Over the years, the world of online content has become<br />increasingly convoluted and disjointed. The best articles get lost beneath an avalanche of biased pieces,<br />clickbait and content that’s too lengthy to read. All of this adversely impacts<br />the average person’s ability to access credible media outlets that allow them<br />to remain informed in today’s ever-changing world. In the digital age, the biggest issue confronting the news<br />industry is verifiability. In other words, how can readers be certain that what<br />they’re reading is true? Moreover, how do they know whether a particular media<br />source is trustworthy? The growing lack of credibility within the media industry became<br />the impetus for Ran Reichman and Rani Horev to create a fresh alternative to<br />today’s prevailing media model. Known as Snip, this innovative news site delivers short, to-the-point summaries<br />of the day’s most important stories and events. Through the use of<br />state-of-the-art machine learning algorithms, Snip allows readers to tap into<br />targeted news feeds on topics customized around their interests. “I founded Snip in May 2016 with machine learning and data science<br />specialist Rani Horev, a co-graduate of the elite Talpiot program of the<br />Israeli Defense Forces,” said Reichman. “Both Rani and I were frustrated by the<br />low quality of news and how hard it was to find high-quality, interesting and<br />brief content. Basically, there was a lot of long and good content and a lot of<br />short and bad content, but almost no high-quality short content. We started<br />Snip as a small Facebook page for friends and family and it gradually grew to<br />more than 30,000 users and 1,400 paying subscribers.”When asked for a basic overview of Snip’s value proposition,<br />Reichman was succinct: “Snip is a news platform which keeps you updated on<br />things that are happening in the world, personalized to you and in a short and<br />concise format,” he said. “The headlines are anti-clickbait, allowing you to<br />understand what the story is about before clicking on it and wasting your time.<br />Snip quickly learns what you care about and provides you with stories on those<br />topics, in addition to enlightening stories on other topics.”The platform’s core model, Reichman said, is predicated on a<br />distributed system where a worldwide collective of content generators curate<br />short news submissions, or “snips,” that are then read by others on the site.<br />Snips can be accessed in a number of different mediums, including audio and<br />video, in addition to traditional, text-based posts. At its core, the site is<br />censorship resistant — a characteristic generally viewed as a key element in<br />the democratization of journalism. In<br />gathering and curating online content, site curators are incentivized and<br />rewarded for their efforts. The Snip online community connects writers to<br />readers directly, mitigating the risk of censorship and bias inherent in the<br />legacy news industry.This<br />entire process is seamless, with end users able to take in their own collection<br />of snippets which are personalized through machine learning algorithms. The<br />ultimate goal is to ensure that users can have a quality site experience<br />without needing to understand the intricacies of the distributed technology and<br />cryptocurrency systems undergirding the site.Writers<br />can generate income from their efforts. Currently, those rewards are in the<br />form of fiat currency with plans to transition to the site’s native<br />cryptocurrency, SnipCoin, an ERC20 token secured by the Ethereum blockchain.Readers<br />will have the ability to utilize SnipCoin to purchase premium services such as ad-free<br />news feeds, audio snips and customized written content. Additionally,<br />advertisers will eventually be able to use SnipCoin to purchase ad space to<br />increase their visibility on the platform.SnipCoin distributions will begin in late September with the<br />commencement of Snip’s token sale, where a total of 3 billion coins will<br />eventually be released. The initial coin offering (ICO) is valued at $8<br />million. Upon completion of the ICO, the project will launch in a closed,<br />invite-only alpha format for the purpose of testing critical features germane<br />to the site such as comments, voting, customized news feeds and spam<br />protections. Reichman, for one, has strong opinions about ICOs, noting that<br />project developers often launch ventures without any credible evidence of a<br />functional product or service model. Snip, he added, transcends this as a<br />result of already having tens of thousands of active users, as well as over a<br />thousand paying subscribers. This proven functionality, he said, should give “our ICO<br />participant confidence that the Snip team will create a product people will<br />actively engage with and enjoy.” A New Era of Blockchain-Driven ContentBlockchain-based news delivery offers immense possibilities in<br />terms of how news could be digested, whether on social media or mainstream<br />media feeds. This nascent technological movement has the potential to decentralize<br />control, remove third-party intermediaries from public news access, prevent<br />censorship and promote bias-free content. According to Reichman, Snip is uniquely positioned to capitalize<br />on three major trends that are currently reshaping the media landscape:Tokenization and Cryptocurrencies: Tokens allow companies to turn their users and contributors into<br />real stakeholders of the ecosystem, making them ambassadors of the product.<br />This is especially important in news, where distribution is a huge challenge.Machine Learning: Snip uses machine learning to find the best content online, then<br />offers it to writers and subsequently personalizes the content to users with<br />additional machine learning technology.The Rise of the Millennial Generation: As opposed to previous generations, millennials never got used<br />to reading print newspapers and expect an online-first news outlet — ideally, one<br />which is smart, interactive and to the point.When asked about his greatest hope and vision for Snip over the<br />next 12 to 18 months, Reichman laid out his thinking. “Our vision for Snip is to become the go-to place for news, a<br />household name which everyone can rely on for information on what’s going on,<br />and also to discover new and interesting topics of conversation,” he said. “In<br />18 months we aim to reach more than a million daily users.”To learn more about Snip and its token sale this<br />month, read the white paper, follow<br />Snip on Twitter or contact the team via Telegram.The post Snip and the Future of Distributed, Online Content appeared first on Bitcoin Magazine.
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