ICO Countdown - SocialCoin

2017/12/01 13:36:26

SocialCash mission is to reward Users for creating, authenticating and sharing digital content on the blockchain in a new digital social crypto-currency called SocialCoin.  

SocialCash technology is the “new unlock” of the new Social Sharing Economy – Web 3.0

 

Social Sharing Economy – Web 3.0 (Internet of Value)

Social sharing of information creates economic value.  Social media and the Internet have made it possible to exchange information at a rate never before seen.  This exchange of information is increasing at an exponential rate through sites like Facebook, Twitter, Instagram, Pinterest, Snapchat and more.

As published in ICO Crowd

Algorithms – SocioEconomic Gap widens

Yet not everyone is profiting equally from it.

Content hosting services, social media giants and advertising intermediaries are hoarding huge sums of the revenue by adding algorithms that limit your reach to your friends, followers and target market. Meanwhile the users (typically Gen Y and Gen Z) who create, curate and share the content take away little or nothing from the value they help create, effectively becoming cogs in the wheel of these tech giants.

Problem – Social Media “Gatekeepers”

Social media intermediaries act more like “gatekeepers” rather than unlocking value between Advertiser and Users who share digital content.  These platforms create complexities while profiting from these inefficiencies.

This problem is magnified by the fact that most social sharers are part of a younger generation that are economically disadvantaged.  Even though these younger generations are creating significant wealth through information sharing and content creation, they are not being economically rewarded for their efforts.

This is a societal epidemic of gross proportions.

SocialCoin - New CryptoCurrency of Web 3.0

Social Cash Exchange (SCX) is implemented as an universal trading platform for businesses related to social exchange.  SCX deal flow takes place through the use of smart contracts, while the transactions will accept a new type of cryptocurrency called “Social Coins”.  

Advertisers purchase Social Coins and Users redeem Social Coins through the SCX via their digital wallets (Smart Wallets).

Social Contracts can be applied across multiple social media platforms and across multiple jurisdictions to reach national and international Users which makes them effective for advertising by leveraging the benefits of a decentralized blockchain model.

SocialCoin Industry Specific Applications

SocialCash can be directly applied to:

  • Social Media Marketing
  • Cross Platform Marketing
  • Product (Ad) like’s and sharing for TV interactive and streaming (ott);
  • Music sharing (for profit or cause); and
  • Political Ad sharing.

SocialCash solution allows for:

  • Targeted audiences to share a message amongst their peers – providing mutually rewarding feedback e.g “liking” an online ad can be rewarded by the advertiser as well as provide meaningful analytics and means for the advertiser to remind the audience of the potential purchase without interrupting the streaming content flow. – Allow streaming content providers to compete more effectively for advertising spending.  
  • 2017 TV ad spending will total $72.01 billion only 35.8% of total media ad spending in the US.

Problems We Solve – Advertisers and Consumers

SocialCash uses blockchain technology to authenticate users on the blockchain to solve for transparency that is destroying value for modern Advertisers using conventional platform-based social media platforms. Social Contract verifies Users on the blockchain while incentivizing new target market Users to join the blockchain and share   targeted campaigns.

                                                                       

We solve this problem, not only for Advertiser, but also for the supply chain comprising the platform-based social media companies. The technology provides a layer of risk management and audit for campaign metrics which is verified on the blockchain.

How It Works

Advertisers need to increase sales by leveraging Consumer referrals. Advertisers purchase SocialCoins to incentivize Users to share their digital campaigns on popular social media channels with their network.  Consumers earn SocialCash by sharing digital campaigns broadcast from these social media platforms with their network. Consumers also earn SocialCash by creating, and sharing their own digital campaigns (#hashtagBrand).
Through various APIs to social media networks and our internal network the system sends out an update to Social content distributors (our users) that a new social contract has been created and can be mined.
SocialCash miners share the digital campaigns through their Social Media Channels to generate referrals (likes, reshares) and ultimately capture new monetization opportunities for Advertisers.
For sharing the links and generating activity our users will be asked to provide proof of sharing through our proprietary Proof of Sharing blockchain technology.  This proof will result in the creation of a newly minted SocialCoins.  SocialCoins are earned only as campaign goals are reached by the Advertisers.  Users convert coins to fiat currency (e.g. USD) using their integrated smart wallets.

 Protected by U.S. Patent 9,647,911 issued May 7, 2017

Paul A. Taylor

Chief Executive Officer – SocialCash

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Paul is an Investor, Advisor and Cofounder of several Startup Technology Companies. His current passions include the impact of distributed ledger technologies including blockchain, digital assets, cryptocurrencies, smart contracts and their applications to modern platforms.

Paul is CEO of SocialCash (www.socialcash.io), a fintech crypto-focused startup based in Los Angeles, California using blockchain to disrupt disrupt digital advertising. Social Cash rewards Users for authenticating and sharing digital content on the blockchain in a digital currency – social coins. The technology converts social kudos (sharing) into social currency (social coins). SocialCash is the next “unlock” of the Social Sharing Economy (Web 3.0) enabled by blockchain.

Over the last 15 years, he has been a serial entrepreneur and has cofounded, or acted as an advisor to many SaaS-based platforms across various verticals including advertising, legal and finance. He is also listed as an Inventor in several US and foreign patents.

Recently, Paul was cofounder of QponQrush (www.qponqrush.com), a digital ad tech platform enabling Advertisers to target their Millennials consumers on social networks.

Paul is an avid runner, cyclist, and snowboarder and grew up in London, England and Calgary Canada. He currently resides in Newport Beach California

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