‘Dodgy Cryptocurrencies and Silly NFTs’ Have Spoiled Blockchain’s Narrative
Billionaire actual property developer Frank McCourt took intention at ” dodgy cryptocurrencies and foolish NFTs” for spoiling the narrative round blockchain.
Talking at Internet Summit 2023, McCourt famous that his personal undertaking, open web protocol DSNP, was not tokenized. “Dodgy cryptocurrencies and foolish NFTs should not the identical as core expertise that may really assist make the web higher for us,” he stated, including that “the narrative has been spoiled considerably.”
Blockchain has the potential to “repair the web,” he stated. “And by repair, I imply identification, provenance, verifiable attributes, attestation. These are the issues really the blockchain does extraordinarily properly: immutable reality, non-corruptible data.”
DSNP, or Decentralized Social Community Protocol, employs Frequency, a layer-1 parachain on Polkadot, for the “foundational implementation of the social graph and public message routing”—although it takes pains to notice that its social graph is “not linked to any monetary incentives by crypto tokens or personal firm database servers.”
McCourt and Mission Liberty
McCourt, who in 2022 stepped down as CEO of actual property agency McCourt World to concentrate on his non-profit Mission Liberty, took to the stage at Internet Summit to unveil a manifesto for a “higher internet.”
The Web in its present state is damaged, inequitable, and harmful. A brand new and higher internet is being constructed. Will you be part of it? Learn our manifesto: https://t.co/rl07wa9Tml pic.twitter.com/IlJTAqv8F0
— Mission Liberty Motion Community (@PLactionnetwork) November 14, 2023
Within the manifesto, McCourt argued that large tech and social media platforms have performed “profound harm” to society, making a “techno-capital engine, incentivized to stalk, manipulate, and prey upon individuals.” He added that AI may act as a “highly effective accelerant” for these damaging developments, calling for web customers to “ownyourdata and take again your digital rights.”
“Mission Liberty is pro-technology,” McCourt stated on-stage. “However it’s not pro-autocratic, centralized surveillance expertise.”
He added that DSNP has already migrated over 170,000 customers of Web2 social media platform MeWe to its protocol, and expects the quantity to hit 300,000 by the tip of the 12 months, and over 1,000,000 by the tip of Q1 2024.
McCourt argued that, “Relatively than us clicking on the Phrases of Use set by 5 large large platforms, what if the brand new apps are clicking on our Phrases of Use, for the way our information will get used?”
