A Space-Time company
Why are we talking about smartphone cameras under social media tab? For now, this is where most of the images taken end up. On social media platforms and how we interact with these two applications daily. Lets talk about the popular social media platforms, Facebook, Instagram, Snapchat, and WhatsApp. To our concern a giant amount of images end up on these platform unauthorized and unregulated.
Simple ! Its a knock-off of Instagram…..but better and with money. Every like is paid and you eventually earn over your likes, shares, comments and saves.
Open Social app interface from the home
This is your feed, this feed display your #hashtags, following and images from open market that are yet to be minted
Like, Comment, Share or Save a photo, each action will enable you to co-own the photo. You will be rewarded fractal ownership against your backing. Once minted, this photo will derive you a weekly dividend.
You can tap on the photo to reveal its info, here you will find how much the photo is selling for, is it already minted? or in open market? where it was taken? who owns the photo? How many likes, comments, shares?
"The ease of instantly capturing and sharing every moment with the world through a camera and social media has made images a fast, massive, widely consumable product without us realizing to regulate its supply and demand; and create an architecture to protect the interest of users and their data."
Our obsession with taking and sharing pictures gives the market a space to explore and expand, while the whole space is unregulated and phenomenon’s like fake news and data privacy lurk around from the dark side, people are getting more conscious and aware about sharing their private data online, though they are still addicted or used to the current models which allow them to be social, short term fixes like data privacy updates won’t last long for current models, a long term architectural solution is required.
Users need a platform to trust their data with, unlike centralized platforms a decentralized platform can bring a collective trust. Blockchain as technology creates an opportunity to maintain a distributed ledger to record image data on both private and public books at the same time. Ownership can be validated at any point due to the nature of distributed ledger system. Distributed ledger system enables a whole new subspace to evolve, if we can authorize who the owner is, we can also validate the transfer of ownership. Recorded as transactions(NFT) on the Blockchain, images become a tradable commodity. Where people, governments, organizations, brands can co-own and regulate data.
In Kenya, for example, the cost of sending remittances dropped by up to 90% after the introduction of M-Pesa, a digital payment system. New technologies allow women to participate more easily in the labor market as e-commerce entrepreneurs, in online work, or business process outsourcing. The world’s 1 billion persons with disabilities – 80% of whom live in developing countries can lead more productive lives with help of text, voice, and visual communication. And digital identity management systems can provide better access to public & private services for the 2.4 billion people who lack formal identification records, such as birth certificates. The internet can lead to more trade, better capital use, and greater competition, the basic roots of information technology affects three players of any economy: Land, labor, and capital. In the presence of regulators and facilitators, technology can bring inclusion of all, efficiency, and innovation.
Everyone, including Pixelate gets a weekly dividend against their vesting value. A smart contract of such kind will automate the whole process to run a live market with top hashtags to be traded as index funds. One can either vest against a private key or public key, private keys can limit someone from posting or vesting any kind of value against a given geological location of a café, museum, holy place, tourist attraction, or concert. Brands can take ownership of an entire hashtag, stadiums can control a time frame of images taken and add value to those images for promotion of an event. This generates an opportunity for the social media influencers to sign contracts to share the value generated through their images, governments and organizations can autonomously invest in order to promote tourism in specific areas.
Current companies and platforms form a star system where winner takes all, but if you look closely at platforms like Facebook groups/pages, Reddit, or Quora, they are very dense with community interactions. Most people are interested in large numbers of people and so you don’t have as much of a star system, that means if it were a monetized system, it would naturally give rise to middle class so there’s this amazing possibility that if information cost something the way they’ve been, if who recruited the society would not be like another star system of winner-takes-all but instead of the middle class without having specific levee, that might happen naturally for the very first time in the history of capitalism.