Howdoo, the multi-media and blockchain-based social media platform, recently announced the listing of its app on Huawei’s AppGallery. The Ethereum-based application Howdoo, which emphasizes all-encompassing media, monetization, and privacy, has emerged as competition to the modern social media dominance of big tech firms, and the Huawei reveal is another step forward for the startup.
Huawei AppGallery has more than 65 million daily active users (DAUs), granting Howdoo some massive exposure in the mostly Chinese market for Huawei.
A Challenge to The Contemporary Social Media Model
Howdoo emerged out of growing necessity for competition in the social media landscape, which has become rife with data scandals and privacy abuses by major tech firms.
“People should be able to speak freely and privately, and consume content, without someone listening in and harvesting their information simply as a product to serve to advertisers,” detailed Howdoo CMO, Jason Sibley, in the project’s Orange Paper.
Relying on the advantages of public blockchains to disintermediate trust and facilitate control of data and monetization to users directly, Howdoo built its platform to cater to younger generations. The company is capitalizing on what they view as a rapidly evolving market in social media, which is projected to encompass more than 3 billion users by next year.
“Howdoo extends the functionality of existing social media platforms like Facebook, Instagram, and Snapchat,” details Howdoo CEO, David Brierley. “However, we combine all of the various content types, like short-form video, images, and blogs, into a single interface, where users can selectively reveal their data and monetize their creations.”
The platform, indeed, tackles two polarizing areas of the current social media hegemony: monetization and privacy.
User privacy on social media platforms has been repeatedly sacrificed for revenue, and the value capture of content creators online suffers severely from the social media platforms, advertisers, and rent-seeking intermediaries — with YouTube providing the flagship example.
“We want to simultaneously address the curtailing of free speech and ability to generate income from online content creation,” says Brierley.
Such a platform is likely to resonate with younger generations, like Gen Z and Millennials, who are the leading purveyors of online content and social media influencers today.
Now available on Huawei’s AppGallery, users will be able to download and use Howdoo’s unique blockchain-powered social media app, tethered to its financial incentive system based on the uDoo token.
“Content creators such as bloggers, video creators, and generally anyone who shares content, will be paid in uDoo tokens, which can be stored on the uDoo wallet,” says Brierley. “These tokens are currently on exchanges and can be traded or exchanged for fiat, and with our built-in fiat or crypto to fiat gateway in the app, you’ll soon be able to cash out to local currency in the Howdoo app and to your own VISA card.”
The last part about the native exchange compatible with local currencies is also a huge boon for Howdoo’s potential adoption. In a bid to improve user-experiences and onboarding, many cryptocurrency wallets, mainly exchanges currently, are adding more features to change in and out of fiat much more easily. Howdoo is partnered directly with a US-regulated bank to facilitate the exchange of the uDoo token for local fiat currencies, which is highly demanded among crypto users.
In addition, Howdoo’s embedding of local fiat exchanges plugged into a comprehensive social media platform is analogous to Facebook’s Libra, but without the adverse consequences. The platform doesn’t serve advertisers, removing the incentive that drives data harvesting and privacy intrusions by big tech firms. Users retain complete control over their data rather than having it stored on a third-party server.
The dual privacy and monetization boost of Howdoo is assuredly appealing in the contemporary social media market.
The race is on to compete with Facebook, Instagram, Snapchat, and other major social media platforms, but Howdoo’s recent listing on Huawei’s AppGallery demonstrates a decisive advantage for the blockchain-powered social media startup.
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity’s role is to inform the cryptocurrency and blockchain community about what’s going on in this space. Please do your own due diligence before making any investment. Blockmanity won’t be responsible for any loss of funds.
Did you like the news you just read? Please leave a feedback to help us serve you better
Post Views: 14