Monday, April 6, 2015

Social Media Content & Blockchain Technology

Distributing Social Media Content on Decentralized Networks

Upcoming Social Media Communities

The ability to control the content that you interact with on social media is decreasing. With each year, more tools are created to data mine your interactions to optimize advertising content.  Engagements are the driving element for advertising campaigns. Likes, Shares, Retweets, or Follows all increase engagement metrics in social media analytics. The disadvantage from using pure analytical data to target marketing campaigns is the level of attention the targeted consumer gives to each add. The level of acceptable promoted content a user will tolerate is low. New decentralized social media networks are increasing the interaction between consumer and content creator at a level accepted by the user. I previously wrote about Gem, a messaging app that pays content creation with Bitcoin. This discussion will move forward into social community creation with blockchain technology.



Synereo is leading the blockchain technology march into the social media domain. Synereo’s business model, for their decentralized social network, is designed around an ‘Attention Economy” measured in Amp Coin. Synereo is designing a platform that is attempting to change how your social media networks are manage mutual content sharing. Content have a set AMP value. To share content amongst other users you can pay in AMP currency set by each user. Content is already shared in social media either organically, or promoted. The disruptive opportunity that Synereo creates is rooted in organic content that everyday users contribute to social media everyday. As you share content, your submission is generating “Attention” and you are paid in AMP coin.

Advertisers purchase AMPs on an open market. To distribute advertising campaigns you pay in AMPs. Synereo takes the advertising campaign and it’s content and distributes with what is advertised as ‘intelligent content delivery’.  Users receive AMPs for their attention to the AMPlified advertising campaign. Users can spend AMPs in Synereo or exchange them for other currencies in various bitcoin exchanges. Synereo wallets will integrate multi-signature key distribution which is a recommended level of security for handling bitcoin.

Not every user will want to migrate to Synereo from an established social media platform. Some may even find the new system of interaction cumbersome if there are too many steps to interact with other users. Non-users can be offered AMP coins, in this scenario, or other cryptocurrencies to migrate to new social media platforms. Smart contracts can be created to guarantee payout as well.

Blockchain transactions will continue to keep a record of spent coins during use of these social media networks. Say a parent or guardian wanted to monitor the amount of social media their adolescent is participating in. The users wallet can be found by the wallet address if it is known and track spent social media cryptocurrency. This is a unique parental control system that does not require an intermediary and is completely monitored by the guardian. There are unknown cause and effect scenarios that will determine the success of these new social media platforms.

Synereo In the News