Difference between revisions of "Backfeed"

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=More Information=
 
=More Information=
  
More at The [[Blockchain Applications Directory]]
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More at The [[Blockchain Applications Directory]]  
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Article: Pazaitis, A., De Filippi, P. & Kostakis, V. (2017) Blockchain and value systems in the sharing economy: The illustrative case of Backfeed. ''Technological Forecasting & Social Change'' (in press), available at: http://www.sciencedirect.com/science/article/pii/S0040162517307084.
  
 
[[Category:Cryptoledger Applications]]
 
[[Category:Cryptoledger Applications]]

Revision as of 13:13, 13 June 2017

= Backfeed develops foundational tools for Decentralized Collaborative Organizations, syncing the spontaneous actions of millions of people to promote an era of collaboration and decentralized value production.

URL = http://backfeed.cc

"A Social Operating System for Decentralized Organizations": Backfeed builds tools that enable large-scale, free and systematic cooperation between thousands of people without the coordination of any central authority.


Description

1.

"Facebook owned by its users, decentralized transportation networks independent of Uber, markets dominated by open-source communities where contributors are also shareholders, and where the value created is redistributed both fairly and transparently. Imagine the innovative potential of such organisations decoupled from the rigidities of hierarchical structures.

Backfeed’s infrastructure comprises decentralized management tools, equity-sharing schemes, crowdsourcing mechanisms, and instruments for the collaborative evaluation and curation of content.

The Backfeed protocol can fuel a variety of ventures, including decentralized journalism, insurance, ride-sharing applications and any other enterprise that would benefit from the decentralized, indirect coordination of large groups of individuals.

Our goal is to enable the bootstrapping of decentralized organizations on top of the blockchain as easily as one would deploy a website today."


2.

"Backfeed is a platform to create platform cooperatives, all powered by the blockchain. Backfeed bills itself as, "a social operating system for decentralized organizations." It enables massive, open-source collaboration without central coordination. Using a blockchain-based operating system, the Israeli company’s infrastructure comprises decentralized management tools, equity-sharing schemes, crowdsourcing mechanisms, and instruments for the collaborative evaluation and curation of content.

With a goal to enable the bootstrapping of decentralized organizations on top of the blockchain as easily as deploying a website, Backfeed can fuel a variety of ventures, including “decentralized journalism, insurance, ride-sharing applications and any other enterprise that would benefit from the decentralized, indirect coordination of large groups of individuals.” (http://www.sustainablecitiescollective.com/shareable/1194348/11-platform-cooperatives-creating-real-sharing-economy)

Characteristics

"If you’d compare the Blockchain to the TCP/IP, the Backfeed protocol would be analogous to the HTTP: it provides the necessary toolkit for people to design and bootstrap decentralized organisations on top of the blockchain, without having to worry about the underlying complexities that such an operation entails." (http://backfeed.cc/explore-in-depth)

Dynamic Power Distribution

"The Backfeed protocol implements a meritocratic governance system, dynamically adjusting the influence of peers in a decentralized network.

"The Reputation Score is a non-transferable unit of measure that reflects the degree of alignment of a participant within a network of peers. The reputation score determines the influence each user has in the evaluation process of the contributions of other participants. It can be accumulated in two ways: by making a contribution to the network that is perceived as valuable, and by making a useful evaluation of someone else's contribution." [1]


Proof of Value (PoV)

Just as Bitcoin’s Proof of Work (PoW) algorithm rewards miners according to the amount of computational resources provided to the Bitcoin network, Backfeed’s PoV mechanism enables a decentralized network of peers to reach consensus about the perceived value of any contribution within the network, and reward it accordingly.

"Value is distributed via tokens which are issued automatically whenever a contribution is recognized as valuable by the majority of reputation in a network, and collected as a fee whenever an action is performed that requires the attention or evaluation of other users.

Essentially, tokens can represent the equity of a company or a DAO and can be used as the fuel of a Đapp that carries tangible market value like ether-coin and their like." [2]


Accommodating Diversity

The Backfeed protocol drives communities into consensus by empowering aligned individuals, and translates disagreement into a diversity of networks."

"The Backfeed protocol makes it possible for a community’s value system to emerge organically, through the aggregation of individual actions. It also encourages individuals that deviate from it to cluster with other, more like-minded individuals in order to create their own community.

The Backfeed protocol provides that those who are in line with a community’s value system will see their influence within that community increase, at the expense of those who disagree. By doing so, the Backfeed protocol promotes the alignment of individual members towards a specific set of values, while encouraging other, less aligned individuals to fork into different communities with an alternative set of values.

The efficiency of the protocol increases with the number of individuals involved: the more the number of users who participate and the greater the diversity of opinions involved in the process, the better the results the algorithm provides." [3]


More Information

More at The Blockchain Applications Directory

Article: Pazaitis, A., De Filippi, P. & Kostakis, V. (2017) Blockchain and value systems in the sharing economy: The illustrative case of Backfeed. Technological Forecasting & Social Change (in press), available at: http://www.sciencedirect.com/science/article/pii/S0040162517307084.