Nov 04 2023 26 mins
I break down Web 3.0 and Decentralized Social Media as easily as possible so the average person who knows nothing about crypto can understand this billion-dollar opportunity.
Currently, the internet and primarily social media are run by a handful of conglomerate companies (Meta, Google, Bytedance, etc.). All of the data, ad revenue, censorship, etc., are kept by these 5 companies, and the users of these platforms gain nothing besides free dopamine hits from using these platforms.
There is a significant change happening with crypto where decentralization/blockchain technology has already disrupted the financial industry... and the billion-dollar question is, "What is the next industry it will impact?"
The $200+ Billion social media industry is even more censored and closed off than the current central banking system. The current social media platforms can ban any user at any time, hoard all of the data, keep all of the ad revenue, and offer minimal incentives for creators to spend their lives on these platforms...
So, Decentralization coming to the social media space is inevitable, and "In retrospect, it was inevitable."
This is ultimately where DeSo comes in...
Decentralized Social Media (aka DeSo) is a layer 1 blockchain that allows for decentralized social media applications to build on top of it and put the ownership of content, data, and upside into the hands of the users and the creators.
Watch the full video to understand why DeSo is the future.
If you are interested to see some of the links I referenced in this video, here they are:
- https://deso.com/: Layer 1 Blockchain
- https://explorer.deso.com: The revolutionary DeSo block explorer
- https://diamondapp.com/u/Lukelintz - My profile on Diamond, which is an app built on the DeSo blockchain
- https://proposals.deso.com/docs/bitclout - Bitclout 2.0
THIS IS NOT INVESTMENT ADVICE AND FOR ENTERTAINMENT PURPOSES ONLY.
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