72 hours in Shanghai engaging with communities and speaking at a fin-tech conference have left me with fascinating insights. There’s little doubt that this region will play a strong role in the Sacred Capital eco-system in the months to come. But more on that later.
Over the last couple months everyone has heard us speak endlessly about reputation systems for the distributed economy. Ten days ago our approach received a phenomenal boost through the Initial Community Offering of our good friends at Holochain.
Most of you have heard us speak about Eric and Art, Holochain’s two founders. Over the years they’ve offered me timely guidance on how to think about the distributed economy. They’re considered stalwarts of this space, and have been involved in currency design for a couple decades. In fact, an article reviewing their ICO had this to say about Art ‘If his profile doesn’t scream distributed economy, I don’t know what does!’
So what does all this mean for Sacred Capital?
1. It places at the forefront an emphasis on reputation systems. Their approach is truly radical, since they force entrepreneurs to think with an ‘agent centric approach, as opposed to a data centric approach’ (VCs reading do ask us what this means). They also encourage the creation of ‘breathable currencies’ i.e. token systems that derive value not from scarcity but robust utility. The supply of currency fluctuates on the basis of demand.
2. This bodes well for us since we’ve been thinking in this direction for a while now. One of our concerns was whether or not their platform would attract enough participants to create a thriving eco-system. The incredible success of this offering — in the sheer number and diversity of people coming forward to support it has resulted in a major acceleration of our timelines.
3. This means we’re ready to roll our PES much faster than anticipated. Over the next few months, I’ll be on the road opening this out to select regions. From Shanghai, I head to Singapore, India, Indonesia, Helsinki, Estonia, London, NYC, Boston and back to Asia. If all regulatory clearances come through we could be looking at a token issuance in August (fingers crossed!)
4. All in all, we took a few bold courageous steps in 2018 and to see the distributed economy coming alive in this fashion is incredibly validating.
We are also ready to respond to all the requests for contributions. Here are 4 broad categories in which you can contribute:
a) About 20 individuals around the world will form the ‘genesis thinkers’ of our PES (Programmable Economic Space). We will be building this group over the next 30 days.
b) If you have a strong entrepreneurial idea for a distributed network you can build it using our Reputational Protocol.
c) For those who have been asking about funding us or adding on to your existing funding, now is a good time to check in with us. We’re thinking about accelerating our campaign over the next 90 days.
d) For those interested in hosting interactions in your city, here is the tentative schedule until July. Shanghai -> Singapore -> India (Mumbai — Pune — Bangalore) -> Indonesia -> Helsinki -> Estonia -> London -> NYC -> Boston and then back to Asia. You can read more about our gatherings on this link.
If one or more of the above interests you, write in to us here and I’ll put you in touch with the relevant team members!Stay tuned guys. More updates coming soon :-) For now, here’s a video about Holochain and some pictures from Shanghai!