(2016) Synereo: How to have fair agreements on the Internet
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Dec. 2020 edit
By 2018, Synereo seemed to have been “abandoned by developers.”
On a Reddit thread, someone said: “ Synereo’s amp is a dead token.” AMPs are trading today for ~$0.0495, but I’m not sure it’s the same token.
A July 2021 article in Yahoo! said “Flexa Network is the blockchain that works with AMP token. Flexa collaborates with Gemini.” No mention of Synereo.
Nevertheless, in 2015–16 the original Synereo, and its founders, raised good questions and promoted a discussion about the internet.
2016
Synereo is part of the decentralization movement. They are raising awareness that something is wrong with the Internet.
One question they have raised is, How do we have fair agreements on the Internet?
One problem is content creators do not get rewarded for their work. Most bloggers and photographers get nothing but “Likes.” Meanwhile, large data centers are gathering the results of our web searches and selling it to advertisers.
One problem in the world is the contracts are not fair and clear. When new users join a social media service they check a box indicating that they read and understood the legal terms and conditions. No one bothers to read this. Legally, we conceded our rights and have no one to blame but ourselves. This is a heavy handed, “take it or leave it” type of deal. One side of the exchange has no choice but to sign the agreement, or else they can not participate in the network.
An analogy can be made with the NCAA. College basketball and football games generate significant revenue, but the high level athletes don’t get paid for their work and sacrifice. There is a slight chance of making it to the pros, and a vague promise that a job will be given to them after their playing days are over. (2020 afternote: there have been changes made and movement for economic justice in this area.)
Another example is the corporate rules for vesting stock options. Non executive employees have restrictions about when they can vest their stock options (usually between 3–5 years). If they do not like the way this works, they can refuse to accept the job, or quit — but unless they become a high ranking executive, it is unlikely they will find better terms elsewhere. (2020 afternote: there has been a labor shortage, especially among highly skilled developers, and it will be interesting to see what and how corporations are made to share power.)
The problem is Take it or leave it. This is not the right way to make a contract and it creates resentment.
Synereo is building a decentralized social network
Since the Internet began, the exchange of information has been relayed through central servers. All our content, writings, images, and even personal data is stored on servers that are owned by large companies.
While the traditional internet is a hub and spoke model, Synereo is building a decentralized network. It is going to take on a shape of its own.
On Synereo’s network, the user will have control. The peer to peer exchanges will not be recorded or even seen by a central server. User activity — attention — will be kept private. Users will consent to share their content and their attention in return for compensation. As CEO Dor Konforty explained in a podcast, “The network will be decentralized, and compensation will also be decentralized.”
In what many consider a strong sign they are getting the nod, Synereo formed a partnership with Silicon Valley-based NFX Guild to develop decentralized applications (dApps) on top of their 2.0 platform.
Dec. 6, 2021 afternote:
In 2016, I contributed 10k dollars to Synereo’s crowdfunding, and the AMPs I received became worthless. There remains some confusion and a question about whether Synereo’s AMPs are the same as (and equal in value to) the AMPs trading today?
