The 8gig Network’s unique staking model allows creators, users, and consumers of software to enjoy a thriving, self-governing ecosystem that is controlled by the same people who make it valuable. Participants no longer need to pay for the privilege of having a centralized power administrate interactions. Instead, they can now work to improve their reputation score in order to take on different leadership roles within the 8gig Network.
In any global marketplace, transacting in fiat currency comes with a cost. By utilizing a native token, we can reduce transaction friction and enable cross border cooperation without having to pass on additional costs to users. The blockchain’s properties of immutability and finality also provide an advantage to developers, who no longer need to worry about their ability to get paid, charge backs, or the delays associated with the traditional banking system.
Tokens also allow for the gamification of work performed in the ecosystem. While the 8gig network was created as a means of allowing individual developers to capture their share of the $2 trillion digital transformation market, there’s no reason why it can’t be fun. By creating a token-powered ecosystem, the 8gig network increases transparency, aligns incentive, cuts costs, and allows developers to monetize their skillset in a fun and interesting way.
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All businesses today are under extreme pressure to incorporate digital capabilities into all aspects of their customer-facing and internal business processes. These digital transformation initiatives will disrupt industries of every kind. The IDC estimates that by 2022, spending on worldwide digital initiatives will top $2 trillion annually.
Unfortunately, until now, individual developers have not been well-positioned to capture market share from large SaaS incumbents. In order for developers to capture the benefits of this movement and compete with large SaaS incumbents, they will need to leverage tools to level the playing field. To provide developers with a chance to level the playing field and disrupt larger, heavily entrenched incumbent SaaS companies, the Foundation is developing the decentralized innovation economy empowering developers to grab their share of this market opportunity.
Blockchain technology possesses the potential to revolutionize business models across all industries. Blockchain’s core properties of immutability, consensus and decentralization are highly sought after by businesses looking to be at the forefront of innovation and competition.
While any serious digital transformation initiative must consider what blockchain offers, most application development platforms lack blockchain-specific capabilities. Most software development efforts must therefore rely on highly specialized, rare and expensive blockchain developers to incorporate these technologies.
The 8gig Network utilizes blockchain to capture an immutable reputation score for developers worldwide while also allowing developers to incorporate blockchain-based capabilities into built applications.
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.
The Piece of Eight Foundation is proud to be supported by leading industry experts.