#CryptoCorner: Bill Ottman, CEO of Minds, Talks About the Importance of Free Expression on His #Blockchain Based Social Network @minds
#CryptoCorner:
Bill Ottman, CEO of Minds, Talks About the Importance of Free Expression on His
#Blockchain Based Social Network @minds - Minds.com is a blockchain based, open-source social
network; Stocks discussed: (NasdaqGS: $FB) (NYSE: $SPOT) (NasdaqGS: $AAPL)
(NasdaqGS: $GOOG)
August 21st #CryptoCorner and Podcast sponsored by Crypto
payment tech, #Flip @FlipToPay ($NXTD) and #AI, #IoT, #Blockchain, #Crypto
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Point Roberts, WA, Delta BC August 21, 2018 - Investorideas.com,
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Crypto
Corner August 21, 2018
#CryptoCorner: Bill
Ottman, CEO of Minds, Talks About the Importance of Free Expression on His
#Blockchain Based Social Network @minds
As
mainstream platforms like Facebook (NasdaqGS:FB), Youtube, Spotify (NYSE:SPOT) and Apple (NasdaqGS:AAPL) appear to be wavering on their commitment to free expression,
many users are becoming disenchanted and seek more open alternatives. One such
alternative is Minds.com, which is an open-source social network running on the
Ethereum mainnet. Bill Ottman, the company’s CEO and co-founder, explained the
platform’s commitment to free speech and how this has been the norm of
successful social networks for most of the internet’s history.
“We’re
completely dedicated to free expression,” he said. “As long as it’s lawful in
the U.S., it can be online. This has typically been the stance of social
networks and most internet companies for a long time and it’s only recently that
there’s been this strange clampdown.”
Ottman
said censorship will only stifle the popularity of social networks and that
rather than policing their own user base so much, big platforms should work to
exert a liberalizing influence on less tolerant countries.
“The
free internet is going to win no matter what in the end so it’s really just
going to cause more issues for these big companies,” he said. “The fight should
really be in convincing these more oppressive censorship regimes to change
their policies. That’s where Facebook and Google (NasdaqGS:GOOG)
should be putting their energy, not into censoring their own platforms more.”
What
sets Minds.com apart from its competitors is a ERC-20 token reward system,
which pays users for contributions to the site. Ottman explained how users
exchange tokens for promotion of their own content or as a means to patronize
other users, and how cryptocurrency was indispensable.
“You
earn these tokens and then you can spend them to boost your content for more
impressions, or you can send it peer-to-peer to other users on either a
one-time basis like a tip, or a monthly subscription and that will give you
access to exclusive content or other rewards that the creators set,” he said.
“We’re really focused on helping users be rewarded and crypto is really
valuable for helping to achieve that.”
Minds.com
is not alone as a new social network, as sites like Gab and Youtube alternative
Bitchute are also becoming fairly popular. Ottman said he does not regard them
as adversaries as they do not deviate from the mainstream model enough to be
truly innovative.
“I
don’t consider any company that is not open-sourced to actually be
competitive,” he said. “It’s not actually a paradigm shift away from what the
establishment is doing. It’s essentially a more open version of what already
exists in terms of content policy, which is a good step in the right direction
but it’s not where things ultimately need to move when we talk about a truly transparent
and decentralized internet.”
Sam Mowers, Investorideas
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