Podcast Summary
In this podcast, Ilia, the CEO of Near Protocol, discusses the importance of user data sovereignty, the concept of “web3 hat”, and the role of AI models in the Web3 context. He also delves into Near Protocol’s unique features, such as its account abstraction framework, sharding approach, and partnerships with other blockchains. The conversation also touches on the potential of turning user accounts into NFTs and the future of AI in decentralized governance.
Key Takeaways
Near Protocol’s Unique Features
- Account Abstraction Framework: Near Protocol’s account abstraction framework allows for easy onboarding, multiple keys, recovery options, and third-party access. This feature aims to simplify user and developer interactions with different chains.
- Sharding Approach: NEAR’s approach to sharding involves grouping accounts into logical shards and processing transactions on separate physical shards. This design allows for better performance on individual shards and easier addition of new shards as the network grows.
- Partnerships: Near Protocol has partnered with other projects like Polygon, ZKM, and Linea to integrate different chains and offer a seamless user experience.
Turning User Accounts into NFTs
- Monetizing Assets: Near Protocol allows users to sell their accounts as NFTs, including all the assets they hold across different blockchains, on an NFT marketplace. This concept allows users to monetize their assets across different blockchains.
AI in Decentralized Governance
- AI Agents: AI agents can help summarize information, provide context, and facilitate asynchronous communication in decentralized governance. They can overcome the principal-agent problem by focusing solely on optimizing metrics without personal interests or biases.
- Future of AI: The guest envisions an AI President or DAO coordinator that continuously predicts outcomes, evaluates impacts, proposes actions, and manages information in a highly decentralized environment.
Near Protocol’s Vision
- User Data Sovereignty: Near Protocol aims to bring a billion users and has integrated with consumer apps to provide an easy onboarding experience. The goal is to abstract the blockchain for users, eliminating the need for them to install wallets or deal with seed phrases.
- Future Predictions: The guest envisions NEAR having over 100 million monthly active users in two years, with a highly interconnected web3 ecosystem. They predict that in five to ten years, computing itself will be transformed, with software being generated on the fly and interfaces being dynamically created.
Sentiment Analysis
- Bullish: The guest expresses a bullish sentiment towards the future of Near Protocol, predicting a significant increase in its user base and a transformation in computing. They also show optimism about the potential of AI in decentralized governance and the monetization of user accounts through NFTs.
- Neutral: While the guest acknowledges the competition in the blockchain space, they emphasize that each blockchain has its own use cases and that users can choose the parameters that work best for them. This suggests a neutral sentiment towards other blockchains.
