Modern Economical Nonsense — Participatory Economy

xuanling11
Coinmonks
Published in
6 min readApr 19, 2022

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Photo by Alejo Reinoso on Unsplash

DAO or Decentralized Autonomous Organization is a new trend that Web3 companies may adopt to run their business in the future. There is a viable part that is missing from the discussion — participants. The technology has been developed and continues to improve. However, the essential part of the discussion is how to cultivate participants. Eventually, you are building a community rather than a corporation to keep people interacting in Web3.

Let’s explore.

Table of ContentWeb3 Creators’ EconomyParticipatory EconomyCategoryIncentivized ParticipationBot Selection vs. Human SelectionRedesign MotivationIn Conclusion

Web3 Creators’ Economy

What we have learned from Web2 makes us think about what we should do to avoid the failures from Web2 and improve through Web3. We were creating a digital monopoly in Web2 with few corporations controlling data and information that bring society’s attention only to what they want you to focus on. A very similar operation under totalitarianism except they are only profit-driven corporations.

They are centralized and dictatorial and require complete subservience to their users through newly invented technology. Such technology blinds you to only see what they want you to see and influence what they want you to believe.

Web3 is liberation from Web2 which claims you take control of your data and from the internet. It is a truly decentralized, peer-to-peer network that people freely anticipate without third-party interference.

The problem with Web3 is we are missing participants!

Participatory Economy

Maybe this isn’t so obvious but the creators’ economy relies on a participatory economy.

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