The People Behind the Protocol: Fractal Founder Spotlight
Julian Leitloff Co-Founder & CEO
With the development of Web 3.0, we have been presented with the opportunity to ensure data privacy whilst simultaneously keeping pseudonymous metadata publicly available. This opportunity should not be allowed to fall by the wayside; whilst the duopoly of Google and Facebook grows ever larger; the free internet is not lost yet by any means, it just needs to be grasped with both hands.
We are building an open-source, zero-margin protocol that enables the world to take back control of their own personal and behavioural data. Leveraging the trustless power of blockchain, Fractal Protocol helps users collect, curate, verify and privately share data about themselves. We want to empower the users of what was originally intended to be a free internet to regain ownership of what is rightfully theirs, whilst also ensuring that publishers are fairly rewarded and that advertisers can increase campaign efficiency on a level playing field.
But who are the people behind Fractal Protocol, what drives them to address the issues faced by the monopolisation of the digital advertising markets, and user data? What do they see the future looking like both with and without Fractal Protocol?
In this article, we talk with Fractal Protocol Co-Founder and CEO Julian Leitloff.
Having co-founded his own business and taking it over $1 million in revenue at 22, Julian was named as one of Forbes 30 under 30 in 2016. Julian started his career in banking but soon turned to academia, completing his graduate degree at Zeppelin University paired with research at the Chair of Entrepreneurship, Technology and Innovation on alternative finance.
How did you get involved in the blockchain space?
It must have been in 2015 when I met Bruce Pon, who now leads the Ocean Protocol at the Tech Open Air. Back then eCommerce was still a thing in Berlin, but he talked about using tech for social interaction beyond just social media. Back then he built an IP layer on Bitcoin.
We stayed in touch and when I left my first startup after five years, I wanted to get back to my initial field — alternative finance. I talked to Bruce and never got out of the blockchain rabbit hole again.
What fascinated you most about decentralized governance?
Systems that didn’t require social status or middlemen have always fascinated me. The experience of writing an article on Wikipedia as a kid struck me: the feeling of a truly meritocratic system with no one rejecting my article; purely based on — in this case — at my age was thrilling. I got a neck for it: Stocks started fascinating me early on for the same reason.
You just had to be good, that’s all that counted. I started programming, just small PHP projects, but it was enough to foster this excitement about building things and knowing I have the ability to do so.
I expected this meritocracy in the financial systems so I started my career there, but I was in for a big surprise. Decentralized governance to me is the key technology to build open, permissionless, and ideally meritocratic systems.
What do you think is the biggest single benefit that comes with integrating and/or replacing the current way personal data is used with blockchain-centric alternatives?
Privacy. This is not just a marketing slogan, but a paradigm shift to how we can use the internet.
The paradox is that while this will allow us to push for a level of privacy we haven’t seen for a decade, at the same time ensuring that more data can be securely shared.
What would you say is going to be the biggest challenge when introducing blockchain technology into traditional data markets and business models?
Similar to every other technology, there needs to be real advantages. When we want to get things adopted we should talk less about the technology and more about the great things that are in it for the ecosystem.
We can make sure that the lifeline of the free internet — which to this day is revenue dollars, go to the bloggers and builders that create the content, and to the apps that we like to read, watch or engage with.
What does the “Free Web” mean to you?
Free means being able to access a treasure trove of content and apps while paying absolutely nothing. The web I got to know meant unlimited access to completely new worlds while paying absolutely no money.
You might say that you do pay but in data and that is true. But if you are not valuable to an advertiser, you can still use the web: The big buyers’ subsidies the poor masses. That is a decent exchange relationship. But as soon as you monopolise this revenue stream, things are no longer in sync. Content, as well as apps, start to get worse and things become very noisy.
The builders and bloggers that make up the free internet are not getting paid. Hence the quality starts worsening and a two-class system evolves — the free version which is a junk place and the paid version for the high-earners. That’s not the internet I want my kids to grow up with.
Which other projects/platforms in the space do you feel are innovating and setting new standards when it comes to data privacy, decentralized identity and monetization?
I remember talking with Fabian (Vogelsteller) about his new identity standard, trying to understand the way that Sovrin approached DIDs and KILT going live after basically three years of research. That’s quite fundamental. On the other hand, we have Ocean pioneering data markets.
I believe Fractal sits right in between and is profiting from both — we are applying a very special DID case to a specific (but huge) data market and changing the way ad-relevant personal data is shared. This wouldn’t be possible without the big leap that Polkadot is providing in terms of transaction throughput and cost.
Being in the DID space wasn’t always fun over the last three years, but it was worth it as the system matured to a level that there now is a unique opportunity. We are in the correct place to start building right away.
If you would like to learn more about Fractal protocol visit our website and join our social channels:
- Telegram:https://t.me/fractal_protocol
- Twitter: https://twitter.com/fractalprtcl
