The first seeds of economic decentralization “supposedly” started when Uber has disintermediated transportation. Airbnb also made similar disruptions in the lodging sector! And yet, if we take a closer look, we’ll see that nothing is being “decentralized” here!
The people behind Uber and Airbnb only realized that the core value of these markets lies upon the network effect of their users, rather than the cost of physical assets that they own or expend. Likewise, these latter are operating through centrally controlled platforms in a way that users have no means of participating in the value creation reaped from their use.
Are we still talking about decentralization ?
Whereof, a system of a collective decentralized marketplaces that defeats these centralized forms of online markets is something the blockchain community would hope for.
Luckily, District0x has considerably thought of that, and created what we call decentralized entities, built upon a standard open source framework comprised of Ethereum smart contracts and front-end libraries, referred to as “d0xINFRA”.
The question is how will they manage to do that?
In fact, that aforementioned “d0xINFRA” is doing all the work, by providing districts with the core functionalities required to operate an online market or community, enabling users to post listings,filter these listings and search through them. Users can also rank peers and amass reputation, send invoices and collect payments: that’s like using the roots of Big Data within something that is more decentralized and accessible to everyone!
Following a substantial model that harnesses the powers of decentralization and network effects for their own benefit, and at the expense of their users, District0x is now building vastly profitable enterprises by scientifically extracting unnecessarily high fees.
This should be a first real glimpse of a better way to do things ; free of intermediaries and rent-seeking entities, a pure p2p market on the decentralized web.The particularity of a “d0xINFRA” framework is that it is purely designed to be open and extendable, allowing districts to be customized and granted additional functionality through different uses.
From a blockchain perspective, this platform will be intriguing for people who value decentralization! If we take platforms like an ebay, an amazon, a craigslist, or an Airbnb and presume that all of these platforms swapped to cryptocurrency, and started using DNT or sidechain tokens as a medium of exchange, this alone would reverse the balances of online monopoly.
Now let’s talk tokens! The District0x Network Token (DNT), is actually a staking token that is used by holders to join districts and participate in their governance. Once you possess stakes in the form of District0x Network Tokens, you will receive an equivalent amount of voting rights in the district.
Voting rights can be used to partake in the processes that determine everything from a district’s branding, to its accepted code of conduct, to the auxiliary modules that are integrated, to the way that fees collected by revenue-generating auxiliary modules are utilized, and beyond. Once again District0x is doing great in embodying the concept of decentralization into everything they do, including laws, by-laws and authorities.
Furthermore, it’s quite intelligible that District0x has chosen to trust Aragon, why? Simple , Aragon is a smart platform that provides an easy to use interface for creating, administering, and governing virtual entities. It allows for user-friendly management of the basic components of voting right distribution, role assignments, and accounting: That should say it all !
Since the behavior of an Aragon entity can be customized by changing its bylaws, District0x found no better ally than Aragon, an already established platform that serves the core functionalities that District0x hopes to fulfill, whereof dawns a strong partnership.
For curious investors we would like to point out that the supply of District0x Network Tokens totaled 1 billion tokens that were minted by the District0x Genesis Contract: 198 million DNT are held by District0x founders, and are subject to a 2 year vesting schedule.The remaining 22 million DNT are reserved for advisors and the community rewards program.
Finally, we yearn for Districox to bring on new insights and possibly surprise us with some new reliable technology that could unify and assemble all these online marketplaces under one roof, the one of blockchain.
So, back to the first question: To District or to not District?