Despite a broader decline in the cryptocurrency market, the Shiba Inu (SHIB) community has remained in high spirits as they continue celebrating the recently launched Shibarium layer-2 scaling solution.
However, amidst the ongoing excitement, Kaal Dhairya, a key Shiba Inu developer, recently shifted focus to a significant revelation known as the “Shib Paper,” which was recently unveiled. Unfortunately, the excitement around Shibarium somewhat overshadowed this noteworthy announcement.
Plans to publish the document, previously called the “Worldpaper,” were first revealed in June by LUCIE, Shiba Inu’s chief marketing strategist. The 26-page document, which is written by Shytoshi Kusama, the mysterious Shiba Inu lead developer, essentially lays out the architectural plan for the Shiba Inu decentralized digital realm.
In the paper, Kusama introduces the “Shiba Inu state,”- which he says is all about shared success in a world moving towards decentralization and empowerment. In this state, digital ideas come together with the values of real communities, such as fairness, technology, being open, and working together. The paper then clarifies that this isn’t just about quick achievements but about staying strong and successful for a long time, even for future generations.
The paper further outlines its constitution, also known as the “Canine Code, which sets out 22 principles that are expected to guide the so-called “Shibizens.”
The paper states:
“Values of loyalty, unity, and service are revered. Citizens, referred to as Shibizens, engage in mutual respect and pledge commitment to collective ascent. Ensuring every transaction and decision is transparent, the Shiba Inu State transcends being just a collective, evolving as a sanctum of individuals pursuing shared enlightenment.”
Kusama also highlights 15 challenges currently facing the crypto sector and the Shib State plans to resolve, including scalability, steep transaction fees, governance intricacies, and community integration.
Additionally, he outlines the primary global challenges the Shiba Inu nation addresses, encompassing issues such as the concentration of power and wealth and worries regarding protecting personal information.
To tackle concerns about data privacy, the Shiba state introduced a self-sovereign identity (SSI) framework, which allows individuals to maintain total control over their data, ensuring their privacy and security.
That said, built on decentralization, transparency, and fairness principles, the Shiba Inu economy strives to create an inclusive system rewarding active participation. Central to this is the SHIB token, enabling payments, services, and staking rewards.
Although still young, the Shiba Inu economy could become a major cryptocurrency contender, backed by devoted developers and supporters committed to an equitable system benefiting all participants.