#009- Nader: How DeSo will compete with Facebook
No more demo mode. Turbo is turned on!
@diamondshands has finally revealed his identity — Nader Al-Naji — and this causes a wave of media reports which Nader takes advantage of to also unveil his action plans and how DeSo will be able to compete with monopolies on social networks like Facebook . This was excellent news which caused the price of the CLOUT — now called DESO — to jump by 187% from $ 73.73 on September 21 to $ 138.24 on September 26 .
Diamondhands is Nader Al-Naji
The creator of Bitclout and the DesO blockchain finally revealed his identity six months after the platform’s launch began in March. His name is Nader Al-Naji. He is a 29-year-old Princeton graduate who worked for Google as a software engineerfor a few years before launching his own project: the creation of a stable cryptocurrency called Basis which aimed to replace central banks. Despite the support of big investors and a fundraising of 133 million dollars, he had to abandon this project, which faced too many obstacles.
Bitclout.com becomes one node among others
During an interview on Zoom, @nader explained that Bitclout is a demo app for testing the validity of a social network on blockchain. After six months of successful testing, Bitclout.com will become one node among many others on a blockchain now called DeSo (short for Decentralized Social), and will change its name soon.
This new node, which is expected for next week, will come with a new look and new features such as the referral program or affiliate program.
Nader will be the boss of this new node as well as of the DeSo blockchain, which aims to accommodate all nodes in all countries and in all languages.
$ 200 million to boost DeSo’s development
Nader has promised to explain in a few days how the DeSo foundation of which he is president will use part of its funds amounting to 200 million dollars to help financially the developers, the creators of NFTs and the small creators.
These aids will go first to the developers so that they can develop nodes with new features. The financial contribution will be aimed at both developers of existing projects and developers of new projects.
A portion of the funds will also be used to buy NFTs from their creators, and a portion will be used to buy creator coins from small creators.
A new verification system
Nader said a new verification system will be put in place.
Each node will have its verifiers. Each approved verifier will have his own way of proceeding and the authorization to award a specific badge to the verified accounts. These badges will not replace the current blue check icon but will come in addition.
The integration of DeSo on other NTFs platforms
Nader mentioned that he was in contact with several NFT platform managers, including Opensea, and that the question was not whether an integration of DeSo on these platforms was going to happen, but when.
In such a way that we will be able for example go to Opensea to buy DeSo NFTs or buy Opesea NFTs and pay in $ DESO.
Listing $DESO on Coinbase
Nader claimed that DESO has passed all regulatory checks and is in compliance with Coinbase.
Its listing is therefore only a matter of time. Nader hinted that the listing now depends on the technical side of the integration.
The possible splitting of the $DESO
Nader raised the possibility of a $DESO split. What does that mean?
The splitting of a currency is intended to lower its price and make it more attractive to investors.
Let’s take an example. Let’s say you have 10 $DESO and the value of $ DESO is for example $ 130. So you have $ 1,300 in $DESO. If we split the $DESO at the ratio of 10 to 1, you would suddenly own 100 $DESO, the price of which would have been divided by 10. This means that you would still have the same dollar value: $ 1300.
The interest in lowering the price of $DESO, without lowering the value of funds held by their owners, is primarily a psychological interest. The $DESO would potentially attract more investors.
Can DeSo compete with Facebook?
In interviews with mainstream media like CNBC News Channel, Nader said DeSo was meant to compete with social media giants like Facebook.
As on the blockchain all data is open source, what will happen is that all developers around the world will be able to access it to create their social networks on the DeSo model. « That can create the scale economy that is needed to actually being able to compete with centralized monopolistic platforms. We can unlock the ingenuity of anybody anywhere in the world, not just of one company: the best researchers in the world can build models on the DeSo data », Nader explained.
This technological revolution will be, according to Nader, “extremely disruptive” for centralized platforms in a monopoly situation which will have a hard time adapting because they are prisoners of a closed model which relies on advertising and for this reason cannot share their data.
Young woman has $ 5,800 stolen in an exchange scam
Two days ago a young woman named Emina (@eminabec) was robbed of $ 5,800 by another member who offered to buy her $DESO.
Feeling confident after several successful transactions, Emina was not suspicious but in the last transaction, the buyer whose account is @Easypop did not send her this last payment worth $ 5,800.
« I live in Boston and the rent is high. And I have a loan from my studies to repay. I needed this money before October 1st. I am angry and I feel so stupid. », explained Emina.
“He had changed my CLOUTs a few times. He seemed trustworthy. »
@Easypop, whose real name is Guilherme Lage, has agreed to speak to us on Telegram to give us his side of the story.
He confirmed the facts and explained that he did this to pay off his father’s debts.
He said he wanted to reimburse his victims and appealed:
“If there is someone who can hire me for remote work or something I can do, they don’t need to pay me, but can pay Emina directly. I can do everything 12 hours a day, 7 days a week, until I have paid off everything. “
However, the circumstances do not plead in his favor. Indeed, Guilherme had already made a rug-pull on August 24, selling all of his creators coins for the equivalent of $ 4400 and thus wiping out the investments of all those who had bought his token.
In addition, he has not, to date, posted any apologies on his wall and his victims say he blocked them.
A solidarity initiative was immediately set up by another member named @Oltion who had the idea of creating an NFT whose proceeds from the sale will be entirely donated to Emina.
The Hectic Life of Mr. Deso
TO BE CONTINUED IN THE NEXT ISSUE