Frequency Blockchain to Deliver Decentralized Social Experience to MeWe's 20 Million Users
AUSTIN, Texas, April 26, 2023 /PRNewswire/ -- Today at Coindesk's Consensus 2023 gathering, Frequency announced that popular social networking app MeWe has adopted the Frequency blockchain that will connect its 20 million users to the Social Web – an evolution of the internet in which social networking functionality is delivered as part of the web itself. The first phase of the initiative is to deliver a self-sovereign Social Identity that is fully owned by each user, in contrast to the established norm of centralized social media platforms that control users' data. By leveraging Frequency, a parachain within the Polkadot ecosystem, MeWe will be able to provide millions of people with the basic right to own their Social Identity. This Social Identity also serves as a foundation from which users will access an increasingly robust Web3 feature set that puts people – not platforms – in control of their data and value exchange in the digital world.
- The first phase of the initiative is to deliver a self-sovereign Social Identity that is fully owned by each user, in contrast to the established norm of centralized social media platforms that control users' data.
- However, until now, when blockchain technology has been applied to social networks – which entail high-volume transactions with low individual value – costs overwhelm a business model before an app reaches even a million users.
- MeWe has successfully adopted Frequency, demonstrating how the value of blockchain technology will be used to deliver decentralized social at the scale of mature, established businesses.
- The Social Identity includes a universal handle and enables users to leverage a single following and network of personal connections across any app that joins the Social Web.