The debate about the effects social networks like Facebook and Twitter have on us as human being goes one. Surely, just this week Facebook co-founder Sean Parker said “The thought process that went into building these applications, Facebook being the first of them, … was all about:’ How do we deplete as much of your time and conscious courtesy as is practicable ?… God only knows what it’s undertaken in order to our children’s brains.” Thanks for that Sean.
That attention-grabbing is an issue of going just as much data from the user about their wishes, but eventually is also establishing them adverts while they trawl the feed.
But what if we literally went pay money our scrutiny in crypto currency? Well, that’s exactly what a few blockchain startups are trying to figure out.
Brave Browser, created by Brendan Eich, a onetime Mozilla CEO, recently announced the Basic Attention Token( BAT) backed by user’s tending on the contents. And online blogging stage Steemit has rolled out a new protocol for media organizations to use cryptocurrency to generate revenue.
Now there’s a new kid on the block: Mytime. In periods of functionality, the mytime etiquette is similar to existing cryptocurrencies such as Ethereum, Plasma and EOS. But this is an open blockchain-based platform that converts time spent by person or persons on a particular assistance or app, into cryptocurrency.
The idea is that companies can honor their loyal audiences while saving on transaction and sell rates, and users get to spend the crypto how they want.
Imagine if content networks like news websites paid you to see their contents instead of magnetism you to see ads? Perhaps we would have a different kind of media.
Users will be reinforced with mytime’s new cryptocurrency clues( known as MYTC) which companies will be able to mine themselves, based on the duration of the service. Useds can use the signs to pay for other services from other corporations applying period the mytime platform or proselytize them to fiat money via exhanges.
Eduard Gurinovich, CEO, MyTC says: “Mytime is a revolutionary concept, and we believe it will give usual promote representations a run for their fund when it is necessary to alluring useds to business. We expect the increasing number of users and the ferocity of transactions to contribute to a flourishing mytime economy, boosting the value of MYTC.”
Some patterns might be a video game actor coming MYTC for every minute spent in a game, the see of a newspaper website, or a taxi fare getting tokens for using a taxi which too utilizes MYTC.
The startup has created its new etiquette to do two main things. Firstly, it authorizes user time spent. Furthermore, it protects the platform from misuse. The entire plan operates on two parallel blockchains: one is used to confirm the elapsed service age( which cannot transcend 24 hours a day, and automatically prevents users from logging the same time period for more than one busines ). The second one records the participating company’s MYTC reward dispensation. Token transfer occurs on the MYTC online wallet.
Gurinovich previously founded CarPrice, which attracted $80 million from investors in Eastern Europe and opened more than 50 powers in Russia, Japan, India and Brazil. His co-founders include Georgy Chumbridze, the founding fathers of Innova, which uttered browser-based online tournaments; and Armen Gulinyan, previously CEO of Ruform( Rutube, Pladform ), a video distribution system which has 20 percent of the video publicize busines in Russia. They are joined by Alexander Garkusha( co-founder of ModernToken who too participated in creating a whitepaper for the Ethereum ICO) who is a technological adviser of the mytime platform.
Read more: https :// techcrunch.com