Throughout the podcast, Rogan and Jennings went back and forth on the Alex Jones situation, sharing the general sentiment that Facebook, YouTube, and Twitter should not have banned Jones, disallowing free speech.
“There is this thing called Peepeth, it’s a Twitter alternative, it’s just starting. It’s kind of like Twitter but it’s built on the back of Ethereum and so every Tweet or every message you send on it is embedded in the blockchain of Ethereum,” Jennings said.
Merit of Decentralized Systems
As with any decentralized application (dApp), users on the blockchain cannot reverse or alter data that is included in a block, whether it is a transaction or a unique type of information processed using smart contracts.
Jennings explained that decentralized systems are uniquely important as they allow individuals to initiate activities that are not monitored or restricted by a central authority, unlike most existing platforms.
“You can’t delete anything because it is permanently embedded into the blockchain. I think up to 10 of your messages can be logged in one block of the Ethereum chain so you have to pay a cent of it, they give you some to begin with, and when somebody messages you, it’s kind of like a microtransaction to you, so you have this kind of balance.
It sounds complicated but it’s cool. I don’t know if it will become the next rage but it is technologically really fun.”
While Jennings discussed Peepeth as the main example for dApps and decentralized systems, the merit of distributed networks is abundantly clear. Bitcoin as a consensus currency can enable the unbanked in regions with poor infrastructures and dApps on Ethereum can allow individuals to utilize platforms like social media and live streaming apps without third party service providers.
The conflict between Turkey and America, which resulted in the Turkish lira falling by more than 50 percent in value, has shown the advantage of decentralized systems in general and the potential of the blockchain to serve as an alternative system to all of the centralized systems in existence.
In Venezuela, Bitcoin and other major cryptocurrencies have started to become the main payment method for households, professionals, and students, because of the controversial decision of President Nicolas Maduro to devalue the national currency bolivar by 95 percent overnight.
Exposure on major platforms like the JRE podcast is a step towards mainstream adoption for dApps and achieving a broader consumer base.
But, as Gnosis creator Martin Köppelmann said, in order for public blockchain projects like Ethereum and dApps to reach true decentralization and adoption, decentralized systems will need to depend on each other to create unique products and services.
“The numbers we care about is the usage of decentralized applications. And as a next step, the number to look out for is DAPPs that seamlessly interact with each other and draw a benefit from being on the same platform. As a side effect, ultimately the price of ETH will then be a function of the demand for the use of applications in this reliable, open, and interlinked environment,” he said.
The immutable, anti-censorship, and decentralized nature of the blockchain have already started to appeal to the general public, in light of recent events like the Facebook scandal and the Alex Jones controversy.