● Trust and blockchain ● Blockchain terminology ● Key advantages of blockchain ● Threats, opportunities, examples ● Trends and predictions ● Next steps for you ● A disclaimer What will you get from this talk? Dcent.tech @dcentagency
A brief history of trust Tribes - people have to trust everyone in the group, can't trust outsiders Towns - need to trust currency to enable specialised lifestyles and trades Cities - need to trust police and governments to maintain citizen safety International - need to trust institutions for education, government, finance and law Digital - need to trust computers and the corporations that run them -- The history of trust to this point is a story about centralisation -- Blockchain - no need to trust anyone, only need to trust maths Dcent.tech @dcentagency
"This is the existential challenge of our times….taking the informed risk to join the battle for truth so that facts triumph over fears." Edelman Trust Barometer 2018 http://cms.edelman.com/sites/default/files/2018-02/2018_Edelman_TrustBarometer_Executive_Summary_Jan.pdf The challenge Dcent.tech @dcentagency
"Our role as marketers is to build ever deeper relationships with clients and prospects." Jeremy Skule CMO of NASDAQ https://www.neverstopmarketing.com/wp-content/uploads/2017/07/CMO-Pr imer-For-The-Blockchain-World-NSM.pdf The opportunity Dcent.tech @dcentagency
Blockchains - decentralised ledger technology, consensus by algorithm, smart contracts Smart contracts - programmable contracts, execute on the blockchain when conditions are met Cryptocurrencies - blockchain technology, decentralised currencies, exchange or store of value Coins/tokens - digital representations of an intrinsic or physical assets tracked on a blockchain Oracles - trusted authorities, involved in smart contracts dApps - decentralised apps which use the blockchain itself as their operating system Cryptoeconomics - the protocols that define trade behaviour in a DLT-powered system https://www.legalgeek.co/learn/blockchain-wtf/ Dcent.tech @dcentagency The jargon
Dcent.tech @dcentagency Threats What does this new ecosystem have that threatens our current hegemony? 1. Platforms 2. Developers 3. Ecosystem 4. Governance Zooming out, longer term I don’t think WordPress can remain as competitive as it is now if it does not recognise these threats and evolve.
Dcent.tech @dcentagency Steemit is a new platform that’s kind of like Reddit or Medium but underpinned by it’s own cryptocurrency - where Medium has claps, Steemit has STEEM dollars. You can earn STEEM by: ● Publishing content ● Voting and curating content ● Buying tokens directly Then you can sell your tokens to buy your groceries. https://steemit.com Platforms
Dcent.tech @dcentagency Civil is an Ethereum dApp that uses tokens to: ● Allow direct reader revenue ● Manage platform governance ● Incentivise 3rd party developers ● Provide a token-curated registry Civil fixes a number of key issues specific to publishing businesses. Platforms
Dcent.tech @dcentagency There’s a lot happening in the platform space There are already some very credible platforms emerging in this space, e.g. ● https://decent.ch ● https://po.et ● https://joincivil.com ● https://steemit.com ● https://www.yours.org ● https://www.synereo.com ● https://akasha.world Credit for map: https://medium.com/@matteozago/why-the-net-giants-are-worried-about-the-web-3-0-44b2d3620da5
Dcent.tech @dcentagency Cryptocurrency and blockchain is a direct threat to developer talent for WordPress. “The growth in developer count is staggering. @ConsenSys now has more devs working on ETH projects than existed in the entire crypto ecosystem 4 years ago, and that's just <10% of the ETH devs. Projects you've never heard of have teams of 50 full-time engineers.” https://twitter.com/aridavidpaul/status/9849812769135575 09?s=12 Blockchain devs can earn more that WP devs. How can WP companies prevent the loss of talented devs to blockchain projects? Developer drain
Dcent.tech @dcentagency WordPress plays a wide variety of roles within the web ecosystem, both as a CMS but also in terms of interfaces, data flows and connectivity. Will blockchain projects change the nature of the ecosystem and change that connectivity role? E.g. https://omnitude.tech Ecosystem “Omnitude is a middleware layer allowing eCommerce businesses to adopt blockchain quickly and efficiently, without needing to replace current systems.”
Dcent.tech @dcentagency “So, we’re going to build your website using WordPress, which is an open source software project available at WordPress.org. We’re going to install WooCommerce which is open source too, but it’s owned by Automattic, which is the company behind WordPress.com. Further, to make use of a bunch of WooCommerce features, we’ll need to connect your site via Jetpack to WordPress.com’s infrastructure. Oh, and then there’s the premium theme and plugins.” Governance New systems of governance are coming for software ecosystems (look at Tezos as an example). Can WordPress evolve to adopt these new structures - should it?
Dcent.tech @dcentagency Opportunities So, what new capabilities does blockchain give us? 1. Fix broken things 2. Security & infrastructure 3. New integrations 4. New services 5. Bigger impact Zooming out, longer term If we keep doing what we’ve always done as a community - improving, integrating and professionalising then we have an opportunity to have a far more strategic input than ever before.
Change the economics of spam by adding a tiny transaction cost to things like email and comment spam. https://coinhive.com comment spam https://bitbounce.io email spam https://www.bobsrepair.com review fraud Dcent.tech @dcentagency Fix broken things
Dcent.tech @dcentagency Security & infrastructure As this Trac ticket rightly points out, WordPress’ entire ecosystem is vulnerable through api.wordpress.org. Could we use blockchain to store version hashes and/or distribute updates? This is just the start...
Dcent.tech @dcentagency New business models and 3rd party apps will offer new opportunities for WordPress to extend its reach and capability. E.g. Basic Attention Token is a way to monetise content, protect privacy and reward users for consuming ads. https://basicattentiontoken.org/ New integrations
Dcent.tech @dcentagency Po.et is a platform that uses the Bitcoin computing network to cryptographically prove and manage the ownership and rights to content you create. It already has a WordPress integration: https://www.po.et/integrations New integrations
Dcent.tech @dcentagency Check out this Lightning Network checkout demo: New integrations The Lightning network is a ‘layer two’ blockchain solution that allows the bitcoin blockchain to be used for much higher transaction volumes (and faster speeds).
Blockchain-based identity, digital assets and certifications will be like the rel=author tag - another ranking signal for search and social platforms. https://searchengineland.com/blockchain-will-impact-search-mark eting-industry-282998 http://www.digitalistmag.com/customer-experience/2017/11/08/bl ockchain-impact-marketing-search-programmatic-influencers-05 489233 New integrations Dcent.tech @dcentagency
What other services will you offer? ● Business strategy ● Brand consulting ● New integrations ● Security auditing ● Community marketing ● Training ● What else? New services Dcent.tech @dcentagency
“the fundamentals of the token model...allow communities to govern themselves, their economics, and rally a community...to flourish in a way that was previously impossible.” Fred Ehrsam (co-founder of Coinbase), Value of the Token Model “an infinity of subcultures...now blossoms on the Internet — vegans, body modifiers, CrossFitters, Wiccans, DIYers...Millions of people are finding their true peers in the cloud.” Balaji Srinivasan (founder of 21.co) Software is Reorganizing the World Combine these insights and we can imagine a world in which the granularity and transparency of blockchain data gives economic power to very specific communities. https://www.neverstopmarketing.com/wp-content/uploads/2017/07/CMO-Primer-For-The-Blockchain-World-NSM.pdf Bigger impact Dcent.tech @dcentagency
Dcent.tech @dcentagency The new brand: 1. Clear mission: human values 2. Cohesive plan to achieve vision 3. Harness the power of a community of believers who are stakeholders in multiple ways: emotional, psychological, and financial Bigger impact Core new brand capabilities: • Be willing and able to provide transparency via blockchain proofs • Inspire and recruit believers in the core vision and mission • Propel circular economies of authentic value that support the vision and mission
Dcent.tech @dcentagency ● Tech giants will adopt/release/buy e.g. Uber/Amazon tokens (Rakuten already has) ● Media-buying agencies will innovate or struggle ● Everything that can be tokenized will be tokenized ● Shift towards purpose, authentic value creation, community curation and experience ● Instantaneous migration between service providers ● Browsers will help manage your online budget ● The role of oracles (to provide data for smart contracts) will lead to the growth of importance of trusted authoritative data sources ● Blockchain-based Ad- and Mar-Tech will see huge growth (400% in last 6m alone) Trends - my take
Dcent.tech @dcentagency ● Download Brave browser and check out the settings ● Try implementing BAT on your website and letting people know you’re using it ● Sign up to Steemit or Poet and get involved ● Put some time into reading and learning about blockchain, CCs and DLTs ● Think about what features these new platforms offer and what we can learn ● Consider whether your clients’ brands are ready for this new reality ● Think about how blockchain might affect your business ● Think about how blockchain might affect your clients What should you do now if you're a WordPress professional?
Dcent.tech @dcentagency DISCLAIMER: Blockchain isn't the right fit for everything and you need to do your own research. This is not financial advice. This presentation includes content published from countries all over the world. Persons who access it, agree to do so in accordance with their local laws. All opinions expressed by this author or others are solely the opinion of that individual, and should not be viewed as an endorsement or investment advice. You should not treat any opinion expressed here as a specific inducement to make a particular investment, or follow a particular strategy, but only as an expression of that individual’s opinion. Statements and opinions are subject to change without notice. Past performance is not indicative of future results. Dcent does not guarantee any specific outcome or profit. You should be aware of the real risk of loss in following any strategy or investment discussed. Strategies or investments discussed may fluctuate in price or value. Investors may get back less than invested. Investments or strategies mentioned may not be suitable for you. The material discussed here does not take into account your particular investment objectives, financial situation or needs, and is not intended as recommendations appropriate for you. You must make an independent decision regarding investments or strategies mentioned. Before acting on information on this presentation, you should consider whether it is suitable for your particular circumstances, and strongly consider seeking advice from your own financial or investment adviser.
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