One step further goes Synereo`s chief executive Dor Konforty. He`s aiming at nothing less than bringing down the monopoly that large internet companies such as Facebook and Google have in generating income from online content and its curation. His aim is to, "completely liberate this economy from all these very centralized, very unfair centers of power."
He argues that users are being treated merely as "cogs" in the wheels of the large internet companies that profit from the content that they upload and share. "We`re not rewarded in any way for creating all this value, for organizing the information on the internet as it is today."
He`s set to introduce his first product as a beta-release at the end of this month. Called Wild Spark, the idea is to use a cryptocurrency issued by Synereo called AMP, for amplify, to attach value to content.
"We`ve created this game where everything eventually flows up to the creator but anyone who`s part this value chain by being a curator by finding audiences that are interested, gets rewarded," says Konforty.
Synereo conducted Initial Coin Offerings in 2015 and 2016, raising $5 million, he says. There are about 900 million AMPs trading at just over $0.50 at the time of writing. Blockchain is important in several ways for the system he`s developing: "It`s a cryptocurrency, you can do micro-transactions, you can easily transfer amounts without a credit card or banks from person to person online.
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