A US consumer report found that 74% of social media users think surrendering privacy for a free service is not an acceptable trade off. This inspired us to create a social media network that rewards users in microcrypto payments for ads, that protects user privacy & provides direct monetisation opportunities for content creators.
We believe that connecting all social media users to Hedera Hashgraph wallets can be the most effective way to bring the crypto revolution to citizens globally.
Our ad model/privacy portal was inspired by Brave Software’s BAT model built on Ethereum. With the significant cost & speed benefits of Hedera Hashgraph we are excited to bring an ethical & profitable ad model to social media. At a time where big social is facing multiple data privacy & anti trust lawsuits, now is the perfect time to decentralise social media, and return privacy, choice and control to social media users.
What it does
Joyn Social Media user accounts are connected to a Hedera wallet that can receive microcrypto payments for the ads they view in Joyn. Users can also purchase HBAR Joyn Tokens in app. Joyn users can spend Joyn Tokens on creator content, either by microtipping (1 cents and upward) or by microcrypto paywalls (the price determined by the creator). Joyn users can also purchase feed customisations in the Joyn Token store.
Joyn’s privacy portal gives users control over the data insights used to match them with advertisers, and provides a gateway for real time consented access to audiences for advertisers.
How we built it
From Joyn CTO, Naren Lokwani:
“Implementation using Hedera Token Service (HTS) was really straight forward. Whenever a customer registers for the Joyn app, we create an account for them using the client and provide users an initial amount of Hbars (Joyn Tokens).
We do every transaction (exchange of tokens) for the customers by signing the transaction using the client and the user private key and the account id. We receive the account id and private key from the Hedera previewnet. We have used the Hedera SDK and created a client (the admin for our app) using private key and account ID that we receive from the platform.
Joyn app motivates users to invest and transact in Hbars by tipping and unlocking content creations on our app. Joyn also benefits Hedera ecosystem by generating a large number of transactions through the selling and buying of tokens through the app.
Challenges we ran into
Key challenge was un-availability of Mainnet for deployment (short term issue we understand). Access to code examples and sample scripts for HTS would have helped our developers in early stages, but by late this week we felt a lot more comfortable. Really enjoyed this project and looking forward to the rest of our journey building on Hedera!
Accomplishments that we're proud of
- All users can transact HBAR Joyn Tokens for tipping and unlocking content on Joyn
- Our Joyn Token Customisation store is operational where users can buy and apply digital assets to their Joyn feed with HBAR Joyn Tokens
- All users are digitally ID verified using Passbase during the onboarding process, so all users on Joyn are real people. No bots no trolls. No ad fraud.
- All users can receive HBAR Joyn Tokens directly from Joyn for ads and rewards
What we learned
Hedera Token Service can be the infrastructure layer of a decentralised social network that rewards users and creators in real time for their value Investment needed to optimise feed for video
What's next for Joyn Social Media - Social Media for Web 3.0
Closed Alpha launch 28th February, open Beta launch 28th March, then hopefully to the moon! 🚀