Foundations for an In-world Economy

Privateland's value proposition to app developers is that they can take full advantage of the economic interactions between apps and their users. To enable such economic interactions, platforms must allow three things to be traded: currency, goods and services.

Privateland will integrate a core system that enables global, instant and cost-effective payments between two users on the internet. Cryptocurrencies allow trustless payment channels to be created between parties, with a low-trust hub-and-spoke system already possible.

For the services to be provided on Privateland, we are developing a scripting system that allows developers to program interactions between the user and the application. This scripting system runs exclusively on the client side but allows different data flow models: from mere local effects and traditional client server architectures, to P2P interactions based on state channels. Developer programming in it will benefit from the availability of fast and inexpensive micropayments, provably fair play, decentralized storage, and other features made possible by the advent of cryptographic techniques using blockchain-based smart contracts.

To encourage the exchange of virtual goods, economic incentives must be in place to ensure the continued creation and distribution of avatars, items, and scripts. Since static content can be arbitrarily copied, user experience must empower social conventions that recognize original creations. By implementing an identity system to establish authorship, users will be able to track and verify author approval via cryptographic signatures.