The Future Of Everything: Communities

in LeoFinance10 days ago

Of late, Raoul Pal is talking about communities and the power they will have in the future. The basic premise is that communities are going to be the foundation of most things as it relates to business. The idea of tokenization allows for different business structures such as the DAO (decentralized autonomous organization). This creates an alternative model to what we are accustomed to seeing.


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Instead of having users or subscribers, businesses will be a community. This takes on a new meaning as it reduces the adversarial differences that seem to exist between the two sides presently. It aligns the goals of each member in a way that all can benefit. If it is a relationship that is not working for one, it is rather simply to leave. Selling one's stake in a liquid market is fast as well as inexpensive.

Tokenization

What is the benefit of tokenizing a community? Why would anyone go through the process?

We need to look passed the financial aspect of things. As stated repeatedly, this is just first generation stuff. When we look deeper at the issue, we see a great deal more taking place.

Basically, tokenization allows for incentivization. Those designing a token are able to establish certain codes of conduct that they want to reward. At the same time, there are also those they want to deter. A token allows for this to take place.

Of course, the dream is that all contribute towards the forward progress of the community. The reality is that not everyone does so in an even manner. Simply put, some will do a lot more than others. Pareto's Principle, also known as the 80/20 rule, enters the picture.

Thus, tokenization allows for the rewarding of people in proportion to what they contribute. While it is not exact, the likelihood is that those who are bigger participants will utilize the incentives whereas those who are sporadic will receive less.

Organization

Cryptocurrency is reinventing the way people organize. The DAO is a prime example of how this is going to occur.

When looking at corporate structures, we see the hierarchical model typically followed. This was the case for the last 150 years or so. Under this system, those at the top make the decisions and control the direction of the company.

Or do they?

This is something that is possible in an organization of 20 or perhaps 50 people. However, when the organization is 10,000 people, those at the top develop the framework the organization operates within. In other words, it sets out in a direction. Yet how the end is reached is really up to the thousands of other people. The few really cannot steer things exactly as they want.

Of course, this is evident in the twists and turns that large organizations take. How often do they start in one direction only to end up in a completely different business?

Entities of this size are complex systems that become living entities. Thus their centralized structure ends up operating in a decentralized manner. The lower levels of authority, while diminishing on a relative basis, end up being larger in total since there are more people and they tend to be closer to the frontlines of the business.

DAOs bring an entirely new mindset to this concept. There is no "top" in the traditional sense. Here we see smaller neighborhoods of people within the ecosystem, all doing what they want to focus upon. We actually end up with a similar course of action minus the direction from the top. Instead, we get a community driven initiative that can operate in a "chaotic" fashion. Yet, out of the chaos is actually a systemic plan that unfolds.

Digital Neighborhoods

Ultimately what results is digital neighborhoods that people are involved with. This is something that is done on a voluntary basis. In the future, as the infrastructure is built out, people will enter and exit rather easy.

Many believe this will end up creating greater localization. Essentially we will erect billions of "local" communities on top of this global infrastructure. Of course, local does not equate to geography. People are still going to be located all over the world.

The core thread that is going to unite people in these communities is what gives them meaning. This is where the idea of solely looking at the financial end of things is easily upended. It is true that money gives things a certain amount of meaning. However, most would agree that it is shallow at best.

What will end up unfolding is the ability for people to spend their time engaging upon what is important to them. Whatever that individual derives meaning from, a community will form around it. This is because if one has it, others will also.

Community Is The Starting Point

This is a radically new concept, especially in the digital world.

Presently, we operate with the "build it and we hope they come". This is the entire basis of the venture capital world. Under this system, a person (or group of individuals) comes up with an idea, they build something out, and the idea is to construct a community around it. Ultimately, the VCs then want that community monetized so that it can provide a return.

This model is being turned upside down.

In the future, we will see communities forming first. There will be a group of people who assemble around something that is meaningful to them. From there, they will develop the projects that satisfy their needs and pull in more people of similar interest. Over time, this becomes a self-feeding idea whereby the project keeps expanding and growing in relation to the community.

This will end up increasing the impact the community has. Certainly, it could be reflected in the financial sense but there could be more to it. Whatever is at the core for that community, that can be expressed. With thousands of different members, all incentivized to engage in certain behaviors, the benefits in that realm could be enormous.

Eventually, through the tokenization process, an entire economy could emerge based around the meaning that brings the people together. Here we see where the localization re-enters the picture. Commercial activities can arise as the members of the community innovate and create. Simply put, more ways to engage arise which can have a commercial impact.

We prefer to buy from those we know and trust. This was lost over the years as globalization and corporatocracy took over. However, with cryptocurrency, it is already re-emerging. We can see how reputation within one's community is vital. This need not be automated. Rather, it all comes down to the trust people have with each other. Some will stand out as being exceptional in this area whereas others will fall short. The "respected tribal elder" could make a comeback.


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What is interesting is that Hive is already operating in this manner. We see the ability to form a community at the base layer. It is inherent in the system. This is going to open up a host of different possibilities as more of the infrastructure gets built out.

Once this happens, we will see a lot of experimentation occurring. This will present us with innovative ways of organizing and building out new structures. As we break things down to smaller units of activity, each person's impact becomes that much greater. Of course, those who step back can see the totality of the impact on a bigger scale.

Cryptocurrency offers a seamless way to tie a lot of this together. The tokenization process of communities is a powerful mechanism, one we really have not started to really utilize to a great degree. Over the next few years, this will become more evident in our daily lives as the union between the physical and digital takes place. The advantage to the later is we do not have to deal with physical space requirements (damn physics). Instead, we can utilize the timeless, near limitless nature of the digital world.

This will likely result in a massive explosion of innovation, leading to greater impact on a per person basis. For now, we are seeing a lot of infrastructure being put in place. As more tools become available, the ingenuity of humans can be leveraged for rapid gains.

Few are considering how close this really is. We are not all that far away.

Actually, many on Hive are already aware of it since we live it on a daily basis. We see how powerful some of the communities can be and the impact one individual can have on a small "tribe".

When implemented on a global scale, this will be transformative.


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What is interesting is that Hive is already operating in this manner. We see the ability to form a community at the base layer. It is inherent in the system. This is going to open up a host of different possibilities as more of the infrastructure gets built out.

There are many communities on Hive, yet the comments under posts are still rare. Nowadays the average number of comments per post is 2-3, but most of those comments are bot comments. This is mostly the result of automated curation. This post is a perfect example. Currently there are 527 upvotes, but there are absolutely no comments. However there are 3 reblogs, which are probably manual.

Either way, writing anything meaningful in a post feels like time wasting, because there are no real human interaction on most of the posts.

What would happen to this platform, if there would be no automated curation? Probably there would be either more real, human interaction, or less activity in general. What is your opinion about this?

I think a lot of people overestimate how much interaction is on social media long form content. Look at YouTube. Sure there are some videos with 300 or 500 comments but they have millions of views.

The reality is very few people will comment on long form. Most of the Internet is just garbage content and that is why twitter and facebook are so dominant. Most people are putting out dopey things which others latch onto.

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YouTube is actually full of comments. Even the smallest YouTubers receive good/proper amount of comments, and most of these comments are funny comments.

I think its important to find your own humans tbh...
Like @chrisrice and @jonschwartz77
And Own your own Busyness...
Like @frankbacon

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Maybe focusing on one thing is good, but there are also successful people out there, who are being diverse by posting various posts.

I don't think writing something meaningful is time wasting, it actually stands out even more since there is a scarcity of genuine reading+responding to posts sometimes. It makes the real efforts to comment and communicate all the more valuable.

I don't think writing something meaningful is time wasting

If no one reads it, then I think that it is time wasting.

it actually stands out even more since there is a scarcity of genuine reading+responding to posts sometimes

Not sometimes, but mostly. And if it is ignored/missed, then it will not stand out.

You got 3 real comments 😀

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And they received three real answers.

You've been loving this Pal guy of late, if only he knew how much exposure he is getting free of charge :P

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He is a guy I followed for years. He is one of the few economists who gets it, probably since he understands trading and spent time doing that. Most economists fail to grasp the flow of capital which is why their theories/forecasts are so far off.

He is a macro guy who got into crypto and really started to "grasp" it the last few months.

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sounds like an interesting guy, hope he discovers Hive someday

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Business tokenomics is a awesome and powerful thing. I think the only thing interfering with it really is taxes and how it's currently taxed. The sheer complexity of it is a mammoth task not only for the business but for each individual person and needs to change if things are going to really take off.

We have already seen how powerful it can be through new projects and new communities springing up on Hive such as CTP and LEO.

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I think one of the aspects to all this I find most interesting is how empowered the masses can very suddenly become.

During the first Enlightenment there was definitely ingenuity and progress made by common folk with boots on the ground, but the wealthy still had, more or less, exclusive access to higher education, so a lot (probably most) of the ability for commoners to contribute was stifled almost indefinitely.

Today, with everyone, everywhere having full access to the entirety of human knowledge, people who could hardly tinker before can access a top tier education, not only on the topic of interest, but everything it’s entwined with.

I’m not sure if we’ve had a bonafide “Age of Ideas” yet, but I think we’re about to.

I’m not sure if we’ve had a bonafide “Age of Ideas” yet, but I think we’re about to.

Watch the development of AI in this regard. When we are to the point where you can think up something and describe it in rough detail and the AI develops it for you, then yeah we will be there. Almost any idea can be manifested into a digital form.

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Damn... I was just thinking about everyday people thinking about stuff... I didn't even think ahead far enough to consider AI rolling out ideas stacking on our ideas then just going off and coming up with their own.

I really like what I read here. I will reread again it in the future! Thank you for sharing!! (I should get lots of upvote because I reply & comment all manually, I should get more followers to help me with upvotes or probabyly curation trail, find me there! xD.. I am kidding)

HIVE!D.BUZZ!D

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Wonderful work as always bruv 🙏😎🥓👍

Thank you. Always appreciate the support.

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Trust will definitely be an issue but I think it will definitely be hard to really trust an anonymous person. Instead would you say it is trust in some software? For example a bot or AI that controls the community after setting some rules.

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Millions are trusting Bitcoin. That is about as anonymous as it gets.

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I shared this article with the devs at Ethermore on their discord. This was a great article articulating the same kinds of thoughts I've been thinking about DAOs recently.

I see a lot of DAO gaming things popping up, but I do see a distinct lack of "communal support". Most of the time the "community" is a discord or telegram channel. I can't help but think HIVE Tribes is basically a perfect fit for some of these projects. Especially projects which build themselves entirely off of community engagement and community driven lore.

It is sad there is so much activity on Discord and those types of applications and very little on chain. This is something that is going to have to change long term.

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I try to tell any devs I come across in this space to check out Tribes on HIVE. Instead of building your own social community front end and possibly back end from scratch, if your aim is to be a DAO, built the community on-chain, using an already established community.

Building out a DAO on HIVE, especially for gaming, could be a crazy interesting experience as well, since a massive part of HIVE users own Splinterlands cards. I'm excited for the future when games start utilizing NFTs cross-game.

Need some monsters for your NFT D&D userbase and some users to play them? There's quite a large base of users who own monsters from Splinterlands....

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Bang, I did it again... I just rehived your post!
Week 59 of my contest just started...you can now check the winners of the previous week!
!LUV
2

This basically sums up where I feel we are with Hive and it's Tribes. For the most part, I think Hive is just ahead of it's time right now. The infrastructure being built inside and around it is slowly fleshing it out so that when the world is actually ready to see the true benefits of crypto, Hive will be in a position to capture literally millions of those people. I've said it before, I truly believe this place could end up being a fundamental cornerstone of the entire cryptosphere in the years to come. It's obviously not going to happen overnight and it certainly is still years away, but this community is a living organic organism that continues to evolve and grow from within. It will be virtually impossible to duplicate and almost equally difficult to replicate. Thus, when crypto does finally start achieving mass adoption, it will be far easier for people to come here than for them to chase the latest and greatest innovation. We're on the right track. We just need to stay the course and keep the ideas flowing.

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an excellent idea that will be the future decentralized digitization of everything

an excellent idea that will be the future decentralized digitization of everything

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Community greetings ... this global diera that we need innovation and trobosan leading to community success. The qualic in the quantity includes me, I might be the most fundamental to communities with the existence

Yeah it is stunning how fast we are shifting from a top-down model to a bottom-up model. The tail is wagging the dog now. It seems that people are too empowered these days to be controlled as easily as they were a few centuries ago.

There's way more opportunities to earn income, pay the bills, and live a full life without having to submit to power structures of government, careers/bosses, or even certain forms of organized religion. People are so much more free.

I've been watching and listening to Pal talk on Youtube from his home in the Cayman islands and I enjoy his insights as very informative.

Indeed Hive already has the community that interact more so than in other tokens without a social media platform that Hive offers. There are a few others like Voice, etc but Hive leads the way.

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