Introduction Nuvo, a blockchain network for decentralized social media communities

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Introduction

Nuvo is a blockchain network for decentralized social media communities, with an objective of overhauling the social media experience in the best interests of the user, by adhering to three core principles; Community, Fairness, and Expression.

Community

Social networks such as Facebook fall short in that they take a “wholesale” approach to human interaction. Whether you are in the United States or Uganda, Facebook works the same way. The Nuvo network is designed to underlie multiple niche social networks, each of which is developed for a specific country or region. For example, there will be one network for East Africa, specifically tailored to the region’s social customs and local laws. Likewise, there will be another network for Southeast Asia, specifically tailored for its social customs and local laws.

Fairness

Today, hundreds of millions of social network users willingly commit their attention and personal information to a company that will go on to sell these things, at no net benefit to the user. The Nuvo network’s blockchain is built to make micropayments to users in exchange for their attention, as well as to content creators and curators. Aside from enriching user engagement levels, users are given the comfort of knowing that they are not being unethically spied on by advertisers.

Expression

In many non-democratic countries, the integrity of news media is an enormous issue. Moreover, with the “filtering” capabilities of modern social networks, it is easy for corrupt bodies to push an agenda at will. The Nuvo Network is completely user-driven, and it is controlled by its blockchain, which is controlled by its users by way of voting. This enables social networks built on the Nuvo Network to be immune to censorship, delivering a level of truth and authenticity that in many regions is unforeseen.

The Attention Economy

Historically, all social media business models - past and present - have relied on the viewership of people on posted content in order to operate. The whole point is to get the attention of users. These users are central to the entire ecosystem, because their attention can then be sold to advertisers. Without their attention, the whole social media ecosystem would collapse, because there would be no attention to sell to advertisers. Content producers also wouldn’t make content if nobody paid attention to it.

What Nuvo and its social networks do specifically in terms of the future is disrupt the entire social media ecosystem from the state it is currently in. This is done by capitalizing on the dynamics of the new attention economy and changing how monetization in the social media ecosystem occurs.

Here is an overview of how the attention economy has evolved over the past few decades:

Back when the supply of entertaining and insightful content was very limited (e.g. movies, books, magazines, etc.), it was easy to get users to pay for content themselves;

As more content became available around the time the Internet was introduced, it was easy to provide content for free by subsidizing its costs with banner ads and sponsored postings. This is how business is done today in the social media space;

However, the "free social media" market has become saturated. With so many websites and apps now clamouring for attention, there exists an imbalance between the supply and demand for human attention, with a never-ending demand for it, and an ever-finite supply.

The Nuvo blockchain overthrows this model by creating communities in which all users are paid for their participation. Whether posting new content, sharing content from other places, or commenting/voting on content posted on Nuvo-based social media networks... all participation contributes to the integrity of these communities, which is why that participation is rewarded with a payment of Nuvo tokens, in the interest of a sustainably high-quality social media experience.

Nuvo is one of the first business models of its kind to tokenize a relationship with social media users and content, which makes the old models unsustainable. After all... why would anyone use social media for free when they could be paid for it?

When time is taken to understand how limited of a commodity the attention of viewers is, it becomes abundantly clear the social media sphere is ripe for tokenization in recognition of the value of that commodity.

The News Feed Bias Crisis

In the past several years, the lack of neutrality in social media news feeds has been a very hot topic, especially during the 2016 United States federal election, where it was revealed that Facebook inclines users’ news feeds to display postings, comments, and other forms of content that a user most agrees with themselves, and not opposing views 1. Moreover, some regions have been outright neglected by networks such as Facebook, a deficiency that has been capitalized upon to spread fake news which, in many cases, has had fatal outcomes 2.

Social networks built on Nuvo use a chain-based voting process to determine what does and does not appear on users’ news feeds. This way, the community decides what content will be shown, not an advertising-based algorithm, or a back-end control system to push a political agenda. Nuvo-based social networks introduce a level of democracy that has previously been unknown in the world of social media.

Sources:

1: https://goo.gl/Y4rFkT

2: https://goo.gl/55ZQho

Attention Economy Case Study: Steemit

Steemit (http://steemit.com) is a website for blogging and social networking, which pays users in Steem cryptocurrency for both creating content (e.g. writing blog posts) and curating content (e.g. finding and recommending articles for others). It currently has more than one million users, and continues to grow as a platform that shifts the power dynamic from control belonging to the advertisers, to control belonging to actual users on the network. However – Steem, like Facebook, has a “generic” Western identity, which restricts adoption outside of the Western world.

While Nuvo has many similarities to Steemit, there are a number of key differences:

Nuvo operates on a DPoS (designated proof-of-stake) blockchain;

Each social network built on Nuvo is a freestanding app on the blockchain with separate content (Steem is taking a similar approach, but we believe it is inefficient);

Improved governance structure, with a fairer algorithm;

Penalties for downvoted content.

Social Media Communities on Nuvo

Jamaa (Africa)

Jamaa means Friend in Swahili.

We have identified a unique opportunity in East Africa to create a social community on the Nuvo Network called Jamaa.

With high rates of social media use, and persisting issues of media censorship and manipulation (even on networks such as Facebook and Twitter, where terrorists weaponize the lack of oversight of these platforms1) there is a need for an unbiased, community-based social network, which fundamentally differs from advertising-driven commercial enterprises such as Facebook.

Jamaa is presently live and operating with more than 13,500 users.

1: Democracy disconnected: Docial media’s caustic influence on Southeast Asia’s fragile republics

Tambay (Philippines)

Tambay means Hanging out in Filipino.

With distinct social and cultural differences compared to the rest of Southeast Asia, we have determined that it is best to build a Nuvo-based network specifically for the Philippines, a country that sees extraordinarily high levels of social media usage. A 2018 Pew Research Center study showed that while overall levels of social media use are about half of a country’s population, the level is 88% of the population in the Philippines1. Additionally, the pervasiveness of fake news in the Philippines is beyond critical; at the beginning of 2018, popular news site Rappler had its operating license revoked for spreading inaccurate stories about president Rodrigo Duterte, with Facebook playing a role in the process as well2.

Tambay is presently under development, and Nuvo Cash Ltd. will announce the availability of its beta version when it is live.

1: Social network adoption varies widely by country

2: Facebook attacked by critics over 'fake news' — but outside the US this time

GameKarma (eSports)

The Nuvo blockchain will allow for the creation of communities with any type of focus; whether that is regional, or interest-based. GameKarma will be a Nuvo-based social media community for video gamers, with content categories including popular video games (e.g. DOTA 2), hardware, and gaming strategies. There is still no major dedicated video gaming social network, even with the massive popularity of video gaming (i.e. in the UK, video gaming was a bigger entertainment category in 2018 than video and music combined1). With Nuvo Cash Ltd’s connections in the video gaming and eSports industries, GameKarma is being developed to meet all of the current and future needs of participants in these entertainment categories.

GameKarma is presently in the late stages of development, with an approximate launch timeframe of May 2019.

1: Gaming worth more than video and music combined

User Created Networks

As the Nuvo blockchain network is a decentralized commons owned by all of its participants, other parties are welcomed to build their own communities on Nuvo, with any area of focus. Nuvo Cash Ltd. is currently working on a streamlined launch process that will enable such parties to establish and build their own communities.

About NUVO Tokens

What gives NUVO tokens value?

The value of Nuvo is dictated by one simple idea; the more Nuvo a user owns, the more influence they have on the network. This influence can be used for any application of a Nuvo-based community and the Nuvo blockchain, whether it is influence in voting on content, influence in admitting a witness to the Nuvo blockchain network, or influence in an administrative process relating to a policy change of a Nuvo-based community (e.g. adding a new media category), or the governance of the Nuvo blockchain itself.

Communities built on Nuvo require a combined commitment of all participants in order to function. That commitment is a dedication to the spirit of the network, and what will benefit its community of users the most; whether that is relevant content, truthful news, or insightful media.

To ensure that users are serious about that commitment, one cannot simply join a Nuvo-based community and expect to have the same level of influence as an established member. Since established members will generally have a higher balance of Nuvo tokens from voting and making posts, that user’s votes will automatically have a greater influence than a new user’s votes. In summary, having influence on Nuvo-based networks requires “skin in the game”.

Since the tokens that enable this influence are issued in a limited supply with moderate regressive inflation, there is in an inherent value to Nuvo tokens based on their scarcity. This value will then be quantified by supply and demand when Nuvo tokens are made available on exchanges, thus creating an aftermarket for Nuvo tokens.

As a result, whether one has earned their tokens over time, or purchased them on an exchange with their own money, they have made a commitment of a limited resource (time or money) to have a stake on the Nuvo blockchain network, thus giving them influence on a given Nuvo-based social media community.

As there is equal opportunity for all users to earn or purchase Nuvo tokens, this makes Nuvo-based social media communities highly democratic in nature, which creates value for the users of these communities, as well as value for the Nuvo tokens themselves.

Nuvo Crowdsale Details

Total token supply: 4,000,000,000 NUVO tokens

Tokens available in crowdsale: 2,000,000,000 (50%)

Currencies accepted: Bitcoin (BTC), Ethereum (ETH), Probit (PROB), Ripple (XRP), Steem (STEEM), Tether (USDT)

Price per token: Equivalent to USD $0.0025 per NUVO in any of the accepted currencies (USD $1.00 equivalent is 400 NUVO)

Soft Cap: USD $100,000

Hard Cap: USD $5,000,000

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