Why and how PIP creates our Peer-to-Peer economy?
The internet disseminates information and knowledge globally and instantly. Nigerians can access the same information as New Yorkers via the web. The internet simply provides a protocol for transmitting information, and social platforms like Facebook and Twitter connect billions of people for sharing information.
However, a new problem has emerged; the concentration of power in social media platforms. A dozen internet companies have dominated the web as the central hub of information where individuals have no control over their data or identity.
The social platforms sustain themselves by providing free services while using individuals as advertisement products. They have played a positive role in connecting billions of people globally but at the expense of individual privacy and digital sovereignty.
With crypto-protocols, we can transmit “monetary value”, much like the internet did with “information”. We can now send currencies, assets, and any digital value without anyone’s permission across the globe. Who else is able to connect billions of people just like social platforms did?
This is why we built PIP. PIP leverages the existing social platforms that already have connected billions of people around the world. PIP connects scalable crypto-protocols like Solana with social platforms like Twitter and Facebook so that billions of people can seamlessly transact value without a single party’s permission or a high intermediary fee.
As opposed to developing a brand-new infrastructure and ecosystem every time a new cryptocurrency is launched, PIP bridges the blockchain world, represented as Web 3.0, and the web 2.0 platforms. PIP can wrap the entire web2 with crypto and potentially onboard billions of people to the web3.
It is this approach that will pave the way for the peer-to-peer economy. You may have heard of the Creator economy where creators can monetize their content via Instagram or Youtube. The issue is that these platforms are all siloed and have their own payment systems, charging up to a fee of 60% on transactions. There is also no interoperability between Twitter, YouTube, and Twitch. PIP is a neutral platform that allows interoperability among social platforms when it comes to crypto activities.
PIP provides three main solutions.
1. Transacting values, such as currencies, assets, or any digital value on top of the existing platforms
2. Linking social identity to crypto-ownership (Prevents stealing arts and selling NFTs as their own)
3. Empowering individuals to monetize their contents on the web
Transacting value on social platforms
As mentioned earlier, If the information protocol (aka the internet) can be combined with the financial protocol (aka the crypto), a new economy would emerge with significant societal value. In developing countries, for example, a family can earn much more than the average family income simply by connecting people through social media. Through PIP, people from all over the world can send tips or pay for tasks to anyone they’re connected to.
Linking social identity
PIP is the link between pseudonymous crypto addresses and social identities. One of the biggest problems in the crypto scene is that it is difficult to avoid fraud since you don’t know who you’re dealing with. For example, someone could take a screenshot of some art images on Instagram and sell them as NFTs. PIP, on the other hand, allows artists to authenticate with a social account and interact with their NFTs on existing social platforms.
Empowering individuals to monetize their content
Anyone can use PIP to monetize their content on existing social platforms. If you’re writing a blog on Medium.com and want to charge people to read it, you can use PIP. On Twitter or Facebook, you can impose a paywall on encrypted posts. This is how a peer-to-peer economy would look. Your mind alone is a source of wealth!
Our mission is to disseminate value around the world in the same way that the internet did with knowledge. We are very excited to present PIP and to fully pursue our mission. Help us improve and connect with us so that we can all change the world for the better.
Find Out More:
- PIP official website: https://www.getpip.com/
- Social Pay: https://www.getpip.com/pip-extension
- PipMe: https ://pip.me
- Pay Button: https://www.getpip.com/pip-button
- Payment link: https://www.getpip.com/payment-links
- Invoice: https://www.getpip.com/invoice
- Checkout: https://www.getpip.com/checkout
