Crypto Commons

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Mike Maples on the libertarian view of the crypto-commons:

"Keep in mind that what makes the commons fail is a lack of scalable governance because there is no centralized control by a corporation or a government. Instead, you are limited to informal relationships among people who know each other.

One of the biggest value propositions of crypto is scalable governance without informal localized trust.

This could be a big idea just like a scalable stock market was a huge breakthrough 150 years ago.

Blockchains create “Governance Markets”:

In its simplest form, a market is a medium that allows buyers and sellers of a specific good or service to interact to facilitate an exchange.

“Stock” markets create a market for buyers and sellers to exchange shares of stock. We needed a stock market to allow companies to sell ownership stakes for money they would use to build large-scale corporations.

In the case of crypto, Satoshi’s white paper shows how to leverage mass computation and connectivity to create “governance markets.” Governance markets allow the commons to scale and create abundance in the same way that the stock markets enabled corporations to scale.

“Governance” markets? Why would people want to buy and sell governance?

Blockchains facilitate precisely this. They create the first medium for people to be rewarded for enforcing decentralized “governance” at scale.

Whether we are talking about Bitcoin, Ethereum, or any blockchain ecosystems, the big idea is the same: Governance markets reward those who contribute to consensus. A “market” is created to award coins to those who enforce the governance rules of the protocol.

Governance Markets will enable the Commons to scale…like the Stock Markets enabled Corporations to Scale

Without a governance markets for a Commons, you will see a tragedy of the commons or the rule of the mob when you try to scale. But if you have scalable decentralized governance at the core, you now have a new platform to fuel new businesses that create massive abundance in ways never before possible.

Just like a stock market was a financial platform for creating the scalable corporation, blockchains can be governance platforms for enabling the scalable commons.

In the not-too-distant future, a new form of networked governance will allow new types of value creation with crypto assets rather than shares of stock, contributors rather than employees, and decentralized collaboration rather than centralized ownership.

...

Prediction: Crypto-powered governance markets will solve the tragedy of the commons and drive future abundance at the same level of scale as the stock market and the corporation. In a pervasively connected world, it will be more global and democratized than what we’ve seen before." (https://medium.com/@m2jr/crypto-commons-da602fb98138)