Note: Honest.cash has clarified that they are sticking with Bitcoin Cash’s Simple Ledger Protocol for their new token.
— Honest Cash (@honest_cash) October 30, 2019
The platform integrates Bitcoin Cash and enables users to tip, upvote, and invest in content on the site.
For example, if you are the first person to upvote a post, you receive a reward when a later person upvotes a post, and so forth.
Hymm.io: From Bitcoin Cash Incentive Platform to Ethereum dApp
Honest.cash had previously issued Honest tokens on the Bitcoin Cash blockchain. For this project, they’ll be transforming into an Ethereum-based project.
Other models operate similarly, including Cent.co, which calls the process “seeding.”
Barwicki and staff wrote:
“We surveyed users not affiliated with cryptocurrencies and discovered that the current name “Honest Cash” does not appeal to a broader user base. We want to open the platform to all writers and creators from different communities and we wanted to symbolize our new chapter with a new name, Hymm. Hymm is our version of the onomatopoeia, “hmmm”- the sound we make when we’re thinking of an idea.”
Hymm.io is currently a promotional placeholder page. It will later be the homepage of the same tech that previously powered Honest.cash, along with a new tokenized platform that will have important differences.
According to the Hymm token’s whitepaper, it will be launched on the Ethereum blockchain.
This will transform Honest.cash/Hymm from a primarily Bitcoin Cash userbase to a more universal one.
Hymm.io is offering a token sale as part of the rebranding and launch initiative. The staff to date have been part-time at best. See this reporter’s interview with founder Adrian Barwicki for more.
With proper funding, things could be substantially different. This can be said about plenty of struggling web companies, but most of them don’t have a direct pipline into crypto finance.
Crypto Social Media: Offsetting The AI Recession
Incentivized blogging and social media are a glimpse of a future where humans do less and less manual labor.
Labor-saving devices and artificial intelligence will transform society, and our economics will reflect it. Cent addresses this in their manifesto.
“The days of the 9-to-5 being a standard part of human life are ending. Robots and code can, will, and should replace all jobs that do not rely on something uniquely-human.”
It will seem both valuable and reasonable to spend money buying digitally made goods. It will also be seen as time well spent, creating such things.
Blockchain will make this coming reality much more smooth universally. With no interruption from government et al, people will be able to take charge of their own financial destinies.
Hymm, Cent, Yours.org, and other platforms built around the idea of using crypto to compensate good content, are only the rough beginnings.