Juan and V theorists: on the future of decentralized social media

This article is based on a panel discussion on decentralized social media on HackFS in July. Participants included Juan Benet, Vitalik Buterin, and Balaji Srinivasan.

Juan and V theorists: on the future of decentralized social media

The idea behind decentralized social media

In the early stages of human development, humans are always looking for places where they can express their ideas. Civilizations such as ancient Greece and Rome established conference venues where knowledgeable people can discuss their views on the truth and draw conclusions and consensus.

Today’s society has adopted the same name for these conference venues in the Internet age-forum. However, with the development of the Internet, forums have also evolved into the current form of social media.

Today’s users of Twitter, Facebook, Instagram, and TikTok are just modern iterations of forum residents at the beginning of the 21st century. They carefully research topics and add comments on topics they wish to comment on.

However, with this increase in usage, a huge and faint shadow of corporate supervision also follows. How does the Internet take back forums from large corporate oligarchs? The answer is to start with decentralized social media.

Necessity of establishing a place for free discussion

The reason why ancient societies like the Greeks and Romans were able to pass on their classical knowledge was because the knowledge was brought together through discussion. Philosophers discuss in forums, and this information is filtered to other parts of society. Without this freedom of discussion, the censorship of thoughts will cause considerable problems in people’s perception of the surrounding reality.

The urgent need for decentralized social media is based on the idea that if people work together, they will live better. Current media organizations prefer to separate people; conflict drives click-through rates, and click-through rates drive revenue.

Eliminate the basis of modern media

Most of modern media exists as a means. Social media is a perfect example. Companies like TikTok and YouTube allow content creators to create their own work and upload it to the website.

Behind these “good” content are advertisements and algorithms for potential buyers. The result of the system is that influencers only earn a small portion of the company’s advertising revenue, even though they are 100% responsible for the content.

Learning from today’s Web2, the community that builds Web3 social media sites should focus on the influencers themselves. There are two reasons behind this:

First, influencers control many eyes, and by guiding them to switch platforms, it is likely that a large number of people who follow influencers will leave. This reality raises the second reason that influencers are driving the adoption of decentralized social media—they are people. Most celebrities who use social media do not actually post on the platform, but instead have a social media manager or a company hired to manage their tweets or posts.

Small influencers usually don’t have the money to hire someone to manage their accounts and do it themselves, so they may get involved in discussions about what they can get from these social media platforms. However, while influential people may be interested in forums themselves, the companies and media organizations that manage them will not.

Changes in reward standards

So, how will people be rewarded in such a social media system? For social media to have any positive impact, these actions need to be rewarded. One of the ways this can happen is through retroactive public funds. In this funding model, there is a retrospective effect on the creation of certificates.

The impact certificate indicates that a specific individual is responsible for a specific increase or change in the network. For example, one person creates a particularly popular template format. Based on the extensive use of this template, creators may be rewarded for it. Their contribution to the network will be recognized by creating an award.

These awards are not created in advance, as the goal of hard work, because they will shape the network, rather than reward those who shape the network by their own ability. There is a reason why this reward system is inconsistent with the reward system currently used on social media.

Currently, social media seeks to divide and exploit polarization. This new and improved model looks forward to rewarding individuals for helping the platform and users. This is an accurate distribution of wealth based on value, based on one person’s contribution to the development and dissemination of the entire network.

Change the value of truth

Blockchain is unique. They connect a physical problem with an abstract concept. Therefore, a mathematical equation that needs to be solved is transformed into a token that can be consumed. This “value of truth” system is based on consensus.

In the blockchain network, unless the people on the chain agree with it, you cannot have something that is considered truth. It is not feasible to tamper with the “truth” so that it can be misinterpreted in some way, because the truth is linked to the consensus on the blockchain. Taking a step back, in the past two years, social media has shown how multiple versions of the truth coexist, but none of them may reflect reality.

A decentralized social media platform will aim to connect truth with consensus. The best way to implement this system is to associate social media with the undeniable truth. This concept is difficult to realize. As things change, when we learn more about something, the truth must also develop. However, having a real connection with truth can help define its value in the social media society.

The value of truth in the social media chain depends on the community’s evaluation of it. However, this introduces another problem-the problem of homogeneous groups.

Groups and fragmentation

Social media usually supports groups because they are a useful function for maintaining a directory of friends and contacts. Sometimes groups form the basis of an entire social media site, such as Reddit.

In an encryption-first social media system, groups will be encrypted and adjusted and targeted. Instead of focusing on ideological ideas like the current social media, we will have some groups that are geared towards changing people’s understanding of different aspects. Naturally, there will be polarization, but this polarization may be based on something more specific, not just based on someone’s political ideology as it is now. The way to overcome this polarization is the recognition of expertise.

Some groups will reach a consensus on what is truth, and other groups will listen to their opinions because they are experts. People don’t worry too much about whether someone is doing or saying something for money.

This kind of setting can lead to division, but division is not always a bad thing. Fragments of a group dedicated to a specific goal may counter mainstream wisdom and be considered justified. The default “cyber war” in the world will be changed to something more similar to a long-form debate.

To make fragmentation a good thing, the fragments themselves must create value. In a group, a segment may study other ways to achieve these goals. Fragmentation may lead to more diversification of ideas-completely opposite to what social media is currently trying to achieve.

Look to the future

How far are we from decentralized social media? Although it may take some time to see a real decentralized social media in the ecosystem, it may make the use of the new framework different and bring more acceptance among non-professionals.



Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/juan-and-v-theorists-on-the-future-of-decentralized-social-media/
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