Voice, “social as it should be”. This is the slogan of the new social media app that will shake the way people interface to the digital world and will reward people for every piece of the content they share, instead of being used to create one company’s revenue and feed their hidden algorithms.
In 2012 the number of active Facebook users had surpassed one billion and this number today accounts for 2.38 billion monthly active users. These are the people who joined the social media app to stay connected with their family, friends and to conduct business. But as often happens, when companies become too big, things become out of control resulting in poor client satisfaction.
Although Mark Zuckerberg’s social media platform is the biggest in the world, it places itself only at 7th place for user satisfaction. Companies like Pinterest, Wikipedia and YouTube outpace the giant who scored just 67/100 points on the US index.
This is in stark contrast with the market share the company has in America. It’s the leading social media website and app based on a share of visits, but the market share and the satisfaction don’t go in pair.
The market share is really disproportional, even taking into consideration a tumultuous 2018 that followed the Cambridge Analytica scandal. Facebook is still the top social network in the United States, with 166.14 million mobile users accessing the Facebook app in October 2018. Instagram and Facebook Messenger that belong to the giant ranked second and third with 114.4 and close to 105 million users respectively.
Everyone who has a social media account knows that digital interactions are being rigged by trolls or cyber bullies, fake followers and poor content quality. People are also being tracked and manipulated by hidden algorithms, their behaviour and thinking are being influenced by those who get to own their data. Group conversations are often filled with hate and insults and offensive content is common. This has made social media a sort of a garbage bin rather than a place where to exchange valuable thoughts. People are also being used as a free commodity to extract profit from. Each word, like, photo, picture, video and even each view is being monetized by the social media giants and sold for a hefty price, and not one bit of this revenue goes back to the users in any form. But it’s the users who are the rightful owners, not the companies and surely not the advertisers.
The problem with social media platforms like Facebook, YouTube or Twitter is that people have their own circle of family, friends, and followers which they are hesitant to leave, this is the reason it’s difficult to move to a new platform. And if someone wants to take the risk and move on to something different, the current choice is quite poor and doesn’t offer anything new. This is a typical prisoners dilemma, but this is about to change.
Voice app is about to disrupt the social media space
Block.one, the company behind the EOSIO software which collected $4 billion dollars from their token sale and received support from people like Peter Thiel of PayPal, Mike Novogratz of Galaxy Digital and other billionaires like Louis Bacon, Alan Howard, and Christian Angermayer, announced their social media application on June the 1st which is going to disrupt the current market and revolutionise the way we interact with each other.
With Voice.com Block.one is “rewriting the formula” and leveraging the EOS public blockchain “to deliver the most transparent and aligned social media platform to the world” said Brendan Blumer, the CEO of the company behind EOSIO software.
On Voice, it will be the users, not the companies who benefit directly from their engagement. On Voice, good content will be the king and rewards for its creation and interactions with it will circulate back to the user and the community. With Voice, Block.one is aiming to create a “truly self-sustaining economy of thoughts and ideas” because what’s good for the platform is good for the users too. On this new platform all the focus will be put on the users – the “real” people accountable for what they share.
In a world filled with fake news, it is important to know where the news come from. People need to know if the source is trustworthy or not, and this is where real identity comes into play. It is easy to disseminate fake news or poor content quality if it’s being done by bots who upvote and share, but with each user being an unique identified person the bots or cyber bullies will have no place on the platform.
The VOICE token
Blockchain technology brings the advantage of transparency, accountability, security of accounts, lack of hidden interests or algorithms. Thanks to the blockchain it will be possible to create the VOICE token which will empower and reward its users for each piece of content and interaction. The VOICE token will be at the core of the new mechanism by which valuable posts and comments will be put in front of people’s eyes. This is what will make the platform a home for great content.
The token will serve to reward unique users for content creation, content discovery and to empower your own voice. The more people like what you post or say in the comments, the more rewards you will earn. This is a very important aspect of Voice as a new social media platform because unlike Instagram, Facebook, Pinterest or Twitter where each like, comment or link share goes towards revenue for the companies behind it, on Voice the user will receive the rewards for the content he has created and for other people’s engagement with it. This is truly disrupting and the importance of this shouldn’t be underestimated.
With the token rewards doesn’t just come an economic advantage, but also more visibility for your post, so it’s like each interaction is giving fuel to your content. The mechanism is simple: post, get rewards for likes and comments which makes your post more visible and brings your post even more likes and followers, “voice it” to improve visibility and get more engagement.
Block.one also introduces the mechanism of boosting your content – “voice it” or “voicing”. You will be able to use your rewards to voice the posts and comments in order to make them more visible and to bring them more attention. This way you will be allowed to be on top and if someone else voices their content and brings your comment down, you will get your tokens back plus 10% of additional tokens as a reward. Voice it earns rewards if someone pays more than you did by 30%. The user who out-voiced you won’t take the rewards but will get the visibility and more likes.
“The point is that on Voice you don’t need millions of followers to have an impact,” said Daniel Larimer, the CTO of Block.one and the creator of Voice.com. “It’s the people, not the editors or the algorithms who decide what directly makes it to the top. Which ideas go to the top”.
But Voice is not just content sharing and liking. Block.one has come up with an innovative idea of providing people with Universal Basic Income (UBI) through the platform. Users will be given voice tokens each day just for using the social media application. The benefit of UBI is that it remains impossible for influencers to keep their influence by holding tokens, as when they use their voice they also burn it. This is a big improvement to the current system where old reputation doesn’t always reflect the current one. This way new users to the platform can have an influence. Being paid for giving up control in change for visibility is an important incentive for people to use their tokens for voicing.
Advertising on Voice will also be something the likes of which we have not seen before. We are not expecting to see flashy banners and if someone thinks they can just buy a large number of tokens to boost their post to stay in the top most visible position, they will be sorely mistaken.
On Voice, people will be given equal right to be heard, the only thing that will change is the ability to transfer or sell this right. Whoever wants to cede his own voice power to someone else, will be able to do so at a price, the advertisers will buy that right and those tokens will be burned.
It depends on what you value more, your own voice or the revenue that will come out of it. One thing is sure – Voice has all the potential in the world to become the first place for user-generated income on social media.
Businesses will also have a place on Voice, but they won’t have the same privileges as individuals. They will not get UBI and their likes will not increase rewards, this is why the users will have more of an edge over companies and the system won’t be easily compromised by businesses and agendas. They will be able to use VOICE tokens to voice their content.
With such a reward system and unique identity in place, Voice has everything that’s needed to become the next big thing in the digital world. It will be a place where high-quality content and comments will have top visibility and, hopefully, where bullies won’t be tolerated. In the exact same way as social media has shaped our modern society of short attention spans and garbage posts, Voice could turn things around and give back the value to high-quality content creators and surely to those who are engaged and deserve it.
Disclaimer. EOSwriter does not endorse any content or product on this page. While we aim at providing you with all the important information we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as investment advice.