Billionaire actual property developer Frank McCourt took goal at ” dodgy cryptocurrencies and foolish NFTs” for spoiling the narrative round blockchain.
Talking at Internet Summit 2023, McCourt famous that his personal mission, open web protocol DSNP, was not tokenized. “Dodgy cryptocurrencies and foolish NFTs will not be the identical as core expertise 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 id, provenance, verifiable attributes, attestation. These are the issues really the blockchain does extraordinarily effectively: immutable truth, 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 non-public firm database servers.”
McCourt and Mission Liberty
McCourt, who in 2022 stepped down as CEO of actual property agency McCourt International to deal with his non-profit Mission Liberty, took to the stage at Internet Summit to unveil a manifesto for a “higher net.”
Within the manifesto, McCourt argued that large 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 destructive traits, calling for web customers to “personal your knowledge and take again your digital rights.”
“Mission Liberty is pro-technology,” McCourt mentioned on-stage. “But it surely’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 top of the 12 months, and over 1,000,000 by the top of Q1 2024.
McCourt argued that, “Moderately 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 a way our knowledge will get used?”
