[SPHERE ICO]-FORWARD THINKING SOCIAL MEDIA AND ADVERTISING

There is a hundred-billion-dollar industry that is using you to generate this huge sum. You have the potential of receiving a fraction of this money if all goes well for Sphere Social Limited. Sphere Social is a company that wants to recreate social media. In its process of re-creation, it is going to disrupt the advertisement market and shake up the internet in a move that may very well change the way the internet operates.

We are currently using centralized systems in all our internet platforms. We have been experiencing a great deal of problems because of the trust we have for this system and the unwillingness to change that we have shown over the years. How many times have we heard of data being stolen or people having their identities taken? These are just some of the challenges the centralized systems face. Cryptocurrency was facing the challenge of doubling spending back in 2008 when Satoshi Nakamoto came up with a solution that would help curb this. Blockchain was invented and it helped decentralize cryptocurrency systems which solved the double spending issue. This same system can be used effectively in many internet sectors to decentralize systems and overcome most of the challenges the internet is facing.

Blockchain uses a ledger like format which takes not of every transaction in its system. Nothing can be done without being recorded in the blockchain platform. It is hard to delete any data that has been added to blockchain. Changing data within blockchain discretely is also impossible as all members of that blockchain will have a record of that change. This makes systems where blockchain has been applied very transparent. Nothing happens without the knowledge of the entire blockchain. Sphere Social is counting on this system to create a transparent atmosphere in their platform.

There are a lot of blurred terms and conditions that are set by social media platforms. Most of the times users do not even read these terms and assume things are just fine. Back in 2012, Facebook omitted vital information in their terms and conditions. It had been carrying out research on the emotional responses it gets from its users for over four months before it added this clause to their terms and conditions. This is just one example of what social media companies may be doing to gather your data. Users may be steering blind not knowing what happens with the data they create daily.

Social media platforms need to survive in order to offer the services we love. The first few years of Facebook, for example, was marked with constant losses. They had no revenue stream and the site was not as popular as it is now. Even when it started gaining popularity, it still suffered losses as it lacked a revenue stream. Facebook then realized they have a large market they can reach and used this to attract advertising companies. This method worked as Facebook started making profits. This also meant that they needed to monitor user data to create an algorithm that would target users that show interest in these products. This at least happens in a controlled setting as there are laws Facebook must abide to. Now, what about the rest of the internet?

The data we create online everyday is probably being collected by some entity in the internet. The term data broker confirms their presence. These are companies that collect a lot of information on random internet users and group them according to the sites they visit and searches they make online. They sell this data in a fashion similar to that of auctions where the highest bidder of a set of data becomes the buyer. So, there are people out there tracking your online movements and profiting out of your data. The world is a cruel place but there is always a silver lining. Decentralization is the silver lining in this case.

With a decentralized system, it becomes harder tracking users and even collecting this data. Since every action is recorded, users will know how their data is flowing within a system operating on blockchain. Sphere will use this system as assurance to their members that their data is safe within Sphere and they can see how it moves and where it is stored. The decentralized system will also open up a way for Sphere to help its users gain from the billions that are spent yearly in advertisements. Sphere Social has a program whereby users can allow Sphere to use their data for advertisements in exchange for utility tokens that are of value in the Sphere platform. Social Activity Tokens or SAT was created by Sphere to change online advertising and to create income for its members.

Sphere anticipates creating a large following with its social platform. This following will form the population it needs to create large amounts of user data that is able to entice advertisers to use its platform. Sphere will be paying its members in form of SAT for data they allow Sphere to use. Members will control the terms of the agreement. This will include the type of information they can use and how this information will be used. The terms of the agreement will dictate the amount of SAT that Sphere will pay its members. The SAT that will be paid to Sphere members can then be used in its online market. Sphere will have an e-commerce space. It will attract companies who want to reach out to a wider market for their products. Selling in this space will come at a small fee payable in SAT. Anyone within the Sphere platform can use it. Sphere will use the online marketplace as a way of generating revenue through the fees they receive. This revenue will be crucial in ensuring that Sphere Social is able to run itself without any hiccups.

The predicted increase in Sphere members will also be important in securing the value of SAT. Sphere plans to limit the number of SAT that will be in the market. The amount of SAT produced by Sphere is fixed at 1 billion. There is a chance that all of them will not make it to the market. Sphere plans to destroy whatever will not be sold. In economics, the value of currency increases if there is a huge demand but a limited supply. Sphere hopes that this growth will create the huge demand that will shoot up the value of SAT. For this reason, Sphere is conducting programs that are aimed at increasing its user base. There are a number of affiliate programs and bounty programs that Sphere is running on various internet platforms. Sphere is awarding internet users with SAT for inviting people into their platform. This move will encourage more people to spread information about Sphere in all platforms thereby creating anticipation for its services.

Sphere Social Limited is concentrating on becoming the transforming tool that will initiate the change that is much needed especially in social media platforms. Decentralizing data is the best security that can be given to the data that users create every day. It will also end up saving millions in US dollars for companies that do online advertising.

Sphere is in the last sessions of its public ICO program. This program was created in order to come up with the funds that are needed to actualize the Sphere project. A lot of technicalities need to be sorted out and they will require enough funds. The SAT are being sold in the public ICO to raise these funds. Purchasing the SAT can be done through this link https://sphere.social/?ref_code=dyx6c6su4cz8. You can purchase the SAT through fiat currency or cryptocurrency such as Bitcoin and Ethereum. The soft cap target set by Sphere was 1.5 million in US dollars which has already been achieved.

The ongoing public sale and the pre ICO sale helped Sphere achieve this. The remaining SAT will be sold up to April 9th, 2018 at 2100 UTC. After this, token distribution will stop and purchasing or obtaining the SAT will be through the Sphere platform. About 60% of the funds collected will be used for the development of Sphere. The rest will cover the remaining areas of interest such as marketing and legal services. 5% will be kept as security for the company. More on the SAT economics and distribution can be read on https://sphere.social/wp-content/uploads/2017/12/Sphere_Whitepaper_v1.7.4.pdf.

Visit Sphere on their following links to learn more.
Website: https://sphere.social/
Reddit: https://www.reddit.com/r/SphereSocial/
Twitter: https://twitter.com/SphereOfficial1
Facebook: https://www.facebook.com/SphereSocialNetwork
Medium: https://medium.com/@sphereofficial