The Context Podcast - David Orban
The Context: BitClout is the next generation of social networks
In the world of Blockchain, we periodically have waves of enthusiasm and innovation, where new ways of implementing and leveraging this technology is explored by an increasing number of people: developers, investors, users, experimenters of all kinds.
BitClout as of today is barely 2 weeks old, but already about 100,000 people signed up to play with it, and you can too.
BitClout is based on its own blockchain and has a native token, and the user interface looks very much like Twitter, where you can post, reply, like, and there are users that you can follow and be followed by them. The big difference is that each account, in turn, has its own native currency.
On BitClout what you can do is to put money in the creator coin of the people you like and you follow, and that of course will inspire them to keep doing what they do and what you love, but rather than just having that as a return, you will have a potential financial return as well. The reason is because, as more people put money in the creator coin of a given account, the value of that account will go up. When anyone decides to sell the Creator coin, the value of that coin will go of course down. As you can see, BitClout created a market in the consensus of the value around an individual. You’ll be able to find millions of people who follow you today on Twitter, and these people may follow you on BitClout as well, and they might invest in your creator coin.
There are many important consequences:
A business model that is not based on advertising
No need to exploit the data of the users
A decentralized uncensorable base of posts
The possibility of developing alternative user interfaces
A platform with APIs for second layer applications (imagine DeFi on BitClout)
We will see over the next few months how the platform will evolve. I am optimistic and invite you to experiment with it.
My BitClout account is http://bitclout.com/u/davidorban, and I hope to see you there!
Brought to you by David Orban of The Context Podcast - David Orban