Many people say that the current blockchain industry is like the Internet industry of 2000. The bubble burst and many blockchain projects and cryptocurrencies will perish like the companies during the Dotcom bubble.
Many of the big Internet companies we know today, such as Google, Apple, and Amazon, experienced the Dotcom bubble. There are also many great companies born after the bubble, such as Facebook and Airbnb.
Similarly, if 2018 is defined as the year of the blockchain bubble burst, then after the bubble, there must be a few remaining truly recognized blockchain projects and cryptocurrencies, as well as star projects and cryptocurrencies born after the bubble.
U Network (UUU), born in the bear market, wants to be more than the next Steemit
During January 2018, U Network, A Decentralized Protocol for Publishing and valuing online content, was born. This was when the blockchain bubble started to burst.
In April of 2018, U Network became known within the market as a project that could solve the issues faced by Steemit, or even become the platform to replace Steemit, which immediately caught everyone’s attention.
Everyone was looking forward to U Network providing a better content platform that solves the problems of click farming and big whales by filtering out better content through content prediction investment.
There are so many content projects trying to make a better Steemit, but U Community proposed by U Network managed to get recognized by the public.
But U Community is not the only focus of the U Network team. In addition, U Network is building the content ecosystem, not just the next Steemit.
U Network will create user-friendly and UUU-applicable content products in 2019
In 2019, you may be using the latest Apple mobile phones, computers, headsets, watches, and software systems within its ecosystem. In 1977, no one could have imagined of today’s Apple, even back in 2001, one would not have believed the richness of Apple’s product line today.
To come up with so many product lines, Apple has just been doing one thing: create products that users like.
Born in 2018, U Network has been improving its infrastructure for the whole year. It launched its Mainnet Ustart and two products ChongDong and U Got. But unfortunately, there are no UUU for large-scale use in 2018.
With the maturity of U Network’s Mainnet, as the UUU swap is approaching, the community urgently needs the massive adoption of UUU-applicable product.
Due to this and other strategic factors, U Network team is creating a content product with UUU usage scenario, which will be tested by seed users in the first week of March 2019.
U Network believes that creating a product that users like and that allows UUU to be applied on a large scale is the first step in building U Network content ecosystem.
U Network will transform content into assets and revolutionize content industry
Apple’s “Think different” slogan was created in 1997, which was widely regarded as a benchmark for IBM’s slogan “Think” and achieved great commercial success at that time. However, the slogan was discontinued in 2002 with the adjustment of Apple’s business.
U Network’s slogan changed from “A Decentralized Protocol for Publishing and valuing online content” to “Transforming Content Into Assets”. Unlike Apple’s response to competitors, it is more of a sum-up of U network from the strategic and target levels, a bigger blueprint which better explains that U Network is not just building the next content platform.
“Transforming Content Into Assets” is a process that is happening. To understand U Network’s role in this, you need to first understand the definition of an “Asset”:
An asset is a resource controlled by the entity as a result of past events and from which future economic benefits are expected to flow to the entity. It is the result of a past event or transaction.
Assets are likely to generate profits directly or indirectly at some point in the future. It produces economic benefits, also known as value, and the people who own it gain benefits.
And how to transform content into assets?
1. Gain ownership of the content. 2. The content can directly or indirectly help you make money at a certain time in the future, generating economic benefits and value.
Ownership of content is something many blockchain projects are working on, and ownership originally belongs to the creator, but U Network upgraded the ownership of content on this basis.
Stated in U Network’s first edition of the white paper, by allowing consumers of content to judge and invest in the future value of the content created through the design of the upvote, the consumers can enjoy the benefits of continuous economic generation along with the creators if others continue to invest in the content in the future.
This way, the onwership of content creates value for both the content creator and consumers.
For the content on U Network to become an asset, it must be recognized by the free market, which is indicated by UUU pricing.
When the free market and prediction market concept introduced in U Network form a reality in which only high-quality content can become an asset, then even the smallest entity can build a portfolio of its content on U Network’s content ecosystem.
If one day content can be treated and recognized by everyone like stocks, bonds and other assets, and everyone promotes and distributes content as carefully as assets, then the content industry is truly revolutionized by U Network.
U Network’s decentralized content ecosystem and changes to the content industry have just begun
Bitcoin brings the idea of decentralization to blockchain, but the organizational form of the blockchain project should start from centralization and gradually evolve into decentralization. Absolute decentralization is not a good thing, while the centralization at the beginning guarantees the efficiency of development.
U Network develops in a centralized + decentralized manner for both the blockchain and products, ensuring the efficiency of development. However, the communities that are centrally operated are gradually transiting into fully decentralized communities, and more and more community members from all over the world join the team that builds the U Network content ecology and builds the foundation for a decentralized content ecosystem.
Even with a 125-year history, Coca-Cola says it’s just getting started, so for the one-year U Network, the decentralized content ecology and changes to the content industry have just begun.
This article is dedicated to the first anniversary of UUU