The Next Big “Unlock” For Social Media
By Paul Taylor, CEO SocialCash
SocialCash is a next-gen decentralized and distributed social network designed for the new Social Sharing Economy – Web 3.0 (Internet of Value) enabled by blockchain.
SocialCash is the next “unlock” for Social Media. SocialCoin – the crypto-token or social currency – enables this next evolutionary step for the Internet.
We introduce a new type of smart contract specific to digital advertising for unlocking value from the Social Sharing Economy (“Social Contract”), which is based on Proof-of-Sharing (PoS), for authenticating users sharing digital content on the blockchain.
SocialCash mission is to unlock the latency (value) that exists in social media by rewarding Users for creating and sharing digital content. SocialCoin technology enables the new Social Sharing Economy Web 3.0. Our smart contract using PoS rewards users for authentication, thereby, converting Social Kudos (sharing) into Social Currency.
The Problems We are Solving
SocialCoin blockchain technology solves the problems of transparency and lack of efficient markets that are destroying value for modern advertisers using conventional platform-based social media platforms. Our Social Contract verifies users on the blockchain for Advertisers and incentivizes new users to join the blockchain to share and optimize the marketing campaign.
We solve this problem, not only for advertisers, but also for the supply chain comprising the platform-based social media companies. The technology provides a layer of risk management and audit for campaign metrics which is verified.
Advertising is ripe with “fake news” propagated by chat-bots and unverified sources. Sponsored Ads (promoted) are ignored by consumers as untrusted. Sharing Digital Content creates value which is the new social currency of the Web 3.0 enabled by blockchain technology (US Pat 9,647,911).
Consumers are rewarded for sharing content with their network in digital currency (social coins) added to their digital wallets. Social coins purchased by advertisers are offered as rewards for users sharing their digital campaigns and authenticating themselves on the blockchain.
SocialCoin unlocks the value in the Social Sharing Economy – Web 3.0.