September21-Ownership Property Rights

Quote

“If a man owns a little property, that property is him/her.…it is part of him/her….in some ways s/he’s bigger because s/he owns it.” —John Steinbeck, The Grapes of Wrath

It means:

1. No one will take it away
2. You’re incentivized to make it better
3. If it gets better, the rewards are yours

Tokens let you own things in the digital world. Make them better with communities. And reap the rewards

Previously proven Ownernship Ideas

1. Big corps already own big parts of the Internet. Like landowners in the XIX century Latin America.

2. Tokens let smaller guys own small (often considered worthless) parts of the Internet and make them valuable. Like people in the XIX century North America

3. Digital Tokens represent 3rd stage of Creator Economy.
   • In Stage1: Companies create content and Companies earned money. e.g., Yahoo, AOL, NYT.
   • In Stage2: People create content. Companies earn money. e.g., FB, YT, Twitter.
   • In Stage3: People create content. People earn money.e.g., Substack, Patreon, BitClout.

4. What did web2 make possible? The bidirectional flow of information. What is web3 making possible? The bidirectional flow of value. In web2 land, value flows one way: to the platform. In web3 land, value will be accrued to users as well.

5. Digital wallets will accompany the tokenisation of the internet, and be so much more than what they are today - The new consumer data storage paradigm

6. Token holders share in the riches.Blockchain enables value transfer between a platform and its users. It’s a radical concept. As more users join a crypto platform, the value of the token increases. Why? Jurors need tokens to stake. Also, advertisers will need tokens to advertise.

When a token appreciates in value, it draws the attention of early speculators, developers and entrepreneurs. They become stakeholders in the protocol itself and are financially invested in its success. Then some of these early adopters, perhaps financed in part by the profits of getting in at the start, build products and services around the protocol, recognizing that its success would further increase the value of their tokens. Then some of these become successful and bring in new users to the network and perhaps VCs and other kinds of investors. This further increases the value of the tokens, which draws more attention from more entrepreneurs, which leads to more applications, and so on.

Ownership is a cornerstone of Western economies.

The Consequences Of Land Ownership

References

1. Articulation Courtersy Credit to: Maciej Budkowski
2. Why Crypto Matters Arun Rao
3. Internet stack - Thin & Fat Protocols Fat Protocols
4. Why you need Blockhain Balaji