How cryptocurrency can help the unbanked has been a hot topic over the past 12 months. It is a laudable goal, but one that it is by no means easy to accomplish. One tech enthusiast and stablecoin startup employee, Steven Gilbert, experienced the struggles – and successes – of attempting to do so when he went to one of the poorest neighborhoods in Bogota, Colombia to encourage adoption.
Also read: Why Colombia Has Become a Hotspot for Bitcoin ATMs
A Crypto Social Experiment
Inspired by a hurricane relief project in Puerto Rico he took part in, Steven Gilbert wanted to do something else charitable but this time related to one of his passions – cryptocurrency. Living in Colombia’s capital city of Bogota, the 30-year-old decided to help the needy in a poor, generally out of bounds area in the south of the city. There, he wanted to introduce the benefits of cryptocurrency to people who didn’t have bank accounts as part of an experiment.
“I was interested in visiting this neighborhood which is largely unbanked and poor, and seeing how they would receive the idea of crypto. The takeaway was that they were interested,” he told news.Bitcoin.com. Steven, who is director of international operations at Reserve and now lives in California, went to the Ciudad Bolivar neighborhood and donated some of his own cash to nine families – 44 people in total – living there. He met them by visiting a community centre that helps displaced people in Colombia. Most of the people he spoke to had phones, but no bank accounts, so he was able to show them Breadwallet and from there give them ethereum – 1 ETH apiece, approximately $131.
Steven also embarked on a mission to educate the local people, who live far away from the banks and financial opportunities to be found in central Bogota, about the benefits of cryptocurrency, and how it can help them. “With one old woman, I scanned the QR code, made the transfer and she could could see how much it was in pesos. She asked me, ‘Is that really what it’s worth?’ Her face lit up when I told her it was. She was fascinated to have digital cash,” he recalled.
The Difficulties of Execution
But there were a number of problems. Steven said that despite the enthusiasm among the community, the biggest issue was getting them to use the crypto. “I was trying really hard to get a merchant in the community to get them to use [crypto],” he said. “I was like ‘hey, I’m donating this money to a community, as part of an experiment it would be awesome if the people could use it.’” Despite managing to convince residents to download wallets – many had heard of Bitcoin so had a rough understanding what crypto was – the shopkeepers were harder to sway: “The merchants I spoke with in Ciudad Bolivar hadn’t heard of bitcoin or other cryptocurrencies, so I was starting from square one in terms of educating them. If I had more time, I’m confident I could have brought several merchants onboard but I was time constrained because I was leaving Colombia.”
When Steven did leave, he left them with the knowledge of Localbitcoin.com and of Bogota’s many crypto ATMs. He also left them with a list of stores and restaurants that accept the cryptocurrency. He said: “The main thing was education. At minimum I wanted to see how they would receive crypto. The biggest benefit is a lot of these people don’t have bank accounts, they’re not tapped into the banking system, so one really cool thing about crypto is you don’t need anyone’s permission to download a crypto wallet. Once you know how to do it, you’re effectively banked.”
Other difficulties included the logistics of introducing crypto to just a small section of a neighborhood. “The area was dangerous, I could only be there in the daytime. I would have done more training workshops but because I wasn’t giving it to the entire neighborhood – only a handful of households – it could’ve created tensions,” he said.But Steven said that despite the difficulties of performing the experiment solo, it was easy enough to introduce unbanked people to cryptocurrency and get them enthusiastic about the concept. Since starting a role that specializes in introducing crypto to countries that struggle with hyperinflation, he added that all it would take is a bit of extra manpower and resources. “These people were very interested and excited at being part of a financial system. They were very open to the idea and I think we could get entire communities using crypto in the future.”
What do you think about Steven’s social experiment? Let us know what you think about this subject in the comments section below.
Image credits: Steven Gilbert
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United States-based payments firm Square’s Cash App has reportedly blocked the personal account of the founder of controversial social media site Gab, according to a tweet from Gab Jan. 8.The move was reported just after Gab announced that the firm had sent an email to its user base promoting Cash App and Bitcoin (BTC). In a tweet today, Gab announced that it has sent over 850,000 emails to its users, introducing them to “free speech money: Bitcoin.” The screenshot of the firm’s email generally describes alleged censorship measures that have been taken against “influential alternative media personalities and companies,” but also calls on users to use BTC as a “censorship-resistant free speech money and payment processing.”Further in the letter, Gab also directly recommends and evidently links to Square’s Cash App for transactions with BTC. The firm also announces it has begun accepting BTC for its GabPro premium service.In a tweet several minutes later, Gab reported that Cash App had blocked the personal account of Gab’s founder, Andrew Torba. About twenty minutes later, Gab further tweeted:“Yes, we know who owns Square. We realize our accounts have been blocked for unknown reasons.”On Jan. 6, Gab announced it had started using Cash App to transact and receive BTC donations after its corporate account on major U.S. crypto exchange Coinbase was reportedly closed. Prior to that, Gab had also been reportedly banned both by the Apple and Google app stores.Established in 2016, Gab presents itself as a “free speech social media platform,” but is widely criticized as a “favored platform” for alt- or far-right views. Gab drew particular scrutiny in fall 2018 after it was reported that the perpetrator of the Pittsburgh synagogue shooting, Robert Gregory Bowers, had posted on Gab indicating his immediate intent to do harm prior to the crime.In another tweet today, the social network referred to itself as “the most censored website in history,” providing a list of services that have allegedly blocked or censored it.In April, WikiLeaks Shop, the merchandise arm of international anonymous publishing non-profit WikiLeaks, reported on Twitter that their account with Coinbase had been blocked. WikiLeaks Shop’s tweet contained a screenshot from an alleged email from Coinbase that states the organization violated their Terms of Service and therefore “can no longer [receive] access to [their] service.” window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; js.async = true; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);
Last year the Bitcoin Cash (BCH) community welcomed a BCH-based social media network called Memo.cash. Since then Memo has gathered a lot of traction with hundreds of profiles and thousands of onchain updates and conversations posted to the BCH chain.
Also read: Crypto-Friendly Statesman Takes Over Swiss Presidency
Memo’s Uncensorable Posts Continue to Grow
In April last year, news.Bitcoin.com reported on the social media platform Memo.cash, a decentralized app powered by blockchain technology. The platform gives anyone the ability to create a profile, post messages, and send and receive tips as well. Nearly every action on Memo is recorded on the BCH chain using an OP_Return transaction. After the BCH blockchain split on Nov. 15, the creator of Memo decided to open the platform to users of both sides of each chain and now there is a Memo SV version of the site as well. Existing users who haven’t logged on since the fork can use the same login credentials for the SV section of the platform.
Memo feed 1-6-19.
Since we first reported on Memo, there was another social media platform for the BCH chain called Blockpress, but the application has been defunct for quite some time. Memo, on the other hand, has continued to grow with users and content is being shared constantly. For instance, Memo’s feeds are broken down into six sections, which comprise ranked, polls, threads, top, new, and archive posts. Similarly to Twitter, when writing a new memo users can utilize 217 characters per post. If an individual decides to create a poll, then they have to first create a question (209 characters) and then add two options (184 characters per option) for people to choose.
Memo users can embed tweets.
Memo users can post text, videos, pictures, and even embed tweets from Twitter on the application. Moreover, individuals can search the index of registered users by perusing a list of profiles that are also sectioned into different criteria like most followed and oldest, which shows the first Memo accounts created. The most followed Memo profile is the creator of the platform, with 777 followers, and the first account registered belongs to a user named Jason who has 142 followers.
Poster.cash and Unwriter’s Bitdb
Then there’s Poster.cash, a Bitdb-powered Memo extension protocol built by the software developer Petar Mitchev. The Poster application allows users to utilize most of Memo’s actions, which are performed in-browser. Poster provides infinite scrolling and the ability to track certain keywords as well.
Petar Mitchev’s project Poster.cash.
Similarly to the Memo protocol, Poster also gives users the choice to toggle between the BCH and SV network depending on their preference. Because Poster is powered by the developer Unwriter’s Bitdb network, it works as a serverless application. Mitchev gave props to Unwriter for creating the Bitdb and Bitsocket applications and noted, “I still can’t believe I wrote an actual serverless Memo implementation — And it works so nice.”
Popular topics on Memo.cash.
Overall, Memo continues to see lots of people posting uncensorable media and the extensions people have built around the protocol have made Memo’s ecosystem more robust. Of course, with the application serving both networks, there’s a fair bit of arguing between both camps when scrolling through the last few weeks of Memo posts. The Memo application also supports hashtags and many people add their favorite tags to posts. Popular hashtags at the moment are bitcoin cash, BCH, BCHPLS, roblox, and hashwar.
What do you think about the Memo.cash application for the Bitcoin Cash network? Let us know what you think about this platform in the comments section below.
Images via Shutterstock, Memo.cash, Poster.cash, and Pixabay.
Express yourself freely at Bitcoin.com’s user forums. We don’t censor on political grounds. Check forum.Bitcoin.com.
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The personal Coinbase merchant account of Andrew Torba, social media platform Gab’s founder, has been terminated, the official Gab.com account tweeted on Jan. 4.As blockchain blog Breaker reported earlier, Gab’s business account on Coinbase was allegedly closed in December. The news source put forward that a possible reason why it is hard for Gab to obtain a payment processor is its reputation for being the social network for people banned from mainstream platforms for hate speech.In October, the New York Times mentioned Gab as a social network used by the shooter in Pittsburgh to post a final message before he attacked a synagogue. After the shooting, Torba stated that the Pittsburgh shooter did not represent the broader user base of the social media site.Gab describes itself on its website as a “social network that champions free speech, individual liberty and the free flow of information online. All are welcome.”As Cointelegraph wrote in April, the Coinbase merchant account merchandise shop of the anonymous international publishing nonprofit WikiLeaks had also been closed due to a terms of service violation.In December 2017, WikiLeaks’ founder, Julian Assange, had urged donors to contribute to the online publication by using cryptocurrencies in order to skirt the so-dubbed financial blockade by national governments.This past December, major American magazine Time reported about Bitcoin’s liberating potential, suggesting that it can ensure economic flow outside of oppressive government’s reach.The author of the Time article claims that “speculation, fraud, and greed in the cryptocurrency and blockchain industry have overshadowed the real, liberating potential of Satoshi Nakamoto’s invention.”Moreover, American whistleblower Edward Snowden said in March that the world needs a better option than Bitcoin to avoid government coercion, at the same time reiterating his support for ZCash as the most interesting altcoin due to its privacy setup. window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; js.async = true; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);
American telecoms giant AT&T is seeking a patent for a blockchain-based social media history “map.” The patent application was published by the U.S. Patent and Trademark Office (USPTO) Dec. 13.AT&T’s patent application describes a blockchain-powered system that may include a transaction history controller to store subscribers’ data, which may be used for various purposes. The file outlines a number of particular cases, such as creating and sharing information, ideas, and career interests through virtual communities and networks.Broadly speaking, by deploying the system users could purportedly track “micro-culture transactions,” like tracing current trends at a particular time or place, or behavior of their friends. That ability, per the patent application, “may have enormous value in e-commerce, marketing, and targeted advertising.” The document further states:“The social media history map platforms described herein may take advantage of the immutable and permanent nature of blockchain records to store, and provide access to, data representing online transactions that occur on multiple social media applications.”Per the filing, content creators would keep ownership of their data on the “mapping” platform:“However, instead of passing ownership of blocks or data between users, a social media account owner maintains primary ownership of his or her online transaction data. What passes from the social media account owner to other users of the social media history map service, such as followers of the social media account owner, is a notion of elevated visibility rights.”In November, the USPTO awarded printing and digital copying appliances manufacturer Xerox a patent for a blockchain-driven auditing system for electronic files. The technology offered by Xerox can supposedly detect whether a file has been altered and tracks the history of changes to documents. Owing to the decentralized verification mechanism, the system thus becomes resistant to tampering, the filing states.Also that month, financial services giant American Express (Amex) filed a patent for a blockchain-based system to capture and transmit the image of a receipt. The filing describes how the system lets a user with a mobile device capture the image of a receipt. The system then, via “optical character recognition,” deciphers the image and matches it with “related records,” namely transaction history. window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; js.async = true; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);
Gab, a social network dedicated to preserving freedom of speech, has announced that its store now accepts BTC directly after banks and payment processors denied the platform service. “Literally no one can no-platform our new crypto shop,” Gab announced. The platform integrated Btcpay Server after it was refused service by Coinbase and Bitpay.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Gab Begins Accepting BTC
Social network platform Gab announced on Thursday that its integration of Btcpay Server has been completed. Its store now accepts payments in BTC and LTC.
Launched as a free-speech alternative to Twitter in August 2016, this fast-growing website is currently used by several alt-right and libertarian personalities who have been censored from using popular social networks. Among Gab’s users are Alex Jones, Ann Coulter, Stefan Molyneux, and Milo Yiannopoulos.
Gab offers free accounts as well as four levels of pro membership, which are three months for $15, six months for $30, one year for $60, and five years for $200. Gab’s store also sells $25 “Make Speech Free Again” ballcaps. Btcpay is now the store’s only checkout option.
The platform tweeted on Thursday, “Literally no one can no-platform our new crypto shop. No one. Not banks. Not the media. Not activists. Not online mobs.”
Btcpay is a free and open-source payment processor that allows anyone to directly receive payments in several cryptocurrencies “with no fees, transaction cost or a middleman,” its Github page describes. The software conforms to the same invoice API format as Bitpay, allowing merchants to easily migrate from using Bitpay’s paid service to the Btcpay platform.
Merchants can use the app to accept direct, peer-to-peer cryptocurrency payments without requiring know-your-customer (KYC) information, the software’s Github page details, adding:
Btcpay is a non-custodial invoicing system which eliminates the involvement of a third-party. Payments with Btcpay go directly to your wallet, which increases the privacy and security. Your private keys are never uploaded to the server. There is no address re-use since each invoice generates a new address deriving from your xpubkey.
Recovering From Censorship
Gab has been a victim of censorship for most of its existence, often resulting from racist views posted by some of its users. The matter came to a head on Oct. 27 when Gab made national headlines after one of its users, Robert Bowers, killed 11 people at the Tree of Life Synagogue in Pittsburg.
Bowers was identified as a neo-Nazi who made anti-semitic threats on Gab, posting that he was “going in” just before the shooting. Paypal, Stripe, Godaddy, and Medium all terminated their relationships with Gab soon afterward, along with Gab’s web hosting provider. The platform was subsequently down for eight days as the company searched for a new web host. For about a month afterward, Gab’s only income was from customers mailing checks to the company’s headquarters.
Despite the media often painting the platform as an online haven for racists, Gab claims to have staff constantly monitoring all content posted on its platform for violations of its terms of service. Its stated restrictions on expression include threats of violence, promotion of terrorism, child pornography, revenge porn and doxing.
On Nov. 20, the company tweeted, “Gab has been denied by multiple banks during the underwriting process for a new payment processor. Multiple processors supported us, their banks did not.” The platform added, “Gab is the supreme example of why bitcoin exists. We will be integrating @Bitpay asap because @Coinbase already banned us.” However, after Bitpay also rejected the platform, Gab took the suggestion of several Twitter users to integrate Btcpay Server. In another tweet, Gab wrote:
You will never fully understand the power and importance of bitcoin until you go through the underwriting process with banks trying to get approved for online payment processing. They essentially want your unborn child, an arm, and all of your personal data to get an answer.
What do you think of Gab accepting BTC? Let us know in the comments section below.
Images courtesy of Shutterstock, Btcpay Server, and Gab.
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iCumulate is an industry changing Social Investment Trading Platform and Ecosystem based on the Ethereum blockchain. The platform combines all of the communication benefits of a social network with a revolutionary trade execution interface.
Meticulously designed from the ground up by industry professionals over the last 14 months, the project has attracted high retail interest. This week they announced their TokenSale.
iCumulate will be issuing their own utility token on Ethereum. It will be directly linked to the trading fees and services on the ecosystem. The token is called; ‘ICU’.
For the first-time users will be able to compare and invest in crypto assets directly against a FIAT base without the need to involve base crypto currencies, such as ETH or BTC and from one account, rather than having to split their funds and hold several exchange accounts.
With products such as FX and commodities also available on the platform, hybrid combinations such as Ether vs Gold, or Bitcoin vs Oil are now available for the first time. The addition of micro lot trading also makes investing affordable to everyone.
The core of the iCumulate social investment ecosystem is founded on the principle of combining modern social media communication behaviours and investment talent discovery.
Platform users can benefit from the skills and experience of the very top ranked investors by following or copying their portfolios. iCumulate have developed a blockchain based tokenized portfolio system to enable this process to be executed with all parties achieving identical performance for the first time in the industry.
Regular big prize investment competitions, an educational portal and a gateway for external content providers to offer services such as analysis, investment advice and automated trading systems are also included.
As CEO Angelos Diamantis notes: “The team we have put together is one of the most experienced in the professional electronic trading industry. Having the resources in-house to cover everything from algorithmic and risk modelling to legal and compliance frameworks has allowed the project to continue to break new ground with this industry changing product”
Angelos goes on to note: “We are so excited to finally be able to bring such a revolutionary product to market. Removing existing investment decision isolation by carrying social media behavioral habits into the investment world is going to be truly game-changing”
iCumulate is based in Gibraltar and will be one of the first companies to be fully regulated under the new world leading DLT regulatory framework there.
The 1-week Pre-Sale starts November 30th 2018, shortly followed by the 3-week Main-Sale which starts on December 10th 2018.
A working demo is available on the website allowing users and token sale participants to try out the functionality of the trading interface.
If you have any questions on the project, you are invited to join their telegram channel
Press Contact Email [email protected]
This is a paid press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Today’s installment of The Daily is about building more than bickering, though we’ll squeeze in a little of the latter before we sign off. First though, let’s start by considering the latest projects being proposed within the crypto space: a tokenized security platform and a social media network that doesn’t leak data.
Also read: South Korea’s Largest Crypto Exchange Sold to Singapore-Based Consortium
Nasdaq Plots Tokenized Security Platform
It’s being reported that Nasdaq, the giant U.S. exchange operator, is plotting a new platform dedicated to tokenized securities. The move would enable projects to offer STOs in a regulated environment so as to accord to U.S. law. As popularity for ICOs has waned, exacerbated by fears that so-called utility tokens may in fact be unregistered securities, U.S. projects eyeing tokenization have been left with no choice but to go down the STO route. It’s believed that Nasdaq is in talks with blockchain firm Symbiont to create its own platform that would enable tokenized securities to be listed and traded.
Social Media Backlash Intensifies
There’s been a storm brewing all year on social media, with wave after wave of censorship and data leaks hastening the exodus from Facebook and its ilk. Users intent on jumping ship have been left with a quandary though: where to go? We’ve reported on some of the Bitcoin Cash-based initiatives, as well as Twitter alternatives such as Gab and Mastodon. Blockstack has now launched a $1 million challenge to build decentralized social networks, writing: “Your data and privacy are being exploited and monetized by today’s social networks. It’s time for a change. We deserve the right to control our data.” They add:
It’s time for a new breed of social networks – where power is taken back from a single authority and control is returned to you, to me, to all of us. It’s time to decentralize social networks.
10 teams will be encouraged to devise social networks that don’t leak data. A similar venture was also launched recently by web inventor Sir Tim Berners-Lee. While these initiatives aren’t going to topple the social media giants any time soon, greater choice for pro-privacy consumers can only be a good thing.
Vitalik Buterin Sets the Record Straight
Ethereum’s Vitalik Buterin generally avoids wading into Twitter spats, but felt obliged to correct several of the inaccurate claims Nouriel Roubini made in the week of his similarly inaccurate U.S. Senate testimony. “Vitalik Buterin was the ringleader – together with Joe Lubin – of the criminal pre-mining sale/scam that created ether. They stole 75% of the ether supply and became instant ‘billionaires’ of fake wealth,” tweeted Roubini, whose timeline has become increasingly manic as the week’s progressed.
“I never personally held more than ~0.9% of all ETH, and my net worth never came close to $1b,” responded Buterin. “Also, I’m pretty sure there are no criminal laws against pre-mining.” Then, on Friday, as Roubini doubled down on his bug-eyed crypto rambling, Buterin again stepped in to dispel the notion that bitcoin and ethereum maximalists are at war, while giving a shout out to bitcoin cash proponents.
Have you learned about BCH yet?
The space is actually great fun once you get to know it.
— Vitalik Non-giver of Ether (@VitalikButerin) October 13, 2018
What are your thoughts on today’s news tidbits as featured in The Daily? Let us know in the comments section below.
Images courtesy of Shutterstock.
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Over the past few months, Bitcoin Cash developers have been creating applications that are similar to social media and forum platforms like Reddit, Facebook, and Twitter. Anyone in the world can use these Bitcoin Cash-powered applications such as Memo, Blockpress, Keyport, and Matter which offer censorship-resistant versions of these social media giants.
Also read: Facebook Purge Continues: 559 Pages, 251 Accounts Removed Ahead of US Elections
Onchain Social Media Apps, Forums, and Messenger Services
Censorship on large social media platforms like Facebook and Twitter has been rampant this year. On Oct. 11, news.Bitcoin.com reported on Facebook purging hundreds of pages and profiles that regularly posted about alternative news and libertarian views. The aggressive censorship has caused many people to start searching for more decentralized platforms that allow free speech. What they might not know is that the Bitcoin Cash (BCH) ecosystem already has a few applications that are similar to the dominant online forums and social media platforms. The difference is they are free of censorship and every action is recorded onchain.
Memo.cash is a platform that is comparable to Twitter, but posts cannot be selectively removed by anyone as they are all stored onchain. Memo allows users to post text, animations, pictures, URLs, and videos while also setting a custom profile. Much like Twitter, there is a cap of how many characters can be used per post as Memo only allows 217 characters at a time. A feature that sets Memo apart from Twitter and other social media platforms is the ability to tip posts using BCH. This allows content creators to reap the benefits of their work rather than giant corporate entities.
Memo has been a popular application amongst the BCH community and there have been thousands of onchain posts since the platform launched. For instance, one individual started recording every verse in the King James Bible. One setback for Memo users is because all posts are hashed into the BCH chain using an OP_Return transaction, they cannot be deleted. Memo also offers a community and topic section so users can discuss books, film, news, and even subjects that are considered taboo or politically unacceptable. The application also allows users to follow certain profiles so they can stay up to date with the most interesting people who post on Memo.
The application Blockpress is a mixture of Twitter with a Facebook feel. The customization of Blockpress profiles gives the website a Facebook-like look alongside the application’s user interface. The amount of characters a user can post is limited like Twitter, and just like Memo the Blockpress application only allows 217 characters per post. Blockpress also has a section of communities where people can discuss anarchism, video games, politics, philosophy and whatever else they feel like discussing.
Blockpress also allows native tipping in BCH and content creators can earn tips for popular posts and writings. Similarly to Memo, individuals can follow other Blockpress users, making it easier to follow specific people. Every action on Blockpress is recorded using an OP_Return transaction and the platform cannot delete posts after they have been published. Blockpress fell off the map for a couple months as the creator was going to focus his time on another project, but he has since returned to the platform.
Keyport is a messenger service that allows people to connect with friends, family, and coworkers. The Keyport platform is an application that provides users with the ability to send and receive encrypted messages built on top of the BCH chain. Essentially all messages are hashed into the BCH chain using an OP_Return transaction but they are encrypted. Only the recipient can decrypt the message, making the messaging service difficult to censor. The Keyport developers, Atlantislabs, explain that each message you encrypt or decrypt requires a small amount of BCH dust plus the miner fee.
If people don’t want to be limited to 217 characters then they could opt to use the BCH-centric Matter platform. Matter allows users to post threads written in long form and posts can be formatted with images and things like bold and italic. Matter also has native tipping abilities and uses the BCH chain’s OP_Return capabilities as well. The same immutability problem exists with Matter, and the creators ask you to check a box that explains you are aware that all posts are permanently stored on the Bitcoin Cash blockchain. The decentralized blogging platform’s creators recently added the ability to reply to posts and users can tip the replies too. There are not as many users on Matter as there are on Blockpress and Memo, but the ability to write in long form with full markdown syntax support is a plus.
Mass Exodus From Centralized Social Media Giants Will Take Some Time
It’s going to take a lot of time for people to flock towards decentralized social media applications and forums. The permanence of posts may also be an issue for some people, but that is part of the give and take involved with these censorship-resistant platforms. After a post is published, no matter how many people don’t like it they cannot remove the post from the BCH chain and the same applies to the content creators themselves. Users do need a bitcoin cash wallet and a little BCH to use these platforms, as each action costs a very small amount of BCH. As long as social media giants like Facebook continue to remove political dissenters and content they don’t approve of on a whim, more people will search for platforms without prohibition.
Have you tried any of the new Bitcoin Cash-powered social media, forum, and messaging applications yet? Let us know what you think about these platforms in the comment section below.
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WeChat, the 1 billion-user Chinese social media platform developed by Tencent, has reportedly blocked a number of crypto and blockchain related accounts, local financial news outlet Lanjinger reported August 21. Lanjinger quotes a WeChat official as saying that some public accounts were suspected of publishing Initial Coin Offering (ICO) and crypto trading “hype” in violation of the service’s “Interim Provisions on the Development of Public Information Services for Instant Messaging Tools” terms. The official said that official orders had been given to block all content and permanently block the relevant accounts. The interim provisions cited by WeChat were notably only recently introduced by the Cyberspace Administration of China on August 7. Deepchain, Huobi News, Node Capital-backed Jinse, and CoinDaily are among those who have been affected, according to Lanjinger. Coindaily’s site claims its official WeChat channel had over 100,000 users as of June 2018, and several other blocked sites were reportedly among the top 50 most influential blockchain-related accounts on the platform, Lanjinger writes. The number of total sites blocked remains unconfirmed, with one user claiming to have identified 8, although Lanjinger’s article implies the action has been more widespread. As of press time, Huobi and CoinDaily have not responded to Cointelegraph’s request for comment. As Cointelegraph has previously reported, this is not the first time WeChat has blocked accounts from the crypto space. In May, the service suspended a third-party application a day after the launch that would have allowed WeChat users to create contract agreements and a unique social media ID using blockchain technology. window.fbAsyncInit = function() FB.init( appId : ‘1922752334671725’, xfbml : true, version : ‘v2.9’ ); FB.AppEvents.logPageView(); ; (function(d, s, id) var js, fjs = d.getElementsByTagName(s); if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src = “//connect.facebook.net/en_US/sdk.js”; fjs.parentNode.insertBefore(js, fjs); (document, ‘script’, ‘facebook-jssdk’)); !function(f,b,e,v,n,t,s) if(f.fbq)return;n=f.fbq=function()n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments); if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′; n.queue=;t=b.createElement(e);t.async=!0; t.src=v;s=b.getElementsByTagName(e); s.parentNode.insertBefore(t,s)(window,document,’script’, ‘https://connect.facebook.net/en_US/fbevents.js’); fbq(‘init’, ‘1922752334671725’); fbq(‘track’, ‘PageView’);