TL;DR Breakdown
- Mr. Ross stresses the need for a decentralized media protocol.
- He concludes that digital currency could be the mode of fee payment on platforms that use decentralized media protocol.
A new decentralized media protocol is needed, according to Ross Ulbricht, a software engineer of American origin and alleged founder of Silk Road. Ulbricht is a big name in early Bitcoin investors’ minds. Silk Road, which happens to be a darknet market place is said to be the cause of the double life sentences presently faced by Ross Ulbricht.
Despite his online absence, Ross is highly interested in decentralized practices and ideas, and this interest has led to his recommendation of a new decentralized media protocol. His latest invention made an appearance on Medium today.
Mr. Ross stressed the need for a decentralized media protocol. He cited the need by stating that users need to control their data during their interaction with the platform. On the other hand, tech Giants, for the sake of profit generation, have made systems that are platform-centric.
As a result of these systems, users have become sources of the necessary clicks and contents needed to accumulate advertisers’ money.
Platforms have cemented the mode of operation by their control of content servers and by distributing content.
To take a second look at this operation, the user-centric status needs to be placed on new generation systems of social media. For this to be made possible new components such as the interface provider needs to be introduced alongside the payment by users to gain access and payment to users for clicks made by them.
Though the most common model of content distribution, which happens to be user-centric, isn’t new decentralized media protocol services, Mr. Ross has several recommendations which when implemented, would make the platform’s services more reliable.
A visualization of Ross Recommended decentralized media protocol in practice
The platform first needs to give equal support to photos, text messages, and videos. Next, the access needs to be protected by encryption, though protection by asymmetric cipher seems more secure.
Ross’ decentralized media protocol, unlike other platforms, places attention to message context.
He also recommended that accounts of users can be managed like a crypto wallet using keypairs. He concluded that digital currency could be the mode of fee payment on platforms that use decentralized media protocol.
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