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Ron Eglash's avatar

Great mediation on the need for objective 3rd parties, and our hope that machines could fulfill that role. In one sense money also plays mechanistic "neutral 3rd party" within commitment pools, because USD or KS are commonly used to help provide a common language of value.

In contrast, asking people to perform the job of neutral 3rd party is often filled with strife, as your example of Judas explores. One reason for that is the failure of Plato's logic: the expert ("philosopher king") is not necessarily the least biased.

An alternative can be found in the wisdom of the crowd. A "jury of your peers" or a scientific journal "peer review" and democratic voting are all cases in which we hope that the wisdom of the crowd will act as that objective third party. And that's why Wikipedia has largely replaced Britannica.

In the broadest sense, commitment pool networks replace the expertise of billionaires ruling the economy -- philosopher kings like Elon Musk -- with an economy ruled by the wisdom of the crowd.

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