Decentralization in the Web | Building a Web of Trust

Money Reimagined

Philip Rosedale of High Fidelity discusses the benefits of experimentation and exploration in the metaverse for improving governance and communal living.

This episode is sponsored by Consensus 2024

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Michael Casey’s New Book with Frank H. McCourt, their forthcoming book: Our Biggest Fight: Reclaiming Liberty, Humanity, and Dignity in the Digital Age

In this episode of "Money Reimagined," hosts Michael Casey and Sheila Warren are joined by Philip Rosedale, co-founder and advisor of High Fidelity, to discuss the history of virtual currencies and the open web. They dive into Second Life's origins and the Linden Dollar, its virtual currency. Also, breaking down decentralization's importance in web architecture, advocating for individual control over data. Rosedale emphasizes trust in human relationships over technology, proposing a "web of trust" for information flow and the potential impacts of the ever-evolving metaverse.

Chapters |

00:00 Introduction and Background of Philip Rosedale

02:59 The Origin Story of Second Life and the Linden Dollar

05:13 The Role of the Linden Dollar in Enabling Exchange

08:56 The Challenges of Designing the Linden Dollar

11:20 The Importance of Money in Trading with Strangers

13:16 The Concept of Mutual Credit and Scaling Trust

16:30 The Early Trades and Stability of the Linden Dollar

21:36 The Challenges of Aggregators and Individual Control

22:44 Decentralization in Web 3.0 and the Role of Aggregators

23:23 The Importance of Trust in the Digital World

28:42 Building a Web of Trust

33:02 The Potential of the Metaverse

40:08 Exploring New Ways of Governance in the Metaverse

Links |

High Fidelity

Crypto Council for Innovation

CoinDesk.com

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Money Reimagined has been produced and edited by senior producer Michele Musso and our executive producer is Jared Schwartz. Our theme song is “The News Tonight ” by Shimmer.

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