On the day when Facebook bans cryptocurrencies ads, this interview could not have come at a better time. We'd like to introduce you to Rosemary O'Neill - she's 1 of 4 members of the leadership team for Narrative, a network that's controlled by those who contribute to it.
They're currently in the middle of their ICO and we've invited them onto our platform to you guys about their ecosystem and why you might care. If you're ever used Steemit, you might notice how heavily one sided the content is towards cryptocurrencies. That's all well, but Narrative wants to bring this type of self-governing content sites to the masses.
We've asked Rosemary a few introductory questions to kick it off and you can learn more about their project in the whitepaper.
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1. What are the differences between your platform and the others that exist currently?
There are others who are trying to do "social on the blockchain" to varying degrees. Steemit is a great example of establishing the market for social content that's monetized on the blockchain. However, Steemit is not very user-friendly for non-crypto people, with multiple tokens, multiple logins, difficulty searching, and a lot of low-quality content. Narrative will leverage blockchain where it makes sense, for the transactions, while employing more traditional methods for content management, to allow easy editing, searching, and speed.
Hard Cap: 166,667 NEO
Payment Methods: NEO
Total Cap Size: 50 Million
Technology: Content Platform, NEP5 Token, Blockchain will be different (considering IOTA, Hyperleger, etc.)
Pre-ICO Date: Currently Running till Feb 9, 2018 (UPDATE: SOLD OUT)
Public Sale Date: Feb 13. 2018
2. What niches do you plan on attracting for your go-to-market strategy?
There are a lot of huge niches that will be ready to consider a new alternative, including family/mom bloggers, sports journalists, fan fiction writers, and technology content creators. We aren't pre-releasing a list of influencers yet, but we will share that information when we get closer to platform release.
3. How does your platform decide on what quality content is?
That's the great thing about Narrative... the company won't decide, rather the members themselves will decide by voting up content, voting down content, and tipping great writers. Every Narrator will build a reputation over time based on their content ratings and how their own votes compare with the votes of the community at large, among other factors.
4. In your words, how would you describe a "content currency"?
In the current scenario, your profile data (and attention) are the currency. If you're using a platform now and you're not paying, then you are the product. In Narrative, currency and rewards are purely driven by high quality participation, whether that's publishing great content, moderating a vibrant Niche (subject-space), or participating in community policy decisions. Our NRV token will be the underlying utility that allows transactions within the platform.
5. How do you envision the governance of ads to be carried out?
We haven't released details of the ad program yet, and that will be incorporated in 2019, but we will be allowing the members to vote on which ads they are willing to allow into the platform. We are also committed to full transparency regarding ad relationships, where members can choose to share their profile data with advertisers in exchange for rewards.
6. What is Chaucer and how does the common person get involved when it's running?
Chaucer is the code name for our early Alpha release, expected to go public on March 22, 2018 at the end of our public token sale. The Alpha will be a test of our Niche Management system for Narrative, starting the feedback conversation with our users. At a minimum, anyone who contributes to our Token Sale will be able to register for Narrative’s alpha (using the same email address they registered with the Token Sale). In addition, contributors who are designated as “Founders” will have an exclusive period when only they can reserve/purchase niches. That period will be at least 48 hours, but probably longer than that. Over time, we will open up registrations to others (non Token Sale participants), but the timing and method for that will be determined later and may depend on the activity level that we experience. There are still many details that we are working through, but we wanted to give everyone a heads up about what we are developing now and what you can expect to see very soon.
7. What made you choose the Neo platform over Ethereum?
We decided to make the switch because of faster speed, no transaction fees, and a more flexible development environment on NEO. We've had a warm reception from the NEO community, and are very happy we made the switch!
There's one quote in there that stuck out to me... "If you're not paying for the product, you are the product." Which is definitely true. Facebook has created a very centralized authority online and at the switch of a button they could drastically affect voting decisions, consumer sentiment, and probably turn a dog person into a cat lover. They really have that much influence on people's daily lives at this point.
When Facebook gets paid to serve you ads, we aren't allowed any kickback for contributing our content to the site. With these new decentralized networks like Narrative, that all changes!