Had an absolutely incredible time at #ETHKochi by @Web3_kerala this weekend at Kerala @startup_mission, speaking to the future stewards of Web3 in India. Young energy, many new to crpto, who didn't understand a lot of crypto, but I think they are the ones who can revive that future we wanted to build, they don't need to make the same mistakes that have been made so far. I shared the concept and the promise of true decentralization. Shared honest insights from an enlightening conversation I had with my Uber driver Daniel about the problems of decentralization, about solving the network cold start problem, about safety, security, and who takes responsibility in a fully decentralized world. The summary of the talk was also that we simply haven't reached that far yet. Except for the use case of money, we've failed to deliver that promise of decentralization when it comes to many other ideas and industries, mainly because of human greed. The promise of decentralization has just been used to extract from retail, sometimes worse than the centralized paradigm. But we left with a shining ray of hope thanks to the incredible @Web3_kerala community. We spoke for hours even after the event was over, discussing what kind of ideas we should decentralize first. For me, the highlight was this really amazing discussion with @Boldrin71 about what a community token design could look like. What could the design of this community token for #W3K look like? Imagine there's a community token, and 80% of this token is reserved for the network, for the community. For eg. there are 40 million Malayalees around the world. - 80% reserved for the Web3 Kerala network - 20% for contributors, teams, for the people building and executing this vision, event sponsors, and volunteers These token allocations are not immediately released. They are not immediately tradable because that's a big problem: when they are tradable, people dump them, there's no loyalty, and it fails to signify any true ownership. The interesting mechanism that we discussed was that these tokens, the contributor and the network tokens, all remain locked till we meet a particular network goal or a network milestone. With the example of @Web3_kerala this could be the total number of members we want to see in the community before the token is unlocked. It could be something like 1 million members join the community, and then the token is unlocked. This gives an incentive for existing members to grow the network and something that everyone works towards. When it eventually reaches that milestone of 1 million members, the network is mature enough and sustainable enough that these token unlocks for the initial community do not completely harm the ecosystem. There will still be a large chunk of allocation remaining for the rest of the network since we are allocating 80% maybe there are later milestones. Say a second milestone of 10 million members, and again, the tokens issued till we reach that milestone are locked. That was a really insightful discussion, and I felt like, okay, this is a mechanism that could definitely work. It was a power-packed, incredible event filled with superb energy in my home city. I also shared about the @decenteverythin Fund and how the next stage we're going to shortlist a few of these ideas with @Web3_kerala and the collective we're creating. We also have @buildinai4forindia from Delhi, some cool residencies @JoinEdgeCity we want to be part of this collective. hmu if you wanna be part of this collective, it's open for anyone who wants to be part of this vision, to help realize the true promise of decentralization, to contribute and bring these ideas to reality

I fell in love with crypto because of the promise of decentralization: fighting corruption and taking power back from the centralized forces that control the world. If the current state of crypto has left you disillusioned about this, you're not alone. Thankfully, there are still people who want to fight for decentralization and are excited by the magic that true decentralization can bring. That seems to be where my work at @DreamStarterXYZ and the @decenteverythin fund is heading, together with the amazing @LironAchdut. And what better place to begin than my home, the place where I was born: Kerala. I'm super excited to be here for the very first edition of #ETHKochi, and I want to meet builders who want to join me in reviving those true ideals of decentralization; to build community-owned startups where power and resources are not concentrated in the hands of a few, especially the founding team. If you're crazy enough to build for this vision come find me @Web3_kerala tomorrow (some sample ideas in the next tweet + we're hiring)