The EMOGI network builds the framework for censorship-resistant distribution of media. To effectively spread information in the modern economy, people, journalists and businesses are required to work with centralized, often agenda-driven intermediaries. These are the media giants of the world — both government-sponsored and monopolistic companies operating walled-garden content ecosystems. These platforms make the rules and have the power to anoint winners, naturally incentivizing cronyism. Through effectively deployed blockchain technology and a thoughtfully-designed incentive structure, the EMOGI network is a vehicle to eliminate the rent-seeking intermediaries standing between the people and the truth.
The EMOGI network is designed as an open and permissionless system with proof-of-stake validation and rewards. In short, anyone can participate, and economic outcomes are determined by the marketplace. The medium of exchange in this marketplace is the EMOGI token, a highly liquid unit of account designed to incentivize good behavior from all marketplace participants. Through the team’s consumer-facing products Berminal and Bermi, EMOGI is already one of the widest distributed utility tokens in the world — as millions of users are acquainted with EMOGI tokens as a medium of exchange on the two platforms.
The marketplace is designed for three types of participants: content creators, content validators, and consumers — each playing a critical role. Creators have media they want to spread — theoretically anything including news, videos, podcasts or press releases. They put out a bid to promote their media and attach EMOGI tokens as a bounty for distribution or make available for direct purchase. The content validators, elected by the community, are tasked with picking the content they want to disseminate to their audiences. If a validator accepts the terms proposed by the creator, the validator collects a bounty or pays the fee and disseminates the message on behalf of the content creator. Validators theoretically have the option to share revenue with their audience, and consumers can theoretically purchase premium data or information directly from creators. Many dApps can be built on top of the protocol to address additional use cases and consumer demand.
As the ecosystem develops and economic activity increases, you’ll see creators, validators and consumers will all hold varying amounts of EMOGI as the utility and usefulness is realized on a regular basis. One of the reasons our social platform Bermi has resonated so strongly in Latin America is because many of the countries have high levels of distrust in media, government, fiat money and their banking systems. As Bermi grows in Latin America, so does the concentration of EMOGI holders in tight proximity. With this, we expect network effects to take hold and people to find value in using EMOGI as a medium of exchange in the $100 billion Latin American remittance market. The team is in active conversation with major players in El Salvador and the Dominican Republic about a EMOGI wallet application for its citizens, with built-in integration with select banks and retailers.