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October 13, 2021

Building OnlyFans on Blockchains – Unexplored Opportunities and Challenges – Dfinity CEO

Dfinity explains that the decentralized platform is needed because financial institutions attempted to censor adult content on Onlyfans.

Dominic Williams believes that OnlyFans platforms are ripe for disruption nowadays, that decentralized technologies are becoming mainstream.

Even he’s inviting developers to build blockchain-driven content on the internet- he also launched a robust general-purpose blockchain this year.

In a recent interview, William discusses the censorship of adult content on Onlyfans and sharing views on innovative contract platforms.

Decentralization is the Best Way to Achieve by Creator-Driven Platforms

In August, many financial institutions like the Bank of New York Mellon, Metro Bank, and JPMorgan forced Onlyfans to ban adult content on its platform. In a recent interview with Financial Times, Tim Stokely said that he had no choice but to heed bank demand as his company has become known for its sexual content creation. (As banks threatened to cut ties with Onlyfans, they damaged their reputation by making adultery content).

It’s considering that Stokely would reverse his decision to ban adultery content after receiving assurance, it sparked a public debate about censorship. While Dominic William said, OnlyFans are performing a case study on why adultery content creation platforms need decentralization.

William also said that these threats are not only from banks; however, IT companies are also standing by them:

“It is also possible that any traditional IT company could censor Onlyfans if it uses or runs its IT services. Like cloud services and data centers. However, Amazon Web services have already switched off the Parler social network.”

Blockchain can solve this problem through decentralization.

“This can be possible if blockchain can increase their value by running a code that is not easy to stop so it can create a system in this way that’s more combative to censorship by third parties.”

Not every blockchain can provide censorship resistance due to decentralized apps that still rely on IT to function. It’s difficult for them to control a large amount of user content, so that happens. Even they are unable to serve interactive web content directly to users. So, it suggested builders add a cloud or private server to their Dapps, he said.

Dfinity Grants Program Open to Fresh Ideas

OnlyFans builders are always encouraged to build decentralized versions on internet computers by Williams. He praised a Dfinity institution’s 250-million-dollar grant program as a good starting point and applauded launching such new ideas. Over 80 projects have already been funded under this grant program to help teams build on internet computers.

However, he also stated that people have already built chat and game services entirely running on the internet computer blockchain. Open chat services are growing rapidly and already have millions of users. There are already over 1.2 million Internet Identity handles.”

Ethereum won’t be obsolete by internet computers.

Many investors are speculated by “Ethereum Killer” whether it will take the mantle from the dominant innovative contract platform or not. However, William admitted that as we know, Ethereum didn’t obsolete bitcoin, just as ICP is unlikely to squash Ethereum in the long run.

William hopes Ethereum will integrate with the internet computer and become a source of inspiration for Ethereum developers.

Internet Computer Blockchain currently ranks 23rd as a term of market capitalization. However, ICP crypto is hovering over $8.5 billion. Therefore, the Ethereum market capitalization stands at $424.8 billion presently.

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