P2P Economies at Scale
This article was originally posted to Reddit by an anonymous user here
An open letter to Roger Ver, Jihan Wu, and voluntaryists.
Peer-to-peer trade makes “Government” obsolete. If we can create a peer-to-peer economy at scale, then a voluntaryist society will form as a result. I believe to have outlined a network structure for achieving a peer-to-peer economy at scale.
This theory has taken me the better part of a year to refine. The theory takes significant time to fully understand. Anyone who is willing to learn/question/critique the theory I am happy to do discuss with you as long as you are willing.
1. Central Theory Assumptions
- A peer-to-peer economy removes the centralized middleman from trade
- By removing the centralized middleman, it becomes economically impractical for mafias to surveil and extort trade among peers
- Peer-to-peer trade involving no middlemen or mafias would reduce the price for the same products and services by 40%-60%
- 99.9% of people in society, when given a choice, will choose the product/service that is 40%-60% less expensive, assuming all other variables remain constant
- If a hypothetical peer-to-peer economy can be created at scale, then a mostly voluntary society will be created as a result.
2. What is Needed to Create a Peer-to-Peer Economy?
- Permissionless Value Transfer (Bitcoin
- Permissionless User Identification/Reputation
- Permissionless Matchmaking (Efficiently match producers with consumers)
2.1 How to Create Permissionless Identification?
- A Bitcoin address represents the user’s ID (not for payments, just ID)
- A human readable name system is layered on top of Bitcoin address ID creation. Names can be freely registered with any competing provider.
- Users are free to submit or not submit hard documentation to competing identity verification companies who will attest to the user’s real world identity, to their Bitcoin address ID.
- Users link all reputation, broadcasts, content, server address info, and payment addresses to their Bitcoin address ID for discovery from other network participants.
2.2 How to Create Permissionless Matchmaking?
There are 7 layers of competition. The blockchain is at the center of the network, and users are at the perimeter. If at any point a network participant falls subject to censorship from mafias, or attempts to monopolize a component of the network, it will be replaced through open competition:
- Competing Blockchains: If a blockchain’s defining characteristics of permissionless value transfer and data storage are compromised, then competing forks will replace the compromised chain.
- Competing Server: Servers compete to offer censorship resistant hosting service at the best price. Servers are a localized extension of the blockchain.
- Competing Indexes: Indexes sift through broadcasts made to the blockchain (and its linked servers) and organize information in a searchable format. Indexes can be thought of as ‘miners’ of the network.
- Competing Protocols (dapps): Dapps are open protocols within the network. Anyone is free to participate, not participate, or create new protocols.
- Competing Moderators: Moderators identify spam, scams, and trolls in the network. Users report bad actors to the moderators. Spam/scams/trolls cannot be removed from the network itself, but moderators prevent them from being observed in the user’s client. The user is free to choose any moderator in the network or none at all.
- Competing Clients: Clients compete to offer the best user interface to the network.
- Competing Users: Users compete to offer the best products/services/content at the best price.
Any dapplication representing an intangible network (business) can be created as an open protocol within Freedom Network. All dapp broadcasts, content, and information will be published to the blockchain (or linked servers) for discovery by all users in the network. Indexing services sift through broadcasts made to the blockchain (or linked servers), to provide an easily accessible index for querying. Users query the indexes, and then make requests directly from peer to peer for desired content/trade.
Use cases (dapps) of the network are outlined here