Base layer protocol optimized for incentive networks.
nCent Labs is a Stanford University spinout blockchain research and development company. We are focused on building novel, protocol-level technologies that help people connect more efficiently. Core belief is that you have the right to own the value of the networks you create.
nCent is a decentralized protocol for incentive networks. Users of nCent are incentivized to form specialized networks to perform valuable work as a group. This work can take the form of solving problems characteristic of search / matching, crowdwork / funding, and social networking. nCent creates incentive networks through a novel blockchain protocol that offers a decentralized design, and unique transparency and auditability properties to establish integrity of the protocol. We present an initial application with focus on customer acquisition markets for highly viral communities such as sports, viral brands, and influencers. We also focus on a recruiting use case for our own internal purposes. This approach can generalize to many forms of crowd-work, and can eventually be used to deconstruct the corporation around incentives.
The Internet of today has no mechanism to properly attribute this value back to users, and therefore does not provide correct incentives. The result of this is inefficient and broken markets.
nCent enables users to realize the value of their work directly and also from utilizing their own networks. Our personal and professional networks contain a treasure trove of information about our capabilities, skills, interests and relationships.
Everyone will reconstruct the same chain of referrals by querying the smart ledger associated with blockchains, so value attribution is unambiguous, transparent and auditable. This is important because people will participate if they believe they will be rewarded accordingly, and blockchain makes this possible.
Blockchain allows the formation of distributed exchange, where sponsoring organizations can participate in markets driving value to a user, without being in a trust relationship with each other.
Scalability for network effects
Red Balloon networks and recursive incentives to date have not reached internet scale. Part of our thesis is that blockchain properties are unique and facilitate a complex contour of trust forming among a spirited community, that facilitates the scaling of these types of networks. We also address certain problems such a Sybil attacks generally, facilitating creation of ad hoc incentive programs that benefit.
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