First, Blockchain fuck the Central Bank, use blockchain build decentralized cryptocurrency to restricts the power of the regime to print money. With the rise of the Smart Contract Platform, the blockchain begins to fuck Wall Street, through the financial model of asset non-custodial to Challenge the bottom financial order.

What's next? Web3.0? The next step of the blockchain is fuck Facebook, which uses blockchain to build a data privatization and financial social platform.

Make a prediction, Decentralized social networks are the crown jewel of the blockchain's contribution to transforming human civilization.

Ok, that's the question, what problem does SocialFi actual solve?

Looking at the existing social networks, it can be roughly divided into two categories: relationship-base social networking and content-based social networking.

Relational social networking is something like Wechat, and the core business is a communication tool between people. Content social networking is something like Twitter. The core busines is a platform for people to write and read articles.

The pain points for users of current relationship social tools are privacy, account and relationship chains are controlled by the platform.

Our current IM tools all have privacy issues. With the big data and AI, the authority has the power to spy all users' chat records, which is terrible.

Peer-to-peer encrypted communication has existed for a long time, but it has not been popular when it is applied to IM communication. Everyone does not like encryption, including email. The vast majority of users don't care about privacy, the platform only needs to give some sugar, the users will give their precious data to platform. Because of the social network effect, those who care about privacy also have to accept the fate of being controlled by social platforms to chat records.

The mission of the blockchain is likely to be to turn encrypted communication into a way of life, subtly allowing the vast majority of people to use peer-to-peer encrypted communication to protect the privacy of all Internet users.

I can't guess how the specific blockchain will promote this lifestyle. For example, will it be chat to mine, talk to earn, etc. I don’t know yet.

The ownership of the current relationship social tool account and the ownership of the relationship chain belong to the platform. As a result of KYC, it is not possible for you to transfer your account to others. After your WeChat friends are added, this kind of relationship chain cannot be transferred to Dingding. This is a bug.

Blockchain can easily solve this bug. The account is realized by a public and private key pair. The relationship chain is protocolized, all on the chain, and the IM communication client reads the relationship chain from the chain, and the relationship chain can be imported into any client.

The pain point for current content social users is the ownership of content. The copyright of the articles you write on Weibo and Zhihu does not necessarily belong to you. At least the platform can delete your articles arbitrarily, limit your current flow, and ask you to rectify sensitive words.

It is still very easy for blockchain social to solve this kind of problems, just make the content into NFT.

In SocialFi, the platform can limit the display of your content NFT, but creators can easily transfer their NFT to other platforms. Now that you write articles on Weibo and want to import them to Twitter, the trouble is going to be big, and you keep copying and pasting. If you write for five years, you will not be tired.

However, the SocialFi platform uses public and private keys as accounts, and 100% migration can be achieved by directly importing encrypted private keys on the platform. Not only the content NFT is migrated, but the relationship chain is also migrated. This greatly increases the ability of the creator and the platform to play games.

There is a need for monetization among users of relationship social and content social. Nowadays, social monetization is basically to bring goods and advertisements, but the platform has to take away a large part of the commission.

How to make social financialization is the key design idea of SocialFi.

The financialization of content socialization is easy to understand. Opensea gives a good example. As long as the content is NFTized, it can be sold. Based on Opensea's further optimization, learning from e-commerce platforms such as Amazon and Taobao, and adding good reviews and bad reviews, it becomes a social e-commerce platform. In the future, artists will go directly to the NFT platform to sell their art.

The social financialization of the relationship chain has not yet seen its shadow. This may be the next hot spot for ICOs.

Summary: What problem does SocialFi want to solve?

1. Turn encrypted communication into a way of life.

2. Return the social account and relationship chain from the social platform to the user.

3. Give content social creators real content ownership.

4. Social financial design.

5. Turn encrypted communication into a way of life.

6. Return the social account and relationship chain from the social platform to the user.

7. Give content social creators real content ownership.

8. Social financial design.