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Journalist
Tanzeel Akhtar
Journalist
Tanzeel Akhtar
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Joe Lubin, CEO of Consensys and co-founder of Ethereum, unveiled SOVS.XYZ, a new platform designed to inspire individuals to declare their personal sovereignty.
At the Devcon 2024 event held in Bangkok, Lubin said the project reflects the vision of a decentralized world, where lives are increasingly lived on-chain, and personal freedoms are expressed through decentralized networks.
“Today, we’re launching SOVS.XYZ, a project inviting everyone to declare their personal sovereignty, as another small step toward the decentralized future,” said Lubin.
Decentralized Communities and “Network States”
Through SOVS.XYZ, Lubin invites people to affirm the types of sovereignty that matter most to them and to support the development of what he calls “Network States.”
The term Network State was first coined by tech investor Balaji Srinivasan. It refers to a tightly connected online community capable of coordinating actions, pooling resources to acquire land globally, and ultimately seeking recognition from existing nations.
Lubin explains the concept, saying, “We’ll be living more of our lives on-chain, as our finances, identities, communications, art, and entertainment are increasingly mediated by open networks and decentralized protocols. The new relationships and communities that form will be the basis of new overlapping Network States, in which we will all participate.”
Network States, according to Lubin, are decentralized communities united by shared values and ideologies rather than geography, functioning outside the limitations of traditional nation-states.
Shift in U.S. Politics and Regulatory Challenges Ahead
During his keynote speech Lubin discussed the political and regulatory challenges faced by the decentralized finance industry in the US, emphasizing the shift towards decentralization driven by regulatory uncertainty and enforcement actions.
#DevCon2024 #ethereum #DevCon #Bangkok
Listening to @Consensys founder @ethereumJoseph talk on stage — “Decentralising Consensys to Catalyze a Network State in the Emerging Decentralized Web3 + AI Global Economy”
Lubin is discussing the changing U.S. landscape #regulation… pic.twitter.com/I6TNmTjJgk
— Tanzeel Akhtar (@Tanzeel_Akhtar) November 14, 2024
Lubin highlights the potential for decentralized protocols to flourish in regions like Argentina and Asia, and predicted a future where decentralization principles will reshape global governance.
He went on to outline the vision for Web3, focusing on rigorous decentralization, open source, and permissionless innovation. Lubin also mentioned the importance of self-sovereignty, and the role of AI in collaboration and governance, advocating for a decentralized future where trust and coordination are redefined.
Understanding SOVS.XYZ Concept
The new Consensys platform SOVS.XYZ invites users to make their sovereignty statements, asserting their belief in values like financial independence, data privacy, or freedom of expression.
Through statements, users can pledge their support for a world where decentralized networks empower individuals rather than institutions, and communities are built on shared values.
In Lubin’s view, this digital declaration is more than symbolic. By allowing people to permanently record their declarations of sovereignty on Linea, a zero-knowledge rollup compatible with Ethereum, SOVS.XYZ uses blockchain’s transparency and immutability to establish lasting statements of personal agency.
“You can go to SOVS.XYZ now to attest to the kinds of sovereignty that matter most to you, and write your support for the emerging world of network states, and our liberation through them, permanently on Linea,” said Lubin.
On Wednesday, Consensys launched the Linea Association, a newly formed Swiss non-profit organization, to support the growth, development, and governance of Linea’s technology.
