Thinks 542

7 Essential Ingredients of a Metaverse: by a16z. Decentralisation, Property rights, Self-sovereign identity, Composability, Openness/open source, Community ownership, Social immersion. “Openness and decentralization are the pillars upon which the whole edifice rests. Property rights rely on decentralization — they must endure despite the influence of powerful adversaries. Community ownership prevents unilateral control of the system. The approach also bolsters open standards, which are helpful for decentralizing and composability, a closely related property downstream of interoperability.”

Atanu Dey on markets: “When trades are not allowed, both parties lose. Add up tens of millions of disallowed trades — which invariably governments d0 — and slowly but certainly the people become impoverished. This is true. The wealth that we enjoy could not have been possible without markets. How do? Because we have the possibility of exchanging what we produce, we are able to specialize in what we are good at producing. That allows division of labor, which in turn allows division of knowledge.”

Read: In the Blood by Jack Carr

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Rajesh Jain

An Entrepreneur based in Mumbai, India.