Do you really need a dApp?
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The document discusses whether a decentralized application (dApp) is needed or simply wanted. It notes that while dApps are interesting, their user bases are typically very small compared to traditional websites. Further, dApps face challenges in scalability and usability compared to traditional apps. However, the key innovations of dApps like their open source and decentralized nature may provide value for developers and stakeholders even if most end users do not yet see the value. A few example dApp ideas are provided that could potentially provide real value for end users around areas like reputation, governance, and fair economic systems.
Do you really need a dApp?
- 1. Do you really need a dApp? Edward Tsang CTO Walimai 31 August 2018 8:30pm @ Techyizu Blockchain Hackathon Shanghai
- 2. About Walimai • Complete Anti-Counterfeiting Solution • Hardware protection with anti-cloning RFID/NFC chips • Hyperledger Fabric Permissioned Blockchain • Dev team of 15 in Russia, 2-3 in Shanghai. We are hiring good devs, contact me!
- 3. About Me • Blockchain and machine learning projects since 2016. • Previously in Mobile apps (over 25m app downloads in Travel, Education, etc.) and B2B web systems (Business Banking) • 20 years in the UK and 9 years in China so far • MA in Computation from University of Oxford • MBA from Tsinghua University
- 4. Agenda • Current state of dApp market • Do you really need a dApp? Need or want? • What’s so special about dApp? • Some app ideas
- 5. Current market • Check https://dappradar.com/ or https://www.stateofthedapps.com • Common top categories: Exchanges, Games, Gambling, Finance, Media • Some well known dApps: CryptoKitties, Golem, IDEX, DNN, Ethlance • Top dApp < 2000 DAUs; Top websites can be a 1,000,000x more.
- 8. Need or want? • dApps are cool. But can it carry and extend the blockchain buzz? • Quick way to make some money? Good for ICOs? • What’s the true value for end users? • Who will find the first killer dApp?
- 9. Key Challenges • It’s hard to beat AWS and other cloud providers on hosting costs for scalability. • A copy of all data at each node to be a fully decentralized network can be limiting. • Mobile phone is the primary computing device for most people. Typical usage pattern does not help to contribute to other users in a decentralized way.
- 11. What’s dApp? • Open Source – The code is open-source and autonomously managed • Decentralized – Records and data are stored using blockchain, providing trustless interaction and avoiding any single point of failure • Incentive – Use cryptographic tokens reward users providing computing power • Algorithm/Protocol – Tokens generated through a cryptographic algorithm
- 12. What’s so special? • Open Source – Been around for a while, usually monetized with SaaS or support model. • Decentralized – BitTorrent did quite a good job with P2P file transfers. • Incentive – Cash isn’t better than crypto today? “Buying” users is not a great business for most companies. True value attracts far more users. • Algorithm/Protocol – Now this is “new” for apps. An open and secure way to generate tokens (account for value) trusted by all users. Allowing for new business models. •
- 13. … who cares? • Open Source – Key Stakeholders. Not end-users. • Decentralized – Developers and Key Stakeholders. Not end-users. • Incentive – For many early users. Not end-users. • Algorithm/Protocol – Developers and Key Stakeholders. Not end-users. End-users care about if the app is elegant and useful. Loads quickly, runs smoothly, etc, etc. Is it valuable to them? Even as a game, is it valuable for their attention? dApps should not be less valuable than other apps.
- 14. App Ideas • Incentive stake-based accountability systems • Reputation-based parliamentary decision making systems • Digital urban food security systems. • Decentralized fashion. • Stake-based freelance labor payment systems. • Contribution and reputation based scholarly articles. • Stake-based insurance services. • A currency based on collective assessment of aggregated value • A plugin for punishing social bias. Source: https://ether.direct/2017/07/16/30-random-dapp-ideas/
- 15. App Ideas • A renter-to-rentee property, rental and room • Productivity. Or Else. • Quantifying physical-to-digital proof of work. • Stake-based trusted shipments with delivery validation. • Use-based infrastructure tolling. • A music streaming DApps. • Authenticating news tips and information sources using private identity. • Use-based internet providers. • Secured disappearing videos, messages and images. • A mobile key to a membership-based physical spaces. Source: https://ether.direct/2017/07/16/30-random-dapp-ideas/
- 16. App Ideas • DApp retail rewards programs and stake-cashout circulations • Get paid to take surveys. • Using smart sensors to reward fashion ambassadors. • The Fair Trade DApp. • An image embedder that let’s paid for when people use your images. • Stake-based government program funding. Citizens rebates for lower crime rates, less accidents, and better health. • A virtual reality running on a DApp. • A video streaming DApp that pays content creators for videos and watches for watching ads. • A DApp for an asteroid mining/space mission project fund that rewards users for completing difficult challenges. • Establishing community energy security. Source: https://ether.direct/2017/07/16/30-random-dapp-ideas/
- 17. Questions? LinkedIn or write to: etsang@walimai.com
- 18. Thank you!