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
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