Proof of Effort: Putting Effort Over Results
At Po.et, we’re paving a two-way street; the opportunity to leverage Po.et’s technology on-platform and off- as well. We are building a web of interoperability, a web of collaboration. And many in this space agree, which is why this isn’t a rat race to the bottom, it’s a cooperative climb to the top. We win when we all get there. And the early foundations of Po.et will be the stepping stones not just for our marketplace and reputation signals, but for many who are building on Web 3.0 at large.
We believe in transparency. That’s why we’re building on a blockchain and that’s why the incentives tied to crypto economics are critical to its overall success. But you don’t NEED a blockchain for transparency — this is true. However, we do NEED a blockchain for dynamics tied to transparency in order to reveal a decentralized consensus on information. What does a universal immutable ledger of all of the world’s information look like? How do we move beyond basic categorical means to find the most informative and most important? That is driven by decentralized transparency that moves towards the overall notion of reputation. But how do we measure that?
Today, many question what is true and what is not true. This isn’t something that’s necessarily great for society, especially for the media and journalism business, but it’s the world we live in. Now, more than ever, it’s important to have third-party verification for transparency to expose the information behind the information. We are no longer comfortable letting the fox guard the henhouse and those who practice ethical creative standards believe in working toward a transparent system that shows not just the results of their work, but the effort that they put into it. There is much we can learn from these standards, and build a system of exposure based on this set of criteria that is exposed to consumers. How can we, together, build a default list of behaviors that is exposed to a consumer in order to reveal the ingredients that go into a work? It’s not black and white. But like everything else we consume, the more information around its components the better.
This is what we’re building at Po.et; the nutritional label for the web.
We want to put value back on the effort and not the results. In media specifically, the definition of success is predominantly on the results. How viral did a story go? Did it drive acquisitions? Did a consumer come in through this story and go elsewhere? However, the value of the creator and the brand is the reason why a consumer engages a work in the first place. The very thing we can’t yet identify and reveal is the real value of a work. So what are the key components that would help reveal the efforts and value that go into a work? This can be a written word, or a piece of music or art; basically, anything valued and tied to a creator’s IP. I asked Twitter what it thought some signals should be as it pertains to journalism and the responses were interesting.
Some recommendations included:
1) Time spent
2) Number of sources
3) Fact check/accuracy percentage
4) Number of verified source claims
5) Hosting brand and URL
8) Author & Author History
You can see the entirety of the conversation here:
What’s clear is that we know that there is value in a creator’s work. And we recognize what “premium” is but we, as consumers, don’t actually see what “premium” is. What if there was a way to expose the efforts in premium and put the value on that input instead of the output?
Premium is what happens before a creator hits publish.
As you know, we have spent the past few months building toward mainnet and updating features to support attribution, claim types, search and discovery and more. You can dive deeper into Eric’s update here:
July 2018 Po.et Engineering Progress Report
Po.et is the internet of content value: the decentralized protocol suite for ownership, discovery, and monetization of…
These protocol-level implementations will enable creators of every capacity to leverage the products being built on the Po.et platform as well as those companies leveraging the protocol for their own operations in different sectors of the space. These features will benefit consumers in a variety of ways but the biggest component of the works will be its effort and utility toward reputation. How can we drive beyond a web of recency and relevancy and into the new world of reputation? I obsess over this, and to save us all time I’ll just link to the latest blog post coverage of our development of a bridge to a better web:
Building the Bridge to a Better Web
In the blockchain space, it’s the quietest projects that competitors should be most concerned about. Especially now…
What else? We’re rounding out alpha partnerships and edging closer toward a mainnet release. We spent the last three weeks in Nashville, San Francisco, Philadelphia and Washington D.C. meeting with top media and agency executives about Po.et. We’re keynoting Turner Broadcasting’s executive event on blockchain technology today, joining Comcast’s Techstars Mentorship on Friday and finalizing plans for the alpha partners next week.
As always, please follow our progress on GitHub, Telegram, Twitter and everywhere else. We’re screaming from the rafters so you all can hear us.