Talk | Regen CryptoEcon for Good

[Music] [Applause] foreign so cheers me okay hello i have not connected yet okay um so all right cool uh hey everyone uh my name is juan i'm here to talk to you about regen crypto economics for good and uh could i get a quick show of hands uh who is familiar with the regen crypto movement a few people a lot of people that's great um how would you gauge like raise your hand by like degree of familiarity with it like you're like a region maybe not a maximalist but like super into the green pill region movement kind of halfway like you kind of know something about it but like not a ton like hey you're not very not familiar great awesome so this talk is for all of you um but that just calibrates how much i should explain of different things and how much i should not bore you great so um one of the claims of the stock is that if regen wag me else ngmi so if we can do we can achieve regenerative crypto economics to achieve prior zotopia then we're all going to make it and if we don't then we're pretty screwed so there we go so the talk is going to go through these set of things we're going to i'm going to intro region crypto econ i'm going to talk about what priority is and how to achieve it i'm going to walk through two examples that are both massive and break them down into smaller chunks so we can think of like how to scale it up and how to cause an incentive structure build up towards fixing that problem then i'm going to give you a whole bunch of region ideas that people are talking about right now and i'm going to end with like how to get involved and how to take your region ideas forward um how to join the movement and how to improve the world uh great so um i'm going to use the uh memetics of green build which is a movement um that the gatecoin folks and especially kevin iwaki and a whole other folks have been uh producing the memes are awesome so i'm gonna rely on the great illustrations of the book um you should definitely get this book and check out the podcast so take the green pill and on uh the basics of the green pill um greenfield movement in a sense and regional crypto econ is that first the whole planet is filled with coordination failures we'll talk more about that in a moment we understand that and we understand the problem space and we also understand a set of solution possibilities and so we reject the numeraism and we are going to try and build a much better better future web 3 is a big moment of represents a ton of opportunities and it's a big um shelling point in the sense of people that want to cause this kind of action and this kind of change the tools that we're going to use are mechanism design and tools around using game theory and crypto networks and so on leaning into all the crypto blockchains that we've built and with that we aim to generate a massively generative and regenerative crypto economy that is going to kind of eclipse all the other kind of djen um more more dystopian perspectives of the future and we're going to get there by both talking about all these ideas and creating spaces for implementing those ideas creating spaces for showcasing those things and once we find things that work pour tons of energy and resources into scaling those to cause mass or change the basics of all this is that everything is about coordination so humans are social animals humans have been building many different kinds of institutions over millennia that are basically about different ways of coordinating parties to achieve various goals from early hunter-gatherer tribes or even before that pacs and families and so on all the way to modern nation states and um modern crypto networks and so on it's there's many different ways of coordinating across um many layers of the stack and you can even go into biology and think about coordination in terms of an integrated system that is a body and an integrated system that is you know one of the major organ systems or the organs themselves or the cells and so on so everything is about how to coordinate different kinds of pieces of a large system to get to certain objectives the cool thing is that crypto econ gives us massive levers to coordinate the planet uh so what is cryptoeconomics it's a field of study that involves many different tangential disciplines so things like economics itself uh things like cryptography things like game theory mechanism design um optimization control theory all of these kinds of things uh blend together into crypto economic uh crypto economic systems mechanism design is really useful the way to kind of think about it is that game theory is the study and theories behind studying some incentive structure and understanding what what the strategy landscape looks like for a set of agents in a game mechanism is game theory in reverse where you set a goal and you're trying to create mechanism and now analyze landscape to figure out what how you need to warp the incentive field to achieve that outcome so it's kind of like applied game theory um with you know specific sets of goals now with crypto we can um lean into building systems like that that have all kinds of malicious parties and coordination failures and so on uh to sort of get there so what is regen crypto econ um region crypticon is about building systems that are not just kind of um that are certainly not extractive and are not just resilient and sustainable but they're also regenerative they have all kinds of positive externalities to the systems around it and you try to minimize the negative externalities to try and sort of create these um holons that are just kind of emitting value and emitting energy and you can if you can create systems like that then you can scale them up over time coordinate between systems like that and over time lift massive massive problems so the let's talk about coordination failures for a moment um coronation failures are kind of at the core of many many of the problems that we have today so everything from um something as large as nation-states fighting over um uh resources and fighting about what you know the nuclear arms race and the build-up there was a massive coordination failure between um that you know the two largest macro coordination systems that we had uh we have much more you know much smaller examples like uh maintenance of software maintenance of um infrastructure taxing systems where the tax money actually goes um and so on so there's all the world is rife with coordination failures and all of it often a lot of it comes from lack of knowledge often a lot of it comes from lack of mechanisms that arrive at a good incentive structure for all parties in the system so there's a set of memes around moloch which is i think came from slave star codex's meditations with moloch which is an essay that kind of talks about uh all of these terrible coordination failures that are really at the at the core of all you know major problems in the world and so try to imagine some like demon god of coordination failure and like that's what malek is so if you've heard of mog dao and like slaying molok and so on like that's what it's about it's about like hey uh humans tend to respond better by like visualizing an enemy and trying to fight it uh so let's you know name the um name that coordination failure um uh god moloch and so on uh and the the web through movement is kind of like leaning into that those medics and saying great like we're gonna use web3 and all these amazing mechanisms to slay mock um and so like that's that's where that all that comes from uh and the green pill movement has like this really nice pipeline of um taking the the super um fast growing and super capable and um uh yeah super amazing crypto community and go from like the early incentives that bring a lot of people into crypto to um that are kind of like um exiting or trying to improve on other financial systems come into crypto because of that and then over time they sort of like realize the potential of the the potential of crypto and the potential to become um region and that's kind of like how how things flow uh at the end of the day like what we're um what we're trying to break coordination failures for is to kind of build um a drastically better potential future um usually mediated by um all kinds of public goods that we're gonna that we need to generate uh to help humanity flourish um help other species flourish and achieve um a good long-term progress uh so let's you know kind of look at game theory and public goods for a moment so um who here knows like what a public good is like fully well and like doesn't need a definition great most people um so the idea like most goods that you buy and you pay some money for some currency for and you purchase and you can use is a private good these are tend to be excludable or rivalrous usually suitable and rivalrous excludable means that when you use it somebody else can't use it so software is not like this ideas are not like this you can have an idea you can tell it to me we now we can both have that idea um rival rivalrous means that when when do you i think it's when you use it you you get to um yeah sorry that's rivalrous um excludable is that you can you can or cannot toll it so for example um yeah mistake let me rewind definition so when i when i consume it and when when you consume it that's rival rigorous excludable is whether or not we can kind of like cordon off the the good and toll people into it so for example the air is not really excludable um a public pool that you can build the fence around is excludable so you can create a tollbooth booth for people coming through and you can exclude the the um the participation and so that's kind of public goods are kind of all of these large-scale infrastructure pieces that are not excludable so you can't told them and you can't kind of build them build them with tolling and they're also non-rivalrous now the public goods notion is like kind of messy because what public are we talking about certainly access to specific good is not universal not everyone has access to the same good at the same level um so i like to think of like network goods in reality which are good specific to a network of parties that agree on some some set of things so think of like the ethereum blockchain is a network good in a sense um and so on so with crypto econ and web3 we can kind of lean on the fact that we know how to create incentives we know how to create incentive structures and deploy them into the network and start using programmable money to build these kinds of infrastruc infrastructure that is going to fund many major kind of public goods we've already built a bunch of crypto networks that are these public goods we've already built a bunch of dials that are causing some impact in the world we can scale that up um and cause many larger scales of of um of impact uh so great so let's go into coordination games for a moment um when you kind of study some incentive structure in a coordination game you end up with this kind of like a traditional game theory style analysis of a game where like you can think through the different parties you can think of their payoffs and so on and they're like classic games that show coordination failures like very very uh famously kind of a personal prisoner's dilemma has this um classic kind of like defect effect um equilibrium where like all parties tend to defect uh even though all parties would be better off if if they um if they coordinated so that's um uh so all this all the study of these cancer games um enables us to turn zero sum games where you have fixed resources into positive some games where you can tweak the incentive structure you can use mechanisms to orient people towards coordination towards growing the pie as opposed to fighting for the pie so it's like you can you can in general for most of the universal resources you can generally either fight encounter some conflict and fight for splitting some set of resources or you can focus on growing the pie and growing the resources and and we'll get a little bit more into that in in a moment with prioritopia once you start constructing simple incentive structures and you start scaling them and composing them and building larger systems you start building incentive fields and you can think of these as large scale surfaces that you allow parties to dynamically optimize through so for example you can um coordinate large larger and larger groups of people by building these like open-ended permissionless incentive structures um that all parties can can see um and can engage with and so on and you can coordinate large action by creating a different equilibrium most of the time when you are like frustrated about some problem in the world and you kind of start thinking about it start analyzing it and usually you'll end up finding some broken equilibrium and usually it'll be people are just stuck in some basin um and usually a lot of people in that basin know that it's very possible to arrive at a different basin that is much better for everybody but people can't coordinate their way out of it it's very difficult for individual parties to kind of get out of it there's a great book called inadequate equilibria that goes deeply into this and kind of why those basins form and why it's very difficult to get out of it and the gist of it is you end up in a structure where there are multiple different parties that have different strategies and if one of them starts like taking a different more pro-social attitude it's easy for the other parties to kind of take advantage of that and so it's difficult to coordinate everyone out of that basin at the same time but with crypto econ by creating mechanisms you can start like warping that surface and maybe like moving them like destroying the mountain in between those two basins to enable everyone to uh to flow out so that's the that's the kind of the major promise of the whole thing um there's many kinds of um great economic theories uh that we can rely on um the eleanor ostrom's principles for managing commons is a great example of being able to kind of reason about how parties can use the comments and so on and this is a great example of like building robust uh incentive structures for um for managing the comments and for funding the comments and maintaining the comments which was a kind of before ostram a kind of kind of open problem and like intractable problem to solve so the the where a lot of this is headed at least right now in the in the web3 space is that many times major problems um have many people that know how to solve the problem and know how to how to create solutions but they're lacking that time and resources to implement those solutions so a lot of times today in 21st century what many of those groups need is funding and funding at larger scales so funding is one of the easy ways to solve a lot of these problems finding structures that can fund those groups now you have to make sure to understand what the impact of that of that funding is and whether or not that's incentive aligned and so you have to create funding structures that can measure impact and then cascade that but at the end of the day you'll see a lot of the ideas right now in the last few years and probably in the next few years will relate to how do you fund larger and larger impact groups at various different kinds of scales and so a lot of the study right now is around different kinds of distribution models for funding that how do you get funding to the groups that have like the best ideas for how to solve problems um the best or like in the most most effectively fastest and you know most most distributed around the world and so on um and then there's you know a whole set of study around as you're scaling funding to groups how does that perform what is that impact could you do better and so on so you have a capital deployment and maybe assessment of how the capital is being deployed but you now need to kind of create a feedback mechanism to be able to generate more and more capital to fund funded larger and larger scales so this is where things like um uh the sort of value generation of crypto of crypto networks in general can be hooked into these mechanisms right so if you have a system that is funding public goods and we all know that when we have these goods we can get more capital for other reasons for example the fact that these blockchains exist enable us to build monetary systems and make enable businesses that enable cash flows and so on and money generation then you can feed some fraction of that into funding the public goods themselves right so in a sense this is kind of what nation states do nation states do that kind of feeding of um of the of the kind of they tax um societies and take some fraction of that tax and feed it into funding of public goods like uh science and so on and that's kind of like from a enlightened perspective of saying great we know these public goods are really valuable long term uh let's fund them let's take let's take some of the proceeds of the society and fund these larger public goods the problem is that the funding structures in these groups are not that great um and they're not scaling with the capital generation elsewhere we'll see that in a moment of how like the the science funding has not kept pace with the gdp growth of the world um and there are major problems in between uh how do you go from science into technology and broad diffusion so there's all kinds of mechanisms that people are exploring so everything from quadratic voting and conviction voting staking bonding curves um and and so on i'll kind of like flash a few of these right now for you to explore um a bunch of these ideas have been many of them have been proposed many decades ago in some cases centuries uh some of them are very new um but what's really cool about blockchains is that you can now have a software system that enables you to broadcast all all of these cancel mechanisms and deploy them into the network at scale right so you you you're no longer rate limited so so before crypto economists would have to like come up with a mechanism write a bunch of papers and then start to try and convince large-scale governments or large-scale institutions to build that kind of mechanism and that kind of incentive field and that's an extremely slow process in the crypto world you can dream up a new incentive structure deploy into the network see what happens um study it and then from there scale it now that's also dangerous you can definitely deploy bad in center structures so be careful um but it but it gives you this very very powerful tool that you can use to understand that the world try to solve some problem and um as an individual or a small group actually deploy a solution and if it's working then you'll get the scale will follow there's all kinds of problems and potential opportunities i highly encourage you to check out the the book it goes into a bunch of these these possibilities um and the book kind of finishes with like a a good notion of impact dials and kind of the the starts painting the future of potential um dao's formed around creating impact on some specific vertical uh vertical kind of uh case and the whole movement in general uh is kind of very oriented around this kind of again regenerative economics that are trying to orient and align incentives towards kind of maximum flourishing um great so i will now switch gears too so that's kind of the green build movement and regen crypto and kind of the the underlying technical foundations but also kind of the social and mimetic structure around it um check out the book for more and get involved with the broader movement so let's go into so now that like we have those like strong foundations and um we have like a sense of like the general goal uh let me let's kick it up a notch and now talk about pyrotopia so the at the end of the day we we um i think we live in an extremely critical century and i'll convince you why uh we've had tremendous global improvement over millennia and maybe tens of thousands of years and certainly in the last few hundred years we've seen by by most indicators that we have about human well-being and the well-being of groups and so on the world has been getting dramatically better life expectancy poverty rates health and so on most by most measures the world is getting dramatically better it doesn't feel that way because our media and other systems are kind of co-opted by interest groups that push all kinds of like conflict memes to try and achieve outcomes but in general most groups that take this longer view and longer view of study can point to just the world getting dramatically better over time however we're we're also in um faced with extremely extremely large challenges um this century uh certainly i think i've missed a yeah i'll go this one first um we're faced with x-risks which are these existential risks that um might wipe out the species so for example um there are these major nation states with nuclear weapons um there's one of them is like in a war right now um and it's a you know for a while there it looked really scary um still scary for a lot of people and this still could escalate um we also have a massive disaster around climate change we have potential problems around biotech potential problems around aji so all of these are major technological improvements that because they enhance our capability technology enhance our capabilities it has great positive potential and also great negative potential so that this creates a the possibility of coordination failures that get us into a really bad state so this is why we need to create very strong coordination structures to achieve really good outcomes and so the reason this century is uh extremely critical is that while other x-risks um which are natural so things like super volcanoes or asteroid impacts or supernova and so on those um the the scale and timing of those is so large uh that will likely kind of colonize the planets and go out to potentially other stars before one of those things happens however in this entry there are major major x-risks that we have to uh make it through uh and one of the one of those is the kind of computing phase transition um there's this uh if you kind of look at the history of computing and you think of the last 80 years and how decade-over-decade computing infrastructure has improved human life when you sort of start projecting that 80 years in the future a lot of the tech that we've known about and we've dreamed about for the last few decades will likely come to pass computing is one of these kind of interesting things that are that is so fundamentally powerful um and it's so kind of um yeah it's such like a tremendous physical process that once you we have we've been able to harness it it's going to rewire what we are um computing is not like about digital computers on its own life living systems are a computing system neural and memetic systems are a computing system um digital computers are a computing system all of these things have the three kind of like major events in in the planet in the last four billion years um are different layers of computing stacks so this transition is like super dangerous because um if if we get it right this could be phenomenally great for the whole species and it can block in like this amazing open-ended progress however we screw it up if we like build um uh yeah things like brain computer interfaces things like agi and so on are extremely powerful technologies that if we like misalign them or or don't broadly diffuse them and so on they could spell catastrophic outcomes for for the species so there's an extremely critical century and one of the the weird things here is that um early on in computing's history um we got the kind of the the implications of building computing machines and computing machines that can think and so on um uh sort of generated a ton of sci-fi that kind of helped us view potential features and so we we've gotten this very rich cultural um set of memes that can paint various possible pictures of what the future might look like and force us to contend with uh with implications unfortunately the sci-fi the sci-fi perspective has like because it's science fiction uh the world finds it really easy to just dismiss all of those ideas as just purely fiction and yet we're just marching that kid over a decade straight into this um brain computer interfaces are not that far away they're probably on the order of like 10 to 20 years out from being able to actuate most computers with directly from from your brain or later on connecting brains together and so on agi is very unclear that this is uh it's it the building of agi has been predictive for many many decades and um those timelines were always over optimistic but now the most of the experts have like radically shrunk their timelines uh in the last 10 15 years we've gone from most experts thinking somewhere between 50 and 300 years down to somewhere between 10 to 30 years and that timeline shrink is alarming because if we don't if we don't get this right it could be bad um so with all with all of these things so like um and the normal enormous global improvement very scary x-risks that we have to avert that that are you know stemming from coordination failures um and this really important computing phase transition that we're like engaging in unfortunately our current macro systems are not very adequate to help us solve this these major problems these were really great for getting us here and getting us to this point and driving a lot of the improvement but they're not able to contend with these these cancer coordination failures and they're not able to contend with um something like a like a phase transition like what like what computing is causing so hopefully like the picture is like clear like this is a very very critical century now what are we going to do about it the good news on all of this is that we we have like just in time we have figured out extremely powerful coordination tooling all of these potential failures stem from coordination problems these are macro scale coordination problems but you can usually break down macro scale coordination problems into smaller and smaller pieces that you can then meaningfully contribute to and meaningfully solve so let's let me introduce you to a kind of concept called paradotopia and then kind of give you a tool set for how you can achieve large-scale improvement by kind of breaking down those problems there's a great talk called part of the topian goal alignment from drexler who's one of the kind of inventors of a lot of the crypto stuff that we used today um drexler and eric dressler and mark miller kind of in the 70s 80s wrote the agoric papers which kind of described computing with markets and and currencies and the ability to kind of like trade resources and having digital money and so on and it just took a very long time for those ideas to percolate and make it into our global systems and now um get scaled and so part of what they talked about was that there was this concept of pyrotopian and um it's really useful to kind of visualize that picture so imagine kind of a very simple resource sharing structure so you can think of like two agents a and b and you can think of just one resource like there's just you know the uniform notion of like all resources and this is the picture of a serial sum game where they're kind of like trading off resources perfectly uh let's kind of like plot it on a log scale so like that bulges it out um that takes that straight line and bulges it out which is useful to kind of visualize um uh growth in a moment and then most uh most people kind of now in the last um 150 years have recognized like hey actually most resource growth is not um most resource taking creation is not a zero sum game and in reality you can instead of conflicting with each other we can coordinate um and we can arrive at kind of broad resource growth we can grow the pie instead of kind of compete for the pie and so you end up with this really nice kind of pareto frontier per different areas like that that line of like the potential kind of choices that people might make and they can coordinate to try and grow the resources now the the but but most kind of systems and and governments and so on are built upon this kind of picture where like growth is kind of a small fraction of what you have now you're kind of like growing at you know five percent a year ten percent a year fifty percent a year but when you zoom out the reality is that we're growing at in in terms of many orders of magnitude when you think of something like as pivotal as germ theory and the ability to kind of have sanitation and understand microorganisms and them as a as a cause for disease and then kicking off like all kinds of health uh innovation systems that it creates a massive scale of improvement um same thing with uh communication technology being able to kind of have go from a world where you have to like send letters to each other to suddenly having the telegraph and then the telephone and then radio um and then the internet like that kind of growth creates orders of magnitude more more resources and so on we don't see this in most of our measures like gdp and so on because those measures tend to like um just look at what people are willing to pay currently which um created this structure where like once you create a lot of value that is broadly diffused it's sort of like nobody's willing nobody will pay anything for it because it's just so cheap that gdp doesn't capture this kind of growth so if you were capturing this kind of growth gdp would be like many orders of magnitude of growth um every every um a century or something like that um so so this is kind of like the fundamental uh idea here which is that if we coordinate to scale our resources to do the kind of deep science work and deep technology translation work and deep product diffusion work to get all the tech out there we can get into this much faster pathway to growing the the well-being and resources for uh for the species and for many other species for all of life and and so on so that that kind of perspective here is what prioritopia is about uh and you know one critical thing here is like the the difference between parties um once you put it in these terms the difference between um uh parties uh taking more or less or whatever is kind of like negligible compared to um sharing and so on so it really is kind of like this forcing influence to get everybody to kind of agree to just coordinate as opposed to um to taking more and so on and it's also worth pointing out that when people get into conflict they destroy a lot of resources and they hold each other back and they prevent progress or they could wipe out the species and that like that risk profile um in reality is much more pronounced than this that like a red line should really be kind of like going from like zero bulging out all the way out and back um it's kind of like a scarier picture of the diagram so the question is like how do we get get there how do we go from where we are today to that prior utopian potential crypto econ that's how we get there um the crypto economic stuff that we were talking about is extremely powerful so the crypto community in general thinks of this as like really powerful and so on like we know kind of how cool programmable money is and how cool incentive structures are and so on but in reality they're just um it's way deeper than that um at the end of the day all of these systems from nation states to tribes to families and so on they're just coordination structures and what we have now is a way to marry like the digital computing platform that we have that is broadly diffused in the world with programmable incentive structures and in programmable coordination structures and so that is just super super super powerful it can rewrite all of our economic systems it can rewrite all our government systems it can rewrite all ways in which humans coordinate and so we're going to be seeing this kind of major improvement diffuse into major different parts of our life into different verticals and so on over time so this is extremely powerful stuff this is a massive lever by which to kind of move mountains this is a major tool by which how we can solve those like large scale large scale problems and just to kind of put it into like very clear perspective just think of the bitcoin hash rate um when before bitcoin started there was no bitcoin network when bitcoin started it had a few computers uh chugging away and burning a lot of hashes and so on and the incentive structure did two things like the block reward incentive for sure the two major things one is it got a lot of people interested in this currency and gave them a little bit of the currency and it broadly diffused that emission rate enabled the currency to be distributed to a lot of people and it created an incentive structure for paying the people to maintain the currency itself and paying the people for adding security to the to the network and so on it also uh helped um broadly diffuse the currency to a lot more people but it had this kind of unintended consequence because that incentive structure um was so powerful and the computing power that had to go into kind of mining each block is just kind of it absorbs any amount of power you throw at it it created this run of equilibrium for consuming as many resources as possible to secure the ledger um and so this is just kind of mediated by the price of bitcoin if the price of bitcoin goes goes higher more more energy goes into securing the letter um and so in in a few short years we've come from like a tiny little network with maybe you know initially 1 10 and so computers to now one of the largest energy consuming processes on the planet and in in and in that time scale it also had to kind of uh create the notion of virtual currencies and cryptocurrencies and so on it had to create the entire crypto movement in its wake and so on so that process will slow down you could redo something like this uh much faster now and like i would guess in two to five years you can get a something of this scale and that just gives you a sense of how powerful this open and permissionless incentive structure is we've gotten a taste of it with uh with the platform network in a year and a half we went from like no storage in the network to 15 16 exabytes which is an enormous amount of storage capacity so you know you go from like uh bytes to kilobytes to megabytes gigabytes terabytes petabytes and then um exabytes which is an enormous uh scale increase i might have missed one i think i got it right um but the point is like an enormous network uh appeared um because of that incentive structure so it just gives you a sense of like the scale of change that you can have on the world um uh by designing a good incentive incentive structure and deploying into the network um one important thing here is like this is the sort of scale that now um is this is at the scale of major computing platforms like um google cloud and azure and so on um it's within like uh one or two hours of magnitude which is totally um is super close um and that's how where you can get with you know a year and a year and a half and a super powerful incentive structure that is just coordinating that that kind of um that kind of network so this this like the optimistic view on this is like you can use these incentive structures to cause coordination at that scale and solve major problems uh in the world uh so let's go back to this kind of like mechanism design view of hey you have some complex surface area you want to kind of like use this tool tool set of whenever you're encountering some large scale problem break it down into trying to visualize the incentive field and trying to think of like what basin are people stuck in what other basin could be better and how do you get people from the basin they're stuck in into that better basin and use like the magic of cryptocurrency to kind of warp the incentive structure to enable the people stuck in the higher basin to flow into the lower basin so kind of like a uh one one way to like think about this like you have like your crypto economic uh toolkit which is represented here by like a tunnel boring machine and you're gonna like borrow a hole from one of the basins into the other and kind of create the the potential for for all that energy to to flow and you can keep doing so so with a large problem you can break it down into smaller things and keep making it based into base into base into basin create incentive structures along the way and that way it's all macro scale microscale problems and so this is how we can get to this prior utopian vision this is how we can solve these major scale problems by coordinating humans at grander and grander scales we know we don't really need to have to we don't have to convince everyone in the world we don't have to convince nation states we don't have to convince various governments we can create incentive structures that are that are well designed and that way kind of cause action at various different scales um scales in the network so think of like a picture like this uh this is how we get to prioritytopia so um you know it's extremely critical century um this is how we can get solve those major problems coordinate out of those x risks and and make sure this computing phase transition goes well so now i'll give you a couple of i'll break down a couple examples with you um to kind of give you a sense of like how to apply this thinking um and then we'll talk through some ideas and we'll end with how to get involved so think of like um you know a massive problem like how do we get the planet to go green and start being carbon negative and start fixing a ton of carbon on the planet well you can get there by first creating a green industry so if most of the industry in the world becomes green um then that's we can get pretty close to a green planet you can you can do that if you have one industry that you can point to that is being uh phenomenally green not just carbon neutral but carbon negative that is like actively fixing carbon in the ground at a great rates if we can cause that to happen in the world that industry will be looked at by many other industries as a strong competitor and they'll be kind of forced to adapt to what that industry can do or those industries will wane because people will select these other processes uh to go to the much much greener uh potential so how do we turn crypto into a fully green industry today we have things like the the bitcoin process we have many other proof of work networks and so on that are that are not green uh and are consuming massive amounts of resources and and carbonizing the planet so uh the the way we can get all of green crypto is that we get a few crypto networks to become fully green and start decarbonizing themselves and becoming carbon negative um and create incentive structures for the other crypto networks to follow suit to um adapt themselves to do the same thing that these other crypto networks that are much better are doing so great like let's do that with one let's start um this is what we're doing in the in the pipeline project we're making a green file coin so that we can be the greenest possible blockchain to then kind of help drag all of the other blockchains along with us uh and so how do we get there well we start first by thinking about the source providers which are the main parties that consume a lot of energy there are many other groups as well like let's start there and enable source providers to be fully green and get to the point where all storage providers in the network are not only carbon neutral but carbon negative if we can get that going then we can get the entire filecoin network to be green if we can get that to happen then we can get other blockchains to become green if we can get all of crypto to be carbon negative strongly then we can shift the entire industry world into that and if we can do that then we can get to the carbonized planet and this is the kind of thing that we can do in um if you can think of each one of these circles as achieving that on like a two to three year time scale you could get out of this in you know 10 to 15 years you can get to uh sort of become like heavily carbon negative might take longer but if a lot of us kind of work on these on these pieces we can we can get there and you can think of like using collaborative competition at each layer of the stack here to cause that kind of incentive cascade uh so you know let's kind of break that down like be super practical um so this how do you how do you do that how do you take a crypto network and make it carbon neutral so let's use crypto incentives you can do things like measure the energy use estimate the energy use of a particular storage provider you can create a lower bound and upper bound you don't have to measure it perfectly we will get to measure it perfectly once we kind of add some devices and so on but right now we can just estimate it and just take the take the upper bound and say let's just assume that we're like in the worst possible case and then after that we will kind of if we're doing better than that we can adjust and then once you have that measure you can then offset all of that and or get renewable energy to be produced at exactly the same moment in time as you're pulling it out of the grid so the energy grid is a really cool system where like all of the plants are pumping the energy into the grid at the same time and all of the users are pulling energy out of it so it makes it really difficult to trace who you're getting your energy from but if you as a consumer of energy buy renewable energy credits from specific plants at specifically the times that you're drawing the energy out you can make a very credible verifiable argument that as you're pulling the energy out you're paying for renewable energy to be put into the grid precisely at the exact moment in time in which you're pulling it out now if you do that then you have a very strong verifiable claim that you are your entire operation is operating on renewable energy and it is a green uh green process now if you instead of just paying for that amount you pay for like five times the amount of energy or 10 times the amount of energy you now have a multiple you now have a way of saying when i pull energy out of the grid i am paying for five times the amount of renewable energy to go into the grid so it gives you a facility to become not only carbon neutral but carbon negative and so if you can look at all the storage providers on the falco network and one by one figure out which grid they're in and one by one start a rec buying process in that area you can make all of the sps in the falcon network become not just carbon neutral but carbon negative and then you know we are like done with like the first and part of the second circle uh and then you know from there you can like scale it up to um you know other parts of the network and kind of um treat each increasing um increasing circle we're kind of in a in part of this process so it'll it'll take some a while uh yeah it's like a like a pretty interesting problem and there's all kinds of areas where crypto tooling and verifiable claims and zero knowledge computation and so on can come in to help this entire structure get much more verifiable much more verifiable green and then you can use programmable money to cause all kinds of action i'm gonna um maybe fast forward through uh to get to the um uh science one because i wanna cover that one for for a little bit uh and yeah if you wanna um get you can check out all the dashboards you can like get involved with this project um and you can um and a big part of a big part of causing this sort of change is that not only do you have to have a technical solution you have to create a large-scale social movement that you that enables a lot of other parties to participate to come up with more ideas to improve the system and to then scale it to to copy it to other places and to scale it so think of all of this as generating public goods that many parties in the world can learn from and can use and so on um cool so let's go into accelerating progress so the a lot of this global improvement that we talked about at the end of the day has been a consequence of the science and technology process so science is the process that humans use to expand our knowledge to get to know more about the universe and the technology build out is about building tools and systems to leverage that knowledge to increase our capabilities in on the planet so these are kind of two sides of the same coin and part of the reason the internet has been so impactful is that the at the end of the day what it really is is a way of doing this process much faster and kind of letting it feed back on itself at a greater degree so if we want to kind of accelerate global progress and accelerate the rate at which we're solving tons of problems one thing you can do one high leverage thing you can do is you can think of the entire pipeline from basic science to fundamental development to designing devices that put those ideas into kind of early notions of technology and then get all the way into products and diffuse that into the technology into into the world and you can think of that entire pipeline and create incentive structures to fund it at better scales to create this like regenerative crypto econ loop that where you're taking kind of outputs at the end of the pipeline um when you're able to kind of um create a lot of cash flow and then feed it back through the entire process um at every point in the way to to accelerate the um the diffusion of like basic science all the way through through that pipeline to the end um today like the funding scales for basic research and basic fundamental development are not great uh we'll see them in a moment and especially in the middle in this research development part there's a huge chasm um so this there's a missing set of coordination structures that enable this technology translation and many times many of us can imagine many problems that we are frustrated by in the world and we know there are communities out there that like know really good solutions and have like you can find tons of papers and you can find tons of uh solutions discussed and yet those solutions haven't made it into technology haven't made it into products haven't been broadly defused something has happened along the way where like some of those efforts just got stuck somewhere they didn't make it all the way sometimes some ideas don't make sense or or they're not as effective as others but many times what's going on is some idea is getting roadblocked and there's no funding to enable the people that want to get it to completion to actually do that or there was some funding but you know that team failed and you need a much more robust approach where you're funding many teams at the same time or in sequence to um to make that technology transition happen so this problem exists because there's no good way of like creating profit structures in the middle here like there's the the incentive fields here are are broken so we can use regen crypto econ to to fund this um so you can think of like um the whole science funding structure and funding scale and this kind of want to mention about hey it's big but it's not that big um and you know that that has roughly remained similar um the decade over decade it has increased a bit but not dramatically this is just the us other nation and this is one of the biggest circles on the planet uh china is now really big it didn't used to be that big um so it's a good sample of like the amount of funding in the world that is going towards um r d uh you can use scripted to scale this uh so crypto is not that big yet to be able to kind of fund this year over year but if crypto gets one or two euros made to larger we're basically there we're basically able to crypt is going to be able to fund r d at the scale of nation states and that is massive that that kind of shift could be transformative for the world if suddenly like um as a scientist or uh or an r d person and so on you can get funding not not just from the nsf nih or like equivalent agencies in other countries but you can now get funded by crypto networks at this massive scale that that could just ripple through the entire um the entire system to solve major planetary problems and if you kind of like don't just stop at the at the early beginning the way that um the the modern nation states do but you kind of like create incentive structures throughout this pipeline um to help push things along that entire chasm to make sure that there's a really solid incentive field through this this whole thing then we can really scale up the the the technology translation pipeline and at that point get a lot of the big solutions that we need in the world actually implemented and scaled um and you know way to kind of visualize these things that's helpful is like think of the um think of large scale projects as again breaking down into smaller things and you can get a lot of action to happen if you have a reliable way to kind of start small and scale up if you have ways of starting small projects prove them out and scale them then you can be in a really good place and part of the reason we have so many scaled-up startups and products that have for the last 20 years had these like super fast growth rates is because we have a phenomenally good capital structure in private funding where you can do this kind of scaling at every step of the way so it's very easy for groups that are very close to a product to get funding in larger and larger scales to be able to to achieve this outcome but the same is not for uh this is not the same for public goods uh polygas has a pretty broken funding structure where in the smaller scales it's massive there's just tons of money flowing into into charities a lot of that funding is lost a lot of that funding is going it's even negative uh there's like bad accounting of the impact of that funding and then once you start getting into larger scales there's fewer and fewer and fewer funders and you get to certain scales where like there's just no funding available this is why we have um this concept of fusion never where like fusion never got the funding it needed to actually get done and researched in time we're finally breaking that but like it took like 40 years more than it than than we needed and so if you can create a a funding staircase for public goods similar to this one at similar scales um then we can be in a much better place um the the scale here is like massive and this is all a decentralized system like the the the private venture capital system is all pretty decentralized with many different actors that that um are part of this incentive structure incentive field that enable them to kind of be collaboratively compete to fund startups that better um in better ways and so on and larger scales can we create a similar kind of structure for a funding staircase for for public goods that's i think one of the highest leverage ways to impact the major problems in the world is to do this and you can do it with crypto econ um you can do things like create new um new funding structures new grant programs you can take things like what get going's doing and scale it up like go from the quadratic funding type structures that work really well for the small crypto projects and scale it up to build out entire crypto networks or scale it up to do science research and scale it up to do full technology translation you can come up with better mechanisms to pair the funding proposal structure with the impact and so on and so you can you can use the crypto econ tooling to to greatly improve improve the structure so you know things like uh you you can even think of things like patreon and so on as like examples of doing this so there's a whole like field of potential um design here um and there's a bunch of groups now now starting to actively pursue these kinds of things so i greatly encourage you to get involved it is we're now at time so quick question is there another speaker that is about to jump in great so i'm gonna pause here um and maybe conclude with um hopefully i've given you a bunch of different region ideas um i'll be out there and we can talk more if you you want to do if you want to explore more and the last thing is get involved by going to the conferences and communities that are talking about these region ideas um go listen to like the green pill podcast um go to go watch the videos from shelling point that happened two days ago go to the next one and come to funding the commons which is happening in june uh great so uh let's all uh make it uh by aligning ourselves towards the predatorian outcome and solve the large-scale planetary problems with crypto thanks there's so [Music] [Applause] [Music] you