Blockchain technology to change the way people engage with online content: Primas
A meet up was held at the Google NYC recently. Primas discussed their vision for blockchain technology and how it can be utilized for the online content validation. They also declared this was their strategy for restoring health back to the Internet.
The co-founder of Primas Gan Lu introduced "The core of Primas" "lies in a middle layer built between the Internet and applications. We call it the DTCP or Decentralized Trusted Content Protocol. This middle layer records the metadata of content onto Blockchain, making it tamper-proof and traceable. Later, this immutable metadata could be searched by Internet applications and provided as evidence for a variety of use cases".
He also cited Vitalik’s fake news that was reported in the year 2017 as an example to prove how immutable metadata can be used to create a false news. "If the DTCP includes the author credit and posting time when you see the article, there would be an alert message showing that the author's credibility could be in doubt due to the fact it was only the author's third article without a sound reputation. Additionally, the photo used in this article would have been flagged for previously being published over a year earlier and not matched with the claimed time stamp. By providing this credit score and warning, it allows the reader to first process the reliability of the news before engaging in sharing, commenting or liking it.”
In this way, the credibility and transparency of the content posted on Internet will increase significantly. The company believes that they can solve the issue.
DTCP can be built, not only for validating the news posted online but also for building trust across many aspects and platform across the internet.
The major cause behind the low-quality content economics is click economy. Gan Lu introduced the Primas DApp (Decentralized App) which opposes the click economy. "The only purpose of content is to gain as much traffic as possible. Today’s content model is based on high traffic sustainability to provide revenue through side advertisements, as an author this is their revenue model and the content is only a plug."
The company’s app receives payment directly from the system through a token incentivization model. Depending on the credibility of the author and the number of audiences, the amount one can earn also varies.
"It might be the first DApp that could be massively adopted by millions on the Blockchain platform. There's always a tradeoff between security and scalability. That's why distributed ledger technology itself could never be fast. We have built an acceleration layer upon Ethereum, Cryptocurrency to off-load unnecessary operations, letting Blockchain focus on only the token and governance. The acceleration layer enables our system to scale and support an infinite number of users. The Primas DApp has already been released on the iOS App Store, search for "Primas" and try it for yourself".
Lu also repeated, "When the DCTP records metadata for one piece of content, a unique identifier called 'DNA' is generated. It is our mission to generate DNA for every piece of information on the Internet. It will be a brand-new way for information to be identified and inter-linked together. With Primas infrastructure, we can create a new Internet environment where people can trust and freely share high-quality content with each other while taking responsibility to build a better Internet".
Let the countdown begin! Our @PrimasOfficial Primas Dapp is going live on May 31st at 11:59PM CST.
We can’t wait for you all to see what we have in store. This is just our first step towards #RestoringHealthtotheInternet.
— Primas Official (@PrimasOfficial) May 26, 2018
They also tweeted that the DApp is going live on 31st May 2018.
Image source: Primas