Big news! 📢 Season 1 of @DraperNationHQ is coming, fueled by @JurProject!  We'll reveal all the details on September 14th at an event during @token2049.

Join over 2000 people on the waitlist at www.drapernation.com.

Curious to know what it's all about? Keep reading! 🧵 #JUR

First and foremost ➡️ @drapernationHQ has several coordinators and catalysts, one founder @TimDraper: but there isn't a single leader.

🎯 We envision an initial incubation period, boosted by existing networks and entities, and a decentralization phase.


It all begins with the People:

- Proof of Presence
- Proof of Attendance
- Reputation

After that, it's time for on-chain capital formation to take it to the next level.

"The Internet has already revolutionized many industries. What is a government if not a collection of insurance policies? About 80 percent of the government functions as a form of insurance. With a Bitcoin economy, all of this could become virtual." - @TimDraper

 🔗 https://youtu.be/MStqShryreA?si=i8bWTP6SV52jHZuI&t=1900

A sneak peek with anticipation of what we are currently working on, taking inspiration from the blueprint by @balajis:

👥 Presence, reputation, and personhood
💰 On-chain capital formation

@dshglobal, with his 25 embassies, will support the bootstrapping phase of the network.

Last but not least, we are going to iterate fast. Web3 in our view, is poised to generate a huge impact on real world governance, in multiple ways. We are building for wider communities and validations are part of the process.

What is currently public from @JurProject represents less than 10% of what we have been working on. In Web3, building complex things is easy, but creating easily accessible ones is challenging.

We follow a process of testing, iterating, and then upgrading them in robust protocols, rather than the other way around. This means that your feedback counts.

Mark your calendars for September 14th and join us for an unforgettable launch party during @token2049!

Don't miss out:

https://www.eventbrite.sg/e/bitcoin-native-digital-nation-launch-party-singapore-tickets-710190889067?aff=oddtdtcreator


Season 1 of DraperNationHQ: Big News and Exciting Details

In event of strong regulatory reaction, @Web3foundation's dialogue with SEC will be a lifesaver. Regulation of CEXs implicates higher scrutiny of protocols.

Polkadot's previous asseveration mitigates the risks significantly for any substrate-based chain.

This discussion on the Polkadot Forum is important to shaping the future of Polkadot, and enabling its growth. Take a look at it:

https://forum.polkadot.network/t/a-better-treasury-system/291/13


Hi frens, just a quick memo.

We often talk about foundations as entities that govern Web3 projects. Sometimes, it is assumed that the presence of a foundation is synonymous with the transparency and seriousness of a project.

That may be true, but it is not always so.

Some points we should not  underestimate:

• What is the purpose of the foundation. A foundation can have a purpose, by statute, that is broader or not exactly coincident with the scope of a project's creation. 

• Let us also remember that legitimately the purpose of the foundation and the interest of the token holders might diverge from time to time, even in the case of a purpose of the foundation tight to the project's scope

• Who has the power to elect the board and govern central decisions. Who has the power to review decisions made by the board or by the directors?

• Transparency. Is there an obligation of the foundation to publish financial statements and board decisions?

• Remedies. Each jurisdiction has different foundation management mechanics. Are there any actionable remedies concretely actionable by the token holders?

• Effective influence of founders, core contributors, and investors. Regardless of form, is there an effective influence of individuals on the institution's operations?

• Intellectual Property. Are we sure that the foundation owns 100% of the project's intellectual property? 

• Is there a public and reliable way to verify the exact regime of the relationship between the foundation and multiple possible development companies to which related development is delegated?

• Conflicts of interests. Do board members of the foundation and the lead development company coincide?

Similar considerations apply to associations or "cooperative companies".

A name and architecture can mean everything and nothing depending on the case.

There will be work to be done to generate balances in which transparency and manageability coincide.

One of the main problems is also that each jurisdiction has different rules. 

Each jurisdiction in addition to regulations has also practices: they often carry their own weight. 

One country's jurisprudence may prefer one approach over another on critical issues that change the balance among stakeholders in a Web3 project.

A second problem is that using nonprofit-type legal entities to govern Web3 projects is not always easy or completely straightforward

It would be much easier to define new rules, from scratch, with a digital jurisdiction created for the purpose.

@JurProject #web3jurisdiction #relaystate #networkstate


About Foundations behind Web3 projects

• Digital Assets > Physical Assets. Digital assets will become more important than offline assets, and their infrastructure will be Web3.

• Digital Citizenship > Physical Citizenship. With 7 hours a day of average Internet use, for 5B people in 2022 soon everyone will be Internet Citizen first.

• Digital Jurisdictions > Physical Jurisdictions. Offline jurisdictions and their legal systems will cede regulation of the digital economy and Web3 in particular to digital-native jurisdictions.

Digital Jurisdictions > Physical Jurisdictions

Let's define the context, Jur's frens 🏛📡. @JurProject 

In the past few weeks, I have had the pleasure to talk to many projects in the space, and we will be talking to many more in the coming days.

There is a unanimous consensus on the need to create and adopt open-source legal contract standards.

@Polkadot @Kiltprotocol @MoonsamaNFT @publicpressure @energywebx@mynft @ScytaleVentures @trentmc0 @AventusNetwork @Kiltprotocol @gameDAOco @ZeitgeistPM @MomentumXYZ

🧵

There is a need for a legal infrastructure that can be considered standard, a common base of governance that each project can rely on.

Why is this a burning need? 

Today every project must reinvent the wheel to create an agreement. For example, to create a model Grant program agreement, each project must invest resources and energy.

In addition, each time an agreement is made, the other party to an agreement (the one receiving a grant, in the example) has to study the contract all over again each time. That means legal fees, and time. Renegotiation phases often open up adding more further costs.  

What is stated here becomes clear if we take NDAs as an example.

It makes no sense to spend time re-reading NDAs every time. 

Wouldn't it be easier to have a standard NDA that we all know and sign without renegotiation every time?

Imagine a JUR-NDA-2022, maintained by a working group that evolves over time. The working group has its own internal governance and working model. 

Imagine that anyone will be able to use JUR-NDA-2022 for free. The goal is to minimize the transaction cost as much as possible.

The problem today, indeed, is not automating a legal contract.

Automation is a consequence. Automation also means having to deal with issues of a different order.

What is urgently needed is a Standard.

Ultimately, you cannot automate what is not standard.

cc @Web3foundation @aeronoxio @sergiomottola @mrsergiomottola @ingoruebe @marcobahn @KyilkhorSama @edhesse79 @mark_cachia_ @DaKampe @davidhperry

From an NDA to a SAFT to the terms of sale of an NFT.

The value lies in generating a consensus on business practices.

Let's do an analogy to clarify the concept by taking Ycombinator's SAFE as a reference.

The value of Y Combinator's SAFE is not in the legal text itself.

The value lies in representing a contractual balance that the parties already know is reasonable for both parties.

The value is in limiting the transaction cost. 

At Jur, we are starting the first working groups for making the Open Source Contract Standards a reality.

At the option of the parties, the Jur dispute resolution clause and access to Jur as a digital jurisdiction will be available.

We aim to contribute by creating tangible value, right away and gathering feedback.

Our vision is to create a Network State, in the sense of a governance infrastructure aimed at solving specific concrete problems at scale.

We will be publishing a Call for Participation soon. 

Anyone is welcome to contribute to one or more working groups.

At the same time, the citizenship program for the preconstitutional phase is coming out. 

The two initiatives will go hand in hand.

#networkstate #relaycountry

What is urgently needed is a Standard

It was 1995 and David Bohnett and John Rezner founded the Beverly Hills Internet hosting company, later renamed #GeoCities.

The original concept of the service was to create a virtual community of Web sites organized into "Internet cities."

During the registration process, new members would choose the neighborhood to which they wanted to belong.

This neighborhood became part of the member's Web address along with a sequential "street address" number assigned to make the URL unique 

(e.g., http://www.geocities.com/RodeoDrive/number%22).

In 1999 GeoCities was purchased by Yahoo! and ten years later, on October 26, 2009, Yahoo! permanently shut down the GeoCities service.

https://en.wikipedia.org/wiki/Yahoo!_GeoCities 

I wonder what the founders' thoughts and reflections might be on City-state, network states, etc...

cc @mariogabriele @trentmc0 @k_schellinger 

1995 Internet Cities

In 2022, the average daily time of Internet consumption worldwide will be close to seven hours a day, and nearly 5 billion people will use the Internet daily. 

Projects like Starlink will make Internet access widespread in any remote corner of the world. Bitcoin has weathered the ups and downs and has become a legal tender in a country like El Salvador.

There is very little time left before everyone is literally an Internet Citizen first, before being a citizen of a specific Country.