Problem Statement

Unethical Capital Accumulation (capital accumulated through labor exploitation and not reinvested / equitably distributed) is the root of all evils, such as Inequality and everything that stems from that.

This can't be solved without understanding value in its most fundamental form. Is it labor-based or market-based or something better ? Read along!

Problem Explained

Value Creation vs Value Extraction

People who help create something out of nothing are usually given the short end of the stick as the game (high leverage capitalism)* is set up like that. Not to diss capitalism. Capitalism - the giant Von Neumann game ** - is a mathematical marvel that gamified capital accumulation to what it is now!

**HighLeverageCapitalism
*Capital Ideas Evolving - Preface XV

Players of the game

But the game is played by only a very small % of the population.
For eg: Only 10% of the 3.7% Indian population have F & O (Futures & Options) exposure.


In simple terms, out of 100 employed/working people 99 are working for a yearly hike of 5 - 15% whilst the rest 1 knows how to use the stock market to leverage the work done by the 99 and make more than everyone combined. Atrocious, yes but that's how the game is set. Don't hate the player hate the game right?

source: Business Standard , CNBC

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The Market Solution - Cryptocurrencies

Cut the Middleman

Cryptocurrency the Solution ?

NO.

Bitcoin Whitepaper's first sentence:
"The first purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution."
Satoshi knew the purpose of Bitcoin, frictionless capital movement with transparency as its fundamental building block.
But Charlatans and Quick Money makers wanted to project it as a silver bullet to fix the economy.

The Transaction remains the same. Take any Layer 1 protocol (Bitcoin/ Ethereum / Avalanche etc)

The capital movement, "value exchange protocol" as we call it, remains the same.
"
From:
To:
Value / Money to be sent:
Cost of transaction:
"

Adding Fuel to the Fire

Thus Cryptocurrency has only accelerated the problem.

  1. Crypto Exchanges operate 24*7
  2. Crypto exchanges offer 100x leverage, whereas, in regulated & centralized exchanges, it's capped at 20 - 50x depending on the country you're trading in. You see the risk.

Learnings from Cryptocurrencies

  1. Technology (BlockChain) empowers the common person to question the centralization/power accumulation of institutions (state)!
  2. If incentives are aligned new institutions can be created (DAOs)

How do we solve the problem?

Fundamentally Rethinking Value with what's common to all, TIME.
Leverage the power of Cryptocurrencies for frictionless capital movement (if needed)

Call Cryptocurrencies what they are - Value Exchange Protocols. If transaction rate, finality, and energy consumption are the issues, we can rely on UPI (United Payments Interface), which is way more reliable, scalable, and stable.
If centralization and frictions are the issues, we can rely on Cryptos.

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The frictionless Capital movement (Value Exchange) is solved, so let's focus on the other two factors of production - labor and productivity to capture value better!

Output ~ f (capital, labor and productivity)
-CobbDouglas Production Function

The OpenProtocol Stack

Value Capture Protocol to capture Transactions

Time is the most common factor across the globe.

How that time is spent and what it is spent on, and what's the worth of the output and who is spending that time.

Wellbeing Protocol to incentivize becoming a Virtuous Human | "The Who"

Moving away from productivity to well-being and quantifying it with more public involvement. Thus incentivizing well-being pursuit.

DAOcommons Protocol for BlockCreation & Incentive alignments |
"The Labour Output and What's Labour Output's worth"

Build Institutions built on Labour with equity (NOT equality) as a founding principle, so value distribution is taken care of in an equitable way. Thus making such institutions promote frictionless skill movement.

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The Protocol Stack - DeepDive

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ValueCapture Protocol

A complementary protocol to value exchange protocols such as Bitcoin, Ethereum, UPI, etc.
The ValueCapture Protocol captures who has done what, and what's the value of what's being done. A ProofOfWork, quite literally!

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Wellbeing Protocol

Wellbeing Quantified - The Balance between Science & Spirituality /Mysticism.
Wellbeing ~ f ( Physiology, Emotions, Feelings, Thoughts, Habits, and Performance).

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DAOcommons Protocol

An open Protocol that enables sustainable decentralized organizations to be built. The protocol is a set of recommendations and rules that outline specific skilling, demand generation, and operational standards that can be adopted for a specific skill segment, irrespective of religion, gender, race, nationality, and any human-made categorizations.
DAOcommons for "skill-based organization-building" is what HTTP is for the world wide web and SMTP is for emails and Bitcoin is for value exchange.

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The OpenProtocolStack (evolving) is an output of the below Experiments (Own Data from running Skill-based Communities), Primary Research & Secondary Research.

We believe in Systems Modeling so faster feedback loops were engineered to arrive at TheOpenProtocolStack after 4.5 years (As of March31-2023) of Researching and Building!


Given below is our ProofOfWork (Literal, not a Hash function trying to find a NONCE)

DAOcommons protocol is an output of experimenting with following skill based communities.

6Communities
>3,000Members
18B2B Clients
>280Events
9Fellowships
6Challenges

Wellbeing Protocol is an output of our primary research and experimenting on ourselves

4,060Gig Workers Interviews
50Industry Expert Interviews
3yearsPersonal Experiments