Joonatan Lintala, the Co-Founder and CEO of Phaver, acknowledges that the slow technological advancement of Web3 social media has contributed to potential users’ hesitance to engage with these platforms. He went on to note that current Web3 protocols are not yet adequately scaled to support millions of users.
The Potential of Web3 Social Media
Lintala informed CryptokenTop.com News that there is a concerted effort among multiple Web3 companies to foster the adoption of blockchain-based social media platforms. He concurs with proponents who believe Web3 social media has the potential to address the pitfalls commonly associated with Web2 platforms. Lintala is particularly optimistic about the “user-controlled interoperable profiles,” stating that this feature ensures that users’ data won’t be manipulated or used without their explicit consent.
In a written dialogue via Telegram, Lintala forecasted that the future of social media will be dictated by platforms that both respect users as stakeholders and prioritize their privacy. He warned that any failure to synchronize a platform’s objectives with these user priorities could lead to diminishing user numbers and consequently, revenue loss.
Phaver CEO Weighs in on Recent Reddit Controversy
Lintala also commented on the recent tumultuous events on Reddit, arguing that a decentralized version of the platform would have precluded such a situation. Below is a summary of his responses to the questions posed:
CryptokenTop.com News: Sriram Krishnan’s Statements on Web3
When asked about Sriram Krishnan’s assertions during the Ethereum Community Conference, Lintala agreed, stating that the advent of user-controlled interoperable profiles will diminish any entity’s capability to wield undue power over users’ social interactions and even political discourse. He emphasized the importance of ethical moderation and fair compensation for content creators.
User Concerns on Web2 Platforms
Lintala observed that many of the challenges users face on Web2 platforms, such as unwarranted bans or privacy issues, become apparent when people find themselves barred without recourse. He cited his grandmother’s experience of being expelled from Facebook as an illustrative example.
The Reddit Incident: A Case Study
Lintala critiqued Reddit’s decision to terminate the fan-favorite app, Apollo, stating that if Reddit were built on Web3 protocols, such an event would have been unlikely. He argued that Web3 platforms would be held accountable by their user base, thus discouraging authoritarian tactics.
Aligning User and Platform Interests
On the topic of how advertising-focused platforms can align their interests with those of their users, Lintala emphasized the necessity of treating users as stakeholders. He suggested a model wherein users could choose their advertising experience, ranging from an ad-free service at a premium to ethical targeting options.
Off-chain Posting: Pros and Cons
When queried about Phaver’s use of off-chain posting, Lintala explained that the move is a pragmatic one, meant to bridge the current technological gap, offering a transition from Web2 to Web3 platforms as the latter matures in scalability and user experience.
Ethical Concerns in Social Media
Lintala dispelled the notion that Web3 platforms would inherently solve issues related to content that triggers emotional reactions, such as outrage or envy. However, he argued that the decentralized nature of Web3 offers a diversified landscape where ethical alternatives can thrive.
Assuring Ethical Conduct on Phaver
Finally, Lintala assured that Phaver is committed to high ethical standards, supported by audited smart contracts and decentralized data handling practices. He said the ultimate safeguard is the competitive environment where platforms must continually strive for user satisfaction to succeed.
What Holds Users Back from Web3?
Lintala believes that the primary deterrent for prospective Web3 users is technological readiness, but remains optimistic that collaborative efforts within the industry will soon overcome this barrier.
Lessons from Web2 Platforms
Lintala advised that Web3 platforms should pay attention to the concerns raised about data privacy on Web2 platforms. He suggested that decentralized data management in Web3 will demand platforms to be more cautious and transparent in their data-handling protocols.
Frequently Asked Questions (FAQs) about Web3 Social Media
What is the main focus of Phaver CEO Joonatan Lintala’s interview?
Joonatan Lintala emphasizes that Web3 social media platforms offer user-controlled interoperable profiles, which means users’ data will not be monopolized by a few entities. These platforms also allow users to be treated as stakeholders rather than just data sources, valuing their privacy and preferences.
How does Lintala view the challenges to mainstream adoption of Web3 platforms?
What are Phaver’s safeguards to maintain high ethical standards?
What is Lintala’s perspective on the ethics of data usage in Web2 vs Web3 platforms?
According to Lintala, Web3 platforms have the advantage of making baseline data public by default, which can be both an advantage and a concern. However, he believes that the decentralized nature of Web3 platforms makes them more accountable in terms of data privacy and ethical conduct.
How does Phaver aim to combine advertising and user experience?
Phaver plans to offer a model where users can choose between different experiences: they can pay to avoid ads, see ethically targeted ads for a free experience, or even get subsidized for helping in more accurate targeting. This approach aims to align the platform’s interests with those of the users.
What was Lintala’s take on the recent Reddit fiasco?
Lintala believes that if Reddit had been built on Web3 protocols, the recent fiasco involving the shutdown of the Apollo app could have been avoided. In a decentralized Web3 environment, strong-arming users would lead to a rapid decline in user engagement and the platform would quickly become a ghost town.
More about Web3 Social Media
- Phaver’s Official Website
- Web3 Foundation
- Interview with Joonatan Lintala
- What is Web3? An Introduction
- Recent Reddit Apollo App Fiasco
- Lens Protocol
- Ethical Considerations in Web3
- Challenges to Mainstream Adoption of Web3 Platforms
- Data Privacy in Web2 vs Web3
- Web3 Scalability Issues