In almost every interaction in today’s world, one needs to interact with a third party. We trust platforms like Facebook, Instagram, Twitter to regulate information shared on their platforms. We trust banks to keep the money we earn safely. We trust organizations such as Google, Brave to keep our internet surfing data safe from falling into the wrong hands. We trust technologies such as Apple, Microsoft, Samsung to keep the data we store safe from hacking. We trust the local government bodies to keep our identity safe. We trust government institutions to keep our surroundings clean, and to build infrastructure so that we can create value more efficiently.
As you can see the pattern here, there’s a lot of trust we throw around. Our entire life revolves around trust. Trust that the external world will take care of our needs. However, we aren’t all lucky that way. Sometimes the banks we trust steal our money. Sometimes the politicians we trust steal our assets and identity for their own benefit. Social media platforms we trust sell our information to other organizations without our knowledge. Every time we need to trust someone to take care of proof for us, there is a possibility that the trust can be broken, with or without intention.
Blockchain as a technology can be used here to build back trust. It’s a tool that integrates trust as the very backbone of its operations. Anyone using a platform built on this technology can blindly trust the platform as everything required to run this platform is open for everyone to see. Anything can be audited by anyone.
How do we use this technology to gain back trust in human society? We start by decentralizing value calculation of a person. If we use a single entity to calculate an individual’s value, for example, dollar, Ethereum, or bitcoin… we end up centralizing around that entity. Humans then start competing to get the highest amount of that single entity. At the end of the day, the goal is to transfer value. It’s to use the dollar, Ethereum, and bitcoin for services people provide.
I’m going to introduce a term used in the blockchain world.
Nakamoto coefficient.
This term was coined by one, Balaji Srinivasan, to calculate the true decentralization of a blockchain. What does that mean? It measures the degree to which a blockchain is owned by the people. It ranges from being owned by one person to being owned by everyone in the world. This same concept can be used for a token. To measure the true value of a token, we can measure the number of wallets that collect this token. This can give us a true measure of whether a token added value to human society or not.
Owning this token will give us actual ownership of our value. The underlying technology prevents any individual from stealing this value you created.
With these thoughts in mind, the Kundalini project is a new blockchain that focuses on the value calculation of an individual. We are building the tools required for you to take back control of your value and also make use of it to navigate life easily!
To understand how we decentralize value calculation, head over to this GitHub repository.