As we can see from recent incidents world needs a new social media model! People care about their social media profiles and data privacy more and more. Don’t You think so? Ask Mark Zuckerberg about it!
Facebook has lost $138 billion of value in under 2 hours..
Facebook’s share price fell over 20 percent in after-hours trading today after the company announced its slowest-ever user growth rate and a scary warning that its revenue growth would rapidly decelerate.
Before today’s brutal Q2 earnings, Facebook’s share price closed today at $217.50 — a record high — but fell to around $172 after the earnings call. That’s a market cap drop of roughly $123 billion. In two hours, Facebook lost more value than most startups and even public companies are ever worth.
Why this is happening?
Privacy And Well-Being — Q2 saw the debut of Europe’s GDPR that forced Facebook to change its privacy policies and get users to agree to how it collects data about them. Wehner blamed GDPR for Facebook loss of users in Europe. That law and Facebook’s Cambridge Analytica scandal led the company to have to improve its privacy controls. These could make it tougher for Facebook to target people with ads or show their content to more people.
Meanwhile, Facebook has continued to adopt the “Time Well Spent” philosophy, removing click-bait news and crappy viral videos that lead to passive internet content consumption that studies say is unhealthy. Instead, Facebook is pushing features like Watch Party where users actively interact with each other. Those might not produce as much time on site and subsequent ad views, but CEO Mark Zuckerberg said the changes are “positive and we’re going to continue in this direction.”
Slowest-Ever User Growth Rate — Facebook’s monthly user count grew just 1.54, compared to 3.14 last quarter. Daily active users grew even slower at 1.44 percent, compared to 3.42 percent last quarter. For reference, 2.18 percent was its previous slowest DAU growth rate back in
The Shift To Stories — Facebook estimates that by in 2019, sharing via ephemeral vertical Stories slideshows will surpass sharing via feeds. The problem is that advertisers may be slower than users to make that shift. “Will this monetize at the same rate as News Feed? We honestly don’t know” COO Sheryl Sandberg said. Stories ads might be full-screen and more immersive, but they don’t show off links to online stores as well, nor are they as well optimized from decades of banner ad experience by the industry.
Luckily, even though Snapchat invented the Stories format, Facebook has far more people using it each day, with 150 million Stories users on Facebook, 70 million on Messenger, 400 million on Instagram, and 450 million on WhatsApp . If Facebook does manage to figure out Stories ads, it could dominate, but it could take years for its advertiser count and ad prices to rise to offset the shift away from feeds.
As we might see now, old social media model needs a lot of improvements and people started to fight with it. Provoco team believes that we have solutions to current social networks issues!
We see an opportunity to bring our new social media model as we see demand for changes.
Solution for data
All the critical social profile data will be logged as a hash signature on to the Ethereum blockchain using anonymization algorithm, ensuring that all your stats and history legitimacy are private, verifiable or destructible on demand. Any manipulative actions (buying followers etc.) will be easily traceable and virtually impossible to hide or forge. The cryptographic strength of the data legitimacy will be equal to the strength of the entire Ethereum network.
Get reward for Your content
Facebook’s product is not the platform, it’s us. If the product is what a business sells to make money, then Facebook’s product is our attention and data. We are the product. And Facebook’s customers are the companies buying ads based on that attention and data.
With Provoco transparent reward system. You will be paid with VOCO tokens for creating, participating, supporting challenges!
Creating challenges with PROVOCO, will let a user to incentivize and reward people who actually do something that he/she initially intended to achieve; assign the reward pool to multiple beneficiaries of their choice, including charities.
Provoco aims to bring new winds into social media sphere. As we see demand for it right now. PROVOCO is a new, challenge — oriented multimedia social network project, with cryptocurrency — based financial rewards ecosystem, instant P2P value transfer option, Smart Contract features. New transparent social media model with the power of new technologies will change social media networks forever!
You can change social media industry with us!
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It’s time to challenge ourselves and others around us!
