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Tay Zonday
@tayzonday
I find it vital to distinguish blockchain technology from cryptocurrency in defining the onboarding problem and its solutions. Cryptocurrency is a referential perspective on a subset of blockchain transactions, but blockchain technology deserves more than being under-imagined as a fiat replacement. It’s a centralized-data power and authority replacement that can go in utopian and apocalyptic directions. Many human pain points can be related to fiat being an inaccurate and manipulated value ledger— but telling a consumer they’re harmed by fractional reserve banking and other fiat theatrics is like telling a fish the water is dirty. What else is the fish supposed to dream of? The fish must believe there’s a continent it can evolve for and learn to walk on. Humans living as derivatives of centralized data must believe that owning their data, from currency to social media to healthcare to the car they drive— is a continent worth evolving for and learning to walk on.
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Elie
@elie
I don’t get the own your data argument. I don’t feel like I own my data on Farcaster. The world owns it. It’s like Twitter on steroids.
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Trigs
@trigs
That's because the primitives to own your data and actually use it productively are still in development. The dream is everyone owning their data. I like @tayzonday's analogy of fish evolving legs to walk on land. We're still fish dreaming of owning our own data.
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Elie
@elie
What does owning your data look like then? Files on my computer?
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Trigs
@trigs
Cryptographically secured data on a decentralized platform utilizing encryption technology like ZK and FHE to ensure complete user ownership and control. Look at projects like creds.xyz or jackalprotocol.com for examples of how projects are building this. Galactica.com is another that is heavily invested in users owning their data.
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Trigs
@trigs
Creds is built in cheqd.io which is the base layer building trusted data markets for private, user owned data. They are helping write the book on digital identity regulations right now. This stuff is gonna hit one of these cycles and it'll be a big change in what's possible on the app layer.
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Elie
@elie
That’s cool. And I’m sure there are use cases. But I don’t see the social media own your data argument. Once it’s on social media and it’s not encrypted it’s easily accessible to everyone. Even more so than on Twitter. Because Twitter has a gated api at least.
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Trigs
@trigs
Imagine a verified AI service where the data used to teach the AI verified its sources, whether social media or otherwise, and users who contributed data have the right to opt in or out and they maybe even get monetization for profit generated from these verified outputs. Sure, anyone can use public data. But if ppl only use verified AI's to ensure data accuracy and output quality, then unverified AI won't be very appealing. Just one simple example.
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