The Token Society

Web3 is just another step forward. It will give rise to new institutions and social structures that will address the human need for safety, love, belonging, recognition, and self-actualizaiton. We should not assume our current institutions are the best humanity can do. What happens next is up to us.

Every act of kindness will become an act of commerce. Is this a nightmare or a dream society?

Compensating people directly and automatically for the tiniest contributions without relying on expensive middlemen and time-consuming processes.

Enabling users to transact without compromising their personal information or entrusting it to powerful corporate intermediaries; and

Empowering users to impact how platforms are government and participate in value creation; and

Limiting the accumulation of power and economic benefits in the hands of a small number of corporations;

Web3 has the potential to reduce the current costs of online interactions by:

By reducing the cost of monitoring and enforcement, royalties and micro-payments can be applied to many other products and industries, no just to songs by famous artists. Suddenly, we can compensate people for their specific contribution to other types of tasks and projects.

In contrast, a blockchain-based social network would be operated based on pre-programmed rules that enable anyone who abides by these rules to participate. Any change to these rules requires the consent of multiple stakeholders, the process of enacting this change is transparent.