SIE: A new way to earn by sharing viral content
Source Independent Entertainment is a revolutionized way to create content and earn rewards on it. It is created on blockchain technology which fuels a decentralized system and democracy. Different from the typical social media platforms because it is highly dependent on the quality and discreteness of the content you share. You will earn rewards based on the frequency of your content being shared. Also, it is integrated with several other social media platforms; therefore, sharing based on such platforms will also be monetized.
The users will have separate pages based on the bifurcation of their roles, i.e. user/viewer, to prevent any unnecessary tampering of data. Developers can sell their content in the form of games, and virality score.
Since this is a relatively new take on the social media industry, we faced a few challenges about the same. Theses challenges served as a stepping stone for making our project more personalized and user friendly.
We faced issues relating to the enhancement of security and data privacy. Naturally, an idea like this is not taken with extreme confidence at first. However, it only made our platform, securer than ever and worthy of the trust our users put onto us. The next big elephant in the room was, tracking the content sharing on platforms such as Youtube and Vimeo.s. It most certainly had to be accurate for proper monetization.
The broader challenge was to make this platform viable and attractive than the other platforms, to make it grow at a faster scale and achieve functionality and practicality.
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Authentication and Security
We have built our system on blockchain technology which makes all the records immutable. The authentication process is a 2FA process that consists of QR scanning and Private keys. To store your tokens that are converted from the rewards you earn, we provide a secure wallet to keep track of all your digital currencies and also provide a hyperledger fabric to reward ICO tokens. In addition to the security as mentioned above layers, includes a multilayered signature wallet and the address of the wallet is based on ECC (Excise Control Code).
The Multi-Level Marketing Algorithm helps trace the earnings of the content creator. The artists can team up and gain more revenues by sharing content amongst themselves. It allows them to be a part of building the blockchain and earning more.
The rewards will be based on the views generated by each player. The revenue will be proportional to the generated views. The views are tracked with the help of Youtube. Also, there is a share of the commission for the players who have shared the videos (5% of the total revenue distributed equally amongst all the sharers). The rewards are in the form of Fiat or Tokens. These will be securely transferred to your wallets and can be used as per your discretion.
Just like popular e-commerce platforms, SIE offers a marketplace for sellers. They have to go through a separate application process and then they are ready to market their products, this also can be buttressed by their own team. Each product should be provided with a link. The transaction inherently will be in digital currencies/ SIE tokens. The interesting catch here is, if you share the link of the product to someone else, then success in the purchase will earn you commission too.
Content Creation and Sharing
Of course, the main purpose of our platform is to fuel the content sharing process. The creators engage in a smart contract to approve the uploading of the content on the platform. After the proper authentication and subscriptions, once you are ready to become a user, you can send your content to be shared, after getting it approved through the smart contracts and the admin, it’ll be posted on the platform. The revenues will be monetized on the number of views and will be granted in the form of Fiat and Tokens.
We have been trying to gauge a larger audience and have been successful in deploying several users to gain rewards from content sharing, since our launch. The SIE platform has been built on blockchain technology which makes it more secure and the data is immutable. This is the first step towards revolutionizing the social media industry.