Hi everyone, thanks for your interest and the insightful discussion, and sorry for the delayed response.
First it should be clarified that our protocol has nothing to do with voting. It is an instrument for the assessment of value, just as markets are, only in different environments. It is in fact not very democratic, but rather meritocratic and aims to compensate according to contribution.
Making decisions is actually not its main goal, rather it is a way to distribute equity of a decentralized organisation among those operating it - without having anyone in particular in charge of doing so.
If you will, you can regard it as a tool for an entrepreneur to hire a team - without to having to have a screening process or to negotiate wages - both emerge during the operation of the organisation: everyone can join, but only those aligned with the organisations values stay and are paid in equity - which grants them both influence and a share of the revenue created. During this process the influence of the initial entrepreneur is of course diluted - but not randomly, it is transferred to individuals that created value, in proportion to the value created.
This scheme is of course not perfect for everything, but it is to assume that many organisations would benefit from it, moreover, it could also be used as an algorithm for content curation or the creation of decentralized social network streams as our friends and partners from synerio intend to do.
Regarding our comments on bitcoin -
We used this example in order to demonstrate what could be done - not what HAS to be done. Bitcoin will find its way to get by and probably wont adopt our protocol, but future organisations might find our comments constructive.
I hope this was useful, I’ll be happy to answer further questions. If you’re interested you can reach us here:
Julian@backfeed.cc
or see what we have to say on twitter: @Backfeed_cc
So basically another one of those “crypto-equity” asset system which bitshares, nxt, cryptoparty, and T0 already exist but this one is autonomous. Neat.
@Backfeed_cc
Hi Julian, thanks for dropping by and taking time to clarify the purpose. Can you point us to where this is explained, and where we’d can find more detail about how it works, the protocol itself etc? I looked, not that hard, but found no obvious pointers to technical specs, models etc
The are a few people here who like to dig and will no doubt have more questions.
A system like this must replace the media. Of all things we cannot have media based sponsorship. Its gotten so bad that we now have what is know as native advertising where the sponsors directly ghost write the articles and editorials. We are facing increasingly sponsored search which is even less acceptable as its the antithesis of accurate or even honest search. We’ve never actually had open honest search that was widespread.
You could say that, but we believe that our algorithm is capable of more. We would like to see it powering decentralized versions of known PP platforms which currently operate in a centralized fashion. Think of ride-sharing without uber, where drivers and passenger are in direct contact without any intermediary. It could be used in any app that needs to determine the individual contribution to ask,
There’s even this idea: http://magazine.backfeed.cc/decentralized-autonomous-popcorn-time/
Hi,
These things are best understood when seen operating in the real world.
We are currently working on several proofs of concept and MVPs. Among other projects, we’re currently trying to decentralize the editing process of our magazine. When this function is online you will be able to see how influence and compensation are delegated automatically, and coordination emerges without there being a “coordinator”. Until then, we only have the mathematics. If you’re interested you can read a bit more about the economic modle we envision (link in the next message, can’t paste more than 2).
There’s also this summery.
Our complete whitepaper isn’t online yet, but it will be in a week or so, so if you interested in the technicalities, this would be a recommended read. Until then, here’s our github with the source code to some the MVP’s that already exist, like our slack extension
We’re now in the development phase of several PoC’s, so I would recommend you to subscribe to updates and we’ll give you a thumbs up when we have something new online. You can do so through the “Subscribe” option on the right side bar on our magazine.