Synereo, the blockchain start-up company, has collaborated with two Blockchain tech app plays, LivelyGig and Factom.
Dor Konforty, CEO of Synereo, said, "Synereo's social contracts will benefit greatly from Factom, allowing users on the network to establish global reputations of different kinds. Parties can publish contracts set up through Synereo to Factom, followed by their execution traces, and eventually update their global reputation scores upon the successful completion of the contract. It is easy to imagine a time when a reputation built on this kind of mechanism is the only way to do business."
LivelyGig is developing a decentralized and distributed employment market, in order to support improved social interaction between the demand and supply participants for freelance work or gigs. It won $300,000 in the recent Texas Bitcoin Conference Hackathon, and will take its project to the next level by developing it completely on top of Synereo's distributed tech stack.
LivelyGig Founder and CEO Ed Eykholt said, "Synereo and LivelyGig both rely on attention economy principles, which reward participants for attending to content that might be mutually beneficial as well as for building trust. In the case of LivelyGig, this interaction starts with the parties finding each other. Their agreement to enter into a conversation is the initial phase of a private, social contract that is the basis for the next stages, including smart contracts for work, payments in cryptocurrency, and accumulating reputation".
Factom, on the other hand, allows customers to publish and verify any kind of digital information. Factom's time stamped immutable ledger will be incorporated into Synereo's decentralized social network platform.
Peter Kirby, President of Factom, stated, "This is a great opportunity to use Factom's blockchain technology to build identity and reputation tools and explore new ways of looking at the attention economy. Synereo is building a fascinating smart social networking platform."
