Chaintope launched a new model to enhance social capitalism using blockchain technology
Chaintope recently launched a platform which would enhance social capitalism which is now better known as Masachain. The idea behind the phrase Masachain comes from the word “Masa” in Japanese “正” (masa) which translates to “positive” or “correct”. As its name suggests, Masachain hopes to handle the morally positive relationships and actions of all kinds of people while using blockchain technology to make sure that the data is recorded accurately without forgery or falsification.
The Masachain system architecture is built upon the Ethereum Blockchain using smart contracts. The idea behind it involves a token economy that allows social capital to be visualized. Through the visualization of people’s positive feelings such as “gratitude”, “empathy” and “support”, Masachain aims to create a new coexisting social and economic systems which possess new measures that help modern societies evaluate “values” that cannot be expressed economically. Masachain is effective if implemented in a wide array of communities. These communities can be of people with strong feelings towards serious social issues such as poverty and starvation, communities of people who enjoy living in a same town or city, communities of people who possess the same ideas and who wish to organize or plan events and solve local social issues and lastly communities that wish to embody a corporate philosophy that aims to contribute towards society.
As Masachain involves the visualization of people’s positive feelings, users are able to send five feelings per day and there is no limit to the number of feelings sent nor receive. Two points are rewarded for those sending feelings to another user while the user that receives the feelings from another user is rewarded with 10 points. The objective of these points is once the user has accumulated a certain number of points, this can be translated into Masa Coins which typically functions as tokens whereby you are able to withdraw them in cash or even send them to a friend as a gift.
The unique selling point about Masachain is that the app alone isn’t just to enhance social capital and create a harmonious society but to maximize economic value. With the exchange from Masa Points to Masa Coins, this creates value to a community for instance students in this matter. Students are able to raise funds individually should they need to acquire monetary help to fund their individual assignments. The analytics that is indicated on the database gets to measure what actions users are taking, as well as visualize user navigation paths and analyze the data to understand different groups of behavior and with the integration of blockchain, it helps to monitor the flow and avoid abuse of social capital or negative feelings which is then traceable via the blocks.
Although the concept of Masachain is still a very new kid on the block, the developing team of Masachain strongly believes that the idea behind it would definitely transform lives at least to the expense of creating a harmonious, positive and forward-thinking society. These fundamentals are essential not only in creating a harmonious community but in growing the country as a whole while Malaysia progresses from a developing nation to a developed nation in a matter of time.
Visit https://masachain.world/english/ for more info.
