Blockchain-based social network Synereo has formed a partnership with weWOWwe, an international sports-based social network, to use social contracts technology to enable a user rewards system. The rewards system will utilize a new cryptocurrency distributed by Synereo’s technology.
With offices in London, Beijing, and Tel Aviv, weWOWwe is a social networking startup that connects football fans globally and promotes a sharing economy in its network. It has a growing presence in China, operating the FanTV@China channels, VIP football delegations and events, and local fans’ football activities as well as managing social media for football clubs and players. In October 2015, weWOWwe brought Manchester United’s Rio Ferdinand to China as a “football ambassador”.
According to its Synereo CEO Dor Konforty, one of company’s potential investors is involved with weWOWwee. Konforty explains:
It’s a cooperation with a group that is being led by one of the investors that we’ve been meeting with, someone who has pledge to join a round or participate in funding when we find a lead investor. And he has a lot of business happening in China right now. Specifically, he and his group have a sort of user generated content based social network that deals with sports in China. They already have an actual functioning social network where people upload videos of commentaries about soccer matches, analysis, and they post all sorts of events for fans and groups… Now, what we have been approached to do is to help them create… or bring some of the Synereo type values into this network, while slowly migrating what they have to a more decentralized network.
Synereo and weWOWwee are discussing a reputation and reward system for contributions to the sport network, and eventually moving content to a distributed paradigm.
The first step of this project is going to be to create a mechanism that will reward users based on their contribution to the network. So in very simple terms, if someone uploads a video of an analysis of a soccer match and it gets many views, comments, shares and interactions and so on, then this person is going to get rewarded in this new token that we are creating specifically for this network.
The investor behind the sports network wants users to be able to redeem their tokens for badges, t-shirts, meetings with star soccer players, and later on services on the greater Synereo network once there’s a possibility to exchange their tokens for AMPs and other currencies.
Synereo is also cooperating on a reputation system with an Israeli startup called Backfeed. Founded by Matan Field, who also founded decentralized rideshare company La’Zooz, and Primavera De Filippi, a contributor to Ethereum, the Backfeed project seeks to provide a protocol that implements a decentralized meritocratic governance system. Ultimately, Field and De Filippi want to develop a reputation system for centerless coordination but currently still depend on a centralized entity to keep track of reputation of the members. For Synereo, centralization is an anathema as “each user has a limited and subjective view of the network” and that’s enough to form attention and reputation economy. The network topology simply changes to accommodate the relationship of the different agents based on their behaviors, and so no outside, central entity is needed.
Synereo is also working on organizing reputation system workshops with Coala, that hosts of the blockchain workshop series, and Vlad Zamfir, a major contributor of Ethereum. The first of these workshops is planned for New York in April 2016, with possible participation from Backfeed, Livelygig, Synereo, and groups interested in reputation systems for “Internet of Things”. The premise is that “Things” should also enjoy reputation.