FORTUNE - Crypto-focused social network Minds is a decentralized alternative to Facebook - one that lets its ~5M users promote their posts and transact by paying with digital tokens. The startup puts its money where its mind is and converts ~25% of its balance sheet, or ~$2.5M, into cryptocurrencies.
5 posts categorized "Minds"
Social Network Minds Pours 25% of Balance Sheet Into Crypto
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Minds, Decentralized and Encrypted Crypto Social Network Raises $10M
VENTURE BEAT - June 18 - Minds, the crypto social network with a focus on encryption and privacy, has raised $10M from the tech freedom organization Futo. Owned by Yahoo Games founder and WhatsApp seed investor Eron Wolf, Futo is dedicated to tech and policies that control computers back to the people. Minds targets user privacy, and it is based on open source technology. It has grown to ~14M since it received a funding round in October 2018.
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Social Censorship: Should Social Media's Policy Be Free Speech?
FORBES - Oct 27 - According to alternative social network Minds.com CEO Bill Ottman, freedom is the best policy. And, he says, it's also the policy that results in the least harm. Ottman acknowledges that we all want less hate speech and safe online communities. Rather than censorship, however, he advocates a policy of engagement. That's why he engaged Daryl Davis as an advisor for the Minds community. Davis is the well-known blues musician who, as a black man, has de-radicalized as many as 200 members of the KKK via engagement and conversation. Ottman wonders if that model is scalable with digital technology. Most social networks employ some form of AI to find and block objectionable content, but it, frankly, is far from perfect.
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Social Network Minds to Become Uncensorable
DECRYPT - Oct 21 - Minds, the Ethereum-based distributed social network which claims ~3M users, has partnered with decentralized startup Arweave to allow users to save their social media posts to the blockchain-based permaweb. Both Minds and Arweave have seen interest from prominent investors. Minds secured a $6M Series A investment in 2018, following an equity crowdfunding campaign. Earlier this year, Arweave announced a new $8.3M funding round from Andreessen Horowitz, Union Square Ventures, and Coinbase Ventures, which followed a previous $5M round.
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Facebook and Twitter Alternatives That Are More Free Speech Friendly
RECLAIMTHENET - July 15 - These alternatives have many of the features of Facebook and Twitter but don't silence their users under broad, far-reaching rules.
Gab - Free speech social network Gab launched in August 2016 as a private beta and opened up registrations to the public in May 2017. Gab states that "any user's political speech that is protected by the First Amendment of the U.S". Constitution will be allowed on the site. Gab gets 4.5M visits per month, according to SimilarWeb.
Minds - a free speech social network with a blockchain-based rewards system that was founded in February 2011, launched in alpha in 2012, and launched to the public in June 2015. According to SimilarWeb, it gets ~1.2M visits per month.
Parler - was founded in August 2018 and has already passed 1.5M users, according to its CEO John Matze, and receives 5.3M monthly visits, according to SimilarWeb. Parler's focus is on unbiased algorithms and free expression with its content moderation based on the US Federal Communications Commission (FCC) and Supreme Court decisions.
MeWe - a social network that focuses heavily on privacy and promises that there are no ads or spyware on the platform. It was founded in 2012 and launched publicly in 2016.
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