Introduction to
Data Economics
A series about the fundamentals of Data Economics and the Lydion DEOS
The Introduction to Data Economics series of papers is designed to introduce the concepts driving the science of Data Economics and Lydion technology to readers of varying interests, expertise, and technical backgrounds. Our goal with this series is to get readers from all backgrounds as excited about the potential of the science of Data Economics as we are. We want to help readers imagine and actualize the impact that Data Economics (and principles behind the Lydion DEOS) can have in solving the problems they care about and creating new opportunities for their companies, communities, and families.
The latest versions of the first published chapters of the series are available below, along with a companion deck of explainer diagrams and slides that illustrate the various concepts discussed in these chapters.
We recommend starting with the Prologue followed by “Chapter 1: On Value, Outcomes, and Data”. The Introduction to Data Economics and Lydion DEOS slide deck is a good companion to Chapters 2 through 5 and helps illustrate many of the concepts outline in these chapters. We recommend browsing through the slide deck before reading these chapters and using it as a reference while reading the chapters.
Data Economics is a nascent science, and along with releasing new Chapters to the Introduction to Data Economics series, the DECO team will also release updated versions of previously-published chapters incorporating feedback and learning gathered from the Lydion Insider community of academic and industry partners.
Thank you for joining us on this exciting journey into Data Economics and please reach out to us if you want to get involved in the development of the Introduction to Data Economics series, which we eventually intend to publish as a textbook.
- Arka Ray & Jennifer Hinkel
Prologue: A Primer on Data Economics
The Science of Value and the Lydion DEOS Engine
A brief introduction to the science of Data Economics, the motivations behind the discipline, and the Lydion DEOS software engine that brings Data Economies to life through Lydion DENETs (Data Economics Networks). Also serves as a prologue to the Introduction to Data Economics series of papers.
Chapter 1: On Value, Outcomes, and Data
This chapter begins the Introduction to Data Economics series and explores the roots of Data Economics: the growing need for the expansion of the language of expressing and communicating value to address the “big” challenges and opportunities we face, and by extension the need to expand the frameworks offered by the field of economics.
Introduction to Data Economics and the Lydion DEOS: A Visual Explainer
This slide deck is a companion to Chapters 2 through 5. We recommend browsing through this slide deck before continuing and then using it as a reference while reading these chapters.
Chapter 2: The Fundamental Concepts of Data Economics
In “Chapter 2: Fundamental Concepts”, we outline and summarize the fundamental concepts driving Data Economics and the Lydion DEOS as a starting point for further exploration of Data Economics and Lydion technology, as other more advanced papers will often refer back to concepts first introduced in this paper.
Chapter 3: Types and Examples of Data Economies
In Chapter 3 of the Introduction to Data Economics series, we explore the “Mixed” and “Pure” Data Economies along with real-world examples for each type that help build intuitive understanding of Data Economic Frames and other key concepts.
Chapter 4: Deeper Dive into Fundamental Concepts
Chapter 4 of Introduction to Data Economics dives deeper into the Fundamental Concepts introduced in Chapter 2 and explores such topics as Data Economic Frames, Data Asset Markets (DAMs) and their components, Data Economic Networks (DENETs).
Chapter 5: Introducing the Lydion DEOS and its Functions
Chapter 5 introduces the Lydion DEOS as an implementation of a Data Economics Operating System (DEOS) implementing the Data Economic concepts outlined in Chapters 1 to 4, and outlines the functions and methodology of the Lydion DEOS in implementing Data Economic Frames through Lydion DAMs (Data Asset Markets) and the Lydion DENETs (Data Economic Networks) that connect them.
In Development: The Next Chapters
Following Chapter 5, the Introduction to Data Economics series will expand into a few parallel tracks.
The Economics track will build off the concepts introduced in Chapters 1, 2, and 4 and explore the philosophical and practical economic implications and impact of Data Economics and DEOS within the context of micro and macro trends in economics, finance,and the expression and transaction of value using digital assets. The Mathematics track will build formal mathematical and economic structures for foundational and advanced Data Economic principles, building off concepts introduced in Chapters 4 and 5. The Applications track will explore details of the architecture of the Lydion DEOS and the methodologies and best practices for building Data Economic Applications capable of powering DENETs that implement powerful Data Economic Solutions across sectors. This track will also explore the specific Data Economic Solution applications that can be (and are being) built using the Lydion DEOS and the types and functionality of Data Economies they are implementing, building off the concepts introduced in Chapters 3, 4, and 5.
If you already have a Lydion account, you will receive updates when future chapters of the Introduction to Data Economics series are published.
Further Reading on the Lydion DEOS
The following stories go into more detail on the architecture of Lydion DEOS v0.1. Architecture and API details for Lydion DEOS v0.2 are currently in development and are expected to be published in 2022.
Lydion DEOS V0.1 - Architecture Summary
The Lydion DEOS v0.1 Architecture Summary contains diagrams and associated slides that discuss the basic architecture of a Lydion Data Economic Application (DE-APP) and the components that make up the Data Asset Markets (DAMs) and Networks (DENETs)
Transactionally-Minted Workchain Data Structures - Provisional Patent
The Transactionally-Minted Workchain (W-chain) patent application translates the basic “Workchain” data structure driving Lydion DEOS and its implementation and application methodology into a series of claims that forms a part of the overall patent stream being developed around the Lydion DEOS. Note that this draft is undergoing heavy updates, but is published for Insiders as a companion to the Lydion v0.1 Architecture Summary
How Data Economics Networks (DENETs) Invert the Traditional Economic Loop
In a traditional economic system, third parties generate demand for currencies by requiring their use for various economic “loops”—such as paying taxes or receiving wages. Data economic systems invert those loops, allowing individuals or organizations that perform work and create value to also generate tokens of value useful within the system.