Economic Decentralization
Economic decentralization is related to the economy of Web3 systems. The emergence of programmable blockchains (e.g., Ethereum, Solana, and Avalanche) and digital assets (e.g., ETH, SOL, and AVAX) unleashes the ability for open source and decentralized systems to eventually have their decentralized economies (i.e., autonomous freedom and market economies).
This is a key breakthrough: Open source and decentralized protocols for previous generations of technologies (e.g. Web1, e.g. HTTP, SMTP, FTP, etc.) stagnated because they lacked the ability to incentivize continued development and/or further investment of critical resources back into their systems. This left fertile ground for the emergence and success of centralized companies of Web2, as they were able to leverage their own efficiencies and resources to build products and services beyond those of Web1. But this centralization has also led to countless examples of abusive user rights and aggressive commission rates.
Now, the technologies that support Web3 make it possible to create more complex open-source and decentralized systems - and enable decentralized economies to form around them - that will enable Web3 products and services to compete with and eventually outperform Web2 products and services.
Rocket Video will build a Web3 system that facilitates the formation of decentralized economies through carefully designed decisions that will allow our system to accumulate "value" from a wide range of sources - be it information, economic value, voting power, or other forms.
Rocket values the contributions of Rocket users and is determined to distribute that value fairly among system stakeholders based on the contributions. To achieve this, the Rocket system grants meaningful power, control, and ownership to system stakeholders (through RVT, the Rocket NFT, decentralized governance, etc.). This in turn encourages stakeholders to contribute meaningful value, as they have the power to decide how their contributions are treated and rewarded.
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