DGAP-News: Global Blockchain Mining Corp. / Key word(s): Miscellaneous
FORK Commissioned by Jamaa to Build the NUOVOCASH Decentralized Social Networking Blockchain
13.12.2018 / 06:01
The issuer is solely responsible for the content of this announcement.
Jamaa, which means ‘friend’ in Swahili, is a decentralized social network that is built around the idea of using blockchain technology to deliver a social media experience based on high-quality content, as opposed to advertising. FORK has been commissioned by Jamaa, a UK-based technology company, to perform development work to create a Plasma sidechain to the Ethereum network called NUVOCASH on which blockchain-based, content-driven social networks can be built, thus enabling Jamaa to operate a social network specifically for East Africa.
This development work will be done in exchange for 5% of the genesis tokens of the NUVOCASH blockchain (NUVO tokens). FORK is also being retained to provide services related to the crowsdale of NUVO tokens, which will be used on Jamaa’s social network. Additional niche communities are slated to be launched on the NUVOCASH blockchain in Q1 2019, including regional networks for India, Southeast Asia, and the Philippines, as well as an Esports community.
Vancouver, British Columbia–(Newsfile Corp.
– December 13, 2018) – GLOBAL BLOCKCHAIN MINING CORP. (CSE: FORK) (OTC Pink: GBCHF) (‘FORK’ or the ‘Company’) is pleased to announce that it has entered into a memorandum of understanding with UK-based Jamaa Online Limited (‘Jamaa’), in which FORK will develop a decentralized social network and communications platform called NUVOCASH that Jamaa will use to operate social network communities. This network will be programmed so that users can earn tokens in exchange for posting original content, curating content from other places, and even performing actions as simple as voting and commenting on content. The network can be adapted to accommodate other niche-focused social networks, also with user-monetization capabilities. In exchange for its development services, FORK will be paid five percent of the pre-mined NUVO tokens (genesis tokens), which will act as Jamaa’s native cryptocurrency. Further, FORK will be providing services for NUVO’s crowdsale, the details of which will be provided in a press release to follow at a later date.
The concept of monetizing social network users’ participation is built on the idea that human attention is both a limited resource and a valuable resource – particularly with regard to identifying high-quality content, and filtering out low-quality content. Through a PoB (proof-of-brain) algorithm, tokens are issued to users in exchange for making contributions to the network.
For content creators, their postings contribute to the network by providing content for others to enjoy. For content curators, their work to hand-pick high-quality content contributes to the network by introducing interesting and community-relevant content. For users who vote and comment, their reactions to content provides valuable data and insights about users, which can easily be segmented and used to filter content based on the quality, as determined by users.
The tokens earned for these actions will inevitably have value, because networks can offer premium or subscriber-only content, for which access can only be purchased with the token. It is then likely that there will be demand for such content, by virtue of the network’s ability to deliver top-quality content, unlike ad-based social networks which have an incentive to bias content that appears on a user’s feed.
The network that FORK will be building for Jamaa will be a Plasma sidechain to the Ethereum network, with unprecedented scalability. At the outset, Jamaa will launch its flagship social network Jamaa , for the East African population segment using the same software that powers Steem and EOS. However, in late February, Jamaa will hard-fork the NUVOCASH blockchain to use the technology that FORK is developing. Around this time, Jamaa’s parent organization will also introduce three other regional social media networks on NUVOCASH; one for Southeast Asia, one for the Philippines, and the other for India, in partnership with major regional media companies. Through a partnership arrangement, FORK and associated companies are also planning to add an Esports gaming community to be hosted on this blockchain network.
Through this deal, FORK is set to become one of the major Witness node operators on the NUVOCASH blockchain network, which is expected to be one of the largest blockchain networks, by transaction volume, as early as in Q1 of 2019. Witnesses are the equivalent of cryptocurrency miners for Delegated Proof of Stake systems like NUVOCASH, Steem and EOS.
‘We’ve been very excited about Jamaa from the very beginning, it is equipped to perform as a major-league social network’, said Shidan Gouran, President and CEO of the Company. ‘The blockchain technology that we are developing for Jamaa’s blockchain, the NUVOCASH network, will be a groundbreaking advancement in distributed ledger technology, which will be capable of scaling to the size of Facebook or YouTube, all while remaining decentralized.
Additionally, since it will be a Plasma sidechain to Ethereum, the network’s proprietary crypto asset will be an Ethereum ERC-20 token. This means it can interoperate with the many software systems developed by the Ethereum ecosystem, including the various Ethereum wallet providers.’
FORK Chairman, Steven Nerayoff, states ‘Jamaa’s NUVOCASH blockchain network is on course to become the world’s first decentralized social media platform that allows for censorship-resistant publishing while, at the same time, allowing for democratic moderation and governance of the network by the network’s participants themselves.
In short, it can potentially turn social networking into a medium like email, where many social networking service providers and individuals can communicate and share content with each other on a global scale, with no central authority.
The significance of this breakthrough should not be underestimated and we view it as a quantum leap in the evolution of the Internet itself. Jamaa is the first such community to run on the NUVOCASH network.’
As of today, Jamaa’s beta version will be available to the public. There are currently 1,400 beta testers signed up.
The production platform is expected to launch in Q1 2019, with an anticipated user base of more than 2,000,000 members based on the existing community size of Jamaa’s affiliate partners.
For access to Jamaa’s beta test version, please see http://www.
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12.2018 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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