Introducing REY: A social discovery layer for the new digital economy
An open value exchange framework
There are currently far too many economic disparities between almost every nation-state. This is mainly due to the power and influence that large banks and institutions hold over policymaking through outdated legacy formations and corruptible governance systems. But since the inception of decentralized consensus, we’re finally able to access key information to build more effective ways to store and exchange data with a higher degree of accuracy and transparency than ever before.
All of this has led to the emergence of a new vast frontier expanding at phenomenal speeds, known as the open web.
‘Open web’ is a sweeping term — it encompasses technical concepts like open-source code and open standards. It also encompasses democratic concepts like free expression and digital inclusion. But there’s a single underlying principle connecting all these ideas: An open web is a web by and for all its users, not select gatekeepers or governments. — Mark Surman
Yet, there remain many ideological disagreements with no clear, unified infrastructure for mainstream adoption of the open web as a main premise for human coordination. A major reason being the lack of simplicity in user experience, the silent tug-of-war occurring behind the scenes over who will capture the next global shift in the digital currency race and the limitations that come with the first iterations of any new ground breaking technology.
We, however, believe that the next evolutionary step in human coordination will be centered around a new digital economy, designed from the ground up to be fair and culturally inclusive — having no biases towards race, social status or otherwise. This human-centric economic design will allow people anywhere in the world to access equal opportunity, gradually transitioning the current web away from the closed-wall garden model and ushering in a new age of innovation, pivoted around public networks and open platforms.
To achieve a stable digital economy centered around human input, we need to agree on a unified infrastructure and migrate into such stateless, permissionless, and trustless technologies least prone to corruptibility, then constantly optimize and evolve those systems into a common standard.
Most importantly, we need to be able to hold others accountable for bad policymaking, automatically. But first, we require the ability to access those data streams on which governance is built upon and have the means to evaluate them through a clear moral compass.
Addressing the elephant in the room
Nobody cares about infrastructure. They care about the apps that run on top of that infrastructure. We need killer apps… Programmable money isn’t enough. We need the interface to that money… Regular folks don’t care about privacy and security until it’s ripped away from them by force in war or depression… Instead the killer app will just have to gift them privacy and security without them even knowing it’s build right in. — Daniel Jeffries
Blockchain technology was the very first real breakthrough towards this open economic design, and it provided us with the chance to use the concept of digitally distributed ledgers as a source of verifiable truths: whereby transactions and interactions are extremely difficult to undo, giving everyone a fair chance to participate in this sovereignty preserving approach.
This does not come without any issues, especially when immutability in ownership has been introduced to a market without prior conception of self-governance and proper custodianship.
Bitcoin was the first successfully executed decentralized application built on top of a blockchain network — one that scaled against all odds — paving the way for a new generation of tech-savvy enthusiasts and cypherpunks that pushed a strong narrative of data privacy and ownership, leading to the rise of many grassroots movements working tirelessly to bring about this very well needed space and way of being.
Arguably so, a lot of the same financial tools used in traditional finance that were only accessible to elite groups, such as hedge funds, were now sitting in the hands of retail investors. This was yet another opportunity for some of the same powers-that-be to walk in on the parade and try to smear the image of decentralization and its early use-cases.
Normally, Decentralized Finance should aim to establish new standards in terms of transparency, access, and monetary models, but instead the majority of DeFi tokens are controlled by malicious actors or/and use inadequate economic models that are on the verge of implosion due to their archaic monetary policies. Interest rates fast become unprofitable for holders while emission blocks reduce to fight inflation, often leaving later entrants with an irrecoverable financial loss. — DeFi Labs
Despite all of that, crypto based markets continue to see parabolic economic growth unlike any other industry or discipline in human history. This is due to the absolute freedom that decentralization itself as a concept provides, allowing virtually anyone anywhere globally to access tools like DeFi as a medium for creativity. In just a few years since the inception of smart contracts on the Ethereum network, countless other networks, forks, layer 2s, base layers including hundreds of decentralized applications and quite literally tens of thousands of tokens are now all in constant competition over capturing new markets while having ‘skin in the game’, i.e. being the first movers in a space despite its uncertain future.
This, of course, attracts many con artists and vaporware products with absolutely no utility, and sifting through the cryptographic night forest cannot be without any risk. It is this risk-reward model that can become our friend while still being able to seek other use-cases void of volatility, like the rise of algorithmic stable coins and other soft-pegged token economic models.
There is no one model-fits-all. Humans are different and unequal, and it is this very premise that allows us to delve into the unknown and bring forward a radical change that has a real fighting chance against all forms of capital control, oppressive structures and rigged systems. This narrative opposes our current global economic models that tirelessly enforce top-down hierarchies, as they bottleneck innovation and human creativity and enable a debt enslaved population via their power-hungry monetary policies.
To avoid this same history, in which the serpent ends up biting its tail, we will require a more coordinated infrastructure with a simplified end user access point for the open web: one that unites good actors under a polished value system, discouraging corruption and encouraging fair play all while maintaining full autonomy, censorship resilience, data privacy and anonymity, regardless of the underlying technology and who gets it.
You should not have to worry about learning what indexing means every time you want to use a search engine, but you surely have to worry if this search engine is collecting and selling your personal data without your consent, or worse, without your knowledge, due to the obscurity of user-agreements.
We believe that humanity will eventually succeed in iterating a version of the open web that finally frees us all from the shackles of web2.0 identities, replacing them with pseudonymous inventories and/or any other combination of possibilities that no one has conceived of, yet.
The end of chasing knowledge advantages
REY is this nexus, connecting decentralized networks with many open-source technologies. A new futureproofed central space where individuals and communities are incentivized to gather, explore, and grow the open web together at warp speeds with a fraction of the usual associated costs.
We can achieve this through an all-inclusive, community-owned platform that replaces legacy-based venture models by democratizing the free movement of value chains across all digital economies without the need for any intermediaries, making it one of the fastest most effective ways to connect, organize, develop and scale anything using the open web.
Rey is on a mission to assist people everywhere in making the most informed decisions online through its human-centric economic design.
It does so by short-circuiting the need for single-minded ideologies via its unbiased framework and accessible products. Our goal is to help ensure that the open web remains true to its core fundamentals, whereby not only private circles receive the best opportunities first. Instead, power is given back to active participants by enabling them to exchange multiple value systems in a permissionless fashion. This allows anyone dependent on the ownership economy to gain access to resources instantly, quickly validate ideas and incentivize contributors while maintaining autonomy and without worrying about the complexity and/or compromise security.
For the past year, a collective of individuals from diverse backgrounds and industries have been working together, preparing to develop this framework and bring a diverse skill set into it. Business-savvy tech entrepreneurs, product developers, platform managers, veteran designers and artists, financial experts and advisors, as well as experts in fintech and corporate law, are teaming up to build this supercharged abstraction layer for the open web.
This consists of developing a modular frontend user-interface with a unified incentive stack powered by a sustainable financial primitive, fit for a future where the shared ownership model is the standard for human coordination.
By bridging real-world applications that drive open web use-cases into mainstream adoption through radically transformative user-centric products made for scale, we are essentially combining some of the best universal principles of the past with the most effective practices of today.
Subscribe to our medium channel for the release of REY’s Light Paper and be an early community member or contributor by emailing contact@rey.team
