$0.10883 -0.63%
ADA · 2w

A New Set of Incentives, Please

“Why does State exist the way it exists? Because it is incentivized to exist that way” – Charles Hoskinson In blockchain, we posses a tool that could free us of our capitalist moral dilemma and drive progress for all, exponentially. The business model that prioritizes monetization is the main driver for the behaviour of a network (as most networks are created as a business opportunity). We of course require monetization in order to contribute to the development of the network, however, if we are able to adjust the incentives (adjust what action equates to monetization), we could align with more altruistic opportunities and still reward the individual as well as the network. This would help override the “Tragedy of Commons” by incentivizing actions for the greater good. How this translates into attracting developers to the network would mean that we continue to cultivate a community that values progress over profit. Rather than tracking a DApp’s downloads, likes, shares or reactions, we track and reward more meaningful metrics that have real world benefits. Examples of more meaningful metrics that could be tracked are: trees planted (carbon offset app), % reduction of undesirable affliction (anxiety, obesity, etc.) of sample, Lbs. of plastic removed from the ocean or % grade point increase of sample. Abandoning the model that incentivises and rewards attention harvesting and pivoting towards incentives that benefit all should be paramount. I’m ready to be judged solely on my merit, productivity and karma… and I can’t be the only one. This community (Cardano) might be the only group of people that are capable and willing to address the systemic rot that plagues our current expression of capitalism, for capitalism, as a mechanism, has never been the evil we face – we create the evil within it.
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