Dfinity founder Dominic Williams believes content material creation platforms like OnlyFans are ripe for disruption now that decentralized applied sciences have turn out to be mainstream. He’s inviting builders to construct a blockchain-driven content material platform on Web Laptop (ICP) — a robust general-purpose blockchain launched by Dfiniity Basis earlier this 12 months.
In an interview with Cointelegraph, Williams mentioned current makes an attempt by monetary establishments to censor grownup content material creation on OnlyFans, in addition to the overall outlook on sensible contract platforms.
Creator-driven platforms are perfect for decentralization
In August of this 12 months, main monetary establishments similar to Financial institution of New York Mellon, Metro Financial institution and JPMorgan Chase successfully pressured OnlyFans to ban sexually specific content material on its platform. CEO Tim Stokely informed the Monetary Occasions that his firm, which has turn out to be synonymous with grownup content material creation, “had no choice” but to heed to the banks’ demands. (The banks reportedly threatened to chop ties with OnlyFans due to the reputational harm of servicing an grownup content material platform.)
Whereas Stokely would ultimately reverse the choice to ban specific content material after receiving assurances from banking companions, the entire ordeal sparked a public debate about censorship. Dominic Williams stated OnlyFans represents a case examine on why content material creation platforms want decentralization.
The specter of censorship, Williams stated, isn’t simply from bank card firms however conventional IT providers as properly:
“[OnlyFans] may be censored by any of the standard IT providers it makes use of to run its on-line providers, similar to cloud providers and knowledge facilities, in the identical manner Amazon Net Providers switched off the Parler social media service.”
Decentralization by way of blockchain expertise can repair this downside:
“One of many key methods blockchains can add worth is by operating sensible contract code that can not be stopped, offering a method to create techniques which can be extra immune to censorship by third events.”
Nonetheless, not each blockchain can present true censorship resistance as a result of decentralized functions nonetheless depend on conventional IT to perform. “It’s because they can not scale to retailer giant quantities of person content material themselves, and can’t serve interactive internet content material on to customers, and due to this fact builders should incorporate cloud or personal servers into their Dapps,” he stated.
Dfinity’s grants program is eager to listen to recent concepts
Williams is actively encouraging builders to create a extra decentralized model of OnlyFans on Web Laptop. Actually, he touted the Dfinity Basis’s $250 million grants program as place to begin to bootstrap such concepts. The grants program, which is totally meritocratic and designed to assist groups construct on Web Laptop, has funded over 80 initiatives already.
Preliminary funding is small however may be scaled up as soon as the initiatives show progress, Williams stated. The early outcomes have been promising.
“As we speak, individuals have constructed issues like chat, skilled networks and video games which can be operating totally from the Web Laptop blockchain,” he stated. “It’s solely been 4 months since Genesis and there are already greater than 500 builders constructing. Providers like Open Chat are quickly rising, and have already got many tens of hundreds of customers. Actually, over 1.2 million Web Identification handles have already been created.”
Web Laptop received’t make Ethereum out of date
The hunt to uncover the following “Ethereum killer” has led some buyers to take a position whether or not Web Laptop will take the mantle from the preeminent sensible contract platform. Nonetheless, simply as Ethereum didn’t render Bitcoin (BTC) out of date, ICP is unlikely to squash Ethereum in the long term, Williams admitted. However different competing sensible contract platforms are unlikely to stay round in the long term.
“What’s essential to notice is that Ethereum didn’t make Bitcoin out of date,” he defined. “For related causes, the Web Laptop is unlikely to make Ethereum out of date. Nonetheless, arguably the identical can’t be stated for the so-called “Eth-Killer” blockchains, as their contribution of innovation and authenticity lacks substance.”
Williams expects Ethereum to combine with Web Laptop and turn out to be a supply of innovation for Ether-based builders.
The Web Laptop blockchain presently ranks twenty third by way of market capitalization, with the overall worth of ICP crypto hovering simply above $8.4 billion. By comparability, Ether’s (ETH) market cap is presently $424.8 billion.