Social Media Blockchain and Basic Income
Steemit may be the first social media site to implement blockchain and cryptocurrency features. Kik app is utilizing blockchain too. A new sort of social media site is necessary. The ideal social media site should also reward participants with a cryptocurrency for posting and sharing. Additionally, the cryptocurrency should function as a sort of universal basic income as well. Each month, each unique user should be rewarded some amount of the basic income social media cryptocurrency. How much will depend on a variety of factors.
What is also needed is the following. A new sort of social media site and app should exist that has self serve advertising that can be payed for in dollars. Members will have the option of paying a small amount each month to not see advertisements on the site and app.
What should also happen is 70% of of net profits from advertising should be rewarded back to members and content contributors in the form of actual dollars. Facebook rewards zero dollars of advertising profits back to most all Facebook users that create content for the site and app. Sharing net profit should be implemented after the site and app is significantly profitable.
5% of financial profits will go to partial cumulative profit dividend fund. This is the nucleus of a basic income provided to members that is paid in dollars. Members may not have more than one account. Overtime, dollar transfer will be made to members. These rewards will be paid to users once per month, once the amount reaches at least 10 dollars per month (transaction fees will be subtracted from payments, if transaction fees are unavoidable). This fund, may be able to grow at about 7% per year, on top of principal increases from the 5% of net profits. Potentially about 3% of of the cumulative profit dividend fund could be rewarded back to users each year, divided up into monthly rewards.
Right now the best model for handling net profits is as follows. This may be subject to change.
5% of profits will go to healthspan research funding.
5% of profits will go to partial cumulative profit dividend fund.
10% will be distributed to directors and executives.
10% will go to charities.
70% of net profits will be distributed back to users.
More will be added about all of this later. This social media site and app should be organized as a public benefit corporation eventually.