Social media has gradually become an integral part of our lifestyle. It encompasses communication between family and friends to business relations between businesses. It serves as a tool that enables businesses to market their products, promote their brand, connect with current and prospective customers and foster new business. While it is a value generating economy, the bulk of the revenue have only ended with the social media platform owners. Value is not shared proportionally, sadly, the users that constitute these social media platforms receive no financial incentives for the different roles they play. Instead users are on the receiving end of data theft, data scandal, and other social vices. The bottom line is that the current social media platforms are centralised which lends them to being susceptible to hacks, and other shady practices.
Value Driven Social Media
The advent of Blockchain technology brought with it the internet of value, as already existing platforms, businesses and institutions are being decentralized, values are now being shared among the various parties in a transparent, secure, and fast manner. To bring such disruptive technology to social media is Foresting, a blockchain based social media platform that intends to distribute fair value among platform owners. The Foresting platform has been designed in such a way that it will appeal to everyone whether the person has prior knowledge of blockchain or cryptocurrency. The Foresting platform rewards users for being active within the platform.
Foresting is leveraging blockchain technology to provide users with core ecosystem functions such as;
- The Media Foresting is a breakthrough in social media interaction, seamlessly connecting users in a secure environment and rewarding value. It provides a healthy environment for content creators to generate new contents faster than in traditional social media platforms.
- The Foresting Bank will provide content creators with financial services. It an be likened to a digital bank offering banking feature to users. With the help of a unique credit rating system which will judge a user’s content quality, level of connection in the platform and provide them with variety of financial services. Contents can range from text, to images videos, audios, or live broadcasting. This will go a long way in encouraging content creators to create quality contents since rewards will be based on the interaction of other users with the content. Interactions like likes, comments, and shares will amount to rewards.
- Foresting Lab will be charged with the support and development of the platform and content creators. This will be done by developing and offline infrastructure which will support the platform community and content creators. Content creators will have access to all the necessary tools they need to produce their contents, tools such as cameras, microphones, lights, speakers and so on. Providing content creators with the above mentioned equipment will help them to produce better and quality content in the shortest time possible.
Conclusion
In an era where a good number of population spend the greater part of their day, creating and consuming content on social media without any financial value accrue them, it’s refreshing to see platforms like Foresting come up with the idea that social media activities can be rewarding. The Foresting platform will be a much welcome alternative to the traditional social media platforms.
For Further Information
Website: https://foresting.io/
Whitepaper: https://forestingnetwork.com/whitepaper/FORESTING_Whitepaper_Eng_Ver.0.92.pdf?ver0.2
Telegram: https://t.me/foresting_global
Bounty thread: https://bitcointalk.org/index.php?topic=4931943.0
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