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.

What are your insights on this interview? Feel free to share your thoughts in the comments section below.

Frequently Asked Questions (FAQs) about Web3 Social Media

What is the main focus of Phaver CEO Joonatan Lintala’s interview?

The main focus of the interview with Joonatan Lintala, CEO of Phaver, is the future and challenges of Web3 social media platforms. He discusses how Web3 platforms have the potential to solve issues related to data control and privacy that are prevalent in current Web2 platforms.

What advantages of Web3 social media platforms does Lintala highlight?

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?

Lintala acknowledges that the limited technological progress and the inability of current Web3 protocols to support multi-million user levels are significant barriers to mainstream adoption. However, he is optimistic that ongoing work by various Web3 companies will resolve these issues.

What are Phaver’s safeguards to maintain high ethical standards?

Phaver aims to adopt a “net positive impact” approach, and it is integrating Lens protocol to give control back to users. The focus is on building a social media environment that is for the people and not just for monetizing them, thus setting 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.

What does Lintala believe is holding back prospective users from trying Web3 social media?

The primary impediment, according to Lintala, is the current technological limitations of Web3 protocols, which are not yet scalable enough to support large user bases. He is, however, optimistic that ongoing technological advancements will resolve this issue.

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10 comments

JohnSmith72 September 5, 2023 - 10:46 pm

I gotta say, Phaver seems to be onto something here. The idea of users actually having control over their data? Groundbreaking.

Reply
MikeTheCoder September 6, 2023 - 12:44 am

Scalability is the big question for me. We already have Ethereum struggling to handle traffic. What’s Phaver’s plan for that?

Reply
Rick_TheSkeptic September 6, 2023 - 5:15 am

Web3, Shmeb3. Heard it all before. How long before they too sell out and start exploitin’ user data? Skeptical.

Reply
Frankie_Finance September 6, 2023 - 8:13 am

curious how Phaver will generate revenue. Are they going to have an ICO or something?

Reply
Caroline_Investor September 6, 2023 - 9:17 am

Im impressed by Lintala’s vision for social media. especially the idea of ethical ads. hope this isnt just a marketing gimmick.

Reply
Annie_Humanist September 6, 2023 - 12:35 pm

Lintala says it right. Social media should be built for the people. not for mining data off them. Hope they live up to their words.

Reply
CryptoQueen September 6, 2023 - 4:13 pm

Web3 is the future, no doubt. but not fully sold on how Phaver plans to integrate both Web2 and Web3. seems risky.

Reply
SamCrypto September 6, 2023 - 4:38 pm

What’s the deal with Reddit and Apollo? Anyone got more info on that fiasco?

Reply
GaryTechie September 6, 2023 - 6:30 pm

Phaver is practical, I give em that. Acknowledging that Web3 isn’t ready for mass adoption is a step in the right direction.

Reply
Becky_UX September 6, 2023 - 8:05 pm

Really like the thought of user-controlled interoperable profiles. but how does this solve the problem of targeted misinformation?

Reply

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