Opinion: friend.tech lacks decentralization and privacy, not real SocialFi

Author: francesco, encrypted KOL

Compiled by: Felix, PANews

The market is actually very eager to find new SocialFi applications to replace X (formerly Twitter) or other applications. But why is the new project friend.tech not the SocialFi app the market needs. The following is the reason given by crypto KOL francesco.

1. A real SocialFi should start from the bottom up and not be promoted by KOL

True SocialFi will be decentralized and open to all. While friend.tech’s marketing technique is very successful and clearly works for fans, it’s just another way for KOLs to feel good about themselves and dump fans.

2. The mode is controversial

Do you really want to buy KOL tokens?

Is there really no other channel of direct communication?

Is this the best model?

These issues are all contentious.

3. Hype arouses suspicion

The timing of a friend.tech launch often determines the success of an app. The low volatility of the market, the launch of Base, and the lack of interesting narratives in the market are the perfect combination of the three. Still, is Base the best ecosystem for publishing apps? Or just the best place to hype?

4. Does not reflect the spirit of encryption and privacy

friend.tech is mining users’ X (formerly Twitter) accounts and social connections. The authors see this as a clear red flag, lacking a clear privacy policy.

friend.tech needs to log in with the user’s email to connect to the user’s twitter, which is a bit strange. Because just a few years ago, an encrypted SocialFi application without a privacy policy would cause public complaints and doubts.

KOLs definitely don’t care about these, they only care about making money or expanding their influence. In fact, the reason why you joined friend.tech may be that your favorite KOL shared an invitation code to invite you to join, so that KOL can see their account tokens rise.

friend.tech actually relies on very simple human psychology and emotions.

5. App sucks

Honestly, friend.tech is one of the worst apps ever, buggy and slow.

Summarize

The author believes that friend.tech is a Web3 Trojan masquerading as an encrypted application. friend.tech will only benefit KOLs. Also, friend.tech does not reflect the spirit of encryption, and the project has no plans to perfect this aspect, and honestly, users have gradually become numb to the point of not questioning this anymore. Users should not provide Twitter and personal information to an immature platform to cultivate social relationships.

To become the next SocialFi application, it needs to provide sufficient privacy protection, openness and decentralization. As it stands, friend.tech is an interesting project to monetize attention and fans, another way to capitalize its influence, and a way to make money from retail investors.

Related reading: Social app Friend.tech is hot, how are individual stocks priced?