First, the platform enables anyone to create “instagram-like” applications centered on their own interests, hobbies or career. Secondly, members and content creators receive a portion of advertising revenue in the form of a U.S. dollar-backed stablecoin for engaging with these apps.

Jet8 is taking a new approach to social media and data ownership using blockchain.

Chief strategy officer Joshua Thomson sat down with CoinDesk to discuss how his firm is putting users “back in the center of the value chain.”

This J8T token can be redeemed at nearly 25,000 retail outlets, including 7-11 and Circle K, and a host of e-commerce platforms. Soon, Thomson said, the firm will release an ERC-20 counterpart token to redeem real-world objects on the ethereum blockchain.

With nearly 20 million app downloads, Jet8 is making moves at a time when social media heads are facing scrutiny for the way their platforms turn users into products. In Thomson’s words, “They’re monetizing our content and data.” He added off camera:

“Today 100 percent of digital advertising dollars go back to the social networks for our data and engagement…….an inequitable relationship. At JET8, we are giving the ad dollar back to users for their data. This to us is much more equitable and empowering.”

Ecash Creator David Chaum On His New ‘Quantum-Resistant’ Cryptocurrency, Praxxis 

Digital money pioneer David Chaum is creating his second digital currency and we caught up with him at Devcon in Osaka, Japan.

He created the first platform, Ecash, in 1983 and it was meant to be an electronic cash system, not unlike what bitcoin is today.

Now, Chaum is developing a new so-called “quantum-resistant” digital currency called Praxxis that innovates on his original ideas for Ecash as well as on the technology advanced by Satoshi Nakamoto’s bitcoin.

“Praxxis is delivering two things. One is a new consensus algorithm that is well suited for the Elixxir network. … Praxxis is also creating a new quantum-resistant cryptocurrency”, said Chaum.

Before Praxxis, Chaum created Elixxir, a distributed messaging platform that shreds metadata (data giving information about other data) in an effort to preserve user privacy. Chaum unveiled Elixxir in September 2018.

Praxxis, on the other hand, was unveiled this August. It is intended to enable anonymous payments on Elixxir such that the identity of both the sender and receiver are hidden.

“Vertical and horizontal privacy, it’s the holy grail”, said Chaum. “Elixxir is waiting for Praxxis.”

At present, a public alpha version of Elixxir is available for users to download on iOS and Android devices.

Chaum said that there are already 700 people on the wait-list to run new Elixxir software as well as a batch of corporate partners interested in integrating the software into existing messaging app services.

“We are in discussions with various messaging services to use our messenger on a white label basis. … Our messaging interfaces are also open. If anyone wants to create a messenger app for our platform they can”, Chaum said.

In Chaum’s view the “fundamentally different and interesting thing” about blockchain is its ability as a technology to decentralize power.

“The ability to have informational security mechanisms that are outside the control of the powers that be … that’s the real power of blockchains. That’s what kindled so much interest in this space”, he said.

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