YOYOW: the blockchain spoiler of social media industry?
The current upsurge in the popularity of blockchain technology in global business is redefining companies, ecosystem and economic model. Being one of these new entrants, YOYOW, a content sharing platform based on public blockchain platform is challenging industry flagships such as Facebook by using new business models.
“The value of users has never been respected as they should be.” Says the develop team of YOYOW, “the value includes content generation, spread and community interaction. Users help social media platforms such as Facebook and Twitter make huge profit, but users cannot get any reward from the platform, and this is irrational.”
“A transparent mechanism that can quantify contribution and give monetary or equity stake rewards can give us an opportunity to flourish.” YOYOW team is quite confident about the future of this project “The efficiency, safety, anonymity and controllability are advantages of blockchain technology over traditional platform, and they are our core competence.”
According to YOYOW team, the project is under active development. Project whitepaper has been released on http://www.yoyow.org/
A brief introduction to YOYOW:
YOYOW, a social media platform powered by blockchain technology, uses a new cryptocurrency to support platform and social interaction. A transparent accounting system is employed to recognize contributions of users.
On YOYOW, the standard to evaluate the contribution of users (including platform builders, content producers and participants) is the value of bringing traffic to the platform. According to this criteria of assessment, YOYOW offers monetary and equity stake rewards.
• YOYOW is a social media platform.
• YOYOW is powered by blockchain technology.
• YOYOW offers incentive for content producers and participants.
• YOYOW develops its own community and owns independent currency.
YOYOW is built on blockchain, thus enjoys some advantages. The unique features of blockchain—decentralization, high level of security, privacy protection—can be combined with Peer-to-Peer technology to create a new world.
The mission of YOYOW is to build a decentralized social media platform which has access to all advantages of blockchain such as decentralization, high level of security, privacy protection and entire control by users.