In an interview with Bitcoin.com News, Joonatan Lintala, the CEO of Phaver, a platform bridging users to Web3 social networks, discussed the potential of Web3 social media platforms and the challenges faced by Web2 platforms. Lintala believes that Web3 social media platforms have the advantage of being based on user-controlled interoperable profiles, which ensures that users have control over their data and privacy. He also states that Web3 social media platforms can address some of the problems seen in Web2 platforms.
Challenges of Web2 Social Platforms
Lintala highlights some of the challenges faced by users of Web2 social platforms. These challenges include the lack of control over one’s data and the risk of being banned from the platform, resulting in the loss of memories and relationships. He also mentions the issue of invasive targeting data used by these platforms for advertising purposes.
The Reddit Fiasco and the Importance of Fairness
Lintala discusses the recent Reddit fiasco, in which the platform angered moderators and users by shutting down a popular community app. He suggests that if Reddit had been built on Web3 rails, the incident could have been avoided. He emphasizes the importance of treating users as stakeholders and ensuring fairness and transparency on social media platforms.
Aligning Platform Interests with User Interests
Lintala explains that for a social media platform to be fair and transparent, it needs to align its interests with those of the users. He acknowledges that advertising revenue plays a role in monetization but suggests that users should have options to choose the type of platform that suits their preferences, whether it’s ad-free, targeted ads, or a paid subscription model. He also emphasizes the importance of fair compensation for creators and a fair in-app economy.
Proprietary Off-Chain Posting
Phaver uses proprietary off-chain posting for flexibility and ease of use. Lintala explains that this approach allows for a user-friendly experience while gradually moving towards on-chain social media. He acknowledges that fully on-chain social media is not yet ready for mainstream adoption but believes that it will eventually become the norm.
Web3 Social Media Platforms and the Seven Deadly Sins
Lintala discusses the idea that each social media platform taps into one of the seven deadly sins, such as outrage or envy. He believes that Web3 social media platforms may offer more options and alternatives, allowing users to access content through different apps that make their own choices regarding algorithms, moderation, and content indexing.
Maintaining Ethical Standards on Web3 Platforms
Lintala acknowledges the concerns about Web3 platforms potentially misusing their power, similar to Web2 platforms. He argues that on Blockchain-powered social networks like Phaver, ethical standards can be assured through publicly audited smart contracts and by dividing algorithms and monetization among multiple entrants. He also emphasizes Phaver’s commitment to net positive impact as its core value.
In conclusion, Lintala highlights the potential of Web3 social media platforms to address the challenges faced by Web2 platforms and the importance of user control, fairness, and transparency. He believes that Web3 platforms can offer alternatives and options that prioritize user interests and maintain high ethical standards..
#Web3 #Social #Media #Bring #Power #Users #Phaver #CEO #Joonatan #Lintala
Challenges of Web2 Social Platforms
Lintala highlights some of the challenges faced by users of Web2 social platforms. These challenges include the lack of control over one’s data and the risk of being banned from the platform, resulting in the loss of memories and relationships. He also mentions the issue of invasive targeting data used by these platforms for advertising purposes.
The Reddit Fiasco and the Importance of Fairness
Lintala discusses the recent Reddit fiasco, in which the platform angered moderators and users by shutting down a popular community app. He suggests that if Reddit had been built on Web3 rails, the incident could have been avoided. He emphasizes the importance of treating users as stakeholders and ensuring fairness and transparency on social media platforms.
Aligning Platform Interests with User Interests
Lintala explains that for a social media platform to be fair and transparent, it needs to align its interests with those of the users. He acknowledges that advertising revenue plays a role in monetization but suggests that users should have options to choose the type of platform that suits their preferences, whether it’s ad-free, targeted ads, or a paid subscription model. He also emphasizes the importance of fair compensation for creators and a fair in-app economy.
Proprietary Off-Chain Posting
Phaver uses proprietary off-chain posting for flexibility and ease of use. Lintala explains that this approach allows for a user-friendly experience while gradually moving towards on-chain social media. He acknowledges that fully on-chain social media is not yet ready for mainstream adoption but believes that it will eventually become the norm.
Web3 Social Media Platforms and the Seven Deadly Sins
Lintala discusses the idea that each social media platform taps into one of the seven deadly sins, such as outrage or envy. He believes that Web3 social media platforms may offer more options and alternatives, allowing users to access content through different apps that make their own choices regarding algorithms, moderation, and content indexing.
Maintaining Ethical Standards on Web3 Platforms
Lintala acknowledges the concerns about Web3 platforms potentially misusing their power, similar to Web2 platforms. He argues that on Blockchain-powered social networks like Phaver, ethical standards can be assured through publicly audited smart contracts and by dividing algorithms and monetization among multiple entrants. He also emphasizes Phaver’s commitment to net positive impact as its core value.
In conclusion, Lintala highlights the potential of Web3 social media platforms to address the challenges faced by Web2 platforms and the importance of user control, fairness, and transparency. He believes that Web3 platforms can offer alternatives and options that prioritize user interests and maintain high ethical standards..
#Web3 #Social #Media #Bring #Power #Users #Phaver #CEO #Joonatan #Lintala
