Distributed and Decentralized: Synereo Takes on Social Media
“With current social networks, you are not the client. You are the product being sold.” Synereo opened their official announcement with the above messaging, a bold statement about the current state of social media. Built to be decentralized, Synereo wants to change social networking for the better, rewarding their user base along the way. Synereo approaches ads on social media quite differently than others currently in the market. Instead of adhering to the traditional model of unsolicited advertisements, Synereo believes user attention is worth paying for.
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Synereo's first and most well-known decentralized application is their Social Media Layer, a decentralized social media platform. This could have revolutionary applications in mainland China, where social media is heavily controlled by the government, and the Chinese cryptocurrency community has responded positively with multiple partnerships and events. The cryptocurrency industry has long thrived in mainland China due to a combination of factors. Low costs make it dominant in the mining scene, and crypto’s a great haven from the falling yuan, but even more interesting are the potential....
Social networks are hot nowadays. Ever since Facebook popped up, the whole concept gained traction, and new approaches are made all the time. They're not always as interesting as the one before, but now and then, we get to see a new social network that tries to stand out in the crowd. Meet Synereo, a next-gen social network that claims to be different. You're the client, not the product. "With current social networks, you are not the client. You are the product being sold. The value you create by being a part of the network flows upwards immediately, reaching only a select few: those in....
New social media platforms are starting to emerge that utilize blockchain and distributed ledger technology in an effort to build platforms where users are in control on of their data and more expressive choices are available. The development in the industry's startup ecosystem coincides with a growing disillusionment with the traditional social media platforms. But will security, control and less exploitive content be enough to compel people to start over? Dor Konforty, CEO of Synereo, one of the next-generation social platforms, thinks so. But, he believes this transition will happen in....
Israel-based blockchain 2.0 company Synereo recently announced some new innovations and a successful funding campaign raising $4.7 million USD. Now the firm is broadly changing its outlook to “fundamentally redesign the way the internet works.” Synereo Raises $4.7 Million to Expand and Scale. The blockchain startup says it’s now planning on creating a....