Eco Explore II: Open Systems Will Win
“99 times out of 100, all else equal, given the right tools, an open system beats a closed system.”
— Packy McCormick
It’s been a few days since we hosted Eco Explore II.
Once again, the support for Eco’s mission and vision blew us away—the momentum behind the movement we’re creating together is truly amazing.
Today we’re checking back in to provide a quick recap, share some reflections, and review our roadmap moving into 2022.
Most importantly, we accomplished our number one goal: communicating the inevitability of Open Systems.
Open systems are defined by two fundamental characteristics: being built on an open standard, and allowing for open movement.
It’s impossible to understand open systems without grasping the converse: closed systems. Closed systems only allow certain platforms to build on them, and users can’t move what they own (or, worse, they don’t even own anything at all).
Closed systems create an adversarial relationship between platform and consumer; they force us to play a zero-sum game within walled gardens.
But we believe it’s inevitable that open systems will outcompete closed systems.
Because open systems force true competition between service providers—because open movement allows users to freely migrate from one to another.
Andy, our CEO, put it this way:
“It's inevitable. Always has been. Whether from philosophical conviction or long-term pragmatism, people are realizing that open systems will win. And this realization gives you two choices: Stay closed and extract rents as long as you can or build something that will survive the course of history by starting open.”
Open systems make things better for everyone, and they let people win together. And, although it’s harder to build an open system, the rewards are higher.
So—what does this look like practically?
Well, we’ve always said that Eco Points are “for research purposes only.”
But during Eco Explore II, we unveiled the next step for Eco Points: the world’s first open rewards currency.
We explained how a key problem with today’s reward points is that they’re closed systems, operated by single entities who issue and redeem points. These entities have no real incentive to serve you well, because they know you can’t leave.
An open rewards currency flips that paradigm.
Such a rewards currency would be built on an open standard that allows anyone to integrate it, and would allow for open movement—users could take their points anywhere. Importantly, both open standards and open movement create the checks and balances necessary to bring the system in alignment with you.
When it comes to Eco Points, we envision everyone and anyone becoming a participant in—and owner of—the system.
So where can Eco Points be redeemed and used?
That’s where we need your help.
We announced the first few opportunities to redeem your Points, all of which are coming soon. Anima.supply is creating beautiful limited-edition NFTs that you’ll be able to get with Eco Points. We’ll be opening up the ability to buy time with some remarkable people with Points. And co-op commerce will let you buy a personalized “basket of goods” with Points.
But these are just the beginning—they’re meant to serve as inspiration. There’s so much more we can do with Eco Points, and that’s why we want your thoughts!
And speaking of Twitter…
Eco Points are now sendable on Twitter.
That means anyone with a Twitter account can earn and !send Eco Points!
Check out the account called eco_accountant, read through its Tweets, and start spreading the Eco-love.
It’s been amazing to see our community continue to grow and embrace Points as a medium for rewarding the “intangible yet valuable.” Check out an awesome video created by our Eco-mmunity here that touches on these ideas.
Packy kicked off our series—“All Roads Lead to Eco”—which we’ll bring to you during subsequent Eco Explores. With this series, we’ll introduce you to the big thinkers whose ideas have influenced both Eco’s vision and mission, and we’ll illustrate how those ideas take shape in both Eco’s product and road map.
Packy covered a wide range of topics—from the open value chain of the metaverse, to open and closed systems, to the cooperative economy, and the Great Online Game. Check out the video to see it all.
Last, we updated our community on some important product milestones.
Like we’ve said from the beginning, Eco Explore events are public forums that hold us accountable for our past commitments and our future goals.
During Eco Explore I, we announced two upcoming features: Eco Bill Pay and the Eco Card.
Our team delivered—both Eco Bill Pay and the Eco Card are now live!
All else aside, the bottom line is this: open systems are inevitable, we’re building one, and our earliest users will win with us.
And now, since Eco Points are now available on Twitter, anyone can start using the world’s first open rewards currency.
Our Eco community is the heart and soul of our company, and it feels like we’re gathering more and more momentum everyday.
So, thank you.
Thank you for your belief, your support, and your feedback. Keep sending us your ideas and your thoughts, too. We’d love to hear your ideas about how to use Eco Points.
We’re excited to continue sharing regular updates on our progress with you, and we hope to see you at our next Eco Explore event.
And remember—the moon is not enough. Never was. More to come soon.
Until then, keep your eyes peeled.
Or, if you're ready, sign up for Eco
Sign up for Eco