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#Datt - A #Bitcoin #SocialNetwork That Offers Users Financial Rewards

insidebitcoins.com
The first thing I did when I heard about Datt was put the link to their landing page into a Facebook post to see if they would block the link, as they did with Tsu. Happily, I can report that they didn't, despite the function of the site being remarkably similar. In this case, Facebook either don't know or just don't care, it would seem. Datt is an upcoming social media platform developed by former Reddit employee and bitcoin developer Ryan X. Charles.

Allegedly the site/app will follow similar design specs to Reddit, but with a key different - Datt will be based around free markets and financial incentives, which in layman's terms means that users will get money for the content that they put up, in the form of bitcoin. The content can supposedly be almost anything, with the financial incentives stemming from direct support from other users, upvotes and sponsorship for specific projects.

The way this works, supposedly, is that users will have to contribute Bitcoin to download content, which is then spread out among the peers, creating a kind of monetary undercurrent which is then distributed accordingly to the people posting content. The more active people are on the platform, the more money goes through it, and the more money is available to content posters.

The secondary motivation is to create a community that is altogether preferable to Reddit, since so many users have become disillusioned with the platform in recent years. This is largely due to the massive censorship scandal that preceded Ellen Pao's resignation, as well as the poor treatment of the voluntary moderators, which itself resulted in something of a mutiny earlier this year. Charles is promising that Datt will operative using a system which effectively renders post banning impossible, and with the financial incentives it more or less goes without saying that those who take an active role in site maintenance will feel valued.

It's already attracted the attention of investors and a few select venture capitalists, but there's no word on how long it will be before the site is up and running yet. For the time being there's an email sign up available for people to keep up to date on progress. Those who do subscribe will  also receive beta invites once they become available. If this mode of financial incentivised social networking does indeed take off, Datt is worth keeping tabs on.



Callum is a film school graduate who is now making a name for himself as a journalist and content writer. His vices include flat whites and 90s hip-hop. Follow him @CallumAtSMF


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#Datt - A #Bitcoin #SocialNetwork That Offers Users Financial Rewards Reviewed by Callum Davies on Tuesday, November 17, 2015 Rating: 5

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