Billionaire actual property developer Frank McCourt took goal at ” dodgy cryptocurrencies and foolish NFTs” for spoiling the narrative round blockchain.
Talking at Net Summit 2023, McCourt famous that his personal undertaking, open web protocol DSNP, was not tokenized. “Dodgy cryptocurrencies and foolish NFTs aren’t the identical as core know-how that may really assist make the web higher for us,” he mentioned, including that “the narrative has been spoiled considerably.”
Blockchain has the potential to “repair the web,” he mentioned. “And by repair, I imply identification, provenance, verifiable attributes, attestation. These are the issues really the blockchain does extraordinarily properly: immutable reality, non-corruptible info.”
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 non-public firm database servers.”
McCourt and Challenge Liberty
McCourt, who in 2022 stepped down as CEO of actual property agency McCourt World to give attention to his non-profit Challenge Liberty, took to the stage at Net 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
— Challenge Liberty Motion Community (@PLactionnetwork) November 14, 2023
Within the manifesto, McCourt argued that massive tech and social media platforms have accomplished “profound injury” to society, making a “techno-capital engine, incentivized to stalk, manipulate, and prey upon folks.” He added that AI may act as a “highly effective accelerant” for these unfavorable traits, calling for web customers to “ownyourdata and take again your digital rights.”
“Challenge Liberty is pro-technology,” McCourt mentioned on-stage. “However it’s not pro-autocratic, centralized surveillance know-how.”
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 top of the yr, and over one million by the top of Q1 2024.
McCourt argued that, “Slightly than us clicking on the Phrases of Use set by 5 massive large platforms, what if the brand new apps are clicking on our Phrases of Use, for the way our knowledge will get used?”
