FORESTING is a new blockchain-based social media platform which seeks to turn the existing paradigm on its head. On the FORESTING platform, users are actually paid for the content they post, rather than simply being data generators for big media corporations. FORESTING is currently in the midst of a pre-sale which runs until the end of the week. The initial coin offering will see 40% of the 24 billion PTON tokens made available to the public. The economic ecosystem provided by the platform will be run on these tokens, with users receiving various amounts in return for their activity on the website.
The normal actions that you take on social media every day, such as posting, commenting, sharing and even liking will all be made profitable by the PTON token. At the same time, every transaction and every click on the site will be stored irretrievably on the blockchain. This means there will always exist a secure, distributed log of all of your earnings on the website which can’t be changed or altered by anyone. All of this comes from a blockchain startup which is making headlines for its progress in the crypto space. Indeed, FORESTING was recently named among Korea’s thirteen most promising blockchain startups, where it kept company with such high profile projects as ICON (ICX), and the crypto exchange, Upbit.
Meanwhile, CEO of FORESTING, Daniel Eom was recently awarded a prize for his pitch at the Blockchain Open Forum in Seoul; and was guest at the World Blockchain Forum in New York where he delivered a speech on the unforeseen social impact of ICO’s. FORESTING also extends beyond its core social media platform with projects like FORESTING Labs – a startup fund incubator for those innovators who wish to build on the platform. Further still, plans also include the concept of FORESTING Bank – a system whereby users can be assessed for loans based on their previous activity on the FORESTING platform. Those who are deemed worthy and ethical contributors can qualify for loans made up of PTON tokens, which can then be used to boost a user’s standing on the site.
All of this adds up to a swift ascension for FORESTING, and Q4 of 2018 promises to be a busy period for the team as they wrap up the token sale and get to work implementing integrated crypto-exchange compatibility into the platform. Beta testing is also expected before the year’s end. The move into 2019 is also highly anticipated, with Android and iOS mobile apps expected to be finalized in the early part of the year.
As it stands, the social media space is dominated by monopolies who view their users as nothing more than resources. One need only glance at news headlines of late to get an idea of how much respect firms like Facebook and Twitter have for their users. Whereas those firms make money off the sweat of others, FORESTING ultimately aims to put the power – and the money – back in the hands of the people who make social media what it is – the users themselves.
More information about FORESTING can be found here, along with details on how to get in on the token sale.