The internet can be a big and daunting place, with information strewn everywhere and in hard to find places. district0x, like it’s namesake, attempts to organize this by creating a network of communities and marketplaces with decentralized governance. This allows for cooperation and decision making to flourish.
Districts and Specialization
Communities with common goals can band together into districts. district0x allows them to exist as decentralized entities based on technology from the Ethereum network. They can decide on their own rules and method of governance. So instead of a top down, hierarchical structure with many levels of management, everyone can get a say depending on the rules voted by the masses.
Districts are given complete autonomy so in theory they can be very different from each other. It is up to the users to decide for themselves what kind of rules they want.
How it Works
It uses a combination of technologies and systems:
- Ethereum – smart contracting system
- IPFS – file storage
- Aragon – voting and governance
Real world applications?
Using the technology of district0x, it is possible to add extensions and auxiliary modules to the existing framework. One example given was the integration of google adwords.
This is all fine and dandy, but it needs to do more to be able to differentiate itself from other DAOs, Decentralized Autonomous Organizations. It is a great platform to enable people to come up with the next big thing, but it only provides the tools and not the actual idea.
The district0x Network Token (DNT)
The DNT can be used as stake to enable voting rights on any of the districts in the network. It is used to promote cooperation and participation. Voting rights are used to come to a consensus on the rules of how the district is to be run.