Social Media Decentralized Autonomous Organization (SocialDAO)
The social media decentralized autonomous organization (SocialDAO) will be decentralized.
There will be a decentralized advertisement exchange. Entities can buy advertising that will go alongside hosted content. Users will have an option to pay to not see advertisements.
The SocialDAO will sell memberships to not see ads. Revenue is derived from advertising and membership fees.
The system will use a distributed cloud hosting system like IPFS, Golem, Storj, or Sia to host content and advertising.
Those that host content are paid in SocialDAO cryptocurrency, called SocialNectar (SNTR), for now. People can also mine SocialNectar.
Those that publish content will be paid with SocialNectar if their content generates advertisement views and member engagement.
Those that curate content will be awarded SocialNectar.
People will be able to ideally transfer SocialNectar to cryptocurrency exchanges to exchange it for fiat dollars and other cryptocurrencies.
The social media services provided by SocialDAO should be able to replace Twitter, Facebook, Reddit, Instagram, and Snapchat.
Steem and Basic Attention Tokens are projects that already exist that are inline with SocialDAO.