The New World Economy

If Facebook’s Mark Zuckerberg’s aim is to “bring the world closer together”, Larimer’s would be to reinvent it. A libertarian, he is not driven by accolades or riches, but rather philosophy. He envisions a new world order in which power and control lies far and wide, with community and cooperation taking center stage. When spoken about abstractly, Larimer’s ambitions may seem euphoric, pie in the sky, or unfocused, but when one begins to explore EOS and the technology behind it, realization dawns that this tool could usher in a new era in humanity, one that could change it all.

This is not hyperbole; this is a real possibility. The central philosophy behind EOS, and almost all cryptocurrencies, is that of decentralization. Decentralization simply means that there is no central source of command, control, or power in the organization. Larimer took this a step further and invented the concept of DAC (decentralized autonomous company). A DAC has no captain on the ship, rather it lives and dies by the passion, involvement, and ingenuity of its community. EOS holders have real power in this system; in fact, they ARE the system.

EOS token holders will have a variety of responsibilities, each as important as the next. They vote for block producers (block producers are charged with securing the system and ensuring creating “blocks” or pages of the public ledger that are accessible by all in the system), they control which DAPPS can use the EOS bandwidth for their projects (each coin will represent a certain amount of bandwidth on the system), and holding EOS coins entitles them to “free” tokens given out to them as payment for certain DAPPS that end up using their system (possibly killing the ICO model that has come under heat as of late as regulators grapple with the crypto space). No other coin allots its holders as many perks, privileges or POWER as EOS; its function is truly unprecedented in the blockchain sphere.

Zoomed in, the technology can seem quite specific and inconsequential in the greater scheme of things, but zoom out and the revolution starts to take shape. In a centralized company, much of the profits, benefits, and power concentrates in a few, strong hands. The CEO, board of directors, majority share holders, etc, reap the rewards of a working class; the many for the few. The innovation and proclamation of a DAC is quite the opposite; wealth will be spread far and wide, opportunity is plentiful, and the fate of a company relies on those in the community that have built it, so they shall reap the rewards.

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