For any ecosystem to thrive, we believe it is necessary to ensure that the primary participants in that ecosystem are happy with the rules that govern their interactions. By participating in the Piece of Eight ecosystem, developers will no longer be beholden to large companies who dictate the rules and benefit from their hard labor. Instead, developers can work to establish an immutable, verifiable reputation score, which they can leverage to their benefit by helping to administer the ecosystem, punish improper conduct and incentivize desirable contribution.
By returning power to the developers and the users who consume their services, the Piece of Eight ecosystem enables anyone to monetize their skill set. Developers can connect directly with users who need assistance building a custom software solution, or create innovative apps of their own, which can be listed on the Foundation’s token-curated marketplace and downloaded by other users for a fee. Similarly, users or citizen developers can collaborate with desired developers based on an immutable and verifiable reputation score or utilize low-code tools provided by the Foundation’s innovation collaborators to create robust, clean applications that can be consumed by the user privately, or monetized through the token-curated marketplace.
We ensure transparency of operations, encourage desired behaviors, and discourage malicious conduct through a blockchain-based reputation management and collaboration system. Developers can increase their reputation score by delivering high-quality software solutions, curating solutions offered for sale by other developers, and resolving conflicts between users and developers. Developers with higher reputation scores will be able to charge more favorable rates for their work, and can further monetize their software development skills by helping to administer the ecosystem.
By providing an immutable record of past conduct and offering all participants with the chance to establish the rules that others must abide by, the decentralized innovation economy can operate as a self-sustaining, self-governing ecosystem for enterprise software innovation.
The Spanish Dollar, sometimes referred to as the piece of eight, served as the first world-wide currency during the 18th century. The piece of eight served as the basis for the U.S. Dollar, and was widely used through Europe, Asia, and the Americas. In modern pop culture, the piece of eight is commonly associated with pirates.
Interactions in the decentralized innovation economy are facilitated by the Piece of Eight token. Parties interacting with one another are required to post bonds, which can be confiscated in the event of improper conduct, by staking tokens. Because smart contracts cannot completely replace human judgment, the ecosystem further rewards the participants with the highest reputation scores for resolving disputes between parties. The economy keeps the most powerful participants in check by allowing all users to come together and heavily penalize bad actors in the event of abuse or corruption.
In recent years, companies large and small have come under intense pressure from customers and employees to modernize their technological infrastructure. In order to remain competitive, today’s companies cannot rely on imperfect, outdated, and poorly functioning software solutions. Industry commentators have referred to this trend toward modernization as digital transformation. Over the next two years, spending on digital transformation is expected to reach $2 trillion.
To date, nearly all of the value created through enterprise software development has accreted to large SaaS companies. By developing a decentralized innovation economy, we intend to change that. By placing the power back in the hands of individual developers, facilitating the collaboration between those developers and the businesses that need their skills, and creating partnerships with companies that offer tools to enhance the development process, we enable developers to disrupt large incumbents and capture their share of this multi-trillion dollar movement.
The Piece of Eight Foundation is building a decentralized innovation economy to facilitate individuals in cooperating with one another in the development of innovative software applications. With the advent of blockchain technology we have the ability to enable cooperation among participants worldwide like never before. The Foundation facilitates cooperation between participants in the economy through the use of a blockchain-based reputation and coordination system, all enabled by the Piece of Eight token.
As software development continues down the path of decentralization, end-users will be able to exert greater influence on the way the applications they use improve and advance. By offering a way for the end-user to directly impact the software development process, the resulting product will be more desirable to the user.