FABRK

FABRK FAB

$0.0064
Market Cap $ 30.826 MM (#261)
24h Volume $ 1.522 MM
Chg. 24h: -7.35%
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FABRK project purpose and description

FABRK clarity of purpose

FABRK purpose and aspects

FABRK powers next-generation social networks, where developers can bootstrap social apps by letting users own their data and bring their friends from app to app. Users profit securely from their data via federated learning marketplaces, where devs can plug into a scalable pipeline for learning.

FABRK categories

Social networkDatabase services

Short description

FABRK is building the missing “People Protocol” of the internet. It’s like HTTP, but for finding people instead of websites. It allows people to own their data, freely exchange value and digital currency, and discover new ways to socialize. The People Protocol puts social networks in the hands of users, while empowering developers with a powerful SDK for social apps.

Abstract

Data is the new oil. Over the past 20 years, the world’s largest data-driven firms—Facebook, Apple, Google, Tencent—have come to dominate a sizeable share of human attention (multiple hours per day in the case of Facebook), primarily by building a moat around rich troves of their users’ social and behavioral data. Users provide data, create content, and view advertisements in exchange for a services platform that allows them to communicate and share digital content with the people that they know. There is only one human social network. Existing social platforms painstakingly create their own private, locked-down description of it, user by user and relationship by relationship. As of 2019, the largest of these is Facebook, which describes some of the relationships between ~2.2 billion people. This situation can be likened to the creation of telephone networks in the mid-twentieth century, or of rail networks in the nineteenth. The network effects of scale result in monopolization by a few key players - which is inevitably broken, either by private leasing, regulation, or fundamental disruption. FABRK is an open source, blockchain-powered, decentralized social networking platform and people protocol where users own their data and earn cryptocurrency (FAB) for content creation and consumption, digital labor, brand engagement, and other common online behaviors. Developers will have access to FABRK’s repository of user-shared social data, enabling an ecosystem of third-party social products built on the protocol. The FABRK protocol can be thought of as a data brokerage that facilitates transactions directly between users and the social products they use, ensuring that data ownership is retained solely by users from which the data originated. The FABRK protocol enables an extensible platform for the next generation of social products. FABRK allows its users to own and sell their own data, own and sell their own content, as well as get paid for viewing advertisements and engaging in other digital behaviors. Ultimately, this puts power, profits, and connectivity back in the hands of users. The FABRK Protocol utilizes a multi-level Delegated Proof of Value (DPoV) consensus model, similar to Delegated Proof of Stake. Voting responsibility is distributed across participating users according to a combination of FAB token staking and a protocol-level metric representing the user’s historical contribution to the social network. Distributing voting power in this way allows for good actors to direct the development of FABRK Protocol in a straightforward and decentralized manner. Delegate Nodes, who process transactions and maintain the FABRK ledger, can earn newly emitted FAB tokens. FABRK is open to third-party developers. The FABRK Protocol manages privacy and verification so that product developers can focus on leveraging the data that users’ have chosen to share, helping users discover the content, people and opportunities they are looking for. Our approach gives users and apps a standard protocol for monetizing and voluntarily exchanging data and attention while allowing users and product developers (rather than social platform owners) direct control over user experience.

Link to Roadmap: https://www.fabrk.io/#roadmap
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