Synereo’s decentralized, open-source social network, based on principles of the attention economy, is set to move into alpha phase in September. Synereo’s alpha is built on the company’s distributed tech stack, which utilizes blockchain technology to enable a peer-to-peer internet.
The blockchain-based social network is a new take on social media which passes control over content, personal information and monetization to the users. The network cannot record or store personal information of any kind, and therefore cannot sell it to third parties, or target users with marketing messages. Instead, all network transactions and relations are encrypted on a distributed ledger and accessible to permitted parties only.