2.2 The Essence of "Bit Civilization"

We believe that the concept of Decentralized Society should be further expanded and elevated. Web3 represents not only a decentralized society but also a thriving decentralized civilization. Web3 will be an advanced civilization built on the foundations of mathematics and algorithms, symbolizing the liberation and freedom of humanity. We refer to it as "Decentralized Civilization" or "DeCiv" for short. Additionally, because this civilization originated from the creation and development of Bitcoin, we also term it "Bit Civilization". This concept was initially proposed by Mr. Kunyuan, the chairman of the RainbowCity Foundation, in July 2021 on the Satoshi Nakamoto Bitcointalk Forum.

"Bit Civilization" will distinguish itself from the existing civilization systems in human society as a more advanced civilization built upon the cornerstone of blockchain technology. In the "Bit Civilization", all of humanity's assets such as currency, stocks, warrants, real estate, all forms of information such as business data, transaction data, learning data, life data, and all human actions including commercial activities, birth and death, communication, can be recorded as data on different blockchains. These records can be represented in the form of various tokens, facilitating value division and circulation. This creates a new identity verification system and value transfer system.

All human actions can be recorded as data on the blockchain and exchanged and transmitted through code, algorithms, rules, and contracts. This is what we believe to be the essence of "Bit Civilization" and an extension and upgrade of the concept of "Decentralized Society".