An Introduction to Privi: A decentralized social finance network

PRIVI Protocol
Feb 4 · 4 min read

Blockchain technology exploded onto the scene a decade ago, but just because we have discovered fire, does not mean we know how to control it.

This narrative will change in the 2020s. For two main reasons:

  1. Social networks are outdated, with decentralized social networks, thousands of millionaires will be minted as opposed to a handful of billionaires (…looking at you Facebook). It will begin with creators (the lifeblood of any social network), who will slowly realize they are getting a poor deal despite putting in the work that actually makes these networks worthwhile. The decentralized nature of blockchain-based social networks allows creators to make more money and have greater control of their original content. Where creators go, followers follow.
  2. Financial markets are outdated, with blockchain, globalized finance becomes decentralized, resulting in a more accessible and secure financial system. Think about the recent fiasco with r/wallstreetbets and Robinhood’s response. It crystallized that centralized financial institutions disproportionately benefit the elite over the rest of us. Slowly, we will realize this and move to decentralized financial networks.

To reach the panacea of having blockchain-based social and financial networks, two things need to come together:

  1. A system that is better than competing and winning in the old system. Google was better than being an expert in the Yellow Pages, being a newbie iPhone user was better than being a veteran Blackberry user. People need to win at blockchain just by existing in it.
  2. Simplicity. Blockchain in general is unapproachable to the everyday user. It needs to be easy enough that your grandma could use it.

If both occur in concert with each other, humanity will adopt blockchain.

We think it will happen in the 2020s. And Privi can get us there 🚀

What is Privi?

Privi is a decentralized social finance platform that allows you to create your own customizable network. We provide numerous features and applications, which require no technical or financial skills. We group them into three suites of technologies:

  1. Privi Communities

a. Self-governed 🗳️(DAOs)

b. Customizable (decentralized No Code feature/app marketplace)

c. Mint & distribute community tokens to enter the community or view content

2. Privi Pods

a. Create and trade alternate assets, such as:

b. Digital assets or goods (Digital NFTs)

c. Physical assets or goods (Physical NFTs)

3. DeFi Toolkit

a. Crypto Wallet

b. Liquidity Pools

c. Indexes

d. Insurance Pools

e. Credit Pools

f. Second by second crypto streaming

This DeFi toolkit creates an end-to-end crypto ecosystem, allowing you to actually utilize your tokenized assets without needing to leave the platform.

Now, let’s put these features into a real-world scenario.

You log in to Privi for the first time, and you start by searching through the plethora of unique communities. Each community looks and behaves differently, as each serves a different purpose.

You curate a homepage of communities just for you. Maybe some communities are audio rooms discussing bitcoin, video rooms with fitness coaches, or a travel community discussing the future remote work in a post-Covid-19 era.

You own Community Tokens of each one of these unique spaces. The travel community requires you to own them to enter, in the bitcoin audio rooms you can pay by the second with crypto streaming, and the video rooms require you to hold a certain amount of community tokens to unlock different videos.

Now let’s dive into how you, as a community member, are able to decide how the community operates, and determine the content it produces.

Let’s say one of the admins in the fitness community creates a vote:

“What should my next wellness video be about?”

You vote for ‘Yoga in Tulum,’ which wins.

The fitness admin shares a Digital NFT Pod with the community for that specific video, and you purchase token ownership of that video, which you can trade or hold for returns. Owning this Pod token also gives you free access to the next 3 videos created by the fitness coach.

Now that your interest in Pod Tokens thoroughly peaked, you go search for other Pods. You find a Physical NFT Pod called Greek Property Rentals that is underwritten by an Insurance Pool. So you’re confident, and you buy some Physical NFT Pod Tokens. You hold these for frequent interest.

But as you continue to browse, you might just find yourself a *tad* overwhelmed. Because there are 1,000s of Pod Tokens. How can you find the best ones? So you pop over to Indexes and invest in a user that has a fund that tracks Bitcoin, Fitness Community Tokens, Property NFTs, and Digital NFTs.

All the while, on your profile, you select “Open to Advertising,” which tells the blockchain that you are open to sharing your data. Now, you see advertisements in Communities, Pods, and Pools, but every time you view the ad, or convert, you receive crypto paid directly to you from the advertiser.

You can’t get enough. You tell everyone you know about Privi.

You own Privi Coin, and stake it in Privi Governance to vote on the direction of the entire network. And as the network grows, you profit as a Privi token holder.

Welcome to the Roaring 20’s. Welcome to Privi.

→ What are you waiting for? We’re coming soon to Testnet, so make sure you jump on our waitlist here.

PRIVI

The decetnralized social finance network

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