A new paper on understanding V God "decentralized Society: looking for the soul of Web3"

Published on 6 Days ago   62 views   0 Comments  

Note: the original text is from bankless, written by William M. pest.

For the cryptocurrency and NFT market, this week is undoubtedly a downturn, but this is only a phenomenon in the market. In contrast, our ecosystem knowledge and Research Foundation seem to have just achieved a new and very meaningful leap.

This is because this week, Ethereum founder vitalik buterin, economist Glen Weyl and flashbots researcher puja ohlhaver jointly released《Decentralized Society: looking for the soul of Web3》This paper.

It is worth noting that the research core of this paper is aroundNon transferable "soul binding" NFT And vitalik buterin has been exploring this topic this year.

After reading this new paper, I think of my feeling when I first discovered Ethereum, that is, I am full of hope for a better future and believe that we have enough ideas and means to really start to realize it.

However, maybe you don't have much time to browse these more than 30 pages of papers, or you are a little confused about some of the concepts. never mind! Below, we will explain, summarize and quote some important ideas of the author of the paper, so that you can quickly understand the basic knowledge of decentralized Society (desoc).


Decentralized Society(DeSoc)Introduction


Main ideas:

  1. At present, Web3 mainly focuses on financialization and transferable assets.
  2. However, many mainstream economic behaviors (such as "unsecured loans and building personal brands") rely on non transferable social relationships, which are based on trust and will persist over time.
  3. The author proposes a non transferable soul binding token (SBT) held by "soul" (i.e. account) as a way to better encode the social relationship network in Web3.
  4. SBT will encode these relationships by tracking the "promises, certificates and connections" of the soul in the chain.
  5. The decentralized Society (desoc) will rely on SBT to allow "souls and communities to come together from bottom to top as each other's emerging attributes to jointly create a variety of network products and intelligence within a certain range."
  6. If continued, desoc could also pave the way for new property rights and governance mechanisms that "reward trust and cooperation while protecting the network from capture, extraction and domination."
  7. In a word, desoc points the current hyperfinancialization of Web3 to a "more transformative and diversified future of increasing returns according to social distance" (here's more aboutSocial distanceInformation for).

Soul and soul binding token (SBT)

  1. "Soul" is synonymous with accounts, wallets, etc.
  2. "Soul" can hold SBT, which is non transferable, potentially revocable, and initially public, after which private SBT use cases will become more feasible.
  3. SBT can track "affiliations, memberships, and certificates," such as "education certificates, work experience, or [...] Hash value of the work or artwork.
  4. SBTS can be issued by the soul itself, but importantly, they can also be certified by other souls who are "counterparties to these relationships".

Possible decentralized Society (desoc) use cases

artist

Artists can use their "soul" to publish NFT. By doing so, they can bet their reputation on their works in a direct and chain way. Artists can also create their own SBT for different purposes, such as linking their NFT to the collection on the chain to deepen the source. Therefore, SBT and the social networks they draw can help resist plagiarism, deep forgery and so on.

Unsecured loan

In the field of Web3's defi, the mortgage free lending use case is still clumsy, so SBT can be used to create a "anti censorship, bottom-up alternative to the top-down commercial and 'social' credit system"

What is the merit of this idea? SBT can be a way for people to use their reputation as collateral for loans without having to provide collateral for funds in advance.

The author wrote:


"Loans and lines of credit can be expressed as non transferable but revocable SBTS, so they are nested in other SBTS of the soul. Until they are repaid and then burned, or better yet, replaced by proof of repayment."

Social recovery

In Web3, you don't want to lose access to the wallet, because in the desoc environment, you will lose access to the "soul".

Social recovery wallets like argent allow you to rely on trusted relationships (i.e. guardians), which is the best choice for us to protect our Ethereum account for a long time. However, maintaining a closely connected group of active guardians may become boring over time, so "social recovery" through SBT may be a better choice.

Why do things turn out like this? Because SBT tracks your community, if you need to restore your "soul", SBT can be used to "use the widest range of real-time relationships to ensure security", not just a few guardians. Some implementation mechanisms still need to be developed, but this concept is certainly possible.

Soul airdrop

So far, airdrop has been a rather imprecise or inefficient way to cultivate new Web3 communities. In contrast, SBT can allow "Convening communities at unique soul intersections".

The author points out that:

"Soul airdrop is an airdrop method based on the calculation results of SBT and other tokens in the soul. For example, Dao who wants to convene the community in a specific L1 protocol can conduct soul airdrop to developers who have attended SBT for 3 of the last 5 meetings or other tokens reflecting the identity of the attendees (such as poap)."

Dao defense

Dao centered on community governance faces the threat of witch attacks, that is, users have multiple wallets to increase voting rights, and SBT will provide a way to defend against such attacks, because they can more easily separate "unique souls and possible robots" to reject "the voting rights of any soul that looks like a witch attacker".

Flexible property

Today, in most cases, NFT grants its owners the right to use, destroy or profit from assets at one time. But outside the NFT, it is difficult to find a situation where all these property rights are provided to a single owner. Consider how to use the apartment according to the lease, but don't destroy it, etc. Using SBT, you can not only imitate mainstream property methods, but also create novel methods for Web3. For example, the author mentioned the possibility of a local currency experiment in which SBT can make a currency more valuable for holding and consumption for souls living in a specific area or belonging to a specific community.


Why is a decentralized Society (desoc) important


"Web3 aspires to broadly change society, not just the financial system. However, today's social structures - families, churches, teams, companies, civil society, celebrities, democracy - are meaningless in a virtual world (often referred to as the" meta universe ") without primitives representing the human soul and the broader relationships they support. If Web3 eschews persistent identity, trust and cooperation models and composable rights and licenses, we will see witch attacks, collusion and the limited economic field of fully transferable private property, all of which will tend to"Super financialization"(hyper-financializationdevelopment.

In order to avoid super gold melting and release exponential growth, we propose to enhance and connect our sociality in virtual and physical reality, and give souls and communities the ability to encode rich social and economic relations. But it is not enough to build on trust and cooperation. Correcting the bias and tendency to over coordinate (or collude) between trust networks is essential to encourage more complex and diverse relationships that span greater social distances than before. We call it "decentralized society" (desoc): a jointly determined sociality in which souls and communities come together from bottom to top as each other's emerging attributes to produce diverse network products of different sizes.

We emphasize that multi network products are a feature of desoc, because the network is the most powerful engine of economic growth, but it is most easily captured by private participants (such as web2) and powerful government. The most significant economic growth comes from the increase of network revenue. Each additional unit of input will produce more output. [...] When it is neither pure public goods nor pure private goods, but partial and diversified shared goods, the network efficiency with increasing income is the highest. Desoc provides the social basis for decomposing and reallocating rights [...] and establishes effective governance mechanisms between these rights to enhance trust and cooperation, while checking collusion and capture. "


summary


At present, desoc is still just a concept and a research field, not something we can dig in the wild today.

However, through Ethereum and NFT, we already have the necessary infrastructure, and these technologies will continue to develop. Through this paper on "decentralized society", we have a basic blueprint, not to mention many projects are beginning to explore the NFT of soul binding.

"Ethereum is the Schelling point of hope.
An eternal, programmable and global financial and coordination foundation.
It is a bonfire that we can surround. We can use it to create a cyberpunk world and a solarpunk world.

I think critics and supporters often pay too much attention to today's Web3. Although this is completely reasonable and absolutely worth discussing and trying, in my opinion and many other dreamers, we can't help indulging in and imagining what's going to happen.

We still have a long way to go before desoc really comes, but after this paper comes out, we can feel more clearly than ever that the future of NFT will be broader and more social than many of us thought before.


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