“Building an OnlyFans on blockchain is a great opportunity”

Dfinity founder Dominic Williams believes that content creation platforms like OnlyFans are now ready to evolve as decentralized technologies become popular or “mainstream”. It invites developers to join a blockchain-based content platform in. to build Internet Computer (ICP), a high-performance general-purpose blockchain introduced earlier this year by the Dfiniity Foundation.

In an interview with Cointelegraph, Williams spoke about recent attempts by financial institutions to censor adult content creation on OnlyFans. as well as the overview on smart contract platforms.

Creator-driven platforms are ideal for decentralization

In August this year, major financial institutions like Bank of New York Mellon, Metro Bank and JPMorgan Chase effectively forced OnlyFans to ban sexually explicit content on their platform. CEO Tim Stokely told the Financial Times that his company, the has become synonymous with adult content creation, “having no choice” but to meet banking requirements; (Banks have reportedly threatened to cut ties with OnlyFans due to reputational damage by providing a platform for adult content.)

“Building an OnlyFans on blockchain is a great opportunity”
“Building an OnlyFans on blockchain is a great opportunity”

While Stokely eventually reversed its decision to ban explicit content after receiving assurances from banking partners, the entire ordeal sparked a public debate over censorship. Dominic Williams said OnlyFans is a case study too why platforms for content creation need decentralization.

The threat from censorship, Williams said, comes not just from credit card companies, but also from traditional IT services:

“[OnlyFans] It could also be censored by any of the traditional IT services that you use to run your online services, such as cloud services and data centers, just as Amazon Web Services separated the social media service from Parler.

Decentralization through blockchain technology can solve this problem:

“One of the most important ways blockchains can add value is to execute smart contract code that cannot be stopped, which can create systems that are more resilient to third-party censorship.”

However, not all blockchains can offer real censorship resistance, as decentralized applications are still dependent on traditional IT. “That’s because they can’t scale to store large amounts of user content themselves, and they can’t deliver interactive web content directly to users. Therefore builders have to integrate private or cloud servers into their DApps. “ called.

The Dfinity scholarship program is keen to hear new ideas

Williams actively encourages developers to create a more decentralized version of OnlyFans on the Internet computer. In fact, he cited the Dfinity Foundation’s $ 250 million grant program as a good starting point for promoting these ideas.. The scholarship program, which is entirely performance-based and designed to help teams build Internet computers, has funded more than 80 projects.

Initial funding is small but can be expanded once the projects show progress, Williams said. The first results were promising.

“Today people have created things like chat, professional networking, and games that run entirely on the Internet computer blockchain.” called. “It’s only been four months since Genesis and there are already more than 500 developers building. Services like Open Chat are growing rapidly and already have tens of thousands of users. In fact, more than 1.2 million Internet identifiers have already been created.

Internet computers do not make Ethereum obsolete

The search for the next “Ethereum killer” has led some investors to speculate as to whether the Internet computer will take over the cloak of the outstanding smart contract platform. Just as Ethereum didn’t make Bitcoin (BTC) obsolete, however, the ICP is unlikely to crush Ethereum in the long run, Williams admitted. However, other competing smart contract platforms are unlikely to persist in the long run.

“It is important to note that Ethereum did not make Bitcoin obsolete”, explained. “For similar reasons, the Internet computer is unlikely to make Ethereum obsolete. The same cannot be said for the so-called ‘eth killer’ blockchains, however, as their contribution of innovation and authenticity lacks substance. “

Williams hopes Ethereum will integrate with internet computing and become a source of innovation for Ether-based developers.

The internet computer blockchain currently ranks 23rd in terms of market capitalization, with the total value of ICP cryptocurrencies being around $ 8.4 billion. For comparison: The market capitalization of Ether (ETH) is currently 424.8 billion US dollars.

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