µniverse and Bharatverse: Web3 Explorations (Part 23)

Bharatverse – 3

So, how would the Bharatverse world in its simplest form work? [I have discussed some ideas in a previous essay.]

The first need is for members to join UVI with a simple pledge: “we will vote and vote as one.” Bhim tokens can be issued to those who join and those who have facilitated the new member to join. Tokens will also need to be awarded to those in the network who can confirm the identity of the new member. The number of token issues will be high for the initial membership (say, the first 10 million). In fact, incentives could be offered to ensure that each constituency gets to a 5% membership base from the eligible voters. This creates the critical mass (“atomic network”) to drive viral growth and also attract candidates.

The second need is for raising funds because eventually some resources will be required for contesting elections, technology development, and physical world events. Donors can be issued tokens in return for their financial contributions. Candidates who need to get work done can also buy tokens by paying money; they can also get tokens as transfers from donors who have bought them.

The third need is for creating an economic value for the tokens. There are two possible approaches here. The DAO can announce a finite upper limit on the tokens issued, after which donors or candidates will need to buy tokens from a “trading exchange” which will determine price based on demand and supply. The second is to give decision-making power to the members based on the tokens they have: quadratic voting can be used for this purpose.

The fourth need is to create a process for candidate selection. This will be done via digital primaries. Every member will have one voting token which is transferable. So, if I am not sure who to vote for, I can delegate my vote to someone else who is more knowledgeable. A combination of ranked choice voting and quadratic voting can be used to improve the voting process.

The fifth need is to train candidates for power. This is where the Sabhas idea comes in. Local communities would elect their leaders to form Jan Sabhas (or shadow governments). This gives an opportunity for non-politicians to hone their skills and get trained in persuasion, debating and policy-making.

The sixth need is for rules rather than individuals to govern the UVI DAO. Simple rules are the key so all members can understand them. Recursion can ensure they flow downwards to the local level.

These are starting ideas to kickstart Bharatverse. A lot more thinking and refinement needs to be done. Hopefully, political entrepreneurs can enrich the ideas and start the groundwork for ensuring 2024 ends British Raj 2.0, and ushers a new era that brings freedom and prosperity to every Indian.

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.