District 0x: Blockchain Token – What is it?

3 min read

In this series, we will cover the different types of blockchain platforms and cryptocurrencies on the market right now.  We’ll give you a quick description of each blockchain/token, its function, who is their competition and where you can learn more. Episode 25 of Blockchain Token covers District0x!

District0x defines themselves as one of the first blockchain-based social networks. District0x is comprised of different unique communities called districts. The DNT token gives users voting rights which allows the community to shape the network! Watch Disruption Joe as he breaks down the District0x project!

District 0x is one of Disruption Joe’s favorite projects. It’s an Ethereum token, but it is also collaborating with a few other projects, such as Aragon network for governance and IPFS for its storage.

District 0x sees that being part of a district or community of like-minded people that is fully decentralized is the future. Through the D0x Infra Framework, using the Aragon governance and IPFS storage, they’re going to create a system where members can stake their District 0x tokens (DNT – District Network Tokens) for equal voting rights in the system. Members can stake their DNT tokens to be part of a community where they will then get equal voting rights in that community system.

Currently there are three districts made. There’s Meme Factory, Ethlance, and Name Bazaar. They’re looking to add five more districts very soon.

So what does it mean to be part of a community or a district in District 0x? Well, it means that you can search for other members, post and list things like jobs that you need, or things you need to find through the community. You can give payments for those items and services rendered, and it also allows you to track a ranking and a reputation within that district and within the District 0x Network.

Through the combined power of collaborating with Ethereum network and the Aragon network, I think that District 0x has a great chance of being one of the first products that will allow anybody to create their own decentralized autonomous organization. District 0x is a great step towards bringing us to the future and the promise that blockchain really gives to us all.

So if you’re as excited about District 0x as I am, the first thing you should do is check out their website and maybe even create a community proposal where you can suggest what their next district should be like! I said they’re gonna add five of them soon, so check out their website!

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