Many watched as we tokenized our Industry Expert Network scratching their heads last quarter 2022 puzzled. At every event I attended, the MD from one of the top consulting forms would approach me and shake his head and say, “I just don’t get it. Why is using blockchain technology to offer what we basically do on Web 3 any better than merely the “bling” of Web 3 now taking place? But what was even more intriguing was the sheer volume of calls from global companies asking how can we do something similar with our senior executives and experts a little bit enchanted by the idea of company wisdom through the experts being tokenized.
First, let me explain why blockchain technology makes sense for us humans as it relates to how we share our wisdom, knowledge and ingenuity, especially in a world of Generative A.I.:
- Timestamping: Blockchain technology can be used to timestamp digital content, which provides a record of when the content was created. This can be useful for proving ownership of a particular idea, innovation, or piece of content, as it clearly records when it was created.
- Digital watermarks: Digital watermarks can be used to embed unique identifying information into digital content, such as images or text. This information can then be recorded on a blockchain, which can be used to prove ownership of the content. This can be particularly useful for protecting against the theft of images or videos created using generative AI.
- Smart contracts: Smart contracts can be used to create binding agreements between parties for the use of intellectual property. For example, a smart contract could be used to specify the terms under which a particular piece of content can be used, and automatically enforce those terms through the blockchain.
- Decentralization: Blockchain technology operates on a decentralized network, meaning no central authority controls it. This can make it more difficult for individuals to steal intellectual property, as no single point of failure can be exploited.
This is why we created our https://www.lovelyhumans.io/ project of 25+ of the world’s leading experts in a pilot launch to see what would happen if we tokenized time in a B2B market.
Some of the things we had to figure out were:
- Choosing a blockchain platform: Once the use case has been determined, the next step is to choose a blockchain platform. Several blockchain platforms are available, including Ethereum, EOS, and Stellar. Each platform has its own strengths and weaknesses, so it’s important to research and choose the one that best fits the use case. We went with Opensea for the pilot.
- Develop the smart contract: A smart contract is a self-executing contract with the terms of the agreement between buyer and seller being directly written into lines of code. Smart contracts are typically written in programming languages such as Solidity, Vyper, or Rust, depending on the blockchain platform chosen. The smart contract would define the terms of the tokenization of human time and wisdom, such as the rate of compensation, the duration of time being exchanged, and any conditions or requirements for the transaction.
- Develop the user interface: A user interface (UI) would be necessary to make the platform easy to use for individuals looking to buy or sell their time and wisdom. This would typically involve building a website or mobile application that allows users to interact with the smart contract and purchase tokens.
- Deploy the smart contract: Once the smart contract and user interface have been developed, they would need to be deployed on the chosen blockchain network. This involves uploading the smart contract code onto the network and making it available for use.
- Launch the platform: Finally, the platform can be launched, and users can begin buying and selling tokens for human time and wisdom.
Use cases of NFTing the time and wisdom of senior executives, ambassadors and experts in a corporate environment include:
- Creating a learn and earn engaging NFT program for young recruits to access NFT time with senior executives. Let’s face it, new faces = new innovation and insights in this emerging world and immediate access to the seniors leaders can be invaluable to innovation and problem solving.
- Tokenizing company experts time so there is a structured approach for them to do side hustle projects to expand their own wisdom. Think google who allows 20% of time to be spent on other projects other than their core work.
- Using NFTs to jazz up your rewards programs with Ambassadors
- Creating a NFT collective wisdom cloud across and accessible to all departments of the organization to overcome groupthink , silo mentality and bolster innovation
- It’s new and cool + you need to wake up your old school dying brand and organization with your employees and customers ( this we do not encourage but it’s a reality many businesses are facing)
Now back to Generative AI stealing all our human ingenuity and wisdom, blockchain technology can ultimately protect ideas and content from being stolen by generative AI.