Caterpillars and Butterflies.
Big Mother’s PiP, a new content distribution platform for the web––is broken down into two distinct phases, Caterpillar and Butterfly, as we roll out and deploy decentralization into the world of media, art, governance and finance.
You can read about Caterpillar phase here if you are interested, but this article is a tease about the “Butterfly” phase of PiP, which fully decentralizes the web down to viewer, creator, and/or sponsor. Butterfly launches a true attention media marketplace, as detailed in our Whitepaper. which describes how a true attention currency can form by creating P2P insertion orders that are distributed through a decentralized server using nothing more sophisticated than a bittorrent network.
We discovered an incredible thing.
Natural Human Attention is a non-zero sum decentralized and permissionless global currency.
Attention has been a currency since the dawn of civilization. Our natural attention was, is, and will continue to be the only “global” currency the world could ever possibly have. What’s more, our naturally occurring global currency is a non-zero sum crop, eternally replenishing itself moment by moment, day by day, year by year. Other than solar energy as life sustaining source, attention is the only other resource that has this unique property.
Because attention is a naturally replenishing resource, we should be able to do novel things with that if we can find a way to distribute and store that naturally occurring value.
Back in 2018 when PiP’s “attention currency” was being designed, and BAT token was pretty impressive, rolling out a Basic Attention Token that could pay viewers when they see ads, we went in to design an attention currency for our system, we realized that natural attention already is a currency, and nothing could replace that, but something could capture it.
Our system does not “create” an attention currency in the Butterfly phase.
What we have done is something similar to what solar energy markets also do: develop a distributive decentralized network that can store, sell or trade that value as it distributes attention into the system. All our currency does is distribute the transaction between the viewer and the content creator; and pay out all respective parties in whatever currency they buy or sell media in.
Our attention asset is really just a “P2P insertion order” with a novel type of base three denomination instead of base 10 like all other currencies. It is hyper-flexible, even demonstrating both fungible and non-fungible properties.
Because our natural attention already is a natural currency, and already “wraps” all other currencies, fiat or permissionless––that’s what our unique P2P insertion order does as an asset, it can wrap any other currency, creating a novel new type of financial instrument that is both fiat and crypto friendly, compliant and stable.
Stability through remittance
Our novel type of financial asset allows transactions to be distributed and measured by the value of attention solely as it trades on media markets, averaging currently around $450B a year globally, which enables our unique financial asset to distribute and store the actual attention value, the real resource driving the entire system.
As global media marketplaces require a form of remittance banking to accommodate payout systems, which can be distributed and measured in the actual value of attention as it trades on media marketplaces, this creates a unique opportunity for introducing stabilization into the world of digital currencies, producing a true micropayment for the web that is highly flexible, can interact with any financial environment, can become gamified without becoming a risk or loss.