What is Synereo?
Synereo is the next gen decentralized social network that recently also launched its Amp Coin. It is based on the Omni (Mastercoin) platform. Social networking and blockchain technology have been moving closer with recent technological developments the latest one being GEMS – a bitcoin based social messaging app and a cryptocurrency. At the beginning of December we reported how GEMS raised $110,000 in funding for its application, as of January 30th GEMS has raised $780,000 on the development of it’s application. The massive amount of funding shows that Social Media and Cryptography generate a desirable business model. Synereo comes as the biggest integrator of both cryptocurrencies and Social networking so far.
Synereo is a next-gen social network that puts security, identity, and community management directly under the purview of you – the user, respecting your attention and rewarding you for your activities on the social network.
The benefit of decentralized social networks
Unlike GEMS, Synereo is looking at developing a decentralized social network. Why is it so important that the social network is decentralized? In current social networks you, the end user, is the product that is being sold by the company. These corporations contain databases with your interests, hobbies, age, sex, etc on their networks. The combined patterns resulting from that information are insanely valuable to advertisers and for corporations to improve their tactics. As the Synereo team says:
They’ve tapped into your deeply human need to socialize, with no respect for your privacy or psychological well-being, to turn your life into an endless marketing opportunity.
Now think about a new business model for social networks. Instead of the companies getting value out of the end users, why not reward the users themselves for providing those human patters and behaviors to the network.
Synereo prides itself in being a simple, functional and community based project allowing the users to change the course of development and influence future decisions. The token attached to the service has also allowed the company to give a unique feature to consumers who may already be attached to a whole host of other social networking sites.
The AMP tokens have been developed as a integral part of the platform allowing users to incorporate trading and economic capabilities whilst socializing. Allowing users to participate in the Attention economy Synereo aims to give the tokens an inherent value as on the platform the tokens can be used to make certain messages receive more attention from users. It also aims to allow the users to take back control of their own data and content as the tokens allow for users to be paid for content, in AMP form of course. The AMP tokens have also been hailed as the tool of choice for advertisers on the Synereo network who can buy and sell ad spaces with the cryptocurrency.
The Synereo network has claimed that it will be the most secure and fastest it can possibly be with full attention and funding devoted to the development of the platform and the attached cryptocurrency. Whilst major players in the Social network game may consist of Facebook, Twitter and VK, Synereo hopes to deliver something new, but at the same time reliable. With many of the major players being accused of letting the NSA spy on their users and the messages they send Synereo comes as the alternative, praising itself on being secure and private.
Unconstrained by the financial desires of its operators
Impossible to take down
Rewarding for content creators
As private and as unmonitored as you want it to be
Devoid of any center of control
Designed to value your attention through direct compensation
A better system for social organization online
The future of Synereo
As with any developing project the possibility for growth is limitless. With the developers hard at work improving and tweaking the network and making sure the Amp tokens live up to their hype. There has also been a crowd-sale scheduled for next month as the initial funding round for the company. Allowing users to have their first taste of the cryptocurrency, Synereo hope this to be the first step in their long journey. Users can also have their first taste of the token by registering for the site or picking up a traditional bug Bounty paid in AMP tokens of course.
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