What are we exactly building for this project?
So Pi is a layer one blockchain with its own native currency, Pi, and a platform to build Pi apps on top of it.
Pi focus on utility building.
Therefore one of the core example apps that we can run on top of Pi is marketplaces. Pie has been quite different from other projects in its strategies with the goal to achieve accessibility and mass adoption of cryptocurrency and create a utility-based ecosystem and web3 world.
There are three major strategies we have been adopting and following. So far one is growth because we believe a real successful currency has to rely on large enough people, you know holding this currency, recognizing it as a currency and are willing to transact goods and services with this currency.
So growth has always been a strategy.
Therefore we grow to over 35 million engaged members and still growth has still been one of the core strategies.
Decentralization is the second strategy.
Decentralization is in a not in a just in the sense of technical decentralization, which all the test net movement and also Mainland migration are in the process of this decentralization. Utility building is the third strategy and we do it through the platform building – allowing, not only ourselves, but also other other developers to build Pi applications on top, to create utility.
While these three strategies still hold for the current period and going forward, we want to emphasize in the recent future more about utilities.
And [the question of] what about the utility are we trying to build, is something that in a high level we want to shift this community from an extrinsically motivated Community to an intrinsically motivated Community.
These two concepts, I don’t know whether everyone knows, but I want to explain a little more.
What is the extrinsic motivation?
Probably [what] many of you have actually heard (and it’s become a buzzword) is X to earn. Like run to earn, play to earn. This type of models, it’s the essence of extrinsic motivation um and of course many of them actually fail.
So extrinsic motivation is a very powerful mechanism it can glue people together align interest and also motivate people to align to do certain things together.
But it depends on how you use it how the project uses it and what and what end does it serve.
Intrinsic motivated means it provides real utility, be it entertainment (meaning someone gets entertained, that’s one type of utility), convenience (provides things that wouldn’t happen without this product) or solve a real problem that you have a need uh you get you get fulfilled by this specific product.
So examples of intrinsic motivated usage of a system: For example, the zoom video call conferencing tool – people are using the tool to fulfill a need that they need to have meetings with remote people, and that need is fulfilled and this is a utility.
People’s usage of Zoom does not depend on how high or low the stock price of the Zoom company is. And another example is – our use of iPhone is not affected by Apple stocks, not necessarily. Like today if Apple stock drops, [do] I stopped calling my friend? No, not necessarily the case.
That’s why these products are intrinsically motivated for their user to use them. So what we are trying to do in, the bigger vision or a higher level strategy, is that we want to shift our community from very much extrinsically motivated to intrinsically motivated, Meaning that Pioneers should want to come to Pi Network regardless of whether there is an extrinsic motivation. Or, mining Pi is the it’s the extrinsic motivation for Pioneers.
However in addition to that mechanism that help us grow this network very powerfully strong, we want to make that shift into what type of utility it creates and provides for the community, and that’s part of the reason we also designed this Enclosed Network period, which is very, as I said, very different from other projects (very counter-intuitive) because for the majority of the other projects their goal is to get listed.
We specifically designed the enclosed period to nurture certain type of utility building that doesn’t necessarily require external connections, and that type of utility will help nurture the the mindset, educate the pioneers and the mentality of of the community, to shift from the overall speculative-focused crypto Community to more like:
what does this solve exactly? What need do I get for fulfilled from this crypto network? And of course I’m not saying that open network isn’t good; it’s the ultimate goal, so the timing of this it depends on how, in the enclosed period, we can nurture certain type of utility building and also the urgency of us trying to produce, trying to create utility that relies on external networks.
Okay, and I want to answer why do we need to do this shift?
This is the key of real success in the. crypto world and the Web3 world. Crypto networks need to be able to provide real services than just the tool of speculation,and crypto and blockchain itself has a certain utility, by nature, e.g. the decentralization, the anti-censorship, the complete self-sovereignty – all these very good blockchain native utilities are real.
But they are not necessarily commonly shared by mainstream audiences. It is [shared] by crypto enthusiasts, people who understand the meaning of decentralization, [who] really have a problem of anti-censorship.
Like for example, the beginning of Bitcoin, why it succeeded so much, it was actually because of its utility its own utility – the native utility of blockchain.
Now we need to find, similarly for our Network to succeed, we need to find real utilities.
It can no longer be no longer be limited to small groups of people who benefit from this type of native utility.
Therefore we need to build a platform that allows mainstream audiences [to access] acceptable understandable utilities to be tested, created, iterated, and produced.
Pi Network aims to complete this shift from extrinsic to Intrinsic motivated Community to give rise to new Utilities in the format of web3.
Okay take a lot of, and to be honest this process is not something that you say you do, that you will achieve.
This process, just for a heads up, it takes a lot of trials of so many different Pi apps by the community, by us Core Team.
It will be a lot of probably failures because real utility and product is not the for sure course and nobody come out and say oh I can create something and then immediately next day it sells in the market.
It’s similar to that in that sense it’s just in the context of the crypto and web3 world.
The utility is real addressing the need of real humans wants is real, so it’s like a creating a startup or business.
After its success, everyone can say “oh such a simple idea like Facebook oh just a simple idea everyone you know create a social network with a real name”
but before it succeeds, it takes so much time and iteration and actually so many trials.
Before Facebook there was Myspace and all this social network and afterward a bunch of you know social network attempts but only this one succeed.
So what I’m trying to say, is there is no for sure thing that the utility is easy – not the first app we roll out, not the first batch of developers who wrote out their Pi apps on the Pi platform, that it will hit the utility.
But Pi hopes to create an environment that nurtures utility building and supports developers in utility building and educates our community for the mindset of focus on utility.
We as Pi Network, we have a good start and we have good resources that enable us to actually, under good stepping stones for the utility building together, what we have is first large social network and community.
The beginning of motivation for me and Nicholas to create this project was actually coming from our years of experience in human-computer interaction.
Human-computer interaction is the study of how to design Systems, computer systems, for people to use and scale the usage.
A core concept inside human-computer interaction is user iterations.
Users need to give you feedback about whether your tool or your system is useful or not, and you keep taking the feedback )of course processing them) and inform your product design.
This loop has to happen many times – as I said the Pi apps will fail many times.
However in crypto, before we created Pi, we identified the peak problem for crypto [as] Mass adoption and also real utility building – that there is limited social networks.
Even at the time when we were teaching Stanford students in the class of building decentralized applications – at the time Ethereum was the best platform in terms of developer tools and environment. Our students actually built you know multiple, many projects for the class.
However, there is no one using it there is not even people testing it. No one uses it. A lot of great ideas but there’s no people.
So why Pi Network is different from other networks is because we’re stepping on top of this amazing large community, and this community creates the environment that is suitable for any real product, designing and improving.
So a large social network and Community is the resource that Pi Network has in order to reach the path of the utility building.