Synereo builds the world’s first blockchain social media network Synereo
Q. – What interest is there to date to rival Facebook, Twitter and other ad dollar funded programs? How much is needed to be funded by crowd sale closing date on April 22? Andy McCutcheon, Co-Founder and President responded:
A. – Decentralization is as much a rival to such platforms, as an alarm clock is to the knocker. If the users have the bandwidth, computational power, and storage capacity to power the system, the incumbent’s model is simply obsolete. Many people already understand this.
We don’t see the crowd sale as a make or break funding venue. We’ve capped the amount of AMPs we are selling at the crowd sale to 18.5% of the total as we continue working on the tech, which has received $3.2M in investment so far, and will be seeking additional funding for taking Synereo mainstream.
Q. – Can Synereo achieve true anonymity for its users? What are the pitfalls to watch and prevent from any occurrence? Can the NSA and FBI become anonymous users and develop an identity to track and capture a provider on the platform? Splicious Founder, Greg Meredith, and Synereo Co-Founder and Chief Science Officer responded:
A. – We really have to talk about a spectrum of possibilities. On the one hand, rogue agencies and governments have an easy time “hacking” into existing social networks. For a government operative, no hacking is required. All of the information is laid out for you in the service’s centralized store of information, ready for your perusal. This is a result of the service’s need to have constant, continued access to this information: they sell it to 3rd parties and use it to target their users with advertisements.
On the other hand, people are very fast and loose with their personally identifiable information. Just because someone is hiding behind a few different online personas doesn’t mean that an interested or motivated party can’t deduce they are one and the same person, living at the same address, using the same credit cards and bank accounts, shopping at the same stores. No electronic or cryptographic strategy is going to overcome people sharing tmi (too much information)!
Synereo makes a commitment, at the base level of its technology that it never looks at user content, not even to provide its fairly sophisticated search mechanisms or its content routing mechanisms. Shared content is encrypted by keys belonging to the folks involved in the content exchange. Synereo is not even in the loop for that part of the process. This is the type of battle-tested encryption that powers many services that are considered secure today, including the bitcoin blockchain. Synereo takes steps beyond that, adding a level of cryptographic security that hasn’t been seen before in popular services because math.
Synereo also provide some very unique features regarding reputation that help weed out suspicious or potentially threatening engagement. Synereo’s Reo scoring system isn’t just about self-organizing content routing and distribution, it’s also about tapping into the natural social security mechanisms we find in our neighborhoods, schools, and supermarkets. Reputation is going to take on a whole new level of importance in the new economy.
This interviewer continued to explore Synereo’s Reo scoring system as an essential element of its decentralization format that moves to a higher level of cryptographic security. If an isolated community such as a terrorist group or a dark movement moved its content into the mainstream, the Reo scoring system will display its relative standing in relation to the community. It is a powerful piece of the content exchange conversation. The Synereo system is truly global and critically sensitive to its content and groups within the community.
My next question brought a chuckle from Greg Meredith when asked where Synereo will be five years from now. A video update is already planned for the user experience after the rollout. The user clicks will provide the response to Synereo of viewer use. An exciting aspect is the concept of decentralized microtransactions. Greg sees that in the future we will not imagine a world without microtransactions. The opportunity to move away from the standard institutions for transactions will be a major paradigm shift similar to the shift in lifestyle brought by the smart phone. We cannot imagine life without instant communication and information. Instant microtransactions within one’s own control will become everyday circumstance in a future that is here today.
The merger of Splicious and Synereo has provided an easy on ramp to purchase Synereo AMP coins with bitcoin or any future cryptocurrency. Bitcoin availability for purchase and transfer available from Bitcoin providers on the Synereo website has removed the stumbling block of clumsy execution for the microtransaction. This is a noteworthy step in how Synereo provides a user friendly website for the viewer. To step into the future of conversation exchange within the global community take a look at Synereo which provides you access of tomorrow’s social media network today.
Synereo’s crowd sale is through April 22 and accessed on the Synereo website. To learn more about Synereo and its co-founders or to contact its members, please, visit the website.
Editor’s Note: This Article originally appeared on Examiner and is featured here with permission from the Author
