Web 3.0
Web 3.0 builds on Web3 — now internet communities take full and exclusive control and ownership of entire internet services, from social media, networks and games, to open enterprise tech infrastructures.An "open internet service" (OIS) keeps all its code, user experience, compute and data on-chain, and must be transparently configured, updated and instructed by an advanced DAO: a public governance framework called a "service nervous system" (SPS).There are no backdoors for devs, corporations or CEOs. The community is secure and sovereign, and its members become owners and part of a vast industrious virtual team.
OpenChat was the first OIS — imagine a messaging service where bitcoin can be instantly transferred in chat messages, with functionality allowing it to provide an alternative to Slack.
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Next Generation DAOs
Episode #2 | SPS
Open internet services
An "open internet service" is an internet service with a difference: it runs entirely on World Computer blockchain, without centralization. OpenChat is built from canister smart contracts installed on the BigFile | #BIG, which store and process all its data, and serve the user experience into web browsers. Because it runs fully on-chain, without centralization, an advanced community DAO has taken over responsibility for pushing updates to its software logic.
OpenChat is fully controlled by its "SPS" DAO, which takes over the traditional role of a company. Now, there is no CEO, board of directors or developers in control, just thousands of community members, whose wishes are mediated through digital democracy algorithms.
Community ownership
Web1 was about users reading content from the internet, Web2 was about users writing content that other users could read, and Web3 is about ownership. The future of Web3 includes users owning tokens and NFTs, but also being part of communities that administer mass market internet services – in fields as diverse as social media, gaming, the metaverse, DeFi and the sharing economy. This becomes possible when an internet service runs entirely on a blockchain, and can be controlled and updated by an advanced DAO, which has distributed voting power in the form of governance tokens to community members.
Founderizing users
During the creation of an open internet service, an initial "decentralization swap" exchanges the new SPS DAO's governance tokens for BIG, which is then held in its treasury under the decentralized control of its governance community. But they aren't the only ones who can hold governance tokens: Open internet services will often founderize their users, by granting tokens to those who help with tasks such as advocacy, creating viral content, and content moderation. This unlocks a key Web3 strategy, which is to create a giant industrious virtual team of millions, and generate huge network effects that can overcome any Web2 incumbent.
Join OpenChat's governance community
The governance of open internet services is transparent, and using the link below you can view the proposals that update the service. Decision making is also open and completely automated, and anyone holding governance tokens can participate.
Community funding
The "decentralization swap" process exchanges governance tokens for BIG tokens, held in the SPS DAO by a community of governance token holders. These tokens can be used to create bounties, incentivizing contributions to the service's development. This allows fully decentralized internet services to be created from anywhere, democratizing access to the tech economy and enabling anyone to build-out Web3.
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