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- 1 If successful, Five Pillars could accelerate Web3 communication for billions.
- 2 Aiming to be an on-ramp for the next generation of users.
- 3 The Five Pillars refer to Identity, communication, community, currency, and creation.
Five Pillars is an ambitious startup aiming to accelerate the mainstream adoption of Web3 communication tools and services. The broader vision is leveraging decentralization to give people more control, privacy, and security in online interactions. To achieve this, Five Pillars is building a product suite around five key pillars – identity, communication, community, currency, and creation.
1 Identity
Central to the Five Pillars approach is decentralizing digital identity. Users will have full control over their identities and data on the platform, thereby eliminating reliance on centralized providers. Blockchain-based decentralized identifiers will enable pseudonymity while preserving privacy. Zero-knowledge proofs and encryption provide security. This represents a major upgrade from the status quo, where tech giants like Facebook and Google control tremendous amounts of user data and identity. Handing over that power is no longer necessary in a Web3 world.
2 Communication
Another core pillar is enabling truly decentralized, secure communication. Five Pillars apps will facilitate private, encrypted messaging between individuals and groups. Features like audio calls, video chat, and file sharing aim to mirror the rich social experiences that users enjoy today. Moderation and governance will be community-driven rather than centralized. Again, blockchain technology enables this shift – data availability no longer requires centralized servers. Tactics like sharding, peer-to-peer networking, and IPFS support distributed storage and transmission.
3 Community
Creating tokenized communities is also a priority. Users can form groups and networks based on shared interests or access to gated content. New incentives arise from owning and trading community membership tokens. Crypto-enabled social experiences like tipping other users would cause no friction. Using crypto wallets and tokens on the platform provides ready access to Web3 services for new users.
4 Currency
To power these experiences, Five Pillars is leveraging high-performance blockchain networks like Solana, which combine fast throughput with low transaction costs. Polygon provides an Ethereum sidechain solution for greater accessibility. Support for NFTs unlocks new models like social tokens and creator coins. Fiat on-ramps like Apple Pay integration with payment tokens make crypto less intimidating for newcomers.
The Five Pillars product suite includes the following: Atlas, a decentralized social messaging app; Alba, a digital wallet and identity vault; and Astra, a Web3 browser providing easy access to dApps. Together, these deliver the core components needed for mainstream Web3 adoption – easy-to-use tools giving users control over their social experiences, identity, data, and wealth.
5 Creation
Making decentralized apps intuitive and delightful will be key to driving mass adoption. That’s why the team behind Five Pillars combines expertise in blockchain with experience at consumer tech companies like Facebook. With $23 million raised so far, they have the runway to execute on this vision.
In conclusion, if Five Pillars succeeds in its mission, it could pave the way for billions more to embrace Web3 communication tools and services. The opportunity is tremendous – decentralized platforms may profoundly reshape how people interact online going forward. By starting with a strong product-market fit and simplifying user experience, Five Pillars aims to make that monumental shift happen.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
