PIG - TheInternetOfValue - OpenProtocolStack for an Equitable Economy


The OpenProtocolStack from TheInternetOfValue aims to address unethical capital accumulation by rethinking the concept of value, particularly focusing on how value is captured at creation and re-distributed. Value Exchange is taken care by Bitcoin, Ethereum and the entire DeFi solutions.

Problem Visualised:

Value Creation vs Value Extraction

People who help create something out of nothing are usually given the short end of the stick as the game (high leverage capitalism)* is set up like that. Not to diss capitalism. Capitalism - the giant Von Neumann game ** - is a mathematical marvel that gamified capital accumulation to what it is now!

*Capital Ideas Evolving - Preface XV

Players of the game

But the game is played by only a very small % of the population.
For eg: Only 10% of the 3.7% Indian population have F & O (Futures & Options) exposure.

In simple terms, out of 100 employed/working people 99 are working for a yearly hike of 5 - 15% whilst the rest 1 knows how to use the stock market to leverage the work done by the 99 and make more than everyone combined. Atrocious, yes but that’s how the game is set. Don’t hate the player hate the game right?

source: Business Standard , CNBC

Solution - TheInternetOfValue

The OpenProtocol Stack

Value Capture Protocol to capture Transactions

Time is the most common factor across the globe.

How that time is spent and what it is spent on, and what’s the worth of the output and who is spending that time.

Wellbeing Protocol to incentivize becoming a Virtuous Human | “The Who”

Moving away from productivity to well-being and quantifying it with more public involvement. Thus incentivizing well-being pursuit.

DAOcommons Protocol for BlockCreation & Incentive alignments |

“The Labour Output and What’s Labour Output’s worth”

Build Institutions built on Labour with equity (NOT equality) as a founding principle, so value distribution is taken care of in an equitable way. Thus making such institutions promote frictionless skill movement.

This stack is presented as a comprehensive solution to reformulate economic interactions, emphasizing time as a fundamental unit of value. For a deeper understanding, you can explore more on TheInternetOfValue’s OpenProtocolStack.

JSON format of TheInternetOfValue

    "startTime": "2024-04-07T12:30:00",
    "endTime": "2024-04-07T14:00:00",
    "activity": "Workout",
    "proofOfActivity": "Logged exercise session",
    "wellbeingNode": "Physiology"
    "startTime": "2024-04-07T14:30:00",
    "endTime": "2024-04-07T17:00:00",
    "activity": "Developing IoV Documentation",
    "proofOfActivity": "Document submitted",
    "wellbeingNode": "Performance",
    "DAOcommonsNode": ["Learning", "Earning", "Community Building"]

  1. Existing Target Protocol: We aim to augment Layer 1 protocols such as Ethereum and Bitcoin, which are primarily focused on value exchange. Our protocol stack introduces a complementary layer, designed to enhance these fundamental protocols with advanced mechanisms for capturing and distributing value based on equitable principles and individual contributions over time.
  2. Core Idea or Insight: The cornerstone of our protocol stack is a novel value capture mechanism that fundamentally reassesses how economic contributions are quantified and rewarded. By acknowledging time as a key metric and underpinning for value, we establish a fair and transparent record of contributions that align with community-driven, skill-based economic models.
  3. Discovery Methodology: Our research methodology encompasses a robust multi-disciplinary approach, combining data-driven analysis with theoretical modeling. We integrate insights from community interactions, behavioral economics, and network theory to investigate how Layer 1 protocols can be extended with our stack to facilitate a more just and balanced economic model within the Web3 framework.
  4. Prototype Form: The prototype will materialize as a layered architecture, integrating with existing blockchain infrastructures. It will include smart contracts for the Value Capture Protocol, a digital platform for the Wellbeing Protocol, and a decentralized governance framework as part of the DAOcommons Protocol.
  5. Field-Testing: Field-testing will involve live deployment within existing blockchain communities such as QuantumComputingIndia and SystemIntegrators Guild. These communities will serve as microcosms to evaluate the impact of our protocols on real-world scenarios, gauging user engagement, transaction efficiency, and the promotion of equitable value distribution.
  6. Quality Judges: The quality and effectiveness of our improvement will be judged by an advisory board comprising blockchain technology pioneers, economists specializing in community-driven models, and representatives from active Web3 communities. Their evaluation will be based on pre-defined metrics that include user engagement, equity in value distribution, and overall network health. More on the metrics given by DAOcommons.
  7. Publishing and Evangelizing: Our dissemination strategy includes academic partnerships for research publication, active engagement in blockchain and economic forums, and a series of educational initiatives that will introduce the principles and workings of our protocols to a broader audience.
  8. Success Vision:
    The success of our protocol stack will be demonstrated through the scaling of skill-based communities such as QuantumComputingIndia, SystemIntegratorsGuild, and welbeing community HouseOfBros. Our aim is to develop these communities to a sustainable state, fostering an environment where members are actively engaged and value is equitably shared. A pivotal milestone will be the successful launch of ERC-20 tokens for each community, symbolizing their economic viability and independence within the Web3 space. These tokens will encapsulate the essence of our protocol — transforming time and skill into tangible economic assets.