Genfinity recently interviewed the co-founders of Panjea, a blockchain-powered platform focused on empowering content creators. Unlike its counterparts, Panjea incorporates an internal economy where users pay subscription fees and creators contribute to uploading and curating content. Furthermore, the platform redistributes a large percentage of generated value back to its creators.
Leveraging Aleph Zero’s scalability and speed, Panjea ensures robust performance while prioritizing user privacy. Positioned within the Web3 landscape, the platform aims to democratize content creation and consumption by offering a decentralized ecosystem free from centralized control.
With the beta testing phase completed, Aleph Zero users and content creators will soon have the opportunity to explore this pioneering platform! Read further for more details!
Trailblazing Leadership at Panjea: Kieron Bain and Lee Kerr’s Visionary Journey
Kieron Bain has carved out a path as a creative leader within Panjea, leveraging his background in writing, online content production, and music journalism. His journey began with a profound dissatisfaction with existing models that seemed to strip away the inherent value of creative individuals. This discontent fueled the inception of Panjea, a project he had been nurturing for years before finding significant traction.
The project truly gained momentum when Kieron crossed paths with Lee, an expert in cryptocurrency who also joined the interview. Lee’s arrival marked a transformative moment for Panjea, injecting new energy and expertise into their vision.
The Technical Director and Co-Founder of Panjea, Lee Kerr, has immersed himself in cryptocurrency since 2013, a journey that encompassed both its technical aspects and the evolving landscape of social finance. He noted the challenges arising from the early days of social finance, where existing problems from traditional online platforms were amplified rather than resolved through tokenomics.
The initial phase of social finance replicated and exacerbated the flaws of Web2 models,” Lee reflected on those early experiences. However, he noted that the positive responses he’s received during his time at Panjea have been incredibly motivating.
Reflections on Creativity and Content Dynamics in 2024
We inquired about how Kieron’s perspective on creativity in 2024 evolved in relation to other platforms that limit the ability to create meaningful content. Kieron reflected on the evolving landscape of marketing and production, noting its cyclical nature. In his early days in music journalism, the prevailing model often emphasized exposure over monetary compensation. Promoters would entice journalists with concert tickets and drink vouchers, downplaying financial concerns with promises of future benefits from exposure.
Over time, the internet has accelerated this exposure-centric model. Content creators were frequently expected to contribute without direct compensation, their work valued primarily for its potential reach and visibility. However, Kieron noted a significant shift in emphasis. He recounted encountering a video on LinkedIn where a marketer showcased how he leveraged TikTok creators with minimal followings. By repackaging their content and distributing it through their own channels, the marketer successfully grew these creators’ audiences substantially.
This example, Kieron mused, underscored a broader debate: whether success in today’s digital landscape is more about creativity or broadcast. The Co-Founder argued for the latter, highlighting the exponential growth achieved through strategic distribution rather than the inherent quality or uniqueness of content.
As a consequence, Kieron pointed out a troubling trend: the proliferation of content, often driven more by quantity than by quality. Established audiences, once captured, tend to receive a flood of content, not all of which maintains high standards. “The challenge now,” Kieron lamented, “is sifting through this flood to find the truly exceptional content.”
Overall, Kieron has found the shift toward broadcast-driven metrics both intriguing and concerning. While it democratizes access to audiences, it also poses risks to content quality, potentially diluting the overall digital experience.
Genfinity’s CEO, Ryan Solomon, noted the complexities in navigating Web3 social media environments and highlighted concerns around authenticity and content quality in the face of pervasive challenges such as bots and algorithmic biases. Given Lee’s extensive experience in the Web3 space, we asked him how he navigated these complexities and to give his thoughts surrounding the future trajectory of social media platforms.
Lee mused on the evolving challenges within the crypto space, pointing out how it had become markedly more complex over time. He recalled the early days when everyone operated under pseudonyms on forums like Bitcoin Talk, diligently parsing through announcements and white papers on GitHub. During this era, detecting scams and low-quality projects was relatively straightforward due to the transparent nature of information dissemination and the community’s deep engagement with technology and its potential impact.
“Back then, it was easier to distinguish genuine projects from scams,” Lee reminisced. “The community was deeply involved in tech developments, and each market cycle brought more clarity.”
However, Lee noted a significant shift in recent years. He described the current landscape as resembling a casino, where the distinction between legitimate projects and speculative ventures has blurred considerably. While acknowledging the presence of outstanding projects with innovative technology and strong teams, Lee lamented the trend toward tokenomics being leveraged predominantly by corporate interests.
“The problem now is the weaponization of tokenomics by corporate-backed projects,” Lee explained. “These ventures often secure substantial funding from corporate VCs, but the resulting token unlocks and market dynamics overwhelm retail investors.”
Exploring the Evolving Crypto Landscape
The Panjea Co-Founder also highlighted a growing reluctance among investors to engage with projects burdened by massive token unlocks or speculative pressures, fearing potential losses. This shift, he observed, has reduced the emphasis on rigorous research and analysis in favor of speculative investment driven by superficial appeal.
“With the rise of AI and minimal regulatory oversight on scammers, navigating the crypto landscape has become increasingly challenging,” Lee remarked. “Distinguishing genuine opportunities from deceptive schemes now demands meticulous research.”
In essence, Lee painted a picture of a crypto ecosystem that, while still harboring promising innovations, has become fraught with complexities and uncertainties, requiring heightened vigilance and discernment from participants.
AI’s Impact on Intellectual Property and Creativity
During the livestream, we inquired with Kieron about his perspectives on the impact of AI’s ascent and its potential to worsen the ongoing challenges of devaluing intellectual property. Specifically, we were interested in his insights into the future trajectory of AI in this context.
Kieron thought about the transformative impact of AI, particularly in how it affects the recognition and reward of creators in today’s digital landscape. In the past, individuals invested heavily in crafting content for the internet, optimizing it for search engines like Google, which would then direct traffic to their websites. This system, though imperfect, provided a sense of meritocracy where effort and skill were fairly acknowledged.
However, with the advent of chatbots like ChatGPT, Kieron observed a shift. While he appreciates the convenience and effectiveness of obtaining information from these AI models, he expressed concern over the lack of attribution and reward for the creators behind the knowledge generated. “You ask ChatGPT a question,” he remarked, “and it gives you great answers. But it doesn’t tell you where those great answers have come from.”
AI’s Influence on Creative Commodification and Regulation
Furthermore, Kieron likened large language models (LLMs) to sophisticated content scrapers rather than true creative entities. “They’re very good at predicting based on tons of similar media,” he explained, drawing a parallel to bees’ ability to navigate based on familiar surroundings. “But it’s not the same as human creativity,” he emphasized. He cautioned against the misconception that LLMs are sentient or truly intelligent, suggesting instead that they excel at pattern recognition and replication.
In his view, the danger lies in how these technologies devalue human creativity by commodifying content without adequately compensating its originators. “The internet,” he mused, “has become a machine designed to extract value from creativity.” He highlighted AI’s role in exacerbating this trend, suggesting that without a shift in how these technologies are perceived and regulated, the situation could worsen.
Reflecting on the future, Kieron saw AI’s influence continuing to grow. “AI is…” he paused, “an evolving force that demands thoughtful consideration and proactive measures to safeguard creative integrity and recognition in the digital age.”
Implementing Meaningful Social Changes and Encouraging Adoption on the Panjea Platform
We were curious regarding the approach around social finance and economic structures in relation to the original ethos of the internet. Specifically, we asked how the Panjea platform implements these changes meaningfully and encourages widespread adoption.
Lee reflected on his experience with Steemit, a blockchain-powered platform akin to Reddit but with its own unique incentives and challenges. Initially, he found success in a system where users powered up their accounts to gain voting weight, thereby discouraging cashing out to maintain influence. However, despite the eventual hyperinflation and other shortcomings, Lee saw Steemit’s early days as a liberating period from traditional advertising models and corporate sponsorship.
For Lee, Steemit represented a departure from the pervasive advertising model. “You saw brilliant creativity,” he recalled. Lee himself ventured into creating a motocross club, designing kits, graphics, and participating in races — all funded through his earnings on Steemit. Others on the platform showcased equally innovative projects, like a life-size blue whale in a Norwegian harbor that sprayed water when funded, demonstrating a level of creativity rarely seen in today’s commercialized content landscape.
Conversely, Lee also lamented the current state of online content, dominated by sponsorships and product placements that overshadow genuine creativity. “Everyone’s stuck in the middle, selling something,” he remarked. This shift undermines authenticity and stifles true creative expression.
Safeguarding Creativity and Authenticity: Panjea’s Innovative Solutions
In response to these issues, Lee noted that Panjea addresses these concerns with innovative solutions. One key feature is “Proof of Life,” an encrypted form of KYC (Know Your Customer) that verifies human interaction, mitigating the rampant bot usage that plagued platforms like Steemit. Panjea’s subscription model and walled-garden approach aim to foster a community where content creators are rewarded solely for their creativity, free from the pressures of advertising.
“In this environment,” Lee emphasized, “there’s no need for fake news or promoting products.” Instead, Panjea enables creators to thrive creatively in a manner reminiscent of earlier internet freedoms before commercial interests took over.
Looking ahead, Lee envisioned a digital landscape where platforms prioritize authenticity and creative integrity, fostering environments where genuine human interaction and creativity can flourish once more.
Redefining Digital Interaction: Panjea’s Vision to Challenge Hype-Driven Content and Foster Community Creativity
Kieron, considering Lee’s insights during their interview, articulated a critical perspective on the current state of the internet. He observed a pervasive trend where everything online seems to function as an advertisement, much like the ubiquitous “In God, we trust” motto on the US dollar, replaced in the digital realm by his personal anecdote: “In hype, we trust.” Furthermore, the Co-Founder pointed out that within the crypto industry, this hype often becomes the primary metric for valuing content and projects, reducing much of the discourse to promotional materials.
Moreover, Kieron observed that within the realm of crypto, every piece of content seems to serve as an advertisement fueled by hype. This realization sparked deep contemplation on how Panjea could potentially disrupt this trend. Kieron posed a critical question: How could Panjea reshape this landscape?
“This is the million-dollar question,” Kieron acknowledged. He expressed a belief that creating the right conditions would naturally attract those seeking a different kind of internet. The core vision behind Panjea, he emphasized, was to offer an alternative platform where the community plays a central role in shaping its evolution.
Expanding on Lee’s perspective, Kieron recalled their conversations where Lee cautioned against imposing a predetermined vision on Panjea. “Lee often reminds me,” Kieron shared, “that our role isn’t to dictate how people should use Panjea. Instead, we aim to foster a space where the community can carve out its own path.”
“Furthermore,” Kieron continued, “Panjea aims to depart from traditional top-down models, challenging the very hierarchical structures it seeks to disrupt.” By empowering users to define their digital environment and establish their own rules, Panjea aims to stimulate experimental creativity. “When creativity takes precedence,” Kieron asserted, “its value is directly recognized and rewarded to the creators, notably through tokens.”
In essence, Kieron envisioned Panjea not merely as a platform but as a community-driven experiment poised to redefine the future of the internet. Central to this vision is placing creativity and its intrinsic value at the forefront of digital interaction.
Steering the Economic Realities: Panjea’s Mission and Economic Sustainability
Lee pointed out the stark reality of the current internet landscape, noting how even successful content creators on platforms like YouTube and Spotify struggle to earn a sustainable income. “They’ve all got Patreon accounts,” he remarked, highlighting the prevalence of additional revenue streams as essential for making ends meet.
Turning to Panjea, Lee emphasized their dual mission. “We’re not just creating a safe space free from the advertising model and corporate dominance,” he explained. “It’s about ensuring that users don’t have to resort to constant selling to sustain themselves.” Lee underscored Panjea’s economic model, where rewards are intrinsic to participation, and excess funds are systematically burned to maintain a manageable supply. This approach contrasts sharply with the prevalent practice of indiscriminate coin distributions through airdrops.
“In essence,” Lee concluded, “Panjea aims to foster an environment where economic sustainability and creative freedom go hand in hand, setting it apart from the unsustainable dynamics seen elsewhere in the digital realm.”
Addressing Long-standing Issues in Digital Platforms
Additionally, Lee emphasized that when discussing current platforms with users, one clear sentiment emerged: relief that someone is finally addressing long-standing issues. “People know the problems,” he recalled from their conversations. “They live with them daily, but solutions are scarce. New social platforms emerge, yet they often replicate the same pitfalls — battling bots and limited visibility unless you’re in the top echelons.”
Moreover, Lee noted a troubling trend of Web2 platforms masquerading as innovative solutions, merely transferring existing issues to new environments. Despite these challenges, Lee found that everyday users showed significant receptiveness to Panjea’s concept. “The challenge lies in reaching enough people to ignite real change,” he reflected, highlighting the importance of widespread adoption to foster a movement toward a more equitable digital landscape.
Revolutionizing Digital Content: Panjea’s Vision and Impact on Blockchain and DLT Spaces
Ryan Solomon, the CEO of Genfinity, highlighted the challenges faced by newcomers entering blockchain and DLT spaces, particularly on platforms like Twitter (X.com), where superficial metrics often mislead. He noted the prevalent issue of associating high follower counts and engagement with expertise despite many instances where these metrics are inflated artificially. This discrepancy highlights a broader problem where authentic content creators struggle for visibility amidst those who exploit bots for inflated metrics. Notably, Ryan believes that initiatives like Panjea, focusing on authenticity and genuine value, could potentially revolutionize the digital content landscape by empowering human judgment over artificial metrics, potentially leveling the playing field for content creators who provide real value to their audiences.
Overall, Lee agreed with our sentiments. He recounted the myriad issues plaguing platforms like Steemit, where voting dynamics often favored those with larger holdings, perpetuating a toxic atmosphere of competition and jealousy. He described how users would strategically downvote competitors to diminish their rewards, fostering a hostile environment devoid of genuine interaction or rapport-building.
Additionally, the Panjea Co-Founder highlighted the centralized control exhibited when Justin Sun acquired Steemit’s tokens, illustrating the platform’s vulnerability to external influence. This prompted the creation of Hive, albeit with similar issues persisting post-fork.
Transitioning to Panjea, Lee outlined their solution: implementing the Proof of Life feature to prevent bot manipulation, ensuring each user’s authenticity through cryptographic verification. Panjea’s model revolves around rewarding content consumption directly — every view contributes to creators’ earnings without requiring monetary transactions or competitive voting dynamics. Lee envisioned this approach fostering a healthier content ecosystem where attention, not arbitrary votes, dictates rewards, ultimately encouraging more diverse content consumption without toxic incentives.
Panjea’s Vision: Ownership, Content Portability, and Decentralization in the Digital Realm
Kieron reflected on Lee’s point about ownership, emphasizing Panjea’s unique approach to the Proof of Life system not merely as KYC but as a statement of ownership over one’s content in the digital realm. He emphasized that Panjea operates on a community-owned basis, where every user retains ownership of their contributions, forming the essence of the platform.
Moreover, Kieron contrasted Panjea with platforms like Coil, highlighting issues with content portability across different Coil sites due to their plugin-based structure. In contrast, Panjea adopts Tim Berners-Lee’s original internet model, employing a nodal network where content can seamlessly link to any other, facilitating organic navigation. Significantly, this approach aims to transcend algorithm-driven recommendations that often recycle familiar content, instead allowing creators to curate meaningful connections that educate, empower, and inform users autonomously.
Additionally, the Co-Founder mused on the evolution of the internet, tracing its origins from a hobbyist-driven endeavor by radio and CB radio enthusiasts to its current state infiltrated by centralized control driven by financial interests. He drew parallels with blockchain technology, initially conceived in 2008 as a response to financial crises caused by collateralized debt obligations lacking intrinsic value.
Expressing concern over blockchain’s current trajectory, he noted its current adoption by corporations seeking to integrate it into existing financial systems rather than fostering true decentralization. He posed a provocative question about redirecting blockchain’s potential away from reinforcing established financial structures toward genuinely disrupting centralized power dynamics. Emphasizing the need for pragmatic decentralization that incorporates financial realities, Kieron envisioned a future where blockchain technology could authentically challenge and reshape conventional power structures.
The Panjea Platform: Integration, Simplicity, and Governance in a Decentralized Framework
During our livestream, we reviewed the Panjea website with both co-creators. Lee highlighted that one of the key benefits of their platform is its seamless integration into everyday use, resembling a conventional website. He also noted the importance of simplicity, stating that interacting with it should feel effortless and intuitive. Lee pointed out that being on the blockchain is merely a natural consequence, ensuring decentralization and resistance to control or censorship.
Unlike large corporations such as Facebook, the Panjea platform does not seek to dictate user actions or content creation. Instead, the blockchain aspect is incidental, chosen for its technological advantages rather than for imposing restrictions. Lee’s stance shows a commitment to user autonomy and ease of use, where the technology serves as a supportive backbone rather than a barrier.
Kieron reiterated that Panjea’s organizational structure draws inspiration from Tim Berners-Lee’s nodal network concept. To enhance navigation within this decentralized framework, Panjea incorporates category nodes. Notably, these nodes serve as entry points to various thematic sections of the platform. For instance, users interested in cars can access the dedicated car node to discover and engage with related content. Kieron emphasized that this approach facilitates intuitive exploration and enhances user experience by ensuring relevant content is easily accessible within Panjea’s decentralized architecture.
Jumping in, Lee outlined the future direction of Panjea, highlighting the incorporation of governance as a fundamental aspect of the platform’s evolution. Unlike traditional models where substantial coin holdings confer significant influence, Panjea adopts a democratic approach. Significantly, every subscriber will hold an equal vote, ensuring no individual wields disproportionate power. Changes and additions to the platform, such as Gateway nodes, will be decided through this inclusive governance process, illuminating Panjea’s commitment to community-driven development and equitable decision-making.
Kieron elaborated on Panjea’s developmental journey, emphasizing the initial phase focused on equipping users with intuitive tools to engage with the platform seamlessly. He underscored the flexibility inherent in Panjea, where user feedback and evolving preferences can drive substantial changes in content structuring and interaction methods.
Highlighting the three-year effort culminating in a fully functional minimum viable product, he expressed awe at the platform’s capability to seamlessly distribute test tokens based on user activity. Recalling a pivotal moment of realization upon logging in to find tokens rewarded for posted content, he discussed the efficacy of Panjea’s token distribution mechanism from the emission pool.
The Creative Director and Co-Founder dove deeper into Panjea’s underlying structure, introducing the concept of “vectors” to illustrate how content connections are more than mere links. Essentially, vectors embody varying strengths based on user interactions. In his vision, these vectors empower users to enhance linkages between pieces of content, thereby influencing navigation options within the platform. Using a hypothetical example involving Lee’s news story and Solomon’s corroborating video, Kieron illustrated how users can curate and strengthen these connections, earning rewards for facilitating valuable content associations.
Moreover, Lee pointed out that users have the autonomy to link and contextualize content based on relevance without being constrained by profit-driven algorithms like those on YouTube. This decentralized approach allows the community to organically structure the network, promoting innovation and uniqueness in content presentation and interaction.
Looking forward, Kieron envisions Panjea evolving into a three-dimensional browsing experience, where users can navigate a virtual content universe in VR. This futuristic concept aims to enhance user engagement by seamlessly visualizing and exploring intricate content connections.
Panjea’s Enhanced User Experience and Engagement Features
Panjea’s functionality spans several key features aimed at enhancing user experience and engagement. Firstly, the platform includes a comprehensive dashboard featuring a user profile and wallet, offering a private space for users to manage their earnings and content updates. Additionally, the dashboard integrates messaging and direct messaging capabilities, enhancing communication among users.
Notably, Panjea will incorporate incentivized liquidity pools from launch, providing users the opportunity to earn additional rewards by participating in these pools during the network’s initial phase. Furthermore, their governance model ensures fairness by basing voting rights on subscriptions rather than wealth, thereby democratizing decision-making processes. This approach underscores Panjea’s commitment to inclusivity and equitable participation. Moreover, the platform’s Proof of Life functionality, serving as a form of KYC, ensures each user maintains one wallet and an equal vote, reinforcing transparency and trust within the community.
Panjea Enters New Phase with Aleph Zero
Kieron expressed his enthusiasm as Panjea concluded its closed beta testing phase, reflecting on the positive experience during the show. The Co-Founder highlighted a significant milestone for Panjea, announcing the introduction of their first cohort of third-party users from the Aleph Zero community, who will commence using the platform as a test audience starting next Wednesday, July 3rd. He also encouraged individuals interested in joining Panjea to create content as part of their test audience to apply through an upcoming application process.
Acknowledging the current state with a few remaining bugs, Kieron highlighted Panjea’s functional content reward system and anticipated improvements to the linking system. Overall, he noted a distinct feel reminiscent of the internet’s earlier days, showing the platform’s progress and promising future.
Lee expressed his enthusiasm for disruptive technologies, like Panjea, that serve a genuine purpose, distinguishing them from the vast amount of speculative cryptocurrencies that merely replicate digital asset transfers. He emphasized the opportunity presented by these technologies to challenge corporate dominance, allowing everyday individuals to reshape the world according to their vision. He additionally underscored the importance of supporting projects that align with these values, urging against investments in Ponzi schemes or pump-and-dump schemes. Instead, he advocated for leveraging crypto’s disruptive potential authentically and supporting genuine innovations in the field.
Panjea’s Visionary Path Forward
Genfinity’s interview with the co-founders of Panjea unveils a visionary platform at the intersection of blockchain technology and content creation. Unlike traditional models, Panjea introduces a decentralized economy where subscription fees and content contributions directly benefit creators, redistributing the majority of generated value back to them.
Leveraging Aleph Zero’s robust infrastructure, Panjea ensures scalability and privacy, aiming to democratize content creation free from centralized control within the Web3 landscape. Stay tuned to our Twitter page and website for more information as this project unfolds!
*Disclaimer: News content provided by Genfinity is intended solely for informational purposes. While we strive to deliver accurate and up-to-date information, we do not offer financial or legal advice of any kind. Readers are encouraged to conduct their own research and consult with qualified professionals before making any financial or legal decisions. Genfinity disclaims any responsibility for actions taken based on the information presented in our articles. Our commitment is to share knowledge, foster discussion, and contribute to a better understanding of the topics covered in our articles. We advise our readers to exercise caution and diligence when seeking information or making decisions based on the content we provide.
