We all browse our social networks hoping to find new information on our friends, acquaintances and exes and we do this in a couple of ways. We consume content from people we personally know and most that we don’t on twitter. We receive snaps from friends and people like Dj Khaled on snapchat, keeping up with the lives of people like it’s a movie reel and then we view different information on Facebook. We then go over to linkedin and act as professional as we can so we can make connections and keep ourselves in the running for future job opportunities. So, what do all of these platforms have in common? We spend our time on it, we see content we want to see and we get paid to see ads. Oh, wait, that’s not right, we don’t get paid. We browse because it’s enjoyable. These platforms are designed to keep us coming back and seeing the various updates that our friends, family and acquaintances have posted. We browse, advertisers pay to try and reach us and these platforms get paid. These platforms essentially get paid to capture attention and keep it there. The longer they can hold attention the more valuable they are. The more attention they have the more data they have and this data is priceless.
Well, some new upstarts have looked at this model and thought why don’t we just pay the user in cryptocurrency for their attention? And that’s exactly what some are setting out to do.
See Brave “A browser with your interests at heart.”
Browse faster by blocking ads and trackers that violate your privacy and cost you time and money. Brave promises a couple of things, it states that it can save you money, save you time and maybe even make you money. They state “Brave saves you cash. The average mobile browser user pays as much as $23 month in data charges to download ads and trackers — that’s $276 a year. Brave blocks ads and trackers, so you don’t pay for them.” Brave also provides you with better security overall by “blocking ads and trackers, reducing your chances of being infect by malware, ransomware and spyware. Just, in 2016, infections increased by 132%. This is a troublesome statistic as it means that there are many ways that one can get infected. They even go as far providing HTTPS upgrades so that an increased amount of your connections are encrypted which provides you the benefits of a protected identity, a safer browsing experience and much more. The best part? They are also going to be introducing BAT or their basic attention token, a token that will be a part of their larger platform disrupting ad tech. “ A blockchain-based digital advertising system giving publishers a better deal and users a share of the revenue. ” You receive a portion of the revenue for opting into their platform!
Next up we have Steemit, steemit has been around since 2016 and has around a 170,000 users. The platform is described as “a social news service which runs a blogging and social networking website on top of a blockchain database, known as Steem.” Steem has recently rolled out “ a new protocol for media organizations to use cryptocurrency to generate revenue. The new protocol is called the Smart Media Token. The new protocol lets media organizations, social networks, blogs and others to create a new token specific to their site, but one that relies on Steem’s blockchain to operate.”
- Steemit states “A Smart Media Token (SMT) is a native digital asset on the Steem blockchain that can be quickly launched by anyone to help monetize online content and create incentives to encourage desired user behavior.
- They’re like Ethereum’s ERC-20 tokens, but with certain built-in ‘Proof-of-Brain’ properties and a token distribution reward system designed specifically for digital content businesses”
Lastly we have, Mytime, Mytime promises that you can turn your time into cryptocurrency. It is an open Blockchain-based platform that rewards users of products and services with cryptocurrency.
This solution fixes the blocking out by our brain of advertising on the web.
The parties involved in the overall transaction would be Mytime, the publisher of content and the user/reader.
Mytime is able to generate revenues by drawing the publishers to utilizing their platform and the publishers are able to generate revenues by bringing the user to their content publishing spaces.
How it works for the user : the amount of time spent on the site provides the user with MYTC and the rate of how much MYTC the user can earn is set by the publisher of the content.
But in general, is the idea for the content provider, to create the content and then pay the user for the privilege of consuming the product that the creator worked so hard to create?
How it works for the publisher is that the publisher is able to mine the MYTC coins using the users phone/computer to generate the tokens and generate revenues that way.
The CEO states “Mytime is a revolutionary concept, and we believe it will give traditional advertising models a run for their money when it comes to attracting users to services,” says Eduard Gurinovich, CEO, MyTC. “We expect the increasing number of users and the intensity of transactions to contribute to a flourishing mytime economy, boosting the value of MYTC.”
An interesting question is then does that mean the one who wins when it comes to content will be the one that can pay the most or will it be the one that can create the best content?
So, maybe, just maybe time will pay, but as with many things in life, only time will tell.