Social media has transformed our world. Social media has been connecting the people at the center of our lives. It is gradually expanding and has brought political, cultural and economic changes. Social networking sites are addictive.
The disadvantages faced are:
• Excessive Reliance on Ad Revenue Personal Information Leakage and Theft - Social medias are not free from security issues. The personal information once leaked can never be recovered. This leads to secondary damage and criminal acts. The major problem is that content platform providers use customer database to gain advertising revenue.
• Advertisement Abuse - Leakage of personal information is not the sole problem with traditional social media that relies on ad revenue. It is a big problem if there is reliability only on ad revenue for the quality of content.
• Value Distribution Unfairness of Value Distribution: In traditional social media the distribution of valued is clearly unjustified to the user. Users are not rewarded even though they create, post and share content on their own.
• Irrationality of Value Distribution: Some social media platforms share the operating revenue of content creators. The 'Influencers' are a small fraction of all content creators, and they are assigned an unreasonable share of the revenue distribution between the content provider and the service provider.
• Irrationality of Value Distribution: User traffic is the main asset of social media platform. User activity indicators are always used as performance indicators for the platform operator. Users are the maintainers of all platforms as they invest their time creating content and curating it. But, their value is not revenue-generated across many social media platforms, but makes users subject to identity theft through targeted advertising campaigns.
• Irrationality of Value Distribution: Operator - Through creating, publishing, sharing, and writing content within the platform, the social media platforms have generated billions of dollars in value, most of the revenue returns to the shareholders and operators.
Solution offered
FORESTING is the newest approach towards the social media. Based on Blockchain technology, the network comprises of, firstly a social media ‘FORESTING’, secondly a digital banking services for FORESTING participants ‘FORESTING Bank’ and thirdly a ‘FORESTING Lab’ to support the FORESTING community and content creators. Each of the three departments are separated and work into their respective functions and roles to fulfill the core values of the FORESTING Network.
'FORESTING Platform' is a social media platform based on Blockchain technology that deviates from the distribution system of traditional social media platforms. It provides a justifiable value distribution system for users. Through Blockchain technologies, they deliver content and contribute to platforms in a variety of forms. It is the platform's revenue chain that allows users to quantify the content provider's contribution to offer rewards using a distributed consensus method.
‘FORESTING Bank' is a digital bank that supports and provides financial services to it's users, that is, content creators and curators, to create content. The purpose of this digital bank is to support financial services that are required by users so that they can fully focus on creating the content at the center of the network.
‘FORESTING Lab’ supports communities and marketing activitie. The purpose of this lab is to provide infrastructures for communities who participate in the FORESTING Network and support content creators who want to make content and post on the FORESTING platform.
FORESTING tends to create a content-centered platform rather than a profit-focused platform that generates direct content revenue. The platform encourages better content creation. Rather than actual traffic-oriented content valuation, it is focused on user voting. It intends to create a better content culture through evaluation.
Token information
The token distribution will be on token sale (40%), team and founder (25%), advisors and marketing (10%), partners (10%), rewards (10%) and reserve (5%).
Conclusion
FORESTING is an incredible the social media platform. Based on Blockchain technology, it provides content providers with economic freedom. The platform will elevate the efficiency and impact of content providers by enabling them to create new, faster content. Using Blockchain technology, the platform will create a new ecosystem for social media and a new concept of social media token operation. It supports all types of content and provides a social network based on a content-oriented rewarding service. The platform is designed to build a network by distributing income though reasonable content generation and on the assessment of the users’ content. FORESTING will offer high-quality content as well as construct a stronger post-staging ecosystem
For more details visit
Website: https://foresting.io/
Whitepaper: https://forestingnetwork.com/whitepaper/FORESTING_Whitepaper_Eng_Ver.0.92.pdf?ver0.2
Published by: Pooja Jur
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1217469