Madhav GoyalHalo: A privacy layer for stablecoins
AbstractHalo is a privacy layer for stablecoins unlocking the next private neobanks and applications that were blocked by the lack of anonymity and confidentiality of networks. Halo Network introduces a new extension a a privacy-preserving EVM chain purpose-built for stablecoin use cases. Halo combines the familiarity and composability of the EVM with the confidentiality of a UTXO-based privacy layer, allowing users to transact and build privately without sacrificing interoperability or liqui...
Madhav Goyal🧊Solana::Leader schedule
I have been diving into Solana and its Validator code realizing the incredible design behind the selection of Validators and block producers, so here is a small rundownWhat are Blocks?What are POW and POS?Solana Leader ScheduleSpecial Considerations to produce the Tastiest BlockOpen QuestionsSome ResourcesBlocks wat?Blocks containing transactions and state transition data lined on top of one another with cryptography securing their computational integrity is the foundation of blockchain aka c...
Madhav GoyalMusings on Price Discovery
Musings on Price discoveryWith a fading bull run comes the pressure to do a token generation event at high valuations because otherwise if you are a VC backed project with 8 figs in funding, you are cooked without a binance listing since you definitely know your tech is only valued at the number of CEX listings and shady market makers you can get for the launch. Jokes and criticism aside, I have been diving into the price discovery for a mix of work and my own interests in the past few months...
Just a tinkerer in this wonderful world
Madhav GoyalHalo: A privacy layer for stablecoins
AbstractHalo is a privacy layer for stablecoins unlocking the next private neobanks and applications that were blocked by the lack of anonymity and confidentiality of networks. Halo Network introduces a new extension a a privacy-preserving EVM chain purpose-built for stablecoin use cases. Halo combines the familiarity and composability of the EVM with the confidentiality of a UTXO-based privacy layer, allowing users to transact and build privately without sacrificing interoperability or liqui...
Madhav Goyal🧊Solana::Leader schedule
I have been diving into Solana and its Validator code realizing the incredible design behind the selection of Validators and block producers, so here is a small rundownWhat are Blocks?What are POW and POS?Solana Leader ScheduleSpecial Considerations to produce the Tastiest BlockOpen QuestionsSome ResourcesBlocks wat?Blocks containing transactions and state transition data lined on top of one another with cryptography securing their computational integrity is the foundation of blockchain aka c...
Madhav GoyalMusings on Price Discovery
Musings on Price discoveryWith a fading bull run comes the pressure to do a token generation event at high valuations because otherwise if you are a VC backed project with 8 figs in funding, you are cooked without a binance listing since you definitely know your tech is only valued at the number of CEX listings and shady market makers you can get for the launch. Jokes and criticism aside, I have been diving into the price discovery for a mix of work and my own interests in the past few months...
Just a tinkerer in this wonderful world
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Is there any way to fix the broken web we have now? Can we have a better future where people own their thoughts and their interactions? To answer all that, we need to take a step back.
Trust: the most basic aspect of everything we have built as Humans. It's the quality that can change any Human into a loyal friend and an unvalued object to be worth millions. Our whole society stands on the trust we have built even though we might not be able to see and realize how we did so. It took us thousands of years to get ourselves to trust each other in larger groups and when it did happen we broke the barriers and made this world into what it is today. We might not recognize it and trust is not something concrete that we could measure or transfer, it's built on beliefs that we have. The truths and lies we tackled in our past and our understandings from them. We seek it everywhere and feel comfortable when we find it in unlikely places and most within Humans. The money that we use does not have value on its own, they are just a bunch of cotton notes, binary digits, and metal bars that have nothing peculiar in themselves, it is we who add value to them by trusting each other and coming to a consensus that this thing has value and trust that others would keep this immeasurable quality and hold onto it. We trust the grocer when we buy our food and believe that it's not something that could harm us, you may not even know the person you buy your food or meal from but it's not the trust in the person but the trust in humanity we have and a shared understanding of our humanity. We put our hard-earned money in the banks not because their interests can make us rich but because we feel safe when our money is with banks, it's the trust in the people.
The internet is the biggest show of trust ever Humans had. Billions of people interact with each other and share their lives. We meet people and form connections with them even though we might never meet them in real life, It's not the web of computers having a trusted protocol but the network of humans who believe that communicating with others over this virtual space could add value to their lives and maybe even have a positive effect on the world.
Having access to the knowledge Humans have built and given their lives for with just a small handheld device would have seemed the craziest thing even to Newton but it is a reality now and one of the most valuable things we have created- a space where people share their ideas, collaborate and make meaningful connections but there is an issue. The Trust we had made over decades and the work of thousands of engineers, scientists, and thinkers is being used for individual profit and having a severe effect on Humanity as a whole.
Whole militant organizations and terror groups have been started by tweets and chat groups. Riots all around the world are being started by the hatred of a few on the internet, the space which was meant to be peaceful once.
We gave away our data and privacy just for a few Facebook likes and hits. The shared idea network envisioned by the pioneers of the information revolution that could democratize access to education and finance is being turned into profit machines for a few who don't care if teens are getting depressed or whether someone might be vulnerable to abuse on their billion-dollar apps. We follow and try to be like people who are close to us, either famous or the masses, and to be like the famous and masses has never been easier, consumerism led by these profit machines is driving our planet to a crisis which we could have never thought. When we have lost the most important quality of Trust and legitimacy on the internet there needs to be something better to safeguard the collective interest other than just hoping that people who could be evil won't be but Blockchain gives us the opportunity to change everything.
We still have a chance to revive the vision and make the decentralized and open internet we hoped to make and Web3 gives us the chance to make our mistakes right. The biggest mistakes we made with the internet were
Centralized servers work as a honeypot for hackers finding ways to break the harmony.
Giving away our data for the services which were thought of as being "Free ".
Giving away the ownership of our ideas
Trusting middlemen who only cared about their interests.
Blockchain has the ability to solve these problems that have plagued us this whole time.
Blockchain is nothing but a Decentralized immutable permissionless ledger. When our trust in the big companies and governments has failed us, blockchain took the trust away from parties and instilled into the pure mathematics of Cryptography.
It's Open in the sense that anyone can view and take part in its functioning
Decentralized that it doesn't have a specific controller but contributors
Immutable because once the data is verified by the chain and can only be changed by sheer brute force compute would require the computing power beyond Human comprehension.
At the heart of the blockchain lie Smart contracts. Pieces of code that run on the blockchain and execute certain commands when specific conditions are met. They simply take the whole structure and how the internet works and put it in front of the people.
The biggest shortcoming of centralized internet was that the data and ideas we created were stored on servers owned by individuals or companies who could use it for their own purpose and will but Web3 takes that away and puts our activity and interactions on the immutable chain and links it to our home on the chain that can not be controlled by a single party, which makes us the owner of our own thoughts as it should be. it gives the right to free speech to everyone as it cannot be censored by any nation-state and upholds one of the most fundamental human rights.
This tweet by Chris Dixon sums one of the biggest insights up
https://twitter.com/cdixon/status/1490866307599794180?ref_src=twsrc%5Etfw
The most fundamental property and superpower of the web are its peer-to-peer connections which were not cited enough in the age of Social media where what mattered the most was just an illusion and distraction. The internet has been owned by large corporations and parties who did it for their interest, not for the good of the public but web3 is run by the people for the people which makes it the natural democratic platform where anyone can have as much say as someone who came before them or after them.
The biggest mantra of web3
Less than 10% of the artist make a living wage from the money they earn from Spotify streams and in all this Spotify makes billions of dollars ripping their biggest assets the artists. Though Spotify did make it easy for anyone to listen to the music and help the musicians reach more people but did it really help them in a way that would have really valued their art?
Web3 and blockchain have totally changed the scene by introducing art turned into blockchain tokens through which artists make near to 95% percent of their sold arts and make the subsequent cut when it's traded and sold. Tokens have emerged as one of the biggest bets of web3 because of their applications. The biggest lesson taught by web3 is the eradication of Middlemen can have a huge impact on the trust and relationship between the creator and consumer. You are the one writing the book and selling it directly to the customer without any strings attached. Because of its alignment with the basic democratic values, its also called the Aligned Web.
Tokens are like coins in web3 whose ownership is mapped on the blockchain. There can be fungible and non-fungible tokens or NFTs which are unique and can only have one owner at a time. As everything is on the immutable chain, you cant lose your collectible or art and no one can take it away from you. NFTs are tokens that we can use to represent ownership of unique items––art, collectibles, real estate, and our imagination is the limit. The optimism of the NFTs has taken the world by storm and benefiting from it the most are artists and creators, not some middlemen exploiting the chance.
Writers who used to publish their ideas through newspapers and magazines where they were only thought to be a part of the supply chain are now able to own their ideas by projects like Mirror where anyone can publish their ideas on the blockchain and once published the ideas can not be deleted and censored by anyone, not even the platform itself. It has helped writers who needed a platform where they could speak against the power and be free from the fear of it being taken down. An accomplished writer, Communicator, a teen blogger like me can now publish whatever we want without paying a penny to the platform for publishing and make a living by turning our writings into NFTs and hosting Crowdfunds where the money is directly sent to the wallets of the people who deserve, unlike the older web where services like the Facebook market place and eBay took huge cuts just because they had the monopoly.
Harsh comments and Racist discussions have made the internet the dangerous place it is today but web3 could totally upend the situation. Most of these crimes and wrongdoings happen because people don't have accountability on social media platforms. This makes them free of any moral duty but when your interactions are linked to your address on the blockchain and can not be deleted, people have to be conscious about what they are doing. It's not just about the wrong things we say but also the good stuff that forms when good Humans interact with each other. Lens Protocol is trying to solve the problem and trying to bring virtual social interactions on blockchain and decentralized web.
Breaking the barriers of the old banking system by providing a Global decentralized financial system that is a million times faster and more accessible than the legacy industries is uprooting the system, and Defi is at the core of it. Defi means Decentralized Finance in which there are no physical banks and people holding your money but smart contracts that run the blockchain and are open source which means that anyone could audit them and see how they work.
Older banking systems deprived billions of people of having basic financial services because of the lack of their accessibility. For opening up a bank account you need tons of verification and share your intimate information with others and have to pay fees to make fixed deposits which are totally unviable for someone who just makes 2 square meals a day. For opening up a crypto Wallet you don't need any kind of government-issued ID which is rare to find in rural and undeveloped areas. No one needs to go to the bank for a transaction or wait days for an international transfer to go through. Anyone can send money to anyone anywhere without going through Gatekeepers. You can swap cryptocurrencies with the help of open protocols like Uniswap and get loans from Decentralized Apps aka Dapps like Yearn. Earn Money by staking into liquidity pools At Compound
You might be thinking well you have gotta have a big computer and superfast network to do so but here comes the part where I tell you absolutely not. All of this can be done on a mobile phone with less than 1 kb/s of data without any issues anywhere in the world no matter proximity.
Defi and web3 have the potential to completely replace older banking systems not just because they solve the problems we had with older institutions but because they unlock the most crucial feature - Transparency which was not cared about before and is only looked for when something big and bad happens.
Web3 is nothing but human interactions on a decentralized ledger rather than a centralized base. A provocation is how could it fulfill the promises and the hype there is? One of the greatest abilities of Humanity is our power to cooperate and coordinate with each other for a common or shared goal. It has helped us defeat hunters larger and more powerful than us and face some existential threats humanity has seen over the millennia.
We want to do a lot of good things as a society and prevent bad things from happening and causing harm but it doesn't seem that we are able to put it into action in the real world. No citizen wanted and wants a Nuclear war or Invasion of another country then why are they still happening and fear of them happening is still there? It's all because we are not able to coordinate for the interest of Human Society. If Humans could together pressurize governments together there would be no bad governments.
As the Gitcoin founder Kevin Owocki Says "It's all coordination and it always has been ". Kevin's Talk on coordination totally changed my perspective of Human interactions as a whole. This talk might be just 20 mins long but has the wisdom of a hundred books.
There is a limit to which we can coordinate with people effectively on a shared goal and blockchain could help us scale that number to magnitudes and when more people work with better coordination, magic happens.Web3 and blockchain have the power to help us work on our collective interest and decrease miscommunication. We don't know what would happen if we are able to form stable relationships with more people across the world, it might lead us to accomplish wonders we might have never even thought of.
One of the best approaches to coordination that is having a tremendous impact is in the form of a DAO. A DAO is a Decentralized Autonomous organization where there is no management or hierarchies, just tasks. Decisions are taken by voting on proposals through verifiable Blockchain assets like Tokens and NFTs. People are brought together by interest and usually have no obligations. DAOs are institutions and people interact through the Smart Contracts where there are no CEOs or central powers which helps solve the trust issues for new founding organizations.
There are a million upsides of this approach-
People are able to work across Timezones without the need for physical proximity.
All the activity is transparent and can not be manipulated.
Trust on the open code, not people who might work for their own interest.
Tackling some of the most important problems and goals that would have been impossible with older ways is becoming within our reach now.
Carbon Credits are one of the most important paths for reducing and ensuring offsetting the carbon added to the earth by Humans but the biggest problem is the quality and verifiability of the credits which lead to reduced efficiency and break down of trust.
KlimaDAO is trying to solve this by making blockchain verified carbon assets which ensures that the same credits are not bought twice and maintain their qualities.
The world works on open source software but it is severely underfunded. 99% of the code out there that runs the world is made by people who didn't have the intention to earn from it but what if we could incentivize them? There could be a huge leap in the innovation of Public goods and open source information.
This is what GitcoinDAO is trying to do with its more than a hundred thousand member base.
All of this is great but there needs to be an emphasis on the education of these revolutionary technologies and we need to make our next generation ready for this coming decentralization revolution, this is specifically what the Dream DAO which I am a part of is trying to do.
We are trying to Provide Gen Zers like me the education and funding we need to build a better web3 world. It is funded by the sale of SkywalkerZ NFTs and for every SkyWalkerZ bought by a person, one is given to a GenZer so as to maintain the equilibrium of power in the DAO. Here is mine check it out
https://opensea.io/assets/0xa650a0661ad3cf8a4dc55505bc56e80f100b6e5e/303/
The Plan is to start an Explorers Program where GenZ members named the builders will be going through an intensive 4-6 months long fellowship where they will learn about web3 and the tools needed to shape it.
After the program they will be eligible for grants to explore the space on their own and funding will be provided for their ideas and projects.
The thought that web3 could help thousands of people work together coherently is becoming a reality but what if we could scale that to millions of people and might be able to implement direct democracies with the help of Tokens and Blockchain? This is a topic on its own and will leave that for you to think about, a future where everyone has a direct say in the policies and proposals that affect them. Where the government is transparent and can not be tampered with. Where the government not like in 1984 has the power but the people. Where we have realized that optimism is the only way to move forward and we through this newly given power of Exponential technologies make our world the place that is better for everyone. This vision of a utopia could be nothing but Solarpunk.
*
PS: This is the longest blog post I have written ever and it was a fun ride writing one. Hope that you liked it and will leave further resources for if you want to dive deeper into the world of web3. If you want to show a gesture of appreciation you could buy me a book because books are the places where I find most of my ideas.
One of the best places to start learning about web3: https://mirror.xyz/kapslap.eth/jsXyWQAqc3cXJeYGzaUBkQblTuob8FUwJMkUgfaotjw
Probably one of the most thought-provoking books on blockchain
Is there any way to fix the broken web we have now? Can we have a better future where people own their thoughts and their interactions? To answer all that, we need to take a step back.
Trust: the most basic aspect of everything we have built as Humans. It's the quality that can change any Human into a loyal friend and an unvalued object to be worth millions. Our whole society stands on the trust we have built even though we might not be able to see and realize how we did so. It took us thousands of years to get ourselves to trust each other in larger groups and when it did happen we broke the barriers and made this world into what it is today. We might not recognize it and trust is not something concrete that we could measure or transfer, it's built on beliefs that we have. The truths and lies we tackled in our past and our understandings from them. We seek it everywhere and feel comfortable when we find it in unlikely places and most within Humans. The money that we use does not have value on its own, they are just a bunch of cotton notes, binary digits, and metal bars that have nothing peculiar in themselves, it is we who add value to them by trusting each other and coming to a consensus that this thing has value and trust that others would keep this immeasurable quality and hold onto it. We trust the grocer when we buy our food and believe that it's not something that could harm us, you may not even know the person you buy your food or meal from but it's not the trust in the person but the trust in humanity we have and a shared understanding of our humanity. We put our hard-earned money in the banks not because their interests can make us rich but because we feel safe when our money is with banks, it's the trust in the people.
The internet is the biggest show of trust ever Humans had. Billions of people interact with each other and share their lives. We meet people and form connections with them even though we might never meet them in real life, It's not the web of computers having a trusted protocol but the network of humans who believe that communicating with others over this virtual space could add value to their lives and maybe even have a positive effect on the world.
Having access to the knowledge Humans have built and given their lives for with just a small handheld device would have seemed the craziest thing even to Newton but it is a reality now and one of the most valuable things we have created- a space where people share their ideas, collaborate and make meaningful connections but there is an issue. The Trust we had made over decades and the work of thousands of engineers, scientists, and thinkers is being used for individual profit and having a severe effect on Humanity as a whole.
Whole militant organizations and terror groups have been started by tweets and chat groups. Riots all around the world are being started by the hatred of a few on the internet, the space which was meant to be peaceful once.
We gave away our data and privacy just for a few Facebook likes and hits. The shared idea network envisioned by the pioneers of the information revolution that could democratize access to education and finance is being turned into profit machines for a few who don't care if teens are getting depressed or whether someone might be vulnerable to abuse on their billion-dollar apps. We follow and try to be like people who are close to us, either famous or the masses, and to be like the famous and masses has never been easier, consumerism led by these profit machines is driving our planet to a crisis which we could have never thought. When we have lost the most important quality of Trust and legitimacy on the internet there needs to be something better to safeguard the collective interest other than just hoping that people who could be evil won't be but Blockchain gives us the opportunity to change everything.
We still have a chance to revive the vision and make the decentralized and open internet we hoped to make and Web3 gives us the chance to make our mistakes right. The biggest mistakes we made with the internet were
Centralized servers work as a honeypot for hackers finding ways to break the harmony.
Giving away our data for the services which were thought of as being "Free ".
Giving away the ownership of our ideas
Trusting middlemen who only cared about their interests.
Blockchain has the ability to solve these problems that have plagued us this whole time.
Blockchain is nothing but a Decentralized immutable permissionless ledger. When our trust in the big companies and governments has failed us, blockchain took the trust away from parties and instilled into the pure mathematics of Cryptography.
It's Open in the sense that anyone can view and take part in its functioning
Decentralized that it doesn't have a specific controller but contributors
Immutable because once the data is verified by the chain and can only be changed by sheer brute force compute would require the computing power beyond Human comprehension.
At the heart of the blockchain lie Smart contracts. Pieces of code that run on the blockchain and execute certain commands when specific conditions are met. They simply take the whole structure and how the internet works and put it in front of the people.
The biggest shortcoming of centralized internet was that the data and ideas we created were stored on servers owned by individuals or companies who could use it for their own purpose and will but Web3 takes that away and puts our activity and interactions on the immutable chain and links it to our home on the chain that can not be controlled by a single party, which makes us the owner of our own thoughts as it should be. it gives the right to free speech to everyone as it cannot be censored by any nation-state and upholds one of the most fundamental human rights.
This tweet by Chris Dixon sums one of the biggest insights up
https://twitter.com/cdixon/status/1490866307599794180?ref_src=twsrc%5Etfw
The most fundamental property and superpower of the web are its peer-to-peer connections which were not cited enough in the age of Social media where what mattered the most was just an illusion and distraction. The internet has been owned by large corporations and parties who did it for their interest, not for the good of the public but web3 is run by the people for the people which makes it the natural democratic platform where anyone can have as much say as someone who came before them or after them.
The biggest mantra of web3
Less than 10% of the artist make a living wage from the money they earn from Spotify streams and in all this Spotify makes billions of dollars ripping their biggest assets the artists. Though Spotify did make it easy for anyone to listen to the music and help the musicians reach more people but did it really help them in a way that would have really valued their art?
Web3 and blockchain have totally changed the scene by introducing art turned into blockchain tokens through which artists make near to 95% percent of their sold arts and make the subsequent cut when it's traded and sold. Tokens have emerged as one of the biggest bets of web3 because of their applications. The biggest lesson taught by web3 is the eradication of Middlemen can have a huge impact on the trust and relationship between the creator and consumer. You are the one writing the book and selling it directly to the customer without any strings attached. Because of its alignment with the basic democratic values, its also called the Aligned Web.
Tokens are like coins in web3 whose ownership is mapped on the blockchain. There can be fungible and non-fungible tokens or NFTs which are unique and can only have one owner at a time. As everything is on the immutable chain, you cant lose your collectible or art and no one can take it away from you. NFTs are tokens that we can use to represent ownership of unique items––art, collectibles, real estate, and our imagination is the limit. The optimism of the NFTs has taken the world by storm and benefiting from it the most are artists and creators, not some middlemen exploiting the chance.
Writers who used to publish their ideas through newspapers and magazines where they were only thought to be a part of the supply chain are now able to own their ideas by projects like Mirror where anyone can publish their ideas on the blockchain and once published the ideas can not be deleted and censored by anyone, not even the platform itself. It has helped writers who needed a platform where they could speak against the power and be free from the fear of it being taken down. An accomplished writer, Communicator, a teen blogger like me can now publish whatever we want without paying a penny to the platform for publishing and make a living by turning our writings into NFTs and hosting Crowdfunds where the money is directly sent to the wallets of the people who deserve, unlike the older web where services like the Facebook market place and eBay took huge cuts just because they had the monopoly.
Harsh comments and Racist discussions have made the internet the dangerous place it is today but web3 could totally upend the situation. Most of these crimes and wrongdoings happen because people don't have accountability on social media platforms. This makes them free of any moral duty but when your interactions are linked to your address on the blockchain and can not be deleted, people have to be conscious about what they are doing. It's not just about the wrong things we say but also the good stuff that forms when good Humans interact with each other. Lens Protocol is trying to solve the problem and trying to bring virtual social interactions on blockchain and decentralized web.
Breaking the barriers of the old banking system by providing a Global decentralized financial system that is a million times faster and more accessible than the legacy industries is uprooting the system, and Defi is at the core of it. Defi means Decentralized Finance in which there are no physical banks and people holding your money but smart contracts that run the blockchain and are open source which means that anyone could audit them and see how they work.
Older banking systems deprived billions of people of having basic financial services because of the lack of their accessibility. For opening up a bank account you need tons of verification and share your intimate information with others and have to pay fees to make fixed deposits which are totally unviable for someone who just makes 2 square meals a day. For opening up a crypto Wallet you don't need any kind of government-issued ID which is rare to find in rural and undeveloped areas. No one needs to go to the bank for a transaction or wait days for an international transfer to go through. Anyone can send money to anyone anywhere without going through Gatekeepers. You can swap cryptocurrencies with the help of open protocols like Uniswap and get loans from Decentralized Apps aka Dapps like Yearn. Earn Money by staking into liquidity pools At Compound
You might be thinking well you have gotta have a big computer and superfast network to do so but here comes the part where I tell you absolutely not. All of this can be done on a mobile phone with less than 1 kb/s of data without any issues anywhere in the world no matter proximity.
Defi and web3 have the potential to completely replace older banking systems not just because they solve the problems we had with older institutions but because they unlock the most crucial feature - Transparency which was not cared about before and is only looked for when something big and bad happens.
Web3 is nothing but human interactions on a decentralized ledger rather than a centralized base. A provocation is how could it fulfill the promises and the hype there is? One of the greatest abilities of Humanity is our power to cooperate and coordinate with each other for a common or shared goal. It has helped us defeat hunters larger and more powerful than us and face some existential threats humanity has seen over the millennia.
We want to do a lot of good things as a society and prevent bad things from happening and causing harm but it doesn't seem that we are able to put it into action in the real world. No citizen wanted and wants a Nuclear war or Invasion of another country then why are they still happening and fear of them happening is still there? It's all because we are not able to coordinate for the interest of Human Society. If Humans could together pressurize governments together there would be no bad governments.
As the Gitcoin founder Kevin Owocki Says "It's all coordination and it always has been ". Kevin's Talk on coordination totally changed my perspective of Human interactions as a whole. This talk might be just 20 mins long but has the wisdom of a hundred books.
There is a limit to which we can coordinate with people effectively on a shared goal and blockchain could help us scale that number to magnitudes and when more people work with better coordination, magic happens.Web3 and blockchain have the power to help us work on our collective interest and decrease miscommunication. We don't know what would happen if we are able to form stable relationships with more people across the world, it might lead us to accomplish wonders we might have never even thought of.
One of the best approaches to coordination that is having a tremendous impact is in the form of a DAO. A DAO is a Decentralized Autonomous organization where there is no management or hierarchies, just tasks. Decisions are taken by voting on proposals through verifiable Blockchain assets like Tokens and NFTs. People are brought together by interest and usually have no obligations. DAOs are institutions and people interact through the Smart Contracts where there are no CEOs or central powers which helps solve the trust issues for new founding organizations.
There are a million upsides of this approach-
People are able to work across Timezones without the need for physical proximity.
All the activity is transparent and can not be manipulated.
Trust on the open code, not people who might work for their own interest.
Tackling some of the most important problems and goals that would have been impossible with older ways is becoming within our reach now.
Carbon Credits are one of the most important paths for reducing and ensuring offsetting the carbon added to the earth by Humans but the biggest problem is the quality and verifiability of the credits which lead to reduced efficiency and break down of trust.
KlimaDAO is trying to solve this by making blockchain verified carbon assets which ensures that the same credits are not bought twice and maintain their qualities.
The world works on open source software but it is severely underfunded. 99% of the code out there that runs the world is made by people who didn't have the intention to earn from it but what if we could incentivize them? There could be a huge leap in the innovation of Public goods and open source information.
This is what GitcoinDAO is trying to do with its more than a hundred thousand member base.
All of this is great but there needs to be an emphasis on the education of these revolutionary technologies and we need to make our next generation ready for this coming decentralization revolution, this is specifically what the Dream DAO which I am a part of is trying to do.
We are trying to Provide Gen Zers like me the education and funding we need to build a better web3 world. It is funded by the sale of SkywalkerZ NFTs and for every SkyWalkerZ bought by a person, one is given to a GenZer so as to maintain the equilibrium of power in the DAO. Here is mine check it out
https://opensea.io/assets/0xa650a0661ad3cf8a4dc55505bc56e80f100b6e5e/303/
The Plan is to start an Explorers Program where GenZ members named the builders will be going through an intensive 4-6 months long fellowship where they will learn about web3 and the tools needed to shape it.
After the program they will be eligible for grants to explore the space on their own and funding will be provided for their ideas and projects.
The thought that web3 could help thousands of people work together coherently is becoming a reality but what if we could scale that to millions of people and might be able to implement direct democracies with the help of Tokens and Blockchain? This is a topic on its own and will leave that for you to think about, a future where everyone has a direct say in the policies and proposals that affect them. Where the government is transparent and can not be tampered with. Where the government not like in 1984 has the power but the people. Where we have realized that optimism is the only way to move forward and we through this newly given power of Exponential technologies make our world the place that is better for everyone. This vision of a utopia could be nothing but Solarpunk.
*
PS: This is the longest blog post I have written ever and it was a fun ride writing one. Hope that you liked it and will leave further resources for if you want to dive deeper into the world of web3. If you want to show a gesture of appreciation you could buy me a book because books are the places where I find most of my ideas.
One of the best places to start learning about web3: https://mirror.xyz/kapslap.eth/jsXyWQAqc3cXJeYGzaUBkQblTuob8FUwJMkUgfaotjw
Probably one of the most thought-provoking books on blockchain
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