Block.one Granted Patent To Incentivize Positive Feedback On Social Media Networks
The company behind EOS blockchain network, Block.one, has been granted a patent which will allow it to use blockchain technology to encourage the use of positive feedback within the social media networks.
On April 28, the U.S. Patent and Trademark Office released the patent documents revealing that Block.one is intending to solve the absence of incentivization techniques within the social media sphere for users to offer positive feedback such as likes, comments as well as upvotes.
The patent documents were first filed in May last year. According to the files, one of the ways by which posts get to influence is by getting positive feedback from the community. The documents explain that whereas the content creator is given recognition via positive feedback, the users that offer positive feedback are hardly appreciated.
Block.one has developed a fresh methodology which provides exposure to social media users that provide positive feedback apart from the original creator. The system is designed such that it will start by authenticating a post via a blockchain in order to make sure that the content is purely done by the author. From there, users that want to be linked with the given post can then bid on it using tokens that will be issued through social media. This will allow the highest bidder have their profile displayed on a spot that can be seen within the post.
As per the documents, the successful bidders will be given exposure via other users’ posts and can then utilize the exposure to promote their own posts or interests.
The documents also state that all the post data will be kept on the blockchain while the tokens gained via the bidding procedure will then be given to the author.
Block.one seems to be focused on the social media space as it announced its own social platform Voice which is built on EOS blockchain. In January the firm hired an ex-forbes executive to be its lead CEO. Currently, Voice is in private beta.