At KryptoSeoul’s Buidl Asia event in South Korea, decentralized social media is a major point of discussion. Cointelegraph interviewed Makoto Inoue, an Ethereum Name Service (ENS) developer, to gain insight into Web3 social media, its capacity to supersede Web2, and the parts that ENS and the metaverse will play in this new social system.
Inoue stated that Web3 is “intrinsically social and decentralized”. The programmer accentuated that all is visible since it is constructed on top of the blockchain. This renders the blockchain a “social graph”, usually utilized to indicate the interconnection of relationships in an internet-based social network.
He stated, “ENS is already inherently permissionless and social, and it makes addresses transparent but still human-readable. Furthermore, by linking the ENS name, it forms a social graph.”
The developer noted that ENS can be used when it is necessary to make concepts more comprehensible, thus resulting in the formation of an “identity trail.” He elucidated:
Inoue informed Cointelegraph that, in the context of decentralized social media, no organizations would be able to impede the activities of its users. As opposed to traditional social media, there is no entity that can prevent anyone from using the platform. He elucidated that:
On February 2nd, Twitter, a major social media platform, declared that it would begin to charge developers who use its Application Programming Interface (API) in their projects. On June 1st, Reddit, another popular online forum, began to do the same with what was previously free. However, according to Inoue, this will not be the case in Web3 as it is inherently open.
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Cointelegraph also inquired Inoue about the likelihood of Web3-based social media superseding the existing Web2 social networks. Instead of completely replacing them, the developer expressed his opinion that Web3 can be used to upgrade and refine the current platforms. “I would say Web3 technology can augment what is already present on the Web1 and Web2 rather than Web3 having to supplant them entirely,” he elucidated.
When questioned about the part the metaverse plays in decentralized social media, the developer responded that the craze for artificial intelligence has already taken control. He elucidated:
In 2021, Facebook underwent a rebranding to Meta, in order to focus on incorporating metaverse-based technologies into the social media realm. Nevertheless, Meta has recently reported a $4 billion deficit in its metaverse division, although this was balanced out by its artificial intelligence division.
Inoue asserted that Web3 socials are not only restricted to the internet. He presented his ID card, which can be used to connect with those who have the same card. He stated that this can be employed in events where people can tap one another’s cards to store the encounter on the blockchain.
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