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There is a lot of excitement about the potential for web3 to power a new model for the internet that places user control and ownership front and center.

There is strong resonance between some of DG’s core values / principles and those espoused by the web3 community. This post aims to highlight those connections.

Funding Platform

DG Values

DG Value

Web3 Concept

  • We don’t want to be a centralized gatekeeper, any farmer org should be able to list themselves and any funder should be able to directly fund a farmer org

  • Some entity would publish and maintain the protocol which anyone could leverage to publish funding requests and fund project

  • Most projects start out with a centralized entity leading the development (xyz Labs) and over time move towards a more decentralized model (a DAO). There is a conceptual model for progressive decentralization which we could leverage.

  • There is some precedence for investment groups that are organized as DAOs. See the LAO for more detail.

  • We want farmers to have a role in the economics and governance of the funding platform. inclusive and democratic governance of the protocol / platform.

  • Web3 projects issue tokens which are akin to equity; token holders can participate in governance and have a claim on the earnings of the protocol. The entity which runs the platform can establish thresholds for how many tokens are available for different types of stakeholders (developers, farmers, funders, etc.). Note, some of this can be achieved through the operating agreement/ shareholding in a “traditional” org as well.

  • We want to draw lots capital to the funding platform and making loans easy to buy / trade / sell supports this

  • Easy to create fractional shares of financial assets

  • Assets are programmable and composable which means third party developers can easily integrate funding platform assets into their own apps (eg, an e-commerce merchant can easily have a portion of product sales go towards supporting an FPO funding request)

Tech

No Web3

  • There has to be a database containing “deals” that DG control and operates

  • Only DG backend services could interact with these “deals”

With Web3

  • “Deals” are on the blockchain

  • Any organization could create applications and services that interact with those deals

What could be built?

No Web3

  • DG could build a complete platform for different users: farmers, originators, and funders

With Web3

  • DG could build a complete platform that operates on “deals”.

  • Any other organization could build similar or new platforms that operate on the same primitives

  • Any one could build small parts of the platform or small set of tools that compliment the larger platforms

  • Examples:

Related to the data wallet

DG Value

Web3 Concept

  • Farmers should “own” their down data and not be beholden to a provider that can mis-use or command extractive terms for managing their data

  • IPFS

  • The upside is farmers have total control, downside is they need to handle the complexity of storing their own data / private keys, etc

  • Record once, use many. Data should be not stuck in a silo and farmers should be free to share with external stakeholders on their terms

  • Data portability

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