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Why foobar Built Delegate Cash (and Why Web3 Needs to Do Better)

Foobar is a well-known figure in the Web3 space, having made significant contributions to the NFT scene and highlighted security flaws in project contracts. He is also the founder of Delegate Cash, a service that allows users to create and assign hot wallets as a delegate for wallets that actually store their NFTs, providing a crucial measure of confidence to the decentralized world. In an interview with nft now, he discussed the future of Delegate Cash, his thoughts on what Web3 is lacking, and the potential of AI tools like ChatGPT to upend existing power structures. Foobar also noted that while the crypto app ecosystem has theoretical power and composability, there are still a ton of UX improvements that need to be made for the median person trying to send some USDC from one place to another. Despite challenges such as the shortage of competent developers in the crypto space and regulatory barriers, individuals like foobar are dedicated to educating the public and promoting decentralization, privacy, and other important principles. For those looking to educate themselves on these issues, curiosity and resources like Google and Twitter Advanced Search can be valuable tools. Foobar's own project, Delegate Cash, was inspired by the need to protect users from phishing attacks and other security threats. He explained that he wanted to provide a feasible approach to protect users from phishing and hacking while still allowing for easy on-chain interactions. Foobar also discussed Liquid Delegates, a new way to tokenize NFT utility in a decentralized, trustless way. When asked about controversies surrounding AI tools like ChatGPT, foobar noted that the machine learning world is facing similar roadblocks as the crypto industry and that the benefits of AI technology may outweigh any attempts to outlaw or ban it.

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