First things first: Bitcoin is a wildly volatile cryptocurrency, and it’s worth separating it from the underlying blockchain technology trends. Bitcoin is no more synonymous with blockchain than Tesla is synonymous with transportation. We remain huge fans of the power and potential of blockchain, and see the potential to add trust to an advertising ecosystem that has precious little of it.
Three key points about SocialFlow’s offering:
1. Our Universal Attention Token is not a cryptocurrency. It is based on blockchain but think of it as more of an accounting mechanism to measure and build trust.
2. We have “tokenized” our capital raise to increase the prospects of liquidity for investors. Traditional venture investments are illiquid, and blockchain-based security tokens have the potential to change that.
3. Publishers and their high-quality content represent the foundation on which we are building.
We appeared on Bloomberg Radio with Lisa Abramowicz, Pimm Fox, and guest host Chris Ailman (Chief Investment Officer of the California State Teachers’ Retirement System). Some of the key elements of our conversation were around publisher monetization, trust in digital advertising, and how blockchain can be used to improve the ecosystem. Chris argued, “Users should be paid for their attention!” and we agree. It’s just that the “payment” is free content and not cash. Getting paid (for instance) 2.6 cents by Home Depot for 20 seconds of our attention is not an attractive user experience or value proposition. Better to use the economic value to reduce paywalls and pre-empt the worst advertising (“Lose belly fat now!”).
Tech Under Pressure
The pressure on technology companies continues to increase, with the news that the U.S. Justice Department and state Attorneys General are investigating platforms for suppressing conservative viewpoints. We talked with Stuart Varney on Fox Business and Bloomberg Business News Network about this, and argued these points:
There is work to be done here to ensure that people are being treated fairly, but right now we’re having the wrong conversation.
It’s really important to understand that your experience on Twitter and my experience on Twitter are almost completely different.
The whole “tech companies unfairly target conservative posts” presumes that if my content is not being seen, that somehow I am a victim. Maybe. But I’m the CEO of SocialFlow, so when someone types the word “social” into the Google search box, I, of course, want them to see SocialFlow. If they instead see “Social Security or “Socialism,” does that mean I’m being discriminated against or shadow-banned?
The Universal Attention Token
SocialFlow’s UAT won’t solve all these problems. But it’s a step in the right direction: building trust, providing fair compensation to publishers, and a better experience for users. Interested in investing in our Universal Attention Token Ecosystem? Learn more atstartengine.com/socialflow