With the announcement from Facebook that it will introduce its own digital currency soon, UHive’s thriving community of investors and early-adopters have been abuzz with what this will mean for UHive’s very own UHive Token, and even the social network as a whole. Here, we shed some light on just how this move will help catapult UHive onto the global scene;
Facebook’s currency [Libra] and UHive’s Token, are a very familiar story. Much like when Apple Music came along, most thought it would be the death knell for Spotify — in fact the absolute opposite was true. By launching a music streaming service, Apple, one of the most recognized brands in the world, it paved the way for music streaming to become completely mainstream, which in turn raised awareness of all services — Spotify included! This makes Facebook’s announcement, possibly a perfect time to invest in UHive!
1- UHive is not defined by its digital economy. It is a complete and comprehensive social network, designed to provide several new experiences and features that have never existed in modern mainstream social media. Our growing digital economy is an important feature of UHive, but it is by no means how we define ourselves. We instead aim to be completely competitive with current social networks in all aspects.
2- Only 5% of users are expected to take part in the digital economy, meaning the vast majority of our success will come as a result of users adopting UHive as a means to socialize and have fun. We foresee that UHive tokens will become popular as a result of general users adopting the network, and not the other way around.
3- Facebook’s Libra digital currency is not analogous to the UHive token. Libra is designed to be much like dollars or euros, a stable currency that doesn’t fluctuate and doesn’t allow opportunities for investment and significant gains in return. Meanwhile, the UHive token has unlimited potential for significant increased growth in value.
4- The idea behind digital currencies was that a decentralized currency gave greater power to the consumer against the abuse of large organizations and governments. Facebook, however, has had countless scandals surrounding its breach of privacy and trust in how it has handled consumers’ information. Rather than being an example of a decentralized currency, it instead is another example of putting all the power into the hands of a large corporation. It also further sets out to act like a stable currency, meaning it will have to interact with countless international laws and regulations. It is by its nature decentralized.
5- The success of one cryptocurrency does not impede the success of others. To the contrary, a rising tide lifts all boats. Facebook’s Libra announcement solidifies and recognizes the tremendous success of new cryptocurrencies, and does not detract from UHive but instead helps drive further interest in digital currencies and platforms. The hype surrounding Bitcoin, for instance, has contributed to the general growth of the digital economy. If Libra is popular, it will encourage increased investment and growth in other digital economies such as UHive. The social media market is massive (in the billions) and there is plenty of room for growth for incubator networks to rise and gain millions of users. Given the different natures of UHive token and Libra, they do not compete with each other.
6- UHive and the UHive digital economy is all based around rewarding the people who contribute to the success of the social network. Facebook, Twitter, Snapchat, Instagram, and all other major networks, exploit their users, who are never rewarded for content creation or activity. This contrasts with UHive, whereby advertising revenue is regularly shared with users based on their engagement levels through the form of UHive tokens. Our philosophy that our users are part of our team and deserve a share of the reward is one of the cornerstones of our platform. Companies like Facebook create digital currencies in order to ultimately enrich shareholders and head executives. UHive is designed for the people who use our services.
7- Facebook’s trend towards a digital currency confirms UHive’s creative vision and confirms it as one of the builders as the next generation of social media. UHive foresaw that a digital economy can be a huge asset to social networks, but unlike Facebook, UHive has recognized it and incorporated it from inception over two years ago. The UHive token is built into the architecture of the social network, making it integrate seamlessly within the app and allow for easy and intuitive use. UHive Token was not an “after-thought” by any means.
8- UHive’s main aspiration is to provide the ultimate user experience. The UHive token is but one important part of this experience and the primary foundation of our network has always been our extensive research into human psychology and pleasure. All of UHive’s features, from its unique layout, incentivized content creation, Grey World setting, digital economy, and compatibility with VR technology together place UHive as the true social network of the future.
UHive is a new FREE, dynamic and innovative social experience, designed for mobile devices. It is divided into two Worlds: The Civilized World and The Grey World (anonymous). Allowing you to be part of a divergent world in contrast to the traditional world of social networking.
UHive will be released in Beta Q4 2019, and is available as an early-access app right now on Android and iOS here https://www.uhive.com/invite?c=YLEUMX