The Vision
An overview of what the Social Market believes and aims to accomplish.
Last updated
An overview of what the Social Market believes and aims to accomplish.
Last updated
When Bitcoin was introduced in 2009 by Satoshi Nakamoto, no one could have imagined it would become as big as it is today. This led to a massive disruption to traditional finance systems because the world had never seen anything like it. Bitcoin pioneered blockchains, peer-to-peer transactions, secure and transparent ledgers, and the disassociation of central entities. We highly recommend reading the Bitcoin whitepaper to learn more:
https://bitcoin.org/en/bitcoin-paper
Not long after Bitcoin, other prominent blockchains were released like Ethereum which pioneered smart contracts and Ethereum Name Service (ENS), or Flux where developers could launch apps or infrastructures on the blockchain instead of using AWS or Google Cloud. Over time, we have seen a slow shift from decentralized finance (DeFi) to other integrations of blockchain technology. And now, we can find decentralized social media with the decentralized social (DeSo) blockchain.
DeSo is a core backend component to Social Market, where we believe we can use blockchains and cryptocurrencies to help starving artists, upcoming influencers, and any other social media user. For more information on DeSo, we highly recommend reading their vision:
DeSo is already doing the hard part, which is to allow individuals to engage in a secure and permissionless way online; and since all blockchains are native money embedded systems, this means that Deso also includes online financial uses. Until this point, all transactions required copying and pasting the specific address or the public key of another wallet, which easily allows mistakes to be made. If one is not careful, they can accidentally send all their money to an unknown wallet through a simple typo. ENS originially solves this by converting long strings of random characters to english unique tags. DeSo expands this by making it so if you have a friend or a known recipient, you will not have to go through extra steps to register and buy a domain in ENS. This is where Social Market comes in. By connecting all our users to DeSo, they can start building an audience with direct monetization opportunities. With the direct monetization feature, solving the starving artist problem becomes much more possible, by empowering them financially and giving them access to an audience of innovative, supportive, and visionary minds.
If anyone wanted monetary support from traditional finance systems for their projects, brands, and companies, they would depend on central entities and lengthly legal step-by-step processes to securely get investments.
Starting a company, a brand, or project alone is not something all 8+ billion people can do, therefore it is a privilege. However, we believe in the same principles and ethics of Bitcoin and blockchains which is to empower individuals. This introduces the social market. DeSo already created a feature where anyone who creates a wallet also receives a utility token that others can trade and earn to financially help the owner of the utility token, known as Creator Coins.
In traditional finance, any company gets a stock but it takes a considerable amount of time and effort for it to become publicly accessible, known as an Initial Public Offering (IPO), for individuals to invest in it. Yet, many companies don't make it this far. To empower individuals in this new financial era, this process has already become faster thanks to peer-to-peer transactions. Creator Coins allow anyone with an account or wallet in the DeSo blockchain to start earning. Here's how to do it:
Launch a project, brand, or company on-chain.
Start crowdfunding and fundraising.
Engage in a DAO with token distribution for governing individuals.
Create a loyalty and rewards program or DAO.
Make use of revenue sharing (similar to shareholders in a company).
Incentivize engagement.
These are some examples of how anyone can open up the same opportunities as those who are running a company or creating a new one. The mission of the social market is to empower individuals and the creators of this century the same way traditional finance has empowered the original stock market. But in the end, investors don't invest in companies or ideas immediately, they invest in individuals, much like how Social Market aims to empower individual content creators.
Throughout history, the best creators, engineers, and talented individuals had mentors. Leonardo DaVinci's mentor was Andrea del Verrocchio who was a sculpture and painter. Nikolai Tesla's mentor was Sir William Crookes who was a chemist and physicist. Anyone, with the right motivation and knowledge, can become capable in their own fields. Some say the few are just lucky, but we believe there are only a few "lucky" ones because of an abundant lack of opportunity to empower them.
For individuals to access to the resources and mentors they need, they also need to access a network of high net worth individuals or experts in their own fields. Talented and high net worth individuals are scarce in this world, but often gather in organization or groups. It can take a considerable amount of time for individuals to join because of a lack of awareness where to find these people and groups. With Social Market resources and tools available, anyone of any background that have something worth sharing or building can use our platform. As mentioned in The Social Market™, there are plenty of ways for individuals with a company, brand, or project to reap the power of peer-to-peer transactions.
Solving the starving artist problem would have been approached differently if Bitcoin had not proposed decentralized money. But we believe this is the best course yet. Just like how Bitcoin is empowering individuals with peer-to-peer transactions, we are expanding that idea and vision to the individual creators of this century.
