How does Web3’s social capital find similar people

Social Capital, social capital, also translated as social capital-refers to the association between individuals or groups-social networks, reciprocity norms and the resulting trust are brought to them by people’s position in the social structure Resources.

For the concept of “social capital”, there is no universally recognized definition. From its basic connotation, social capital is a concept relative to economic capital and human capital. It refers to the close relationship between social subjects (including individuals, groups, and organizations). The state and characteristics of the connection, its manifestations include social network, norms, trust, authority, consensus on action, and social morality. Social capital exists in the social structure and is intangible. It improves social efficiency and social integration through cooperation between people.

Throwing away these complicated academic definitions, the most superficial manifestation of social capital can be understood as, “When you want to do something, how many people are willing to support you based on their understanding of you and social status.”

The old man Chu Shijian went outside to seek medical treatment and founded Chucheng. A bunch of business elites are willing to contribute money and work. This is a manifestation of the old man’s social capital. Although he had no money at the time, he could make a comeback easily with the social capital he saved.

When a person encounters an emergency and needs to borrow money from a friend, is there enough people who are willing to borrow money, or even an advertisement in Moments, and whether there are enough people who are willing to help transfer? This is a manifestation of personal Social Capital.

I have heard a friend describe it in the most earthy terms. He said that social capital is “who knows you, who you know”. Although it is not comprehensive enough, it does speak to the essence.

Restricted by various factors such as technology, social scope, and behavioral transparency, traditional social capital applications are concentrated in a small area and within the scope of acquaintances. But even so, it constitutes the most important lubricant in this society.

The emergence of the Web3 network and DAO gave me a hope. Based on technology and a global collaborative network, the depth and breadth of Social Capital’s application through various agreements will be pushed to a whole new level, and a brand-new based on Social will be formed. Capital’s global credit network. This is a disruptive opportunity.

I see some fun DAOs in Discord, and sometimes I go to the founders or core contributors to chat. Everyone is very busy, why would you like to communicate with you. In addition to a simple self-introduction, one of the most important criteria for everyone to judge is discord’s view “common server” function. I have met more than one person who said, “Brother, don’t need to introduce so much, I know we are the same kind of people.” Why? Because after checking the information, we found that we have more than 20 common servers, of which a considerable proportion is only a few. A niche server with a hundred members, which shows that everyone’s interests are highly consistent, and the basic trust is thus established.

Of course, this degree of trust is still very low. The second way I use to judge whether an ID is trustworthy is to check the status of various speeches. For example, when I meet an FWB member, I will go to the FWB server to see if he is active and what he is talking about. If you are a very active member, feel more friendly, and talk about a lot of topics with good quality, then your trust will increase rapidly. If it is found that he is just airdropping on various servers, the trust level will drop to a negative number.

The identity status and roles of various servers are an important basis for trust. If a person has made a lot of contributions in a DAO with very good values, even if we have never communicated through it, it will naturally generate trust.

The scenes mentioned above do not depend on his true identity at all, but purely behaviors in DAO. I don’t need to know who he is in reality, whether he is a male or a female, and whether he has been successful in mixing.

On-chain behavior is also an important basis for judgment, such as which assets are held, which applications are used daily, whether it is a speculator who likes a bulldog or a long-term investor in a diamond hand. Which DAO vote and what vote did you vote for? These can be used to judge the situation of a person (address). In fact, some projects have begun to work in this field, and it is estimated that there will be projects soon.

A person’s actions are the most direct basis for judging whether he is trustworthy, but the data on the chain is far from enough, because it can only reflect a very small part of a person’s actions. To form a stronger Social Capital based trust network, more aspects need to be taken into consideration.

Fortunately, in the Web3 world, in a global collaborative network, a person’s actions, contributions and deep social relationships are very easy to be observed. At this time, it is combined with the identity on the chain and the characteristics of the blockchain. , May burst out great energy.

For example, I am a member of a DAO, and I agree with a core contributor based on my own observation and understanding. If he has something to do, I may be willing to provide all kinds of help, even including unsecured credit loans.

If it is not my willingness, but a certain agreement, I have made a trust decision and are willing to support him through a large amount of analysis and observation of various collaborative behaviors of the same id, identity status in the Web3 network, and data on the chain. If we all trust the judgment of this agreement, then the scene will change from a narrow circle of trust network to a global trust network. I don’t need to know him, observe him, or even know his identity, but the agreement tells me that he is trustworthy. At this time, when any Web3 participant needs funds, he can use the Social Capital he has obtained in this world to get more or less unsecured loans. When you need to start a project, it may be easy to get the investment.

There are many similar scenarios that can be expanded, and it is not only related to funds. Once this trust network is constructed, he will burst out great value. Individuals can also obtain more value based on their own Web3 social capital. This, in turn, helps the Web3 group to value their social capital more, thus forming a more harmonious Web3 network.

But think about it with your toes and know that this thing is very difficult to realize. It can’t be done in one or two days. But I hope that I can see it, and the next time it will be the time for the great gods of all walks of life to open up their minds and make innovations in this field. I look forward to this day.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-does-web3s-social-capital-find-similar-people/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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