Synereo announced today the release of its first “Attention Economy toolkit” component: Synereo Qrator – A tool that allows users to monetize original content, get rewarded for sharing quality with others and find the best content on the web.
Qrator will be released as Beta in June, and lead towards a decentralized “Attention Economy Layer” in the months to follow, including a distributed content delivery network, allowing users to directly upload content to the Synereo CDN. With the operation of Qrator, Synereo seeks to build a cross-platform social graph, laying the ground for the network effects necessary to bootstrap a fully populated decentralized social content app based on blockchain and distributed storage technologies, which will be built on the Qrator foundation later this year.
According to a blogpost published by Synereo, Qrator’s closest touchpoint to the existing Internet is a browser extension that follows the user while browsing through content hosting platforms such as YouTube, Soundcloud and the like, and enables them to “amplify” content pieces such as videos, music clips or articles, using AMPs – Synereo’s native cryptocurrency.
Synereo explains that “amplification” in this respect means that the user has the ability to stake a customizable amount of AMPs on a given piece of content, spread it through various social channels, and collect an AMP dividend if the piece of content proofs itself to be accepted and reposted by their audience. Alongside, the creator of the content receives a share of every Amplification fee paid.
According to Synereo, this way, content creators can derive income from their work, while curators are incentivized to find promising content and distribute it among audiences interested in it. Additionally, content creators have the ability to stake a bounty on their content – attracting curators, and essentially amplifying their work in a traditional sense – breaking the boundaries of their organic reach.
Power users, meaning professional curators and creators, can monitor their statistics on the Qrator Dashboard and analyze the added value they’ve created in terms of reach and traffic, and understand how their curation activity affects their AMP dividends.
Explaining Qrator and its place in Synereo’s roadmap towards a decentralized social network, Dor Konforty, the company’s CEO stated:
“Or main goal at this stage is giving users a taste of how a network in which they are compensated for content creation and curation feels like. Additionally, Qrator will allow us to build a cross-platform social graph and bootstrap network effects on top of existing services. With this information and user base, Synereo will be able to hit the ground running with its decentralized social networking app – already populated with users, their social environments, identities and histories – all securely stored on the blockchain, privately owned, accessible and controlled by them only. “ Dor Konforty, Synereo CEO.
After the closed beta release coming June, Qrator will be connected to a decentralized Content Delivery Network, allowing users to directly upload content to a distributed hosting service, bypassing existing centralized networks such as YouTube entirely. With content hosted on the Synereo CDN, and user identities and social graphs being stored on a blockchain secured system, Synereo’s next step will be an independent social network with Attention Economy implementations.
Synereo is a Tel-Aviv based company which develops a decentralized social network and Attention Economy solutions – allowing users to monetize original content and get rewarded for sharing quality with others. Synereo’s CEO Dor Konforty is a graduate of the Israeli Air Force IT unit and has a master’s degree in neurobiology. His work on neural networks inspired him to develop a new type of decentralized economy.