Assemble Your Crew!

Flash teams today rely on a centralized system to ensure trust between their members and the fair distribution of rewards. One can imagine centralized flash teams that fail to attribute value to its contributors. They might unfairly allocate work and rewards, for instance, or profit by skimming too much off the top.

Blockchain technology may be a path forward to scale flash teams trustlessly. On properly designed a blockchain, each work transaction is recorded on an immutable ledger. There is no central authority that can exert malicious influence. Even the participants themselves can’t abuse the system, since doing so requires contributing significant amounts of work. A blockchain can securely contain all user and token information in a decentralized way. People can engage in productive behavior without trusting one another before the fact. Everyone verifies the work performed and the distributed rewards, so it is incredibly hard to cheat the system without ramifications.

nCent affords the security, transparency, and scalability inherent to any blockchain, and it offers even more advantages for flash teams specifically. In particular, it can most effectively find and recruit the members of a flash team. Finding the right team members is much like a “needle in a haystack” problem, similar to the Red Balloon Challenge. These problems can solved by incentive programs, including recursive incentives, which lie at the heart of nCent.

Flash teams represent an idea that is much larger than outsourcing. The two main ways to organize human work at scale are firms and markets. By building the correct incentive markets to enable and scale trustless flashteams, we are moving towards a future where we can deconstruct the firm model. By allowing market forces to enter into the ossified and inefficient domains of firms in the form of flash teams and other incentive market, we are building a future of work that better unlocks our common potential.

To help us envision and build what the future of work looks like, to learn more or to discuss further about our work at nCent Labs, feel free to email me anytime: kk@ncnt.io.

Facebook Comments

More Stuff

Who accepts Bitcoin? Everybody will remember 2017 as the year when cryptocurrencies skyrocketed in value, especially Bitcoin. While Bitcoin was slowly rising since its cr...
Getting Deep Into EVM: How Ethereum Works Backstage EVM: 10,000 ft Perspective Before diving into understanding how EVM works and seeing it working via code examples, let’s see where EVM fits in the Eth...
Why Cryptocurrency Will Probably Not Substitute Real Money In The ... Well, because people have fear… we always fear the unknown, right?. And Blockchains and cryptocurrencies are still too complicated to be understood by...
bZx Network ICO Review Part 2: Backing up Your ERC20 Stash A Tough Choice Any swap of any cryptocurrency occurs on one of two types of exchanges: Centralized or decentralized. Each style carries its own pros a...
Spread the love

Posted by News Monkey