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Mike | Abundance 🌟
@abundance
Farcaster has the potential to expand its total addressable market (TAM) and disrupt multiple platforms and industries — but are we too busy disrupting (and distracting) ourselves instead? https://paragraph.com/@abundance/farcaster-the-platform-disruptor
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steve
@steven-b
Maybe it’s an idea that will come in due time but we’ve had the decentralized identity primitive for quite a while in crypto and there haven’t been any decentralized uber/airbnb’s yet because the actual execution required is insanely difficult. Seems like the limiting factor is executing on the quality control, dispute resolution, customer experience etc. Though I still am a believer that it’s possible, just incredibly difficult
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Mike | Abundance 🌟
@abundance
yea you're right that decentralized identity is not a new primitive. what's new with Farcaster imo is that you have an open graph where users are interacting - so you have rich data that can be used for reputation. Reputation is the component you actually need to make these platforms work of course there are other challenges involved for Uber/Airbnb etc - I just don't think that's what stopping newcomers from succeeding. having to bootstrap a network is the harder problem, and FC solves this
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steve
@steven-b
yeah for sure, farcaster seems to be the first real well-executed decentralized id/open social graph where these applications seem more realistic
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