Xord From First Principles; Make Web3 Usable for 1 Billion People

Background

Xord is a Web3 R&D and Investment Company helping to contribute to the development of technology and funding new ventures. We are a mission-driven company, and being mission-driven means existing for a purpose.

In just over three years that we have existed, we have reinvented ourselves many times. We have tried many new things and seen failures, but we have kept going. At the start of this year, we started asking ourselves again the reason for the existence of Xord.

We sat down and tried to imagine the world from First Principles where the promise of crypto and Web3 was fulfilled. We came up with 16 axioms that form the foundation of our thinking and our company today. For the first time in the history of Xord, we have a solid foundation to build on.

Those axioms are as follows:

1. The value would be given to the users and builders instead of a few shareholders.
2. People want equity and access to open financial and economic systems.
3. People want global reach and accessibility for exchanging data and money.
4. People care about privacy/decentralization only if they are better than centralized systems. They want convenience and ease of use.
5. People have and will always want faster and low-cost transactions.
6. New forms of value will be created in the form of money, data, and composability.
7. New forms of value will be monetized such as social capital and cultural capital.
8. The new internet will derive the vast majority of its value through protocol and data composability.
9. Consumers will be the new marketers.
10. The world would be better off if intellectual properties were open source.
11. Identity and privacy will be human rights.
12. Network economies will be designed in a way that acting in the interest of the public would be more profitable than acting selfishly.
13. Token would be the new form of ownership. An internet orchestrated with tokens.
14. Collaboration will win over competition in most cases.
15. The role of investors will be more long-term and geared towards acting in the interest of the community.
16. Digital democratic organizations will be formed that exist entirely on the trust layer of the internet (blockchains).

These axioms might seem obvious to many people, but for the first time, we were able to articulate what had always existed in our minds. These axioms will change and improve in the future as we close the knowledge gap. We want to provide each citizen of the world the ability to be truly free. For the first time in the history of humanity, we have the technology to do it. We intend to create a legacy that advances the cause of humanity.

The design of the internet had a fundamental flaw: the absence of a trust layer to allow strangers to transact. This is why we have always relied on big technology companies to mediate our interactions on the internet. Today we have the technology that allows us to democratize institutions. We can now build institutions and communities that do not take the sovereignty of the individual for granted and allow anyone to take part in it. We see digital organizations called DAOs based entirely on the internet doing massive public good. 

Redefining Our Vision

We redefined ourselves once again, this time to focus the next 10 years of our company’s efforts to give freedom to the people through the use of decentralized technologies. This is the reason we have now stated our 10-year goal as:

“Make Web3 products usable for 1 billion people” 

“Usable” is a key term here. The current technology cannot support billions of users transacting every second. We aspire to make that possible.

Web3 is more than just a set of technologies. It’s a movement to decentralize the internet. This transformation has to happen. It’s just about when.

Today the Web3 ecosystem is clumsy and suffers from bad user experience. If we truly want to accelerate the world’s transition to decentralized technologies, we have to make them usable for the average person. The user experience of the next generation of the internet needs to be as good if not better than what we have today.

We now know our purpose:

“Xord exists to accelerate the world’s transition to Web3” 

The world is shifting more towards collaboration. In 2021, more than 34k developers contributed code to open-source crypto projects. ^[1]

The DeFi sector has grown from 0 to more than $100B in less than 2 years ^[2]. This growth is bound to extend in the coming years as better applications are developed. As more and more people understand the value and accessibility that blockchain-based protocols and products provide, the adoption of Web3 is going to increase manyfold.

Xord’s vision to onboard 1 billion users on Web3 can be imagined as our contribution to making the world decentralized, transparent, and honest. The dawn of the 4th industrial revolution is inevitable, and we are positive that through the initiatives taken by Xord, this transition can be accelerated.

References

1. How Many New Developers Joined Web3 in 2021? - Laura Shin (Jan 7 2022)
2. Introducing the 2022 State of Crypto Report - Darren Matsuoka, Eddie Lazzarin, Chris Dixon, Robert Hackett (May 17 2022)