We are just starting to see the beginning of the experimentation with an entirely new business model called the **decentralized autonomous organization (DAO). This is something very powerful that bears watching. This will likely be what takes over the 2020s.
With all that is going on, decentralization is going to be a key component going forward. There is no way we can continue to keep feeding an economic system which favors powerful lobbyists, encourages monopolies, and has corrupt politicians legislating protection for their friends.
We see how wealth inequality grew tremendously over the last few decades. The more financialized the system becomes, the slower the overall growth rate is. More money is locked in the banking and financial sector, providing them the opportunity to gobble up assets, earning tremendous returns.
As for everyone else, well sorry about your luck.
Cryptocurrency offers a new start in this regard. Through the tokenization process, we can see how an entirely new model is forming. This is based upon transparency, communal ownership, and free market principles that were so long erased from our present system.
Decentralized Ownership
One of the most important premises of the DAO is ownership.
Let us look at how the SpkNetwork, being developed by @threespeak, is being set up.
Who owns the network?
The answer is nobody. Or everybody. This is key. The developers are not the owners. There is no corporation, board, or founder's stake. We are seeing a token process evolve that is based upon one's holding of Hive. Those that claim the tokens, which are miners, will then be able to get the main platform token, the SPEAK.
Here is where the governance of the system comes in. The SPEAK token gives people influence on the network. This allows for decisions to be made as proposal systems evolve. No individual or board makes those choices. Rather it is up to the token holders to determine the direction of things.
Of course, this could be a farce if the token distribution is not truly decentralized. There are many projects that use tokens yet where a few people have like 60% of the total. That is not decentralized.
Also, with the claim-drop that is taking place, it is the LARYNX token that is being distributed. This is the miner. People are free to sell it or buy ones on the open market. Hence, the mining operation will see a different outcome than the drop.
Operates Solely In The Digital World
As mentioned in the article DAOs are going to really drive government nuts, we are entering a world where these entities are on completely foreign ground.
This situation certainly applies to the SpkNetwork. Since the ownership is distributed, there is not single point of access. Those with tokens are spread all over the world, often not even known.
More importantly, this DAO exists completely in the digital world. There is no physical footprint whatsoever. The headquarters are non-existent. Corporate structures are only in the virtual. There is not even a mailing address to send a postcard, let alone a summons.
It means that governments have no means to impede upon the operation of the DAO.
Competition is also stymied by the simple fact the network is a protocol. It is designed to have other operations built upon it. The feature set that is offered is to be duplicated many times over. Since we are dealing, in large part, to decentralized video storage, each entity built on top can mirror what is underlying.
The key will be, of course, the token distribution. If done in a decentralized manner, there will simply be more DAOs created on top of a platform that is the same.
In short, it is a system that is is resilient, horizonal in implementation, and basically basically autonomous once established.
Being Tied To Hive
One of the key features is that the network will integrate the Hive token as its trading pair in the liquidity pools. This is vital since it incorporates the system into the Hive blockchain, which is one of the most decentralized blockchains out there.
The fact that the operation of the token at the base layer is distributed means that we have more protection for the entire platform. With the 20 consensus Witnesses along with 80+ backups, we see nodes spread all over the world. Between the base operations and the token distribution, taking over the network is rather difficult.
This, naturally, makes anything tied into less susceptible to disruption from the outside.
Another key feature is that the entire network utilizes Hive's account management system. Since it is tied to the blockchain, nothing is centralized. All accounts are in full control of the owner, the one holding the keys.
What this means is that not only are videos protected since the hosting is decentralized but accounts cannot be shut down. Once an account is established, as long as someone has the keys, he or she is in full control of it.
Ultimately, as these ideas spread, we will see viable options to the established entities that now operate in a monopolistic fashion. YouTube is known to use its authority to eliminate anything it sees fit. It will haphazardly change the rules on payouts, affecting the livelihood of thousands with a recoding of an algorithm. At the same time, people are de-platformed if the content goes against what they want.
None of this exists with a DAO. Ultimately, we have networks forming within networks. Each community establishes its own network, built upon infrastructure that is decentralized and distributed.
DAOs are going to be a revolutionary force. They will be able to operate with greater transparency than we see now along with less outside interference. Anyone is free to get involved as long as he or she has stake in the network.
SpkNetwork is looking to change the video game. That was dominated by a single, centralized entity for more than a decade. When it comes to ownership on that platform, users have none. This DAO seeks to correct that.
The DAO is something that should not be underestimated. It is going to have profound impact and is only just starting to be explored by the cryptocurrency community.
Over time, this is really going to spread as people start to set up system that mirror what was described in here.
If you found this article informative, please give an upvote and rehive.
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I can't wait for speak network.. I'm so excited for what they have in store!
It is very exciting and patience is difficult. However, development takes time and they are working hard on getting things together.
This will be a major boom to Hive.
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Excellent points to consider. I would like to offer a challenge for your skills as a futurist. Given what you present here, consider another evolutionary process occurring in the cryptosphere and let us know what you see coming. The evolution I am referring to is the underlying protocol for the various types of blockchain, that is to say Proof of Work for Bitcoin, Proof of Stake for Ethereum and now Proof of Exchange for the CityCoin chain. I would also like to offer the idea of a new addition to this list for consideration, Proof of Engagement (as a potential protocol for tribal tokens established by communities in Hive or similar systems; e.g. Pizza, Beer or Proof of Brain). I would surmise that what you very rightly suggest regarding DAO's is directly affected by this evolutionary process.
I for one would love to hear your views on this. Keep up the excellent work.
Blessed be.
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Very interesting outlook. I am not sure that is on the blockchain level although I guess Proof-of-Brain does kind of do that.
What this does show, as a proof-of-concept if you will, is that we can reward behavior. So it could really apply to Proof of Whatever Activity. For example, there could be tokenization for kids doing extra chores around the house, for walking (@actifit), or eating healthy.
If we step back off your idea and look bigger, we see that the scope of what you propose could be much bigger. Certainly a catchy title would help.
In the end, engagement is a subset of that and the tokens you mention aid in that effort.
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Thanks for that. I really enjoy your perspective. As I told @tarazkp yesterday, I just set up a new community (LUAE - for Life, the Universe and Almost Everything) that I hope will become a CenterPoint for creating practical application projects that promote/enhance use cases for the positive change you and others showcase so well. The idea is to expand on the current capabilities of the Hive ecosystem to establish live video feeds in which the audience can participate in real time. This would give us a communications hub that will generate ideas that can be organized into working groups and projects (by recruiting the audience members who generate those ideas) and provide a source of crowdfunding to bootstrap projects.
My hope is that I can recruit current members such as yourself and @tarazkp to be the startup team for this project. This is what first drew me to join Hive. As you point out, the scope of potential here is staggering. My belief is that this project could accelerate the advancements you showcase so well by providing organization and coordination and using tokenomics to leverage crowdsourcing and crowdfunding.
Thanks again for your kind comments and for your insights.
Blessed be
Just let me know how I can help out.
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Not going to lie, I've been building out my video podcast studio in anticipation of the SpkNetwork along with PodPing. I would LOVE to see a horizontal DAO spun up across Spk that acted as a "Blockchain video game livestream repo" or something. With Play2Earn being a huge thing, I can only see stuff like blockchain gaming videos on the rise.
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It will be fun to see what is spun out of SpkNetwork once it goes live.
I have a feeling there is going to be a lot of innovation there. Of course, tying it to gaming could be huge.
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This could be another of those seminal moments in the history of HIVE. I don't think there's any question that it will take a lot of work and also quite a bit of time, but the ramifications for not just HIVE, but the entire world are astronomical.
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We seem to be having a lot of them brewing don't we?
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Didn't thought I would see a DAO on Hive for at least another year. This is great news and I cant' wait to see how all of it will unfold.
Is this a 3speak "exclusive" or will all users from across the Hive ecosystem be incentivized to participate?
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All users can participate, I think this is meant for users to truly own their content. Although I'm guessing the governance token might be given to hive holders, I'm not 100% sure
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The miners are going to be airdropped to the holders of Hive on a 1:1 basis from what we are told.
That will mine the governance token.
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Holders of Hive or HP? Or both? Because I usually stake my free hive...
Define incentivized?
There will be a claim drop on a 1:1 basis of LARYNX, the miners, for each Hive token held. That will make each person on Hive have stake in the new system. That is what leads to the production if the governance token, the SPEAK.
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That's exactly what I had in mind. Was wondering how they plan to get enough people involved. That sounds like a reasonable solution.
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Yeah they are spreading it wide. This is what is going to give it some legs to start.
A really exciting project.
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I have always loved LBRY. Yet I never HODLed LBRY. I don't have a stake in the project at the moment. SpkNetwork is a whole different story with the airdrop for HIVE users and knowing @theycallmedan and what he stand for. I have nothing but great hopes for the future. I downloaded the whitepaper and I'm on the way of reading through it.
!PIZZA
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Hopefully we will see LBRY and Bitchute end up utilizing the network.
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LBRY might focus on their own thing. Bitchute on the other hand must be on SpkNetwork or something similar. They are greatly vulnerable in terms of their infrastructure.
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Being acclimated to the status quo and abiding by it's norms; but never ever being a person that is comfortable with conformity, I can only be more than excited on the prospects of DAO. Actually, @taskmaster4450 you pretty much with this post magnified the power we will have being part of all this and how @threespeak will help fortify these platforms where freedom of content and views will be so hard to take away from us or suppress us long-term. Then add crypto to the mix, giving us power over our finances and in some cases; providing us with, at the very least; some leverage to have a say in all this. Totally stoked.
It does appear to be a game-changer, that is for sure.
We are going to see a great deal of options once that goes live. Everyone on Hive should be super excited about what we are going to be handed.
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DAOs are the digital future although the totalitarian and corrupt governments we live in will not make it easy.
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When the majority of the people realize there is a better way the Gov’ts of the world will have to go along for the ride. Blockchain can’t be stopped. Obviously politicos will try to cause issues but many will see the power they once had is no more.
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Yeah they will get steam rolled by this.
Few (not yourself), including politicians, realize how fast technology in general is moving. Then you couple that with blockchain and we are looking at an entire new playing field in about 5 years.
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We are not asking their permission.
And the most powerful government is admitting there is nothing they can do against decentralization.
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This is why I am putting my focus on creating videos for 3speak! I want to build a nice base before we go to the moon, 😂
Can't argue with that logic. Being a part early on and having a nice library when the masses show up could be a major benefit to us.
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It will be the ultimate infrastructure for Nfts with the combination of hive.
For games, access keys and so on. Cant wait for it :)
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They truly are building a broad platform that is going to handle much that is needed in the cryptocurrency world.
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Interesting. I am not great at making videos, but I will take a look at speak.
Looking forward to this as once it happens it will be easier to understand how this is going to all work. This is big development and one we have all been waiting for.
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Another great read. Very educational. Thanks.
!BBH
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This will be revolutionary as it spreads, it will be unreachable and it will be difficult for governments to control without depriving people of their civil liberties.
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A completely new business structure that is going to really drive governments nuts.
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The Spk networks is nice but I think it would probably be more of a side-lines thing for me since I am not making videos. Of course I do think it has a lot of potential.
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STOPThat was a nice project! But all of that will be useless if the user of hive is getting lesser because of the other person who is Downvoting the articles of other people.
Good luck to the project! More power!
How's your ETH mining Bot via click and referral coming along? enjoyed the payouts yet?