Hello Frens, we are back with our day 4 recap of EthDenver. And the word of the day for us was ceramic security. Bear with me and it will all make sense.
Taking a step back, just want to remind everyone of what we are building here at Fimio, a trust layer for the web starting with reifying code as a first class citizen and attaching reputation to that code be it a wallet or a smart contract. Reputation isn't based just off of one activity or one environment. Reputation is based on all the ways an entity interacts with the web. It isn't just based on a wallet activity, or interacting with smart contracts, or DAOs, it is based on a accretive understanding of all their interactions on the web. Our vision aims to do exactly that, but for now we focus on smart contracts.
Existing in the larger ecosystem of web3, and seeing the applications that are emerging in web3, one of the applications that I am most excited about still remains the DAOs. I come from a background of open-source and see DAOs as the next evolution of open-source based on decentralized voting and governance. However, to have reputation attached to identity in regard to voting in DAO, one must have an exhaustive view of all the data. And unfortunately, that data seats in Snapshot, that data seats in Discord, in Telegram, in Twitter and so on; the data seats in private servers in the cloud. This makes it harder to paint a wholistic picture and create a reputation that you can then use as a discount when it comes to voting.
We are excited about projects like Ceramic because they are building the tools to free us all from the data silo. We prioritized going to their talk at the Genesis stage in the Spork Castle. With Ceramic, we can now have composable data in web3. While sign-in with Ethereum enables you to tap into the some versions of state information via the EVM, it doesn't allow you to peak into the data state. With Ceramic, every user automatically generates their own event log, anchored into Ethereum for time stamping. With Ceramic, we get a step closer to an open and permissionless web. If you are building dApps in web3, we ask you to look into this project, so we start moving towards the decentralized future we keep talking about.
ML doesn't work without data. One of the major obstacles with having meaningful applications of ML in web3 is the lack of interoperable data. The web3 data landscape is fragmented and incompatible. Projects like Ceramic, Filecoin Virtual Machine and others are all working towards unlocking the value of data in web3. The power of web3 has gone beyond cryptocurrencies. The web that we are excited about is not necessarily a web of ownership. What we are most excited about is the mathematical verifiability of interactions in that web. And for that to occur, we need interoperable data of all the different kinds of transactions that occur in that web, from financial state, to the data state, all the way down to the states of the hardware that store all that data that makes up the web.
And speaking of storage and data, this brings us to the next talk that got us going at the Spork Castle, ZK Security. ZK has been the GPT Chat of crypto for that last few months; everyone is ZK-ing this and that all over the interwebs. We at Fimio are waiting for ZK to mature, ultimately we want ZK to be powerful enough to wrap it around large scale ML models, so we can have a completely decentralized stack from data, to algorithm, to compute. In on day 2 recap, I spoke about Bacalhau, which already does compute on data. But Bacalhau does nothing about decentralizing the algorithm itself. The holy grail would be to have a truly censorship-resistant ML pipeline. When we have done that, we will have all the benefits of web2 with the transparency and security of web3.