Ep. 74 Beyond Brick and Mortar: How Blockchain is Shaping the Future of Shopping
34m | Apr 30, 2024In this episode of Real Talk NFT, we welcomed Justin Banon, co-founder of Boson Protocol, a cutting-edge platform aimed at reshaping commerce within the Web3 space. Justin shared his perspective on a trend where mainstream brands superficially adopt blockchain technology without embracing its core principles. He argued that many brands use NFTs just as a new type of file format or impose traditional Web2 business models on Web3 innovations, which fundamentally undermines the decentralized ethos of Web3.
During our discussion, Justin elaborated on how Boson Protocol offers a decentralized commerce layer that enables the exchange of physical goods through digital means without the need for intermediaries. This is achieved by utilizing redeemable NFTs (rNFTs), which act like forward contracts within smart contracts. Boson Protocol uses a combination of game theory and decentralized governance to manage and incentivize operations within its ecosystem.
Boson Protocol is not just about technological innovation; it's also about fostering a genuine Web3 community that brings significant benefits to its members and provides a competitive edge in the market. He emphasized the importance of moving towards true decentralization to avoid the obsolescence faced by brands that fail to adapt.
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