Memetic Singularity Economics Using Curation Markets & Meme Futures (Prediction Markets).
Curation Markets, using Bonding Curves, is a protocol that reduces information asymmetry by incentivizing the injection of tokenized skin-in-the-game signals into the market. It is being adopted in new projects such as Meme Factory, Ocean Protocol, SingularityNet, Ixo, 1Hive & Zap Store.
In short: it’s a low-barrier system that rewards participants directly for surfacing relevant information.
Curation Markets will thus keep thriving if asymmetry of information exists in the market. In a more detailed fashion: it will keep thriving if the transaction costs of the curation market is less than the value of reducing the asymmetry.
At any given point, it signals how salient all the bonded information is believed to be (some of it might be underrated or overrated). In other words: many pieces of information will have value staked to them and it creates a global, measurable ranking system of the value of the information.
Prediction Markets can help by allowing longer-term predictions on the future value of information, further decreasing information asymmetry. The bets are made on what information will be relevant at certain timescales.
Combing prediction markets with the ability to value information, allows us to make direct bets on how the world’s knowledge will grow.
Because these systems thrive on there existing information asymmetry, it will eventually result in it absorbing, valuing & curating all information in existence, up to the point where it becomes valuable to directly produce new, novel information in order to earn from doing so.
Instead of encapsulating information into legacy forms (such as a corporation) in order to earn from its arbitrage, the game will simply become the act of producing novel information.
We could become beholden to feedback loops unlike anything we’ve seen before.
Instead of relative linear growth of the economy, we could see the world economy grow at the same rate that we produce information: exponentially?
Is this the potential singularity economics that Robin Hanson originally spoke about? Instead of world GDP doubling every 15 years, we could see it lessen to 2 weeks?
It’s interesting to ponder. It’s also interesting to ponder what information production will look like in such a reality? Maybe even something as bizarre as Matrioshka brains computing all future realities, content-addressing the universe and moulding the current reality so that it produces the most information? It’s likely going to be weirder than we think.
Let’s see what happens. I’m excited to see the first projects roll out soon. :)
