← All episodes

Filling Our Cups in ReFi with David Fortson (LOA Labs)

18th Jun 2024 Gemini 1.5 Pro

David's Background in Environmental Activism

David's journey in the environmental and social impact space began at a young age with a spirituality of nature class. This experience ignited a passion for ecological activism, leading him to participate in beach cleanups, advocate against oil drilling, and engage in political organizing. He even ran for office and was elected at a young age before transitioning into lobbying and advocacy work. These experiences instilled in him a deep understanding of human behavior, communication, and the dynamics of power.

However, David eventually grew disillusioned with the limitations of traditional environmental activism and the often-degenerative nature of politics. He felt like the odds were perpetually stacked against meaningful progress.

"We needed to understand that as long as the capitalistic framework was driving our economic decision-making that if we didn't get further upstream to where economics met policy... that what we need in order to find a better equilibrium with our relationship with the planet, we're just gonna keep losing."

This realization led him to explore technology and business as potential avenues for driving positive change, ultimately leading him to Web3 and the regenerative finance (ReFi) movement.

The Promise of Web3 for Ecological Regeneration

David views Web3 as a potential paradigm shift in our relationship with the planet, a way to "program values into value, into money." He believes that by integrating ecological and human values into economic systems, we can create a more harmonious and sustainable future. This technology, he argues, allows us to move beyond the limitations of traditional activism and effect change at the level of economic incentives.

He acknowledges the concerns surrounding the financialization of nature, but argues that economic systems are already deeply entangled with the natural world, often with destructive consequences.

"The economic system is already entangled in nature... It just only seems to value extraction and degradation. Like, why is a tree worth more cut down than standing? That's the current economic paradigm and system that we have. "

He sees Web3 as a tool for redesigning these systems to value and incentivize ecological regeneration.

Bridging the Political Divide with Web3

David believes that Web3 has the potential to bridge the political divide and create more effective governance systems. He laments the current state of political discourse, where opposing sides often talk past each other and struggle to find common ground. He argues that Web3 technologies like blockchain and DAOs offer new possibilities for collaboration, transparency, and shared decision-making.

He is particularly critical of the resistance to crypto from some on the political left, arguing that they are missing out on a powerful tool for advancing their values.

"The idea of making sure that our natural resources are valued, protected, and governed by the communities and even the non-human communities that are that this is their home. Like there's like this disconnect already that I really, I feel like we missed a huge opportunity early in our storytelling about the potential of blockchain."

He envisions a future where Web3 empowers communities to govern their resources and make decisions that reflect their values, regardless of their political affiliation.

Reimagining Food Systems and Empowering Farmers

David uses the example of farmers to illustrate how Web3 can drive positive change. He acknowledges the historical tension between environmentalists and farmers, often stemming from regulations that fail to consider the realities of working the land.

"Nobody cares more about the land than we do. Right. Our entire livelihood, both spiritually and economically, depends on our need to care for this land. But we're forced to make choices that put us on razor-thin margins, on an edge all the time."

He believes that Web3 can create more equitable and sustainable food systems by:

  • Rewarding regenerative practices: Smart contracts and blockchain technology can track and reward farmers for implementing practices that sequester carbon, improve soil health, and enhance biodiversity.
  • Increasing supply chain transparency: Blockchain-based systems can create more transparent and equitable supply chains, ensuring that farmers receive a fairer share of the profits.
  • Supporting local food economies: Web3 can empower local communities to develop their own currencies and economic systems, fostering more resilient and sustainable food systems.

The Need for Compelling Narratives in Web3

David emphasizes the importance of crafting compelling narratives to onboard the next wave of Web3 users. He argues that the current discourse, dominated by technical jargon and acronyms, fails to capture the imagination and inspire widespread adoption.

"For me, it provokes thoughts about... network cities... the bioregional lens... how do we provoke those values...of being more collaborative, recognizing our independence, bringing our whole selves, being able to be out connected to the land..."

He believes that we need to move beyond the technical aspects and focus on telling stories that resonate with people's values and aspirations. He envisions a future where Web3 is associated with personal fulfillment, ecological regeneration, and a more equitable and just society.