From senior bankers to young entrepreneurs, a highly respected Reverend Canon and more. London brought us some of the most diverse groups we’ve seen ranging from ages 17 to 75. It’s been lovely to throw open our platform to these varied collectives. All this while our distributed economy architects in Asia are focusing on the token-issuance that’s due in mid-August.
Here’s a quick summary of what transpired last week in London as we make our way to NYC!
Super-being Labs hosted us for an interaction with a group of philanthropists, senior bankers and design thinkers. The discussion took an interesting turn when we decided to take up the #metoo phenomenon as a movement that SC could support.
By leveraging the reputation economy, you can give a movement like #metoo validity. A reputation economy thrives on resonance, and allows you to modulate discussions without owning or controlling them. By setting which parameters you wish to amplify, you could shape different movements of this kind — more inclusive conversations with depth to bring out nuance, more generic conversations to organise a women's march, and perhaps even one to work with large institutions by giving validity to it’s active participants. Sounds interesting? Leave a comment in the section below, and we’ll loop you in as this develops.
Check out more reflections from the gathering on the videos below.
We were then hosted by Bay-Tree Labs for a slightly different community — a set of entrepreneurs ranging in ages from 17 to 20. While previous gatherings have involved heads of states and large institutions, it was fascinating to observe how this group of people wanted to utilise our platform for initiatives like gaming, fashion and social networks. At one point, Alex, a young gamer put forth a question that I thought was worthy of sharing with more people: “The problem with decentralised communities is that they tend to form narrow opinions on what is right/wrong. It results in people on the fringes feeling excluded and shunning any dialogue that doesn’t sit entirely right with them”
Remarkable insight from a 17 year old, but it shows us just why we need new designs for social networks (online and offline). So how does the reputational economy address this?
1. There’s value in both — exclusive and inclusive communities. Exclusive communities invite diverse voices, and reward all kinds of opinions equally. This is valuable in a conversation that is exploratory in nature. Inclusive conversations reward a specific, focused expertise — while this can be discriminatory to some, they are valuable for highly specialised conversations, — for eg: a discussion on medical therapies, or nuanced discussions on social justice.
2. In the past, there was no formal economy for culture/social norms. They were termed as off-balance sheet items such as intangibles, or were merely mentioned in the charters of organisations. That led to what was known as values-drift, or an inability to stick to the original ideals of an institution. Distributed Ledger tech allows us to surpass some of these limitations and ‘hard-code’ them into the ethos of the organisation. In other words, they receive as much validity as ‘money’ or revenue on the balance sheet.
3. By leveraging the reputation economy, an organisation can not only state what voices it wishes to amplify, but also validate and reward voices as per it’s stated objective.
While 17 year olds offered radically fresh perspective, we were touched by the wise words of the very highly respected Rev. Peter Challen Canon Emeritus of Diocese of Southwark and Chair of the Christian Council for Monetary Justice. We’re pleased to announce his participation as one of our Genesis Entrepreneurs. Stay tuned for updates as he uses the reputation economy to build a system that shifts our cultural habits towards the environment. He left us with the deeply inspiring words of MLK Jr., to never forget the ‘fierce urgency of Now!’ Highly relevant, for the state of the world today!
We’ll keep sending you updates from the road through reflections like these. For now, here’s a few more details on our token issuance and the road trip!
Token Issuance: ‘So how will the reputation economy work? What is the utility of the Sacred Capital token?’ To address these frequently asked questions, we are releasing a technical overview to existing investors and to those who have already expressed interest in our token issuance. If you would like to be looped into this, leave your details here.
NYC and California: As we head off to events in NYC and California, we’d love to connect with your friends/colleagues who you think will resonate. You can connect them by forwarding the link below, where they can leave their details: https://mailchi.mp/sacred.capital/events