xHumanity: Building a Trustworthy Social Media Platform

Originally Published: https://hodlershub.com/xhumanity-building-a-trustworthy-social-media-platform/

Hello! Who are you and what is your company/project?

My name is Cosmin Vranceanu and I’m the CEO and angel investor for the xHumanity project. I’m a Romanian citizen like most of our team. xHumanity represents our dream for a better world. As the name suggests our app involves people for the people. We use blockchain technology to solve social problems, distribute equity rewards, and in the end to build a different social media network.

Blockchain technology has much to contribute to the evolution of the Next Generation Internet and towards achieving high levels of Distributed Trust seamlessly and unobtrusively, by explicitly increasing the trustworthiness of the content shared through future media. Trust is essential to societies and blockchain has the potential to shift the focus from trust in people and institutions to trust in the technology being used.

What’s your backstory and how did you get the idea for the company/project?

I have a lot of experience in designing and implementing hardware and software solutions. I own a few companies in Romania in different domains like engineering, software, and education. This is the first company that I have built in the crypto “space”.

Looking at many young people how inappropriate they use technology, we start to think how can we change that. We start to identify problems one by one including social problems in the current social media network applications. Then, of course, to search for solutions. In the end, the idea appeared and here we are.

What problem(s) is your company/project trying to solve?

1. Fake news presence in news feeds

2. Unwanted ads for every user

3. Affiliation charity issues

4. Unfair rewards for users behavior

5. Centralized decision-making for application development

What makes your company/project unique?

Our solutions

1. Game of Truth implementation (AI-based) — This is very important in trust-building. For example, one implementation of this in our project will be opinion pools. Anonymity and privacy from blockchain plus rewards from crypto will allow people to express their feelings, thoughts, and opinions more accurately regarding some subjects. We are introducing this pool into game theory and obtaining highly accurate results. (ex. election pools)

2. Advertising system oriented towards the users- The advertising system will be user-oriented. In other words, companies will be able to pay and buy higher rankings in the system. Users will choose which ads to see and for how long.

3. Direct donations to wallets- Blockchain is perfect to eliminate middlemen in financial transactions. This way the donations will arrive directly at their intended destinations. Also, Blockchain offers us tools to certify the transactions.

4. Reward users’ consensus- The reputation system is one of the pillars of our system. We chose not to reward people for just likes/dislikes or comment activities. More than that we measure the quantity and content of replies on some particular post. In the next stage, we will apply basic emotions to weigh all users’ actions in the system.

5. Decentralized system governed by users- We designed a special app based on groups instead of individuals like the current apps. This allows us to implement a faster voting system. Governance is very important for the course of the app. If the users want to transform it into a more or less financial app that will be their choice.

Describe the process of launching the company/project.

After we identified the main problems in the current applications and searched for solutions, we started to put the main concepts for our idea on the paper. First, it was a redesign of the reputation (rating) system which is wrong today. Then we realize that trust is missing also between users and apps. So we made a study and proposed the Game of Truth to solve the trust problem. After, we designed the financial parts which includes: rewards, donations, UBI (Universal Basic Income), access to lending and borrowing services. The last part was about an advertising system which has to be governed by the users, like all important aspects in an app.

Finally, we wrote the White Paper, prepared a listing on exchange and that’s all. Here is the link for the Whitepaper: https://xhumanity.org/wp-content/uploads/2020/09/xHumanity_WP_v1.0.3.pdf

Since launch, how have you grown your company/project?

There were few stages to market the project. First we had to build a community. We published articles on news websites and also on forum websites. We had to organize a giveaway campaign on Telegram. Second stage was completed together with crypto exchange. It contained blog articles, video presentations, AMA and email campaigns. Next stage, which is ongoing, is about constant communication with our community: software updates, new partnerships etc.

From the first day we evolved a lot, like a company, team and community. Now we have almost 50k users .The growth has come with great responsibility for the users, investors and friends. We offer a few DeFi options for the users and we are building a MVP (“Minimum Viable Product”) . Also, we started building the MVP after starting the company because of a mistake made by our crypto advisors.

What are the biggest challenges you have faced while building your company/project?

Like any other company, we face our challenges. One of them is that we are building an app that is not very simple to understand. We use different technologies and concepts that are not easy to understand sometimes. Developing it on a blockchain is also not easy, because particularities of social media apps do not fit so well with blockchains now. We also need more investors to invest in the project. They are not easy to find in the crypto world.

Through starting the company/project, have you learned anything particularly helpful or advantageous about the crypto/blockchain “space”?

There is a lot of information circulating in the crypto “space”. The first thing we learned was to disseminate the information. There are many types of information. The real important ones for a project are quite a few, but you must be very careful.

Also, we learned that any project has to do, at least in part, something which is trendy in the crypto world. There is a big difference between traders, investors, and users. The difference between traders, investors, and users is how they behave in the crypto “space”.

How are you doing today and what does the future look like?

Today we are developing our MVP. We will show some of our concepts to the world. This month hopefully we will launch it. At the same time, we are building the first component of our ecosystem — the crypto jobs market. Next will be probably listing on a new exchange.

The main goal is to build trust between users and between users and the system. This combined with emotions and posts (images, videos) will offer us the possibility to create true memory virtual reality for people.

What have been the most helpful crypto/blockchain books, podcasts, and/or other resources?

For sure, online courses were the best. I recommend them to anyone who wants to start understanding this world. Then of course documentations for every major blockchain.

What is your advice for someone just starting in the crypto/blockchain space?

The first piece of advice, in my opinion, is: Do not ever forget that easy money easily goes. Train yourself is the most certain investment you can make in your life.

The second piece of advice is: Avoid scammers. Official offers never come on telegram or any other chat. Read the documentation of the project before investing. Search for team members and their social profiles.

Are you looking to hire certain positions right now?

No.

Where can we go to learn more?

Website: https://xhumanity.org

EtherScan: https://etherscan.io/token/0x8e57c27761EBBd381b0f9d09Bb92CeB51a358AbB

BscScan: https://bscscan.com/token/0x80dbA9C32b7aB5445e482387A5522e24C0Ba4C24

CoinGecko: https://www.coingecko.com/en/coins/extradna

CoinMarketCap: https://coinmarketcap.com/currencies/extradna/

Twitter: https://twitter.com/xHumanity1

Telegram: https://t.me/xHumanity

LinkedIn: https://www.linkedin.com/company/xhumanity/

Facebook: https://www.facebook.com/xHumanityofficial

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