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Kiks hope is that by moving its currency to the blockchain, it can generate both in-app value and real-world economic value. Follow on Twitter: @SunDhillon, blockchain could solve some of the key issues facing social media today. Many have watched closely (and profited greatly) as the value of Bitcoin has skyrocketed (and more recently, fallen and in perhaps the best indicator of public traction, cryptocurrency (and by association, the blockchain) became a Thanksgiving topic, as evidenced by digital currency exchange Coinbase adding.

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Kin is designed to offer incentives to developers and network contributors for bringing digital services, applications, and other value adds to the network, sans any middlemen. Here are three that are particularly exciting in the realm of social media. Rize, from the popular live streaming app. Identifying and Rewarding Value in Social Networks.

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GIF of David Bowie upon his passing, but eventually lost attribution as it became widely shared across Tumblr and Instagram. Imagine investors helping with introductions for the management team, brands bringing product promotions or launches onto the platform, or influencers moving their content from to Kik to improve their revenue stream.

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The teen chat app recently launched a cryptocurrency called. Valley Voices, Contributor Voices on technology and change Opinions expressed by Forbes Contributors are their own. YouNow, are seeking to restructure the social media model, one of the most popular attempts is by an existing incumbent in the space, Kik. An artist named Helen Green created. Sunny Dhillon is a partner at Signia Venture Partners, a Bay Area-based 85 million venture fund.

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For example, Barack Obama produced the most liked tweet in Twitters history, but received no reward for doing. The long-term vision is to curate an in-app marketplace where brands can advertise directly to users via chat (e.g., access to VIP groups, coupons) and collect payment, while users can sell services to other users on the app.

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Much like in entertainment, where, SoundCloud, Netflix and others control user consumption, we consume social media on a handful of platforms that have achieved massive scale: Facebook, Instagram, Twitter, LinkedIn and Pinterest, among others. In a previous article, I covered how the entertainment industry is poised to benefit from advances in blockchain technology; in this article, I want to make the same argument for social media. These networks rely on ad-based business models, which share a major shortcoming: users, creators, and platforms are unequally compensated for their participation on the platform. This incentive model is no surefire success, however, as it invites investors to buy up tokens and bet on the volatility of their underlying value instead of contributing to the community. In-app currencies supported by blockchain technology can fundamentally restructure how users consume content socially.