In this episode of Governance Futures, hosts Jamilya and Eugene speak with Puja Ohlhaver about her latest paper on community currencies and the PCARE model. She explains how her work builds on earlier frameworks, critiques one-token-one-vote models, and offers new approaches for balancing money, votes, attention, and influence. Puja Ohlhaver is a lawyer, technologist, and innovator focused on renovating democracy to resist authoritarian drift in the age of AI. As a member of Harvard’s GETTING-Plurality Research Group at the Allen Lab for Democracy Renovation, her work bridges law, economics, and computation to build pluralistic governance that empowers communities to rapidly scale cooperation across networks without succumbing to surveillance. Her most recent work explores how community currencies can rebalance attention and influence to amplify collective voices within frontier AI models, while hardening systems against both capture and overreach. Ohlhaver co-authored Decentralized Society: Finding Web3’s Soul with Glen Weyl and Vitalik Buterin. Her commentary has appeared in The New York Times, Washington Post, Politico, WIRED, and Time Magazine. The conversation dives into the economic and political theory behind PCARE, its potential role in reconciling financial and non-financial commitments, and how subsidiarity and plurality can foster healthier governance systems. Puja also shares perspectives on the role of AI, digital reputation, and why legitimacy must be rooted in local communities while still enabling global cooperation. The episode closes with her vision for the future of governance in one word: plurality. Some of the materials we mention in the episode: - Ohlhaver, Puja and Nikulin, Mikhail and Berman, Paula, Compressed to 0: The Silent Strings of Proof of Personhood (March 6, 2024). Available at SSRN: https://ssrn.com/abstract=4749892 or http://dx.doi.org/10.2139/ssrn.4749892 - Ohlhaver, P. (2024, October 1). Common Knowledge Machines: From Community Notes to Community Posts. Substack. https://pujaohlhaver.substack.com/p/common-knowledge-machines - Ohlhaver, Puja, Community Currencies: The Price Of Attention And Cost Of Influence In A Networked Age -or-The Price Of Entry And Cost Of Exit In A Networked Age (January 02, 2025). Available at SSRN: https://ssrn.com/abstract=5136037 or http://dx.doi.org/10.2139/ssrn.5136037 - Ohlhaver, P. [deep dives w/thefett]. (2024, September 30). Community currencies and PCARE with Puja Ohlhaver [Video]. YouTube. https://www.youtube.com/watch?v=Rpt8PBWgdRw - Ohlhaver, P. (2024, October 15). Why community currencies are crucial for governance in DeSoc (Ep. 588) [Video]. YouTube. https://www.youtube.com/watch?v=zRnYj_4GQHs  Timestamps00:00 – Teaser/Preview 01:11 – Introduction and hosts’ reflections on Puja’s paper04:46 – Puja’s personal, political, and economic motivations for community work09:09 – AI, crypto, and decentralization beyond state power11:31 – Community posts, discourse, and polarization online18:04 – From Soulbound Tokens to community currencies: evolution of ideas25:52 – Incentive alignment, liquefaction, and empty voting critiques30:08 – Attention, influence, and the theory of power in networks34:27 – Pareto’s law and the dangers of one-token-one-vote40:21 – How PCARE introduces trade-offs between money and voting44:37 – Why irrevocable stake matters for influence48:55 – Subsidiarity, plurality, and justice in community currency design53:05 – Community-based income and social recombination57:22 – Enforcement, bribery, coercion, and community governance01:01:10 – AI, neural networks, and identity as a networked self01:06:30 – Reputation, relational context, and bridging communities01:12:14 – Global vs. local currencies and legitimacy in communities01:17:18 – Locality, legitimacy, and reorienting away from anti-social media01:21:09 – Future experiments: civil society, social media, and music communities01:25:12 – Where community currencies could start in