Web3's reputation at risk. How can crypto media rebuild trust and educate? - Jakub Dziadkowiec

thank you guys uh it's a pleasure to be here and thank you for an introduction um how was your morning been did you sleep well guys yeah because I party a lot yesterday so I'm like a a bit dizzy I hope you cut it off okay but yeah yeah um the event is amazing um second day right now right and yeah final day for me I'm I'm leaving soon but uh the most important day for me because I have this presentation and also at 12 I'm going to moderate a panel on the other domain stage so feel feel free to come and feel invited feel welcome um about myself just few words before I start um Jacob jovet this is my last name impossible to pronounce for foreign people but Jacob being crypto right this is um the company I do represent as you see not binance yesterday I was on a on a binance media lunch so they gave me this and everybody approached me I from binance I I needed to disappoint them just being crypto you know not binance uh but still um yesterday's lunch um we have we have a new um CEO of binance Poland um his name is wkh he just got this position September 1st and um yeah they looking to uh meet some regulatory challenges of mikar you know the the changing environment and yeah so that was very fruitful I also met Rachel uh she's a Global Marketing um Chief right something like this uh very interesting person anyways um being crypto the uh Media company I do represent we are covering 20 languages um we have news in 20 languages all over the globe um many domains in Europe I do represent the Polish domain because I'm from here not from moreo but Lubin the other City um and I'm an Editor in Chief and team leader of um being crypto Poland however we have French domains um Spanish uh German uh recently we started Scandinavian domain domains and Italian uh Asian domains laam domains um obviously our main is english.com right being.com so I'm happy to represent my company here we are also partnering with partnering with the event and that makes it um very the success of that event is also success of my company so that's about uh being crypto um I'm a PhD in philosophy okay if anybody cares about that actually philosophy of science philosophy of nature so very close to Natural Sciences like uh you know biology or physics right um so what do I speak about today is web three reputation at risk uh I believe pretty interesting in topic that should um should we all should care about that because if we don't have reputation as an industry and also if we don't have individual reputation we are worthless basically hello guys please take a seat uh we are worthless right nobody will trust us nobody will will want to cooperate with us and the um mistrust will be spreading eroding the space we don't want to do that we need to heal right because there were many cases that brought that reputation down in the past and we need to clarify there and make it trustful and um of high reputation again and um my view on that is the subtitle how crypto media can contribute to that because I represent one so this is what I'm basically can can talk about all right are we here for these guys for these um uh posts uh all of all of them are from being crypto like you know what uh who lost 11 million do yeah just tap to earn games everybody's tapping like crazy right okay there is a niche right there are some people doing a lot of money business on that but is that a core of like you know web 3 or blockchain technology uh rather not uh next mcoin launched by Donald Trump super important thing right actually these titles give us a lot of page views a lot of traffic that's what people like to hear about right but this is not the core this is not uh what we stand for what we protect and what we are proud of right this is just like you know things that happen around uh the the center that should be trustful and should be should be respected of great reputation um right so we are rather here for U not definitely not we are for that right like for example a great information that Swift uh partnered with blockchain startup right so globally recognized brand payment system is uh partnering with blockchain um company which is which is Amazing by itself the next advances of Technology right homomorphic encryption Improvement most of our readers don't even know what that is probably I don't even know what that is right but those are the core advances progresses hello guys uh hello please have a seat um cardano governance shift that's like like last week um this Chang update right and obviously Mika um change changes regulations that are influencing everybody and everybody need to pay attention to that especially if you have your own business in crypto so um how can we maybe not avoid it but not exaggerate it don't make um people feel even more insecure than they are we should focus that these stories right um yeah so what would I what will I do my topic is web 3 and cryptocurrencies uh this is a rapidly evolving area of Technology but also uh facing significant reputational challenges this is what I'm going to talk about the goal I'd like to convince you that that's the way we should look at it is um crypto media have a role to play one of the roles in the industry right no single like Niche or sector can heal everything but crypto media have a l role to play and especially in an educational uh potential so what I'm going to show you guys is basically three points uh except of the summary at the end uh causes of trust decline why we lost trust or we losing trust as we speak uh the role of media as I try to diagnose it more or less and a few practical steps how can actually we contribute to that I I mean we because I do represent the crypto media maybe some of you also um write about something in crypto or promote projects by educating your um your um audience your clients so that may be important also for you but at the end there will also be a call to action for all of us not just for media Representatives but everybody who contribute to the uh to the space so let's start with the first one uh what happened like uh why the trust is declining uh what's the web three obviously I believe we all know um blockchain decentralization smart contracts all these technological advances that happened like a decade or more than a decade ago there are still growing next iterations next amazing things are happening in the space we generally call it web 3 as a continuation or Evolution from web 1 and web two right companies uh that um that we more or less know know the story of key features no Central Authority right this is what we tried to be proud of there's no one guy who is you know pressing the red button and everything boom right we have decentral decentralized environment shirt government governments DS and other uh beautiful um inventions users have more power on many levels right can decide can contribute can actually build these open protocols and uh ownership of data right this is how we try to fight the big companies I'm not going to name them but you know social media also right they own us we are the product right if you don't know what the product is you are the product so uh blockchain is trying web 3 is trying to uh change it into our favor uh the future of the digital economy but it requires trust and understanding right no no beautiful thing can be built without this um features the problem trust in web 3 has been eroded by by numerous uh negative events I'm going to show a few scandals uh like exchange collapses Rock pools to name just few uh lack of transparency uh it comes a lot because of regulations right every country even being crypto my compan is operating in many different countries we always need to be uh sure that we are satisfying the local uh regulation insur local law and if you're going to sell something if you're going to take money from other people there's like another right yesterday I spoke with Rachel that I told you about C the chef of marketing and binance and she said that for marketing for like user contact what's not binance is hiring somewhere around 200 people binance right but for compliance for Regulators for like all these you know um regulatory uh things there there are actually hiring right now more than thousand and they fulltime right they're just watching these files document and trying to find compliance finding to adjust to the regulations so it's it's crazy how difficult it it becomes when you start to talk to government or like try to you know understand the local law and operate within it um so result if we have these scandals and lack of transparency we've been having that for decade or even more uh growing skepticism and mistrust among users and investors um people try to join head about it get burnt once twice Thrice and they resign right they resign they are they feel disappointed uh they feel undereducated they feel um cheated so it's really hard to regain the trust and accept them back to to our ecosystem so I talked about exchange collapses you probably know some of them Rook poles uh obviously that declines our reputation uh and Trust hello go ahead um again few titles from being crypto uh you probably all remember the uh terla Luna story uh with Doan and his impact on that that everything went down in the in the into the like really deep bur Market um some bankman fre story right and FTX the other that was the the deepest part of like the bur Market 2020 right do I remember properly the end of 2020 right uh this um this news and other smaller companies but also well recognized like blockfi csuse all 3 AC um I kept my own money some of them in in these companies I was lucky enough or maybe smart enough I was following the market following the charts also I was seeing what what is happening to the tokens and I was quick enough and I'm proud of it to withdraw my money before it collapses like a month before uh so right but many other people didn't do that so they were waiting and still waiting for the refunds anyways um Rook Rock pools right recently um McDonald's Instagram account was hacked and some people scammed people other people right so uh some hackers the same with different celebrities IG Adel Jason der Ru right their Instagrams are heavy hacked regularly in the recent days and people unfortunately don't know that and trust them and this is interesting who can speak in who can read polish uh it's it's really um terrifying and funny at the same time the guy didn't have hands like arms and he um promised he will not rock pull you right because he doesn't have like physical arms he was disabled and he Pro I will not rack because how can he rack pull without hands right rackpull obviously happens so so stupid and funny and people got got scammed by him so very Innovative very very Innovative and there is par Olympics going in in France right now right or or is it finished already par Olympics I don't know you're not following Sports blockchain straight okay all right anyways how can we media right change it a little bit um contribute educate um trust education and ethics basically this is what are my three points here so uh educational initiatives right media obviously we have an an entire section of so-called learn articles or Evergreen articles that are designed to be actualized like from time to time and give a portion of knowledge to our readers right we have like hundreds of them at the present stage of development being crypto Poland is 4 years old being crypto as a general like Global compan is six years old not that old not that young it's in a good place right now so we've produced a lot of these learn articles and there's like the all Wikipedia encyclopedia of of things you can learn from most people obviously nowadays learn from YouTube Right some influencers which is also fine as long as they don't scam you right as long as you know not to click all these affiliate links and not put money in their pocket um in a in a simple way uh so education obviously it it it is about everybody right everybody should either educate if you have like a good product I I heard your conversation the you have a product but people don't know how can I use it right so you explain them why do you need me right uh so that's that comes with education also education with exchanges right so like exchanges um they don't really care if you win or lose money they care that you stay right like in Casino as long as you're there they give you free alcohol you can bet more you can withdraw more money as long as you as you are in Casino there are winning right because of the volume and you know um that's that's obvious so they also exchangers need to educate people how to use their produ products how to do it safely because they want them want you to stay there that's obvious so we all need to educate media also second transparency promotion yeah highlighting transparency in Industry we at being crypto are following so-called trust product project uh which emphasizes several like criteria uh to to like follow follow that project meaning um an author need to be known that needs to be a contact to him um the sources need to be present the transparent sources we can like just write about something without telling how do we know about it um and many many other things that um promote this transparency and make it okay that guy said something I know who said it I know who he referred to and that creates a network of trust because we rely on each other even if we talked about something that appeared to be a scam some like month later uh we um we are protected because we didn't have information to like warn you about it uh we reli on that and this and this right so this is um another thing that you need to you know admit that at some point project that you wrote about was not uh trust enough because that also clarifies the space and ethical standards at my University I uh as my pH in philosophy a big part of philosophy is ethics also so I basically do that on daily basis with my students but ethics also applies to to to anything that happens between people basically right so if we want to trust each other it needs to be ethical moral in a in a way there needs to be some common values that we both believe in uh then we can build this trust if these values are not present there will be no trust and no responsible journalism in my case for example uh education I basically talked about that reducing risks increasing understanding right the more informative we are the more knowledge we acquire the more skills the better we swim in the space obviously a good use case of that case study was revolute maybe you heard about it or you did it yourself I did it because every poll every person from Poland uh loves to receive some free coins so revolute what they did uh they introduced tests right uh by promoting their cryptocurrency products about I know PKA do or some Solana don't know that Solana anyways you needed to uh fill in do a test like five six questions once you done it properly you receive free coins like few bucks right nothing big but everybody likes your free coins so a good way to promote their product educate people at the same time and you know do these air drops right so that's the education part transparency and information verification building trust preventing misinformation um fact checking media sh prioritize verifying the accuracy of the information before publishing this is what we try to do the best we can and call collaborations at being crypto we count we we bet on that also we work with industry experts with K's um key opinion leaders right and institutions to ensure accuracy U basically have this firstand verified information and create news also that that's the thing right um I was SP speaking with one person one person like a young guy that finished a filming School in W which this is another city in Poland there's a very famous polish filming school and he finished it he approached me yesterday and said listen you represent polish crypto media I want to uh write a mini miniseries like small you know episodes about scams Rook balls or other hacks that happened only in Poland right were created by Polish people that PS were scammed and so very interesting series he refer refers to like Netflix series about I didn't watch that but he explained me that there was a Min series also on Netflix about crypto scams and he wants to do it on a Polish and I said amazing idea amazing idea showing okay that was the reason who did that so some kind of like detective wise uh thing but um a very good idea I'm going to help him on that too so um yeah promoting ethics and responsibility shaping Behavior Behavior comes only with a proper education right uh you need to be educated to act well uh also in crypto and web 3 uh accountability among developers exchanges and other key players sustainable growth uh long-term success that's the problem right with long-term in crypto basically because everybody wants to be uh overnight millionaire so we don't have patience for that unfortunately but it depends what's your view my view is long-term and hope you also see that that way um yeah okay public perception influence on leaders Behavior Uh we by setting proper standards can also influence how representatives of different companies institutions government uh act and communicate so we have this bridge role of uh um keeping the standards and providing kind of public pressure by accepting or declining uh news information PRS that are are not satisfying our standards okay okay and few practical steps uh to rebuild reputation from my media perspective uh first enhancing content quality second creating content for diverse audience third building community and collaboration with regulators and Industry give you just like an overview on that enhancing quality this is like internal feature of of Us Media news creators opinion creators um high quality content well research um counter on false information obviously strategies for improvement in-depth reporting we have reporters like seriously all over the globe and recently we have created like a global Newsroom so it works like we have a bunch of reporters writers analysts also because we provide a lot of technical analyses on being crypto and they write in English right and then all 19 domains 19 other languages are utilizing this outcome as fast as they can and Translate um modify provided for local audiences right so it's like a hub that spreads all over the globe using um the sources from all over the world right we have news writers in Indonesia Latin America Europe many of them so through that cooperation that flow of information is very efficient um diverse perspectives that's also how we um at being crypto benefit by this different perspectives we have analysts that are located in Africa afca they live there but they provide us their own insights India um Thailand Korea Japan and many European countries I mentioned firsthand news uh verifi content transparent sources in fast moving environment like crypto it's very um temp tempting tempting that's the word tempting to publish quickly right be the first who published Without Really checking it properly so there is like a sweet spot between fast and verified right so it requires some uh experience creating content form diverse for diverse audience this is also what we try to do and I also um encourage you if you are content creator to do that always think who you read for who you write for right who you write for uh we have Traders Community we have investors Community we have like K's who want to share their opinions uh we have like regular people me con F mcoin fans and we provide um expertise post for all of them uh I don't have much time so I'll be spinning that a little bit uh building Community that's about everybody like yesterday I told you about this binance lunch they are building a strong Polish Community the same bidget right BG is present here I spoke with these girls that um that that been hired at bitg uh like recently few months ago and they are starting to you know contact people take care of social media that's beautiful because uh uh global companies starting to be locally recognized and I don't need to write to you know tech support somewhere in Taiwan I don't know but I can just call my friend that I met she's speaking my language so that's great way to build engagement uh okay that's that's the I study a collaboration with regulations and Industry that's entire different big topic uh obviously MAA has a big role to play here uh so I'm not going to go too deep into that uh media can be this moderator right uh building of this open uh sorry um how do you call that uh round tables round tables when we can all sit down and uh discuss promoting dialogue organizing events um like this beautiful event helping both sides um yeah if we see different sides uh from investors from exchanges from regul we can provide more effective regulations that will protect everybody this is basically the the aim of law to protect all parties okay highlighting um yeah Harris on Trump we'll see the the US election and m coins are that okay uh summary guys um I've talked about decline um declining trust in web 3 then uh role of crypto and Pro steps enhance quality of text uh write it for different audience build communities and collaborate between industry and Regulators uh key takeaways if you are to remember anything from my presentation uh is to believe that Ed we believe that education and transparency is essential for restoring trust in web 3 so how can we rebuild that trust education and be transparent just tell everybody what you do without hiding anything media's influence is critical crucial in shaping the future of the web 3 ecosystem for media professionals content participation building community and Regulatory industry obviously and for all of us guys stay informed always take care about your own education whatever you do don't act blindly um use reliable sources um reputated High respected uh influencers or celebrities or specialist KS and get involved that's also a good thing if you are into an altcoin understand what they do uh how they develop uh stay aware and participate if you want to create a nice project uh contribute the community and don't stay passive don't stay on a on a sideline uh so this is uh basically again the title of my little presentation we have I believe 3 minutes 2 minutes if you want to comment uh ask anything or contribute to that I'll be happy to hear your comments and uh you can uh scan this QR code to contact me on X okay I don't like telegram thank you [Applause] guys all right are there any questions comments observations hello uh thank you for this presentation and the question is uh is about example So based on your example uh about FES how do they let's assume that I'm a PR manager from FX and I want to like rebuild trust using being crypto and other Medias what's stepbystep guide recommended by you to do this oh my God FTX um that's that's interesting there are actually uh companies who lost their trust and tried to rebuild it first of all actually binance can be a good uh good example CZ just resigned right he's in prison right now for the four months and that was the only way to actually admit that we made mistake sorry we are paying fee as a company he paid his for also his from his own money and he's in prison right now so they said okay few people made mistake so they pointed who did that s bank ffred also he go to prison but FTX is still alive right there are some other people that want to contribute now we learn from our mistakes okay uh that's the entire process we as media can also like be a part of it publish uh talk about how they changing but whether that will be efficient and actually rebuild trust I really doubt it because uh the environment is highly competitive and there are many other uh exchanges and many other players who want to take their spot so in that case the that that was a big big drama of like last two years I believe that would wouldn't be possible all right thank you yeah good news CC actually was recently released according to Watcher Guru I'm not sure if it's uh correct but I have to check being crypto he's not in jail but he cannot rent the company now yeah yeah to down this was like home custody or something like he was he was in jail or he can't bance yeah okay perfect okay thank you very much jaob thank you guys