Hash, Bash, Cash: How Change Happens in Decentralized Web3 Cultures

Abstract

Abstract A Web3 lifeworld consists of an imaginary and a shared commons. A Web3 imaginary is shown to include most, if not all, of the following: (i) the stated goal or purpose of the community, (ii) the behavioral norms, (iii) the lore or history, and (iv) what is opposed. A typical Web3 commons is shown to involve three elements: hash (technical), bash (social) and cash (finance). When changes come in Web3, the response is enacted using an available lever from the hash, bash, cash model of decentralized organization, but the response must not be in friction with the community’s imaginary, or it will most likely grind to a halt. Effective response to change becomes part of the Web3 lifeworld’s toolkit.