6 discusses the role of DAOs as a form of business organization beyond ideological takes about blockchain technology
A DAO may include.concepts of membership, roles, assets, processes, governance in a variety of ways, voting use cases
digital-asset-tokenization-summary-2023.pdf
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VCE = Value Chain Economy = integrated digital economic communities with multiple parties, roles
for more, see >> VCE runs on Web4 = SSM, SGS, AI, SLT, STS, ODP> Value Chain Economies: micro economies for value-chain communities ( VCC )#VCE-ValueChainEconomiesareVirtualDigitalCommunities
s Blockchain Opportunity Assessment - BOA#BOA-KeyQuestionsforVCE%3AValueChainEconomies
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Blockchain - this is about transformation at the level of a market or even an entire industry. I’ve been working in business transformation and integration for 30 years and I can tell you it is really hard to get different departments in just one company to talk to each other and effect change. And they all have the same ultimate boss. It is even harder to get three or four companies to talk to each in a minimum viable ecosystem in a network. It is even harder to get 20 or 30 companies in a market to talk to each other. It is even harder to get 100’s or 1000’s of companies in an industry to talk to each other. It’s hard, really hard. But. Understand network effects. We are building a new version of the internet, industry by industry - where data can be trusted and shared B2B - trusted data at the level of a market - for the first time. This is rocket fuel for innovation and offers almost unbelievable value creation. And this is happening - maybe not in the expected traditional markets - maybe in new markets instead - - but just look at DeFi. So the question for today is - is it easier to reinvent markets from a blank sheet of paper or do the incumbents have an advantage over these start ups and will we optimise traditional incumbent markets first and then reinvent them? When the first iPhone arrived it made us all realise what “a lot better” actually meant. Do the incumbent industry players have an advantage over the blockchain start ups and will we optimise traditional markets first before we reinvent them? Or will we bypass the incumbent and go straight to the reinvent the industry stage and add digital value on top of the incumbent commoditising their business or maybe in a more digital industry make them redundant?” Should our business leaders be worried? #blockchainthoughtfortheday #tokeneconomythought4theday
me
"What, me worry?"
Andy Martin focuses on economic models for DLT solutions
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The key is not the technology but how it's used that determines value to the participants. Your focus on trust, economic incentives, network effects and behaviors of participants is the reason for offering useful DLT solutions
Andy Martin Token Economy Videos
Andy Martin's Tokenomics videos
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tokenomics-andy-martin-The Token economy-videos.pdf
5 biz template 1
https://www.youtube.com/watch?v=_DKArcvL2eI
Andy Martin - Token Economy - Part 1
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Digital Assets Ecosystem Will Be Powered By End-To-End Standards Vipin |
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These tokens are often marooned in platforms with no way to interwork with other tokens or payment systems or existing financial market infrastructure. Releasing the tokens from their current prisons and allowing them to interoperate will unleash business value. IWA standards are meant to be platform and technology neutral and not limited to blockchain or distributed ledger technologies. IWA focuses on the interoperation of value represented by tokens, by addressing three layers of the problem. Each layer is at a different level in the business stack. Starting from the base,
Token templates can make it easier for business analysts to model tokens and behaviors: For example a token that can be minted and transferred has behaviors like mint and transfer. A business analyst models a token using a graphical front end, which in turn generates artifacts that span business specifications and code. This creates a seamless way to model the token from concept to code. Templates can be developed by domain Multi-party contracts can leverage existing systems like CDM IWA will benefit by looking at work that has already been done in the CDM or the Common Domain Model. CDM although first developed by ISDA, the International Swaps and Derivatives Association is now open source. CDM is being generalized for all types of contracts and is platform neutral. The same model can be used for other domains ISDA CDM fact sheethttps://www.isda.org/a/z8AEE/ISDA-CDM-Factsheet.pdf Create standards for market -driven analysis of contractually shared data for regulatory reporting and extraction of business value. This analysis will use privacy preserving methods. One can assume zero-knowledge proofs or homomorphic techniques. In this too, existing standards need to be looked at and integrated into the IWA. Roles will be mapped to sets of token behaviors identities can be mapped to roles by: automatic or manual assignments |
Monetize and Tokenize Data
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This will have the added benefit of creating increased liquidity through fractional or whole transactions, reduced costs, and increased settlement time. Ledgers will come to define the rules of asset transfer and value creation, providing a blueprint for the next generation of economic interactions.
Finance
Tokenization of traditional financial instruments, such as stocks and bonds, has the power to enhance inclusivity and liquidity across the traditional capital markets, bringing about improved practices that should improve transparency, increase market participation, and eliminate settlement risks. For example, bond tokenization is improving accessibility through maintaining an accurate ledger of fractional ownership, opening up the market to potentially millions of retail investors.
Potential Challenges
Candidate Solutions
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