Darren Mayberry, Ecosystem lead of dappOS@dappOS_com
Daksh, CPO of MarkerDAO@MarkerDAO_
Alex, Co-founder of Oi! Network@OiNetwork_xyz
Olivier, Builder of PermaDAO@perma_dao
Michelle, COO of MAP Protocol@MapProtocol
Anita, Global Market Manager of KNN3@knn3network
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First of all, the social user would capture 80% or more of the revenue of their own post. No more the platforms and youtube getting most of the money. The monies would have to go to the users, the people who produce the content. You post something, you get paid.
Algorithms won't dictate or control what you see. If there's gonna be algorithms, they're gonna be at your fingertips, they're gonna be assisting you. It shouldn't be this black box that's telling you what you see. No centralized censorship, only individual screen or clustered moderation. Obviously, it needs to be decentralized.
And finally, it should allow for either federation or permissionless access. Federation, of course, is a kind of structure. if we're going to be on the blockchain, permissionless access is probably the default.
It's far too early to evaluate the impact of Web 3 social. I hope to see cryptos, ethos and values drift in new tech ventures that nonetheless choose not to employ cryptocurrency.
I think that will focus a lot on the social media part of it. According to me, web3 social is better because the dapps can facilitate payments flawlessly. web3 enables easy organization development. In most of the cases, data labeling doesn't require high-quality industry skill sets. But since international payments have always been an issue, our web2 counterparts have always struggled in creating a large international workforce of data liberals against the AI industry. But since we leverage web3, we are able to offer the AI industry a core across-border workforce of data laborers, the magnitude of which they have not seen before.
I want to focus on how web3 social is better for society. Web3 social is better than web2 social in terms of being unstoppable.
When you go for a web3 social, I think the first thing that comes to mind is, what is Web3 actually, right? And Web3, for many people, is mostly about decentralization. So if you are a part of the business, you invested in it, and you can vote on But what is the algorithm? Then it comes to data ownership as well. That you own your data, and you know that it is not used against your will. But also, it's not just the usage of the data, but actually the monetization of it. Here's where we come in, and that's what we're trying to create, the possibility for users to monetize their own skills or influence or data, e.g. on Twitter, if you have a certain amount of followers, if you have a certain amount of influence, if you've done your work and you have something that is of value, we allow you to earn based on that.
Also, I think the other big concept of Web3 social is that it's also metaverse. It's the way that users and people interact, the way that they are in seeing the advertisements. It's the way they live, the way they work.
There are so many different aspects and perspectives that we can discuss this topic, and it's really difficult to say which one is better. But if I have to give a conclusion right now, I will say web2 social is better overall, in terms of the user experiences, of the economies that have already procreated. And web3 social is just getting started . It's like a baby just got born. How can we directly compare a baby with someone who already made a fortune and be our start? I don't really think the web2 social is broken or no longer useful. I just think it has a huge room to be proved, especially with the blockchain, or web3 technology.
Although nowadays, there are billions of people who post on Facebook, on Twitter about their lives. Web3 social has no way to compare directly with web2 social, especially with this kind of coverage and speed and everything that we have,and the user experiences.
In terms of data sovereignty, web3 social can solve those problems that Web2 cannot do. But right now, there's definitely a long way to go.
I do think that Web3 is at least promising to do this, and I'm hopeful that it will deliver. There are projects that are trying to deal with data collection in a fair way. Ocean protocol comes to mind. It claims that it's going to pay for data that users consent to give over to it and that it will nonetheless also protect the users from identifying, and from distributing identifying information. And there's all kinds of zero knowledge projects out there that are hoping to do KYC, and only reveal what needs to be revealed.
So here at dappOS, we're about building a proper user experience and accessible user interface. Right now, we're focusing on DeFi, partnering with a number of decentralized exchanges. Decentralized finance gives power to those to control and manage their own assets. Intermediaries from commercial and investment banks, stockbrokers, and pulled investment funds have sat at the commanding heights of our financial system for many years now, being subprime mortgages or reverse redlining. And the fees that are collected to the extent that there are fees at all, go to the operation of a permissions chain, or the gaps that have built off of them, and the revenue goes back to the users themselves.I think there's a real need to DeFi the there's as the history of peer-to-peer lending shows. Does DeFies solve all the problems of TradFi? No, it doesn't. But it's performed more than just a leap and bounds from where the West was 15 years ago. I think we're doing a lot better by having DeFi as an alternative.
Our project has pilot programs with centralized exchanges, such as perpetual protocol and optimism. We're building towards a central app. It'll be non custodial, like any other on your phone, that will have portals to various defy projects and seamlessly integrate your wallet. So it's about user experience, and DAPOS is working towards having the honor of leading that way.
In terms of assets, it has already been proven. Fungible talk much, and non-fungible, tokens, it's already doing their thing. Web3 can largely assist with the assets and identity, but I'm not sure if I agree with the data, because there are a lot of people in the industry saying that web3 will bring the people's data back to their position and help and whatever. But even if people own their data, I think there will always be ways by which people will source other people's parties and then manipulate that public data for their own benefit. So that will always happen. Right now it's being done. Once all of it is based on web3 and DeFi, there will be a world where people will violate other people's online rights in terms of their data. We always need to have some sort of centralized organization or centralized committee that determines, or an offline community that determines whose patent this is, and then this has a complete effect on things, then it's wealthy. Data manipulation is always going to happen.
Our goal is to facilitate air companies by providing them with a workforce ready to label and structure their data for their AI application. But because we are leveraging web3, there are ways we create an effect in the world to make it decentralized. We are connecting this multibillion-dollar industry with the AI industry. The market of the workforce are people who can join the market out to do data labeling, micro tasks for AI companies, and own economic compensation. What we are working on is how to verify the data, and how to make data to be credential. This is some kind of return ownership, but how to define the ownership and how to maximize the value of the data. This is what we are doing right now.
I break down this question into a few sub questions:
So the types of projects, one type is where they try to give you back all the data that they have so that you control. I think that's an interesting concept, although it's a bit far from now, and the kind of closer to that is, where it's a case-specific ownership of data. That's kind of what we are creating for Twitter, specifically, where when you have a specific number of followers, likes, comments, and history of accounts, you have a certain value of your accounts so that you can monetize it in Web3, or a Web2 social way. The most common and the greatest technology for that is the NFT, where you have a traceable on-chain way to store your data. I think at some point we will have digital ids in different countries where you have your identity linked to something like that. When we talk about data, data is equal to the word value.
In the Web2 world, social companies are valued based on how much they're earning from data and how much data they have. I am quite sure that Web2 will be very hesitant to try to give back to you the ownership of your data. they allow you some specific limitations, like with the Apple privacy settings now, where you can say that I don't want you to track my activity across other apps as well.
The full ownership of your data is somewhat either of a distant future or a big fantasy.
I actually agree with Alex about it not gonna happen. I don't think we have to. In the beginning, traditional corporations have a strong resistance to the Internet, and new technologies, and later on, you see them embracing Twitter, youtube. And they are also, like, trying to involve us in gradually embracing this technology, which benefits themselves, in a way.
But actually, I think We3 is helping, doing, helping especially, encouraging developers around the globe to rebuild something new. that kind of data assets and density, generate purely from what they were from the blockchain space and the ownership of those are going back, and recontribute, recirculate into the web economy. For us, e.g. MAP protocol, although we are really technical, I'll see it as a very technical team. We have around 20-something members, and 95% of them are developers. What we have been trying to do for the past years is to give back the ownership of the assets and data, especially when people are doing transactions. Right now, there are lots of differences. There's a role using a kind of difference if they're using release oracles. I'll describe it as a semi-centralized structure. For the famous bridges, the multi trains, or excellent or um, a warm hole, they're all using a central as a way. When people are doing cross-chain transactions, their ownership of the assets actually falls into the hands of a small group of violators or super administrators. The industry has seen too many incidents happen on that kind of designed bridge, and that's why MAP Team, we are trying to get back the ownership of those crossing access and data back to the users, which are from even from day one. We are 100% focused on decentralization and permissionless and trustless, although this creates so many different types of obstacles for us in the past years, but feels like, um, there is a silver lining there.
KNN3 Network is a one-stop Web3 User-centric DataFi solution for d/Apps and smart contracts. KNN3 allows d/Apps & smart contracts to interact with cross-platform user-centric data in multiple algo-friendly ways.