Blockchain-based technologies and cryptocurrencies have the ability to revolutionize the way people interact on social media, making the entire process more secure through self-governance and individual ownership of data.
Unfortunately, looking at the 3.77 billion Internet users — 2.79 billion of whom already use social media — we find that just 3.2 million are currently engaging with cryptocurrencies. This creates a significant disconnect between capability and likelihood of true privacy because no mass market service has generated enough interest to reach mainstream adoption.
Recent events across the globe have led to greater demands for privacy and personal data control, from large hacks and losses to new rights over ownership enshrined in various countries. We see a growing desire for this protection coming from users of all demographic and geographic sectors.
ONe has put together this report to set forth a vision on the social blockchain ecosystem that can be created to provide customers with social channels they control. Plus, we’ll set forth a new cryptocurrency paradigm capable of supporting existing coinage, our token, and a marketplace for individual growth.
We aim to build a platform to meet the existing needs of the millions of customers and social media users who are demanding better data controls, privacy, reliability and security— with blockchain as the foundational solution to address these concerns.
Our cryptocurrency, Onebit Token (OBT), will launch in the first quarter of 2018 and is based on the next generation of blockchain and proof-of-stake technologies. It is designed to support new decentralized applications and work in conjunction with leading cryptocurrency wallets. We will maintain the ONe protocol and core network, with this document providing an overview of proposed technologies, solutions, and purpose