MYRIAD SOCIAL : NEXT GEN SOCIAL MEDIA EXPERIENCE FOR WEB3
Myriad is a decentralised social platform where you can browse native content or content coming from mainstream social media, and send any tokens, starting with stable coins to artists and content creators, even if they aren't on the platform yet. Once they have joined, they receive their tips, and you get Myriad tokens as rewards.
Myriad grabs content from web to social media and turns every mainstream social media account into substrate tipping well that's effectively in the mirror yet bridges web2 and with web3, and does it through incentive, rewards, and monetization.
I am here with Gelong Gasca and Barton Jensen, respectively CTO and lead architects, Both pioneers in the blockchain industry Gelong is the founder of a leading blockchain consulting and development company in his home country and has developed several innovative b2b and b2c solutions, Barton is the co founder of blockchain Zoo, and he has developed a blockchain from scratch, including its consensus mechanism Barton will now take over for a while and let us know more about what MariaDB is all about.
Thank you Danny. So let's take a look at what the problem is that we're trying to solve here. The basic problem is that the incentives of large social media organisations are not aligned with the incentives of their users. Social media orgs are interested in making money, which means selling user data at the expense of the users who generate the data and means manipulating the speech which occurs on their platforms to appease the advertisers who pay, and increasingly to appease political interests which can pressure them back when social media words were smaller, they had the realistic threat of users, leaving their platforms, if they interfered with these users speech too aggressively. But as the big few have approached global market dominance, the realistic threat of users switching away from their networks has diminished enough, that now, they basically apply these policies with impunity. That's the fundamental driver of the problems with user experience on social media.
The Solution
So at Myriad, we've taken social media to a whole new level with unique decentralised tools that feature three revolutionary functions:
- sovereignty and real time importing of any other social media platform such as Facebook, Twitter and Reddit, without leaving myriad
- user set custom algorithms that put the customer in charge of the data that they stream, and
- cross platform token tipping, allowing myriad users to send tokens to the content providers on form, or any other social media platform.
The idea behind these systems is to give users the tools to prevent experience crafting by the network operators, and to put the incentives of users and network operators back on the same page.
By building feeds of content on other social media platforms out of content on other social media platforms. We don't need to wait for everybody to come over to myriad before the content is there, users just switch over to myriad and gain a degree of control over what they see and that they didn't have before.
We reshaped the advertising model in a decentralised way that's very easy for users to opt out of any experience crafting they don't like, and switch to another experience of the same data feed.
Empowering creators
So, the key here is that users are no longer held hostage by what the network operators with their own incentives decide to show them, instead of one network operator, we have Federation of network operators. So there will always be one who respects your speech, and users have tools out of the box to choose how their experience is organised in a way that cuts out the common channels, a network operator would typically use to influence what the user sees. This means you experienced social media in the way that's most productive for you, and not the way that's most productive for them.
Control to the users
So the way these big network operators, execute their influence is usually not by preventing someone from posting outright, although that does happen. The larger and more insidious way they do it is by using opaque algorithms to filter what you see, to put the stuff they want you to see on top to make sure you don't see the stuff that they don't like in myriad any user can create what we call an experience, which can be configured transparently with any algorithms needed to distil the feed into something a user can actually consume. So whether an experienced shows all the posts in chronological order, or only a subset of the posts filtered or ordered by some other criteria, the user can see exactly what the algorithm is doing, and they can decide whether they want to follow that experience for another one, or create their own. This gives them a wide degree of control over exactly how they're going to consume the media on the platform they always know if something's going to be filtered out or they can choose to unfilter.
Advertising without middlemen
Okay, so we developed an idea for decentralised advertising that features an incentive triangle. You've got advertisers who are willing to pay to get their ads seen, you've got experience creators who are configuring a feed that subscribe to by the users. And between them, you've got a thing called an ad space and a user who maintains that; experience creators choose what ad spaces they want to roll into their experience, like to show which ads are going to show up on the feed there to make sure that their experience remains high quality for their subscribed users. Advertisers then compete to get their ads, accepted into the ad spaces which are placed in the most highly subscribed user experiences where they'll be seen by the most users.
And the guy maintaining an ad space has to balance the quality of his space to preserve his placement and valuable experiences, and the money he's willing to take from advertisers to list their stuff in them. These three actors find a balance with each other in a triangle that stabilises the quality and placement of ads to be what is maximally appreciated by users, and it's completely decentralised, so it's like a free market of advertisement quality insurance.
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