It’s been said that in the 21st century, time is the only scarce resource. True or not, you should spend your time wisely. But what does that even mean? Praxis is a new, innovative tool that is designed to extract value from your time and actions. It will help you get the true value from all of your actions. Ask yourself these questions:
- How should I spend my time?
- What actions should I be performing?
- How am I accounting for all the actions I perform and time I spend in my life?
- What am I doing for free?
- Which actions pay off?
- Which actions improve my life?
- Which ones don’t?
- Which actions are based on sound economic reasoning?
- Which ones are based on moral reasons?
- Which ones are based on hegemonic bonds?
It is our belief that all of your actions should be based on sound economic reasoning. If there isn’t a sound economic reason for performing an action (and spending your time), then you should not be doing it. This may sound harsh or cold to some, but it’s reality. That’s not to say you shouldn’t be charitable, or do things for free, but there should still be an economic reason for performing any action.
Up until now, it was virtually impossible to even conceive of such a tool. How could you possibly even attempt to account for most of your actions, or even hope to get value out of the myriad things that you do each day? Remember, everything has value to someone, and most actions have economic value, if only you could extract it. The biggest barrier to extracting economic value is the financial system itself – the very thing that is supposed to encourage economic activity. The current financial system only values certain actions because it’s simply too expensive and burdensome to use for most actions.
But it doesn’t have to be this way. With Incentum Smart Contracts and Praxis, it is now possible to micromanage all of your actions, get value from what you do, and create opportunity for others. The actions can of course be your professional work or work for which you have expertise. But importantly, it can also be used for actions that are now considered favors or lacking in economic value.
In Praxis, the things you act on are called itums (the same name as our token). An itum is an output from an Incentum Smart Contract. It can contain assets, such as tokenized things or coins or other cryptocurrencies, but it can also contain obligations, or other things you’ve agreed to in a Smart Contract. Each itum belongs to a ledger, and you can have as many ledgers as you see fit.
You organize your time around itums, spending it on the ones that derive the most economic value. It’s that simple.
Here’s a simple example. Say you have a Contact Me Smart Contract. Post a link to it on your social media accounts. It will accept messages from anyone, with an option to attach a payment. Then simply prioritize answering the messages based on the size of the payment! This is a trivial Smart Contract to write with Incentum. And the beautiful UI of the Praxis makes it easy for both you and your end users to interact with the contract.
Most importantly, all of this is done without a trusted third party.
Praxis will lead to extreme division of labor, perhaps the most important factor concerning productivity. Since Praxis can monetize any action, it will make economic sense to only perform the actions that you are best at, that derive the most value. And since Praxis is frictionless, even seemingly trivial actions can get monetized, creating markets where none existed before.
Start organizing your life with sound economic principles by using Praxis.