“If you must say there are some risks in YOYOW, it must be the YOYOW team”, Zi Cen, the cofounder of YOYOW (You Own Your Own Words) said at the meeting of the Blockchain Promo China Tour 2017, which was held yesterday afternoon in Shenzhen.
I was joking with him, “the price of YOYOW has risen to 2.8 yuan before you get on stage and now it drops to 2.3 yuan because of what you said just now, what a big loss!” When I had finished, every one burst into a laugh.
A jock is a jock, but if we look back carefully the meeting yesterday, a lot of information can be discovered.
During the Q&A session provided for the present guests, I asked Zi Cen the following two questions.
The first question: after the launching of YOYOW, how to ensure that the problems posed by users can be solved in time?
The YOYOW team will focus on the problem about the base or application related technology, as for the issues in application layer, in the philosophy of “let the professionals do professional things”, we will transfer those issues to professional teams.
The second question: how to ensure that the excellent articles or authors on the platform can get a fair income?
The answer is YOYOW token. Although YOYOW will not design the complicated rules like Steemit or SP, the YOYOW token owner will decide the earnings of each article (it seems that there is no difference between YOYOW and Steemit in this point).
Before the meeting yesterday, a lot of people, including me, all thought that YOYOW was just a Chinese version of Steemit. But now, it can be concluded that YOYOW may have a very different future with Steemit. Maybe YOYOW learned and imitated a lot from Steemit at the start, but now YOYOW is going on a path totally different from Steemit.
In terms of content, the content of Steemit is stored on the block chain of itself, while YOYOW doesn’t store any content by itself, it only stores the address like links or similar ones (which are easy to find the content source). As for the content of articles, it is stored on the third-party platforms. I think this is the biggest difference between YOYOW and Steemit. Of cause, on the other hand, YOYOW is automatically free from the content checking problems which we are worry about previously. Besides, the relationship between YOYOW and other third-party content platform like Zhihu, Douban and etc will turn into a cooperative one instead of competitive. YOYOW provides the interface to third-party, the extended plugin and the third-party access framework, and finally exists as a platform purely devoted to be the block chain media content public chain.
I doubted that it is hard for YOYOW to burn money in user stimulation like Steemit due to its 1 billion’s valuation. But now, I am clear about it. According to the above point of view, apart from the investors, the third-party institutes like advertisers and cooperators may be the most important factors to decide the future value of YOYOW.