Fun

News Feed - 2023-11-22 11:11:00

Mike Sarvodaya9 hours agoFormer Coinbase exec posits blockchain-driven vision of future societiesAttendees of the Network State Conference in Amsterdam believe that a new tomorrow is possible with decentralized technologies.6016 Total views16 Total sharesListen to article 0:00Event RecapJoin us on social networksThe Dutch city of Amsterdam — no stranger to international conferences dedicated to cryptocurrencies, blockchain and decentralization — was recently host to the Network State Conference, which explored decentralization at an entirely different level. 


Conference speakers and attendees gathered to discuss and debate whether a new form of decentralized country is possible.


The conference kicked off with an energetic host directing the crowd to chant and shout the title before Balaji Srinivasan, an entrepreneur, investor and former chief technology officer of Coinbase, entered to make his opening speech. During his initial remarks, Srinivasan asks, “Are new countries even possible?”Srinivasan delivered an opening address to the Network State Conference. Source: Cointelegraph


In his book The Network State, Srinivasan proposes that new countries are possible via a new type of digital community, where its members utilize blockchain and cryptocurrencies to host their social and economic institutions, and its borders lie at the extremes of the crowdfunded land owned by community nodes.


A node might begin with just a small group of friends, the idea being that this small community self-organizes to raise funds, expand and eventually form a viable network node. When you have several well-aligned community nodes, regardless of their geographical distribution, you have the foundations of a network state.


There are many goals among network state proponents, who mainly wish to construct a parallel social infrastructure as a “competing product” to what they see as the flawed systems of state-level social, political and economic institutions, thereby granting citizens of such nation-states the ability to opt-out should incumbent social structures prove insufficient for their needs and desires.


Ivy Astrix, a member of vibecamp and long-time supporter of Srinivasan, told Cointelegraph that disillusionment with the establishment was a common theme among attendees. “Can society, the U.S.A., these very coherent societies — still function? I think they can’t,” she said.


Amid this growing disenchantment with existing societal structures, Astrix said that network states “can improve ‘normal’ people’s lives [...] because they encourage a co-creation approach to life, instead of just slotting yourself into something that’s already here, just because its the ‘best’ or ‘least sucky’ option.”


Recent: Can blockchain supply the guardrails to keep AI on course?


The connection between network states and blockchain technology is undeniable, as both rely on autonomous nodes that come together to form a network with an agreed set of rules. For the network state concept, crypto rails are the gold standard of their ethos, especially concerning finance.


Frederik Zwilling of Galactica Network told Cointelegraph about the practicality of this union:“The users won’t go to the network state for itself unless there are a lot of benefits or things they want to do in this network state that attracts them.” 


Zwilling added that crypto-based, decentralized solutions are necessary for the governance of community groups — especially for those requiring analogs of nation-state-level social infrastructure.The physical implementation of a network state


The infrastructure development underpinning the network state concept is moving in multi-decade timeframes, with projects such as Prospera, Cabin and Praxis focusing on community-building, fundraising efforts and building physical locations (nodes) that might eventually form a real-world network state.Erick Brimen, the founder and CEO of Prospera, presented the project to attendees. Source: Cointelegraph


Many of the speakers have opened exploratory dialogues with various governments of existing nation-states regarding land ownership, borders and the formation of special economic zones. 


Still, no single community has achieved the level of autonomy from legacy systems espoused by proponents of the network state concept.


Prospera’s flagship startup city, St. John’s Bay, comes close to meeting these criteria but still falls mainly under the jurisdiction of traditional institutions, in this case, the Honduran government.


Establishing parallel societies is a task that will take decades to complete, and to reach the network effects required for a minimum-viable society, the process must begin with the kind of community building witnessed at the conference.


Given the early stage of network states, the quality of physical infrastructure is impressive, and the concept itself appears sound, but to scale beyond wealthy futurists taking over holiday resorts, a great deal more time, money and human infrastructure is required for opting out to become a viable choice.


The democratization of governance through technology, particularly that of blockchain, is a principal pillar of the network state concept and is critical to the real-world infrastructure presented at the conference.


Dom Ryder, founder of Vemp Studios, told Cointelegraph, “It’s about bringing ways to facilitate democracy and democratic values on an immutable and trustless blockchain; that is the obvious use case [of network states] to me.”


The challenge, as Ryder continued, is making the value of blockchain palpable to “normies” while divesting from the technology of its poor public perception and ensuring that its benefits are seamlessly integrated into the lives of regular people.Aligned individuals


One could be excused for thinking that many of the speakers at the Network State Conference were simply presenting novel methods of what essentially falls under the umbrella of “virtual community building,” but this line of thinking perhaps underrepresents the coherent yet flexible nature of their shared goals.


Network state proponents do not suggest a one-size-fits-all approach to social cohesion but rather an open system from which you get out what you put in, with as few intermediaries as possible between action and effect.


Community is the basic building block of all aspects of society, and it has been proven throughout history that a critical mass of community that holds a shared goal will, at the very least, arrive at the implementation stage of that goal. Success is never a given, but the power of network effects can not be denied.


The virtual communities present at the conference, from the X-based vibecamp, the decentralized autonomous organization infrastructure of Coordinape, and the full-blown digital nation-states of Plumia and the Galactica Network, all have in common a community-first approach to implementing their vision of a network state.


Those present are attempting to achieve the critical mass of humanity required for a parallel society to take shape and provide the necessary digital infrastructure to host some or all of humanity’s basic needs, be they financial, political or social.


Magazine: Breaking into Liberland: Dodging guards with inner-tubes, decoys and diplomats


The Network State Conference was a crucible for people and ideas that challenge the status quo and a small pitstop on the journey of human development.


A pragmatic mind might drift to the inescapable truth that a network state paradigm is contingent upon acceptance from or even the abject failure of current social infrastructures.


However, the sheer will and monumental human effort on show here gave reason enough to suspend disbelief — even if only temporarily.# Blockchain# Government# Technology# Adoption# Borderless TechnologyAdd reactionAdd reactionRead moreSpot Bitcoin ETF: Why this time is differentBinance’s DOJ settlement offers a glimmer of hope for the crypto industryCan blockchain solutions disrupt US inflation forecasting?

News Feed

Bitcoin Consolidates Below ATH – Buying Pressure Weakens As Equities Outperform
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
OFAC’s Tornado Cash Ban Causes Github Suspensions and the Blacklisting of Crypto Addresses Holding $437M
OFAC"s Tornado Cash Ban Causes Github Suspensions and the Blacklisting of Crypto Addresses Holding $437M On August 8, the ethereum mixing service Tornado Cash, and all the crypto a
HBAR To $2? Hedera Rides Real-World Asset Wave Toward Breakout
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
William Suberg8 hours agoBTC price returns key profit mark to Bitcoin exchange users at $34.7KBitcoin is busy setting records for various investor cohorts as BTC price strength keeps a longer-term recovery in place.4216
Turner Wright7 hours agoBinance Japan begins launching trading services for residentsThe Japan-based crypto exchange said it was offering spot trading for 34 tokens as of Aug. 1, with plans to migrate global Binance user
Poland Confirms Arrest of Former Wex Exchange Executive in Warsaw
Poland Confirms Arrest of Former Wex Exchange Executive in Warsaw Reports of the detention of Dmitry Vasiliev, ex-head of the bankrupt cryptocurrency exchange Wex, have been confir
Unnamed South African Investor Proposes Buying 51% Stake in Collapsed Crypto Firm for $5 Million
Unnamed South African Investor Proposes Buying 51% Stake in Collapsed Crypto Firm for $5 Million An unknown investor has proposed to acquire a 51% stake in Africrypt — the c
Japanese Court Convicts Bitcoin Tax Evader- Trader Gets a Year in Prison Plus Fine for $200K
Japanese Court Convicts Bitcoin Tax Evader- Trader Gets a Year in Prison Plus Fine for $200K Japanese authorities aren’t hesitating in hunting down anyone
Justin Sun Will Go to Space on Blue Origin Mission Taking 5 People With Him
Justin Sun Will Go to Space on Blue Origin Mission Taking 5 People With Him Justin Sun, the founder of Tron, a smart contract-enabled cryptocurrency platform, announced yesterday h
ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound ‘Crucially Depends on How the Conflict Evolves’
ECB to Cease Bond Purchases in Q3, Lagarde Says EU’s Economic Rebound "Crucially Depends on How the Conflict Evolves" After the inflation rate in the eurozone reached a high of 7
Biggest Movers: Tron Climbs to 5-Month High, With WAVES up 15%
Biggest Movers: Tron Climbs to 5-Month High, With WAVES up 15% Tron (TRX) rallied to a five-month high earlier in today’s session, as bulls continued to feed off recent news
David Attlee13 hours agoRipple’s major success in its court battle with the SEC: Law Decoded, July 10–17Ripple Labs scored a partial victory in its lengthy legal battle with the United States Securities and Exchange