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Shaping the Creator Economy with Panjea. Podcast Key Takeaways

Nov 22, 2023

In the Aleph Zero Podcast episode, we meet Kieron Bain and Lee Kerr to discuss Panjea, a novel creator-focused social media platform currently being developed on the Aleph Zero network.

TL;DR

Too long, didn’t listen

  • Panjea is being created on the Aleph Zero blockchain as an antidote to the prevailing business model that social media platforms currently employ. 
  • The creators of Panjea want to prioritize those who produce content and give them a platform on which they are fairly paid for their work. 
  • Current social media platforms are designed to promote echo chambers and serve as a way for owners of these websites to trade users’ private data with third parties. 
  • The present social media landscape also leaves creators dependent on the algorithm and the fickle nature of social media trends, resulting in artists being forced to mass-produce content that leaves them burnt out. 
  • One innovation that Panjea wishes to introduce is a KYC process dubbed “Proof-of-life” that aims to eliminate the problem of bots that have become prevalent in online interactions. 
  • Users will employ a private smart contract to verify their physical existence without divulging any sensitive information about themselves. 
  • The creators of Panjea see their product as a way to bring Web3 products to the masses, as it allows users to employ the service without being required to know anything about Web3. 
  • Creators will be paid for their work through the platform’s native token named PANJ

There Is an Appetite for Web3 Social Media 

Panjea is one of the most popular projects currently under development in the Aleph Zero ecosystem. It is designed as a Web3 social media platform that prioritizes creators and average users over advertisers and website owners. Throughout the duration of the podcast episode, we meet with Kieron Bain (Creative Director) and Lee Kerr (Technical Director), who explain the concept behind Panjea. Their experience in creative fields has led them to conclude that the current model employed by social media platforms has countless negative effects on creators and users. They have identified that the algorithms governing platforms have resulted in users being huddled into hermetic groups in which the free transfer of ideas is not practiced, and creators are forced to compete with each other in increasingly toxic ways to continue being relevant by churning out endless streams of content. This results in an alienating, unhealthy atmosphere. 

To combat this, Panjea aims to give content creators more freedom and remove the shackles of the algorithms to create without pressure. Kieron and Lee believe that creators should be rewarded fairly for their work. The subscription users will pay to use Panjea, which will help ensure the high quality of curated content and will be used to pay the content creators through the platform’s native token called PANJ. 

Panjea’s Proof-Of-Life

Another issue plaguing current social media platforms is the amount of bots interacting with legitimate users. Panjea has been consulting with Aleph Zero partners such as Fractal, Gatenox, and AZERO to combat these practices.ID to provide a service known as “Proof-of-life” that will use private smart contracts to verify users’ credentials on the platform to ensure that users will be safe from bots. 

Kieron and Lee believe that crypto’s biggest hurdle is introducing a product that truly is desired by the masses, one that does not require users to be Web3 literate. An easy-to-use social media platform that prioritizes creators over advertisers may be the key to this challenge.

Be sure to follow Panjea on their journey–we’ll catch up with them in another Podcast episode as the development progresses!

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