So.Social is Set to Give Web3 a Human-Centric Social Makeover

• Blockchain Council
• September 02, 2024

A new startup called So.Social has big plans to overhaul how we socialize online using innovative Web3 technology. Their goal? Put people back in control of digital communities instead of giant tech platforms calling the shots.

For years, users have had to deal with social media giants monetizing their personal data, censoring certain content, and keeping most of the profits generated by user engagement and activity. So.Social believes it’s time for a change driven by principles of decentralization and tokenization.

“The current social media landscape has become increasingly problematic…We’re offering a new paradigm that gives users genuine ownership and control,” said Ian, a co-founder of So.Social, in a statement.

So.Social’s approach is aimed at building a “social infrastructure layer” that moves away from self-contained walled gardens like Facebook or Twitter. Instead, it provides an open framework where communities can customize their own governance rules, interaction formats, and operating models as they see fit.

This flexibility extends to “social consensus mechanisms” like voting systems that groups can tailor to their specific values and decision-making philosophies. So.Social calls this a more realistic path to true self-governance compared to the rigid constraints of basic blockchain-based DAOs.

“We’re bridging the gap between regular social media users and investors by making everyone a stakeholder with skin in the game,” Ian explained. Users earn tokenized ownership through their participation, giving them a financial stake in the community’s success.

These tokens can be used for governance voting, earning rewards, and other benefits. The idea is to incentivize positive engagement and high-quality contributions in a way ordinary social platforms cannot.

So.Social also incorporates portable digital assets and verifiable records of ownership for social interactions like posts. This allows content to move freely across communities instead of being trapped on one site.

Additionally, the protocols bake in open and auditable finances for activities like paid experiences or charitable donations. Members always have transparency into where funds are flowing.

To reduce human bias, So.Social utilizes advanced AI capabilities for aspects like asset distribution and content moderation. The startup believes technologies like machine learning can help increase procedural fairness.

“Users today feel powerless when their data and content is exploited by a handful of tech giants who have misaligned incentives,” said Sophie Reynolds, a Web3 investor, commenting on So.Social’s mission. “So.Social’s approach could realign those incentives in a way that protects people’s digital rights and rewards positive contributions.”

Of course, massive hurdles remain. Onboarding mainstream users comfortable with Web2 simplicity, achieving sustainable monetization, and reaching critical scale are all big challenges.

However, many believe that Web3’s philosophies of decentralization are a necessary evolution to solve the downsides of today’s corporate internet platforms. If So.Social can execute on its vision, it could spark mainstream adoption of Web3 concepts into the social experience..

“So.Social is at the forefront of a new paradigm of social interactions, and our social protocols empower users to shape each interaction to their wishes, ensuring transparency, fairness, and trust,” Ian stated. “We envision a future that solves the social needs of all users.”

The So.Social team is calling on Web3 developers and engaged community participants to collaboratively build out this new ecosystem. Those interested can learn more at So.Social.