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It's time to decentralize OnlyFans

 


Dfinity founder Dominic Williams believes that onlyFans and other similar platforms have to be transformed through decentralization.

In an interview with CoinTelegraph, he invited developers to work on a content platform that his company launched this year: Internet Computers (ICP) .

The danger of censorship

That summer, JPMorgan Chase, Metro Bank, and other major financial institutions forced OnlyFans to ban sexually explicit content on the platform.

OnlyFans CEO Tim Stokely told the Financial Times that his company had "no choice" but to comply. The financial institutions had threatened that they would end the cooperation with OnlyFans. This would also damage the reputation of the platform.

Williams believes the threat of censorship comes not only from financial institutions but also from traditional IT services:

OnlyFans could also be censored by one of the traditional IT services such as: B. Cloud services and data centers. Just like Amazon Web Services switched off the social media service Parler. One of the most important ways blockchains can run is to run smart contracts. You can't stop this. This enables systems to be created that are more resistant to third-party censorship.

On the other hand, dApps are still dependent on conventional IT. This means that not every blockchain can really withstand censorship. Williams believes that a more decentralized version of OnlyFans could exist on Internet computers.

The Dfinity Foundation has a $ 250 million grant for this. That would be "a good starting point," says Williams. The program aims to support developments on the ICP platform. It is completely meritocratic and already finances almost 100 projects.

Will ICP displace Ethereum?

Some investors have speculated that ICP could replace Ethereum as the platform for smart contracts. Williams believes it won't happen in the long run. Just as Ethereum has not supplanted Bitcoin until now.

Internet computers are unlikely to make Ethereum obsolete for similar reasons. However, the same cannot be said of other Ethereum competitors. Your contribution to innovation and authenticity is simply not enough.

The founder of Dfinity believes that ICP and Ethereum will grow together and become a common source of innovation for Ethereum developers. In terms of market capitalization, the ICP blockchain currently ranks 23rd, at just over $ 8.4 billion, compared to Ethereum's market capitalization of around $ 424.8 billion.

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