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So the idea of web3 is that the only thing stopping me from making my own twitter is that I don't have their past and future data. If I had real time READ acces
by hooande 5y ago
So the idea of web3 is that the only thing stopping me from making my own twitter is that I don't have their past and future data. If I had real time READ access on their database of public tweets, I could make hooande-tweeter.com and it would be a viable competitor. This would mean that social media companies have less control over what we see and say due to market competition.
This obviously isn't working in the real world. OpenSea can still delete moxie's NFT. Starting a competitor to them will be difficult even though their core data is completely public. Just like twitter, OpenSea's position is based on brand awareness and first mover advantage. At this point competing would require differentiating features that solve real problems. That's a lot of work just because they deleted an NFT.
A better example might be twitter banning trump. If someone had access to all of twitter's data in real time and used it to start "twitter + trump", I could see a significant number of people using that. But then you'd kind of have half of people on regular twitter and the other half on trump twitter and it wouldn't be the same thing. In fact, it's fragmentation all the way down. I don't know if having a dozen different social media interfaces with slightly different rules and guidelines would solve anything.
The general idea seems to be that data is more powerful than branding. I don't know if that's true. Google and Facebook have a place in the zeitgeist that is more valuable than a search index or a social graph. We'll see if blockchain based open data is the answer. I think it might be way more complicated and less technical than that.