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On May 10, 2018, the pre-ICO of the new social network Monoreto starts. The project introduces a blockchain, which will help social network users to monetize their content and their interactions with each other. This social network can disrupt the media landscape: any user will be rewarded, and influencers will get more opportunities for development.
The revenue of social networks depends on user data: content, history of actions on the network and their interactions with each other. The developers of the network do not produce those products. They just support the platform, store user data and sell network audience to advertisers.
Although users create content and share their valuable data, they do not receive revenue and even become objects of manipulation. They miss important and interesting information from their friends in their feeds. Instead, they find ads and posts sponsored by brands. Popular authors also promote goods and services explicitly or in a hidden manner. A survey conducted by Harris Insights & Analytics (Harris Poll) shows that in the 16-19 and 20-39 age groups, 74% of people don’t want to see messages from brands in their newsfeeds. Over a half (56%) of users became less active in social networks or completely left services because of excessive advertising.
The social media crisis is obvious: users are disappointed because they do not get what they want, content authors do not receive the fair reward, and advertisers pay for annoying ads, which does not sell.
Monoreto, the next generation social network, introduces an innovative solution. The blockchain technology will help to maintain the process of user interactions. Tokens of the social network will allow conducting transparent and open transactions, bound to usual actions in social networks.
First, the developers of the