Howdoo is a decentralized social platform based on blockchain technology. It aims to address the social and economic problems that exist in the social platforms. We are going to visit the 7 major problems that exist and learn how Howdoo is planning to address those.
Exploitation of User Data
Social media platforms collect valuable user data such as interests, preferences and activities via the actions made during user interaction within the platforms. Social media platforms categorize this big data and sell them to the marketers. This way such platforms obtain enormous revenues. Therefore, this revenue model is essential to existing centralized social platforms. Facebook reported advertising revenues of $9,16 billion in Q2 of 2017.
Solution: Howdoo will give users and communities freedom of choice whether they want to see advertisements or not. They will have opportunity to accept advertisements in return of payment. Similarly, users and communities would have full control over their personal data. Besides, they will have control over the types of advertisement they want to see. In addition, a feedback mechanism to be provided will also incentivize advertisers to respect users’ requirements.
Compensation of Content Creators is not Fair
Content creators are the most important element of social media platforms. The quality or popularity of the contents created determines the number of people attracted to the platform. The traffic occurred on any social platform is an essential indicator for advertisers since it is directly correlated to the number of audiences that can see their advertisements. However, in todays centralized platforms, established players increasingly demonetizing the contents created by content creators with no notification or option to appeal. Moreover, there is a growing concern with shrinking subscriber numbers, and established platforms prefer sponsored content and increase the level of editorial control pressure on content creators.
Solution: Howdoo proposes an incentive-based reward program. The program encourages masses to get involved in the platform. It will also reward content creators according to their active contributions. We will transfer the business models and user benefits associated with social media via offering a share of revenue (60 to 70%) to the original content creators.
Users are Unable to Adjust the Number of Advertisements they will Consume
Since advertising is the main revenue stream for the existing social platforms they treat their users as passive consumers of content and advertisement. For this reason, a central body determines who, where and when to advertise. Meanwhile advertisers offer distinct commercial packages to distribute their messages. On the contrary users have no control on the advertisement traffic.
Solution: Howdoo will provide users and communities payments for the advertisements they have agreed to consume. In addition, users as individual or communities will have two options either adjusting the amount of advertisement they are going to consume or not to see any at all. Those who accept to consume advertisements will be rewarded by the percentage (depends on the overall proof of contribution score) of advertisement fees paid in μDoo tokens by advertisers.
Anti-social Behaviour and Lack of Moderation
Cyber-bullying and trolling are major problems of the centralized social platforms. Since there are no strict deterrent regulations ruling, people often easily offend each other. Besides, centralized platforms are not capable to regulate content in a timely and fair fashion. Frankly, expecting a single body to control the content globally is not possible, especially in a global user base where there are differences in culture, context and generations exist.
Solution: Howdoo will provide users with the power of content moderation by creating a fair, decentralized and financially incentivized social network.
Contributions will be judged as positive or negative according to a mixture of objective and subjective measures, namely service quality and judgements of other community members respectively. Moderation of both user-created contents and advertisements will be the responsibility of users. As a result, community will decide if a content is offensive or inappropriate in the context of their members’ culture, interests, sense of humour, and opinions – and penalize anti-social behaviour.
Outdated International Payment Industry
Domestic fund transfers are easy to implement, settled at once and free of charge. On the other hand, international fund transfers are expensive and time-consuming processes since there are numerous foreign exchange rate fees, and service fees charged by providers or middleman and long clearing times. There are two billion adults and 160 million small businesses that do not have any banking access. Teller services such as Western Union and MoneyGram allow money to be transferred without a bank account but with very high service fees.
Solution: The platform provided by Howdoo will enable people to send money around the world easily similar to sending message or media. The service provided will be independent of conventional banking facilities and provide services for both banked and unbanked users. Providing money transfer within a social network will provide peer-to-peer financial services such as loans.
Advertisers and Sellers are Effectively Disconnected from Online Costumers
Because online costumers provide feedback that is irrelevant to the needs of the individual, it is challenging to social media marketing professionals to engage with them. Besides there are online marketplaces that fail to link individuals with brands and their products. This is a huge missed opportunity for brands and sellers to nurture a community of like-minded customers, and to create a shared sense of commitment and loyalty to their offering.
Solution: Online marketplace and social network are combined inHowdoo which provide a platform for brands and entrepreneurs to sell their products into communities and enable them to develop more personalized relationships with those who show an interest. Such a communication would enable sellers to place a direct value to their goods which is better than relying on unpredictable advertisement revenue. Besides, encouraging users to provide feedback on the relevance and effectiveness of campaigns, advertisers will be able to concentrate their efforts towards people who are most interested in their products and services.
Advertisers Have Limited Control Over Their Campaigns
Besides the concerns of user hate, adblocking software and high level of fraud, there are transparency and brand association problems. All these problems result in deficient audit perception as a result advertisers could never be sure that their products are being shown and what else their products are appearing next to.
Solution: Since blockchain based Howdoo platform gives power to advertisers to hold accurate audits of each location their advertisements reach. Such transparency enables brands to review their activity, accurately assess any result and to continuously adjust their future positions. These capabilities promote the level of control over brands and also enables advertisers to optimize their activity by audience and location.
Howdoo is ready to disrupt social network industry with addition of payment options via cryptocurrency.
You would check the details at project website.