If you are not paying for the product, the product is you
Social media have become an integral part of our daily life and activities; they democratize media participation by enabling sharing of information and collaboration between people of similar interests spread across the globe. Today, there are several social media networks but the most popular platform is Facebook. According to a recent statistics, Facebook boasts of more than 2.38 billion monthly active users. This population of users contributes different types of content daily to the platform such as articles, comments, likes, videos, photos, and their personal data. These social media platforms monetize their users by serving targeted adverts to them thereby generating revenues to the tune of billions of dollars. Despite this mind-blowing revenue figures, users have no right to share a penny from this profit except free access to the platform. This reality validates the saying that “if you are not paying for the product, the product is you”.
This seems to be unfair especially to users who contribute high-quality content every now and then to these social media platforms without any reward than accumulation of intangible ‘likes’, ‘shares’ and ‘comments’. There is a school of thought that believes that the community of content creators and viewers deserve to share from the revenue made on the networks on which they contribute. Traditional solutions to this agitation have not improved the situation either as platforms that promise to pay for content creation pays too little while keeping the lion share of the revenue. These platforms also fail to recognize content viewers as important part of the ecosystem.
Can the problem be solved?
CBNT shares the views of the school of thought agitating for an economically rewarding content-sharing ecosystem. The problem is that traditional solutions are too centralized and incapable of addressing these issues effectively and sustainably. Blockchain – a novel technology of distributed public ledger for recording trasanctions, has demonstrated potentials to revolutionize and address many frailties identified in traditional systems. Leveraging on this cutting-edge technology, CBNT has created a decentralized professional content-sharing consensus ecosystem that adequately rewards all participants by distributing all the profit made from advertisements via the platform to the community members. The platform is based on the Ethereum blockchain and its native cryptocurrency – the CBNT token. CBNT seeks to drive a smart economy of social attention that incentivizes content providers and content viewers (without trading having to trade their rights to content for financial reward), while also rewarding CBNT token holders and offering value for money to ad publishers. In this type of ecosystem, everybody wins.
Content is king especially when it is of premium quality
The token economy created by CBNT thrives on community autonomy and engagement which translates to mining. When a platform user undertakes activities such as content posting, liking, sharing, or commenting, they are rewarded with CBNT tokens based on their contribution weighted value. . The idea is to create a platform for high-quality content which can potentially drive lot of traffic to the platform. Heavy traffic originating from real people generally attracts top brands and companies to advertise their services and products. Since the platform intends to serve advert publishers, CBNT platform users are expected to complete a simple KYC to verify their identity. All the revenue generated from ads will be shared among community members.
One of the key features of the CBNT platform is the Caibao room which serves as the treasure store of the platform. It will hold all of the ad revenues, paid in crypto assets such as BTC, ETH, USDT, and so on, from CBNT homepage and 10% from author’s homepage. This particular room enables users to seamlessly exchange their CBNT token for the crypto of their choice.
Final Thought
CBNT is set to revolutionize professional generated content as well as user-generated content via its proof-of-platform ecosystem. Content creators can say bye to the era of non-remuneration of works. Authors and viewers (followers) can now pool income from CBNT mining and ads displayed on the author’s homepage on CBNT platform for doing what they love to do – content sharing. It is hard to resist the financial empowerment offered by CBNT.
Useful links on CBNT
Website: cbnt.io
Whitepaper: https://www.cbnt.io/whiteBook1.pdf
Twitter: https://twitter.com/CbntOfficial