Building 'Google For The Economic Web' using the Ethereum blockchain
-
Upload
userfeedsio -
Category
Technology
-
view
1.390 -
download
0
Transcript of Building 'Google For The Economic Web' using the Ethereum blockchain
Building ‘Google For The Economic Web’using the Ethereum blockchain
Maciej Olpinski | userfeeds.io founder
Bitcoin proved it’s possible to program human behavioursusing economic incentives
embedded in software
Web 1.0 Web 2.0 Web 3.0
nodes documents people/brands economic agents
edges hyperlinks likes, follows, ‘friends’ tokens
primary activity linking liking, following buying, selling, sending, holding
primary relationships
semantic‘shared keywords’
social‘friends in common’
economic‘common interests’
primary content discovery mode keyword based search social based feed ?
dominant platform Google Facebook ?
These token-based networks are behaviourally distributed
interest groups.Large, groups of members
sharing the same incentives and economic goals.
15xGgMBRcqaxgZvKFnsL9qcyG7XJ2cXmqv
Blockchain
15xGgMBRcqaxgZvKFnsL9qcyG7XJ2cXmqv
13p7vVXYbqjr7DsHcfmSGhfqaqh8bjAwAk
13p7vVXYbqjr7DsHcfmSGhfqaqh8bjAwAk
13p7vVXYbqjr7DsHcfmSGhfqaqh8bjAwAk13p7vVXYbqjr7DsHcfmSGhfqaqh8bjAwAk
15xGgMBRcqaxgZvKFnsL9qcyG7XJ2cXmqv13p7vVXYbqjr7DsHcfmSGhfqaqh8bjAwAk
The primary goal of token-based interest groups is to generate network effect around the
token.
…while fending off competition.
Ethereum Blockchain
Ethereum Digix Augur
Examples Of Ethereum-based Interest Groups
Entrepreneurs build apps
Developers develop codebase
Investors provide long term capital
Speculators provide short term liquidity
tokentoken
Entrepreneurs build apps Content Curators
provide content discovery for the network
Developers develop codebase
Investors provide long term capital
Speculators provide short term liquidity
token
Today Content Curators contribute to network effects of proprietary platforms
The problem:you can’t distinguish between members and non-members of token-based interest groups in
online discussions.
‘She is my friend on FB but what if her cryptoeconomic interests are different than mine?’
‘We both own 10% of the same token and he has a website. How do I find it?’
Effects of competing interest groups’ activity
Facebook answers the question:
what/who should I pay attention to based on my social links (same friends, interests)
userfeeds applications will answer the question: what/who should I pay attention to based on my cryptoeconomic links (same tokens owned,
same economic incentives)
userfeeds.io is a platform for content discovery applications based on
economic ranking factors.
attention
informationgrowing exponentially
limited by human factors
competition for attentiongrowing exponentially
Why ‘Curators’ will be more rewarded than ‘Creators’?
Time
Avail
abilit
y
From timestamping value transfers to timestamping your ‘likes’
Curator
endorses
Content
backs
Curator Other Curator
100 ETH
100 ETH
200 ETH
500 ETH
BACKERS CURATORS CONTENT URIs
50 ETH
10 ETH
1 ETHback
back
back
endorse - 801 ETH
endorse 100 ETH
endorse 50 ETH
endorse 10 ETH
100 ETH
100 ETH
200 ETH
500 ETH
BACKERS CURATORS TWITTER
50 ETH
10 ETH
1 ETHback
back
back
endorse - 801 ETH
endorse 100 ETH
endorse 50 ETH
endorse 10 ETH
1
2
3
4
5
6
Endorsements and Backingsdon’t transfer any monetary value between
accounts…
… they transfer ‘reputation’and subsequently ‘attention’
token
Eachtoken-based
interest group becomes its a
media companywith its
own index
token
more attention on the token
Better Curationdemand for token increases, price goes up
early curators get rewarded
Network Effect
Hypothesis
More ‘eyeballs’ traslates to higher valuation of the network and is reflected in token’s price.
#token#token
#token
#token#token
Economic Identity 1 Economic
Identity II
These are NOT social networks.Our tools will enable alternative curation of existing social networks
Q: Is this a ‘decentralised social network’?
Motivations of curators will be primarily economic.Economic networks:biased, subjective, self-promoting
1 ETH owned100k ETH backing
Curator X
100s of tweets curated
How Curators Can Make Money? One of Many Scenarios
Promoted
issues a new token
Curator X owns 100% of PromotedCurator X sells his/her Promoted token to buyers - advertisersValue of Promoted will depend on Curator X’s Attention & Reputation generated with ETHThis way Curator X can convert Attention in ETH into Capital in ‘Promoted’.Curator X has to be careful though, not to lose Reputation (Backers withdrawing their Backing)
1 ETH owned100k ETH backing
Curator X
100s of tweets curated
issues a new token
Curator X owns 100% of PromotedCurator X sells his/her Promoted token to buyers - advertisersValue of Promoted will depend on Curator X’s Attention & Reputation generated with ETHThis way Curator X can convert Attention in ETH into Capital in ‘Promoted’.Curator X has to be careful though, not to lose Reputation (Backers withdrawing their Backing)
50% 50%Promoted
How Curators Can Make Money? One of Many Scenarios
UI
App
licat
ion
Laye
r
Client
Ranking/FIlter
UI
Client
Ranking/FIlter
UI
Client
Ranking/FIlter
UI
Client
Ranking/FIlter
Clo
sed
Dat
a La
yer
Identity
Curation Graph
Identity
Curation Graph
Identity
Curation Graph
Identity
Curation Graph
Application #1 Application #2 Application #3
#token
Ope
n D
ata
Laye
rBl
ockc
hain
#token #token
App
licat
ion
Laye
r
Application #3
Identity
Identity
Identity
Content URI
Content URI
Content URIContent URI
#token
Ope
n D
ata
Laye
rBl
ockc
hain
#token #token
App
licat
ion
Laye
r
Identity
Identity
Identity
Content URI
Content URI
Content URIContent URI
Search Engine Top Authors Trending Live Feed
Recommended Worth Reading You Might Like Just Photos
…
Each application is essentially a list with various rankings and formatting
#token
Twitter curated by native
retweets, likes and follows
Twitter view curated by#token interest group
Twitter view curated byETH interest group
Trending Trending
#token
View curated by#token interest group
View curated byETH interest group
Unbundling curation from existing networks and publishers
Trending Trending
Game Theoretical Considerations
App
Long Term Incentive Compatibility
Applications
Users
AppApp
Curators
Content
curate
curate
curate
attention
Time
simple filtering rule
super-intelligent AI
The apps will get exponentially more intelligent Curators’ history stays on the blockchain forever If you ‘cheat’ today then sooner or later you will be caught
Advanced filtering rules
Your best, long term strategy is to stay truthful
App ‘intelligence’
Demo** barely working prototype, with no UX work, recorded during testnet issues
Sign Up For Alpha Testing: userfeeds.io
Acknowledgements:
Hashtag Markets Attention WebContributions ToUserfeeds
@simondlr @83TB @MeherRoy