0:09:00 – Greg board update – 3 resolutions: 1 – finalize equity and token distribution for DAASL, 2 – finalize equity and token distribution for RPC and 3 – extend the waving of payment requirements for new members in 2022. explanation of token and equity
0:09:55 – 20% of the token holdings from each subsidiary goes to the coop. Those are for RChain’s ongoing and continued support for both of those networks. After that, there is a distribution of token that is essentially the key stakeholder and employee pools that is taken off of the 80 percent. And then the remaining tokens are split in a particular way: 50% of the remaining pool goes back to the coop in exchange for 3/5 of the equity. Upon completion of the expected raises, 17.5% goes back to the coop again for support of the network and support of the fundraising activities.
0:13:53 – Jim – with the LCA structure… 015:57 – Greg – the overall model – RPC drives content to the network, once you have content, content drives eyeballs to the network, so that is where DAASL comes in. RPC and DAASL fit together in this way. Once you have both eyeballs and content, you will have transactions that involve multiple shards, once you have transactions that involve multiple shards, the REV becomes more valuable, so there is a virtuous ecosystem here that is being shepherded into existence. The aim is not just financial, the aim is to construct a virtuous ecosystem so that everything begins to get on the path of lifting each other up.
0:20:07 – Greg – RChain is presenting at Metaweek in Dubai Mar 8-9th.
0:20:57 – Darryl – “RChain and the Metaverse” speech. Metaweek conference in Dubai –
Metaweek conference in Dubai –
The Metaweek one pager says the following:
“Inside a Metaverse, users can share and store an unlimited amount of data, use self sovereign id’s, play games and earn and trade digital assets, create limitless digital art pieces and play with NFTs and virtual goods, launch marketplaces – you name it.”
To create metaverses for these kinds of heavy data centric transactions that require rapid results, we will need a layer 1 blockchain solution that can accommodate this. The solutions can’t rely on layer two technologies with hubs or rollups or parachains or the like.
The wondrous demands that metaverses will require will only be solved by a base layer blockchain solution that has been built from the ground up to accommodate these needs.
In addition, considering that the largest companies in the world are in a colossal race, spending billions of dollars secretively competing for the hardware / software solutions for the future of the metaverse, you will need a L1 blockchain platform that can actually scale as more load is put on the network.
So I think this is the message that we can bring to Metaweek. That RChain will be a leader at solving the problems that metaverses are demanding solutions for.
But lets dig a bit deeper, into RChain’s vision towards bringing together coordination technologies that help solve some of the world’s greatest problems and how it could be applied to the evolution of the metaverse.
RChain was built out of an open source social network project that had some audacious ambitions. Social networks will be moving to the metaverse in the coming years and will arguably have the potential to affect society’s evolution.
Because these are new worlds that humanity is building, the early architects of these worlds have the opportunity to affect the norms around how humans will interact with each other as the century unfolds. We could affect norms that encourage the importance of nurturing our meatspace worlds as we continually depends on virtual ones. We could create norms that involve social communities that foster collective intelligent decision making rather than amplify limbic system reactions around fear based disinformation mobs.We could create worlds, like Gene Rodenberry’s Star trek vision, as Greg has pointed out, where there is no money and no nations, or create worlds, like the early settlers in North America who treated the idea of property ownership as an absurd notion, and flourished under gift economies.
Currently, IMO, the norms that are forming are less than ideal. Due to the smart contract technical limitations of current layer 1 blockchains, only the tiniest bits of data, like deeds of ownership, can find their way onto the blockchain. These limitations have led to rampant speculative money being thrown at the very few current use cases for smart contract based layer 1 blockchain platforms. That is DeFi, NFT’s and now the growing list of metaverses popping up every week.
The monetization of these metaverses is almost exclusively focused on the notion of virtual property ownership. Like North America’s early pioneers, people are scrambling to stake their place in this new world with the visions of being mega rich landlords. I mean, who wouldn’t want to spend 450 grand on snatching up the neighbouring virtual property next to snoop dogg on the Sandbox? What an opportunity! It’s a no brainer.
So it is under this backdrop that I am curious about what RChain’s roles could be in what many are describing as the next evolution of the internet. How can we, as a collective group of humans, some of which among us are collective intelligence pioneers and early world wide web builders, build architectures that help influence the norms towards the metaverse being a more beneficial place for humanity during this ultra crucial metaverse birth phase?
0:26:56 – Jim – will need alot of layers…
0:29:19 – Community Week in Review
0:31:22 – Greg – frameworks for thinking about token management – observations about what is available to us for consideration when we think about token management…