From all indications, the attention economy looks ripe for significant disruption and blockchain solution companies have initiated a revolution within the industry.
Currently, a hand full of huge social media companies are able to control the narritive be using complex algorithms to censor any voices that do not fit their narrative. Sometimes, Accounts are “ghosted”, or simply removed.
This continues to plagued the attention economy ecosystem, and many huge youtubers like pewdie pie, H2H, and James DeFranco have publicly stating their organic growth is being tampered with.
These centralized platforms take away the ability of creators to fully and authentically express themselves.
As long as hosted content can still be controlled or manipulated by a central authority, we shall not have truly free expression on the internet.
Imagine waking up to find that a social media account of yours has been deleted, content lost and followers disappeared, or the possibility of having your original content altered to represent an idea different from your original intention.
While these scenarios are better imagined, it actually represents the frustrating experience of a growing number of many content creators on present day social media.
As the blockchain blazes new trails while conquering existing obstacles, its intrinsic qualities enables the achievement of total freedom from insincere authorities, and the abolishment of discrepancies that have plagued the attention economy ecosystem. Also, the blockchain provides the opportunity for well structured incentivized participation in social media.
Some of the blockchain properties that are enabling the revolution of the attention economy ecosystem include:
Blockchain is a decentralized system, therefore every participant can view and track any information posted on the blockchain. This characteristic automatically eliminates the opportunity of tampering with content untraceably, as is easily achieved with centralized servers, where news can be altered to satisfy the powers that be.
Any information posted on the blockchain cannot be changed. Such data is described as an immutable data. Therefore, content creators can be certain that their original ideas cannot be changed or deleted.
For economic reasons, employing blockchain technology in the area of incentivization and compensation is a huge step forward from the norm.
The peer-to-peer nature of transactions on the blockchain enhances the speed of transactions, maximizes benefits by the negligible cost of transaction and also eliminates the need for trust as every process is open and transparent.
OneName Global (onG) introduces a platform that brings all social networks of an individual to one place. In other words, an individual’s content can be distributed to all of their networks through the onG network at the same time. Soon to be hosted on the blockchain, onG.Social automatically serves as a backup for shared content. This means that such contents are saved automatically, thereby protecting users from the risk of losing their work.
onG goes a step further by monetizing the efforts of participants within the network. Unlike traditional systems where content creators have to scout for advertisers, the onG network technically ‘lends’ advertisers to content owners. Soon to be coupled with cryptocurrency, all meaningful actions will be rewarded, such as posting and curating content.
Posts will also be validated by measuring the global impact of a submission and verified truth through community consensus. This system is expected to motivate the public to generate more quality content in order to eliminate fake news.
The ICO for onG’s cryptocurrency (onG Coin) is slated to be launched on July 17, 2017, where 25% of the total cryptocurrencies will be released, with the remaining 75% released systematically as rewards on the onG.social network over the next twenty years.
One major benefit of blockchain solutions in the attention economy is the retrieval of control from centralized powers, and decentralizing control directly to content creators. The onG platform is designed to ensure that intellectual equity is adequately rewarded, while content
quality remains uncompromised.
Apparently, the blockchain revolution is shifting gears. onG.social is getting ready to disrupt the social media ecosystem in a big way.
Disclaimer. This article is provided by a third-party source and should not be viewed as an endorsement by CoinIdol. Readers should do their own research before investing funds in any company. CoinIdol shall not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any such content, goods or services mentioned in this article