Foresting – Blockchain Based Social Media Service

Overview:

A new blockchain project, “Foresting”, is developing its platform to provide three main services. The three departments are: social media Foresting, Foresting Bank and Foresting Lab. Foresting is a social media platform which aims to distribute fair value to the platform owners. Foresting Bank will provide financial services to the platform users who will create content. It will act like a digital bank for the users. Foresting Lab will support and help the Foresting Network to grow. Foresting Network resembles the platform community and the content creators.

Difficulties Faced Today:

The social media platforms such as Facebook, Instagram, Pinterest, SnapChat, Twitter, and LinkedIn are centralized in nature. People share content, ideas, thoughts on these platforms without having the idea about the rewards behind this. The user data are taken from these platforms and sold to companies for advertisements and earning revenues. This leads to identity theft, privacy breaches, spam mails etc. Users’ privacy and security is lost today on social media platforms.

The content creators do not get their deserved share of profits from such platforms. The shareholders and the platform operators take up most of the profits generated thus leaving content creators in an unfair system.

Solution:

Foresting Network has come up with a solution to provide a better place for the content creators. The project is using blockchain technology to develop a rewarding social media platform. The Foresting Network ecosystem consist of three main components:

• Blockchain Based Rewarding Social Media Foresting:
It will give rewards to the content creators for creating contenting and sharing it on the platform. The content creators can submit content in any form like text, images, videos, audio, or live broadcasting. The social media Foresting will encourage content creators to create content faster than traditional platforms.

• Foresting Bank:
Foresting bank will provide financial services to the content creators. The contributions of the users on the platform will be assessed by the Foresting bank. The quality of their content and their contribution on the platform will decide their which financial services will be accessible to them.

• Foresting Lab:
Foresting Lab will develop an offline infrastructure to support the platform community and the content creators. The content creators can get a physical space with equipment needed such as cameras, microphones, lights, speakers, etc so that they can come up with better and quality content.

Team:

David Kim – Founder
David Kim is an M&A investment specialist and business architecture specialist and accelerating companies in diverse industries from manufacturing to ICT. Currently he is the founder of foresting and the CEO of 500V, an alliance venture company which has over 500 innovative companies based on life and technology both online and offline.

Daniel EOM – CEO
After graduating from California state University, Los Angeles with the degree of Business and Economics, Dan joined the McKinsey & Company as the business analyst. He used to be the Executive Director of Valuable Accelerator, an accelerating program helping entrepreneurs in Asia expand to new global markets.

Woon Hee Lee - CTO
Woon Hee Lee is the head of Gener Crypto, a professional firm that uses blockchain technology for business. Since 2013, he has operated and expanded a variety of crypto ecosystems, like "DDENGLE" which is one of South Korea's biggest cryptocurrency community. He is also the publisher of "Bitcoin Made Easy" and "Crypto Exchange Made Easy".

Token Matrix:

Token – PTON
Total Supply – 24 Billion PTON
Price – 1 ETH = 49,999.5 PTON (Pre-Sale) & 1 ETH = 33,333 PTON (Public Sale)
Soft Cap – 90,000ETH
Hard Cap – 170,000ETH

Verdict:

Pros:
• The project has good on its Telegram group. It has around 3000+ members.
• The team behind the project has experience in fields like blockchain, cryptocurrency, android development, PR, marketing etc.
• There are 25 advisors for the project who have different backgrounds like blockchain, marketing, finance, ICO and many more fields.
• The whitepaper has detailed information about the project.
• The project has partnered with DeCentre, Sony, Google, FOX, WB, BitForex, Loreal, Olay etc.

Cons:
• The MVP of the project is not currently available.

Website: https://foresting.io/
Whitepaper: https://forestingnetwork.com/whitepaper/FORESTING_Whitepaper_Eng_Ver.0.92.pdf?ver0.2
Telegram: https://t.me/foresting_global
Twitter: https://twitter.com/foresting_io
ANN Thread: https://bitcointalk.org/index.php?topic=4906179

Bitcointalk Username: rshetty3344
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1907004
ETH address: 0x137F3CC2750C9b9bF639Cd4Bf8CB63c56823aC3c