Economic Space Protocol

The economic space protocol is a shared language to understand and articulate networked economic values and relationships. It enables its members to negotiate new economic relationships that describe how they may create, measure, and distribute the value generated from their interactions. Furthermore, this language allows users to articulate new network value forms (i.e., network derivatives) predicated on mutually beneficial economic relationship parameters in a unified economic network. In other words, it is a formal medium for creating postcapitalist economic organization (an economic media). It is an economic networking protocol that gives people the power to create economic networks. Economic networks, we believe, will be for Web3 what social networks were for Web2 and shared keyword networks were for Web1. The Economic Space Protocol is like an economic system creator in a box. It enables a new organization type called an Economic Space, a programmable network where participants can publish, validate, and value each other’s contributions. It introduces a new value primitive known as the Economic Space Performance and a new transaction type that involves exchanging stake for access to each other’s output and reciprocal credit lines. The protocol redefines wealth by recognizing stake as preferred stores of value and incentivizes cooperation by rewarding those who align their performances with one another. It establishes distributed leadership to decide what should be valued and forms an economic medium in which all agents have equal capacities, like issuing stake and clearing credit. We think of it like a new kind of economic intelligence.

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