A maximalist vision for aligning
the global market proportionate to its participants.
And solving global warming.
We were convicts originally.
I love Australia + the world.
I love tech.
And I hate the Australian government.
(to a healthy convict extent)
We have two forms of leverage (our ability to influence):
Government is a market for public policy.
Majority parliament is majority democratic vote.
Price mechanism is votes.
But the incentives of the government are not completely aligned with the incentives of the voters.
Everything has value.
Most things are priced with currency.
Some things aren't:
ETHIC: Ethical value (life/property rights)
ENVIRON: Environmental value
SOCIET: Societal value (continued life on Earth)
If you're a government making a decision:
invade Iraq ($200M in oil)
or
abide by people's vote ($? in ETHIC) and satisfy democratic quorum (5M votes)
If you're a government making a decision:
let big oil tankers tredge through Great Barrier Reef (cost savings for them, $20M)
or
preserve this natural wonder, biodiversity ($X ENVIRON)
If you're a government making a decision:
preserve life on this planet ($X SOCIET)
or
continue business as usual (break-even)
Two problems:
1. Governments cannot justify the value of the better decision for the commons = because we cannot appraise its value
2. Citizens cannot exercise their effective leverage on a collective scale = capitalism works super well, but incentives could be aligned better
We don't need an exact theory.
We need a pragmatic solution.
1. We make decentralised forms of value for the commons using tokens.
2. We make every existing good and service into a token.
3. We make economic leverage a real economic purchase
We need to make tokens for:
Non-tangible: environment
Tangible: milk
How the fuck!??:
These questions are about trusting people to be reputable.
We don't need to answer these questions.
The market will answer them.
We need to make the mechanism for answering the questions fair.
That mechanism is reputation.
People decide on the terms of making the milk token.
The value of the token arises from barter-interactions.
(see further: SNP Platts & how the price of oil evolved).
The price mechanism of the token (its value) represents demand in the market. If it's bad milk, price signal of demand goes down.
How do we make "if it's bad milk" scalable to the ENTIRE world?
Also known as "scalable empathy".
📈 💑
Trust is reliability.
Trusting someone is reputable, means you can repeat liability on yourself that they will act reputably.
Liability = staking your EMP on someone else.
I call it "bonding".
How to mint token?
Basically minted whenever someone stakes their trust.
How to know how much we trust someone?
It's an algorithm for transitive trust:
ie. my trust in X is how much my friend trusts X by how much I trust my friend.
How do we normalise trust?
see next slide...
How do we stop massive mafia networks of trust?
= How do we ensure that I can't falsely inflate my reputation?
This is the key piece of the solution.
We use PageRank to normalise within the trust network by someone's weight of influence.
Part 1: Weights of trust
Think of it like a latin family.
Your grandma has the most weight, even more so than your band of cousins who each trust each other heaps. Because you grandma is trusted by every parent, who in turn every child trusts at least one of.
Part 2: Stopping the mafia
Imagine two groups: the people and the mafia.
The mafia wants to overrule the people.
They generate massive false networks of trust.
They bribe some people so that they begin to look credible.
as soon as one bad apple is bribed by the mafia, our transitive trust mechanism FAILS.
HOW DO WE SOLVE FOR LOVE!?!?!
Part 2: Stopping the mafia
Simple.
We tie everyone's trust to the trust in the network as a whole.
We normalise their "bonds" by their relative weight in the entire network (using PageRank).
Philosophy is relativist not absolutist.
We construct absolute metrics from relative measures.
We represent the environment as a DAICO.