The “Blockchain’s Facebook” Synereo Forms Partnerships With LivelyGig, Factom
LivelyGig is building a decentralized and distributed employment market, with a motivation to provide for better social interaction between the supply and demand participants for freelance work or gigs. Winner of $300,000 in the recent Texas Bitcoin Conference Hackathon, awarded by the DAppsFund, LivelyGig chose to take their project to the next level by developing it in full on top of Synereo’s distributed tech stack.
LivelyGig Founder and CEO Ed Eykholt noted:
Synereo and LivelyGig both rely on attention economy principles, which reward participants for attending to content that might be mutually beneficial as well as for building trust. In the case of LivelyGig, this interaction starts with the parties finding each other. Their agreement to enter into a conversation is the initial phase of a private, social contract that is the basis for the next stages, including smart contracts for work, payments in cryptocurrency, and accumulating reputation
Once integrated with LivelyGig’s distributed and decentralized service and API, providers of task management and freelance job sites will be better connected and have incentives to optimize how they share and best connect gigs with talented workers.
Eykholt discusses the partnership on the Synereo blog.
The Blockchain-based data application layer provider Factom will be playing a major role in Synereo’s role out in provision of a time-stamped ledger.
Factom is an immutable and time stamped data layer for the blockchain that allows users to publish and verify any kind of digital information. Synereo will be integrating Factom’s time stamped immutable ledger into Synereo’s decentralized social network platform.
Peter Kirby, President of Factom, stated:
This is a great opportunity to use Factom’s blockchain technology to build identity and reputation tools and explore new ways of looking at the attention economy. Synereo is building a fascinating smart social networking platform.
Dor Konforty, CEO of Synereo, noted:
Synereo’s social contracts will benefit greatly from Factom, allowing users on the network to establish global reputations of different kinds. Parties can publish contracts set up through Synereo to Factom, followed by their execution traces, and eventually update their global reputation scores upon the successful completion of the contract. It is easy to imagine a time when a reputation built on this kind of mechanism is the only way to do business.