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#CryptoCorner: Bill Ottman, CEO of Minds, Talks About the Importance of Free Expression on His #Blockchain Based Social Network @minds

Minds.com is a blockchain based, open-source social network.

Stocks discussed: (NasdaqGS: $FB) (NYSE: $SPOT) (NasdaqGS: $AAPL) (NasdaqGS: $GOOG)

August 21st #CryptoCorner and Podcast sponsored by Crypto payment tech, #Flip @FlipToPay ($NXTD) and #AI, #IoT, #Blockchain, #Crypto Technology Company Gopher Protocol (OTCQB: $GOPH) and Genesis Exchange and Wallet App

 

Point Roberts, WA and Delta, BC - August 21, 2018 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news reports on what's driving the cryptocurrency markets with today's edition of Crypto Corner, now available in podcast.

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#CryptoCorner: Bill Ottman, CEO of Minds, Talks About the Importance of Free Expression on His #Blockchain Based Social Network @minds

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Crypto Corner

#CryptoCorner: Bill Ottman, CEO of Minds, Talks About the Importance of Free Expression on His #Blockchain Based Social Network @minds

As mainstream platforms like Facebook (NasdaqGS:FB), Youtube, Spotify (NYSE:SPOT) and Apple (NasdaqGS:AAPL) appear to be wavering on their commitment to free expression, many users are becoming disenchanted and seek more open alternatives. One such alternative is Minds.com, which is an open-source social network running on the Ethereum mainnet. Bill Ottman, the company's CEO and co-founder, explained the platform's commitment to free speech and how this has been the norm of successful social networks for most of the internet's history.

"We're completely dedicated to free expression," he said. "As long as it's lawful in the U.S., it can be online. This has typically been the stance of social networks and most internet companies for a long time and it's only recently that there's been this strange clampdown."

Ottman said censorship will only stifle the popularity of social networks and that rather than policing their own user base so much, big platforms should work to exert a liberalizing influence on less tolerant countries.

"The free internet is going to win no matter what in the end so it's really just going to cause more issues for these big companies," he said. "The fight should really be in convincing these more oppressive censorship regimes to change their policies. That's where Facebook and Google (NasdaqGS:GOOG) should be putting their energy, not into censoring their own platforms more."

What sets Minds.com apart from its competitors is a ERC-20 token reward system, which pays users for contributions to the site. Ottman explained how users exchange tokens for promotion of their own content or as a means to patronize other users, and how cryptocurrency was indispensable.

"You earn these tokens and then you can spend them to boost your content for more impressions, or you can send it peer-to-peer to other users on either a one-time basis like a tip, or a monthly subscription and that will give you access to exclusive content or other rewards that the creators set," he said. "We're really focused on helping users be rewarded and crypto is really valuable for helping to achieve that."

Minds.com is not alone as a new social network, as sites like Gab and Youtube alternative Bitchute are also becoming fairly popular. Ottman said he does not regard them as adversaries as they do not deviate from the mainstream model enough to be truly innovative.

"I don't consider any company that is not open-sourced to actually be competitive," he said. "It's not actually a paradigm shift away from what the establishment is doing. It's essentially a more open version of what already exists in terms of content policy, which is a good step in the right direction but it's not where things ultimately need to move when we talk about a truly transparent and decentralized internet."

Sam Mowers, Investorideas

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