Medium’s largest entrepreneurship publication, The Startup, has published an article about Serey – a Cambodian social media platform on the blockchain that I have co-founded. I will publish the article here as well.
SEREY: an exciting Social Media platform on the blockchain in Cambodia
There is a new Social Media platform that specifically targets the Cambodian market. The country that saw nearly a quarter of the population decimated during the civil war of the 60’s and 70’s, the Khmer rouge regime, and the subsequent famine, is quickly rising. Accompanied by its astounding economic development of the past two decades, the country has clearly shrugged off its troubled past and is eagerly looking to a bright future. Accompanying its development also comes adoption of new technologies.
One such technology is blockchain. It is now adopted by the Serey team for their social media platform where content creators like writers and singers are rewarded for publishing their content. The Serey platform is recently live, and already has many users writing content ranging from fictional short stories to cryptocurrencies, self-made beauty products, and culture. The system is based on a democratic voting system in which every user can vote on articles. Dependent on the number of votes and who have given the votes, content creators are rewarded with the platform’s native cryptocurrency called Serey coins (SRY).
On the founders of Serey
The founders of Serey are two Cambodian brothers who were born in a Cambodian refugee camp called Khao I Dang which is on the Thai-Cambodian border. During the Khmer rouge period of 1975–1978, their parents fled the country and ended up in the camp. For a more detailed recollection of life in the camp, one of the founders’ memoires of the camp has been published by the Foundation of Economic Education which is located in the United States.
In 1991, at the age of around 5–6 years, the founders were granted residentship in the Netherlands. They have been educated in Economics (Amsterdam, the Netherlands) and Philosophy (Macau and Dublin, Ireland). Influenced by the philosophy of classical liberalism and Friedrich Hayek’s theory of dispersed knowledge, the two founders have sought for ways to utilize blockchain technology to create a platform where people can express their creativity in Cambodia, share knowledge, and engage in thoughtful, civilized discussions. At this moment, there is no such online platform yet. The founders are hopeful that one day the Serey platform will be seen as the testimony that Cambodia is full of talented and vibrant people.
On the Serey Vision and Philosophy
Serey aims at becoming a premier Social Media platform where people can express their creativity freely. Realizing that every individual knows just a fraction of what is collectively known and that the nature of our collective knowledge is therefore inherently decentralized, Serey would like to encourage sharing of the unique information that individuals possess through the Serey platform.
In short, Serey wants to create an open platform where everyone is free to enter, no matter what their station of birth, race or economic power is. It is a place where anyone, anywhere may exercise their creativity without fear of being coerced into silence or conformity. Where users share fun and interesting content with each other, while making friends.
On the Serey Mission
The Serey mission can therefore be summarized as:
“Rewarding self-expression and creativity.”
On the differences between Serey and traditional Social Media
Traditional Social Media like for example Facebook and Twitter have generated billions of dollars for their shareholders by taking users’ content and selling it to advertisers. Instead of channeling value to a small group of shareholders, the participants of the Serey platform are rewarded for their writing. Hence, value flows to those that provide content.
The very first moment you join www.serey.io, you are offered a small amount of Serey which gives your voice a weight in determining what content should be rewarded.
On the Serey platform and its features
Serey is principally a fork of Steemit — another social media platform on the blockchain — and therefore essentially makes use of the Graphene technology behind Steemit and Bitshares. However, where Steemit is trying to conquer the world, Serey is entirely dedicated to the people of Cambodia. Serey believes that regional differences require different user interfaces, and specific functionalities that match the people’s cultural makeup and their level of sophistication with blockchain technology. The Serey team have therefore chosen to create a platform with:
1) A brand new layout
2) A market place section
3) A Khmer language option
4) An advertisement section
5) A simplification of the reward system
The Serey DEX in May/June, 2018
In addition to the above changes, Serey will release a Serey Decentralized Exchange (Serey DEX)which is currently being set up in cooperation with developers close to Bitshares and Steemit. It will be a full-fledged decentralized exchange accessible by anyone, anywhere in the world.
Next to the Serey coins (SRY), the exchange will have the most important cryptocurrencies listed like Bitcoin, Ethereum, Dash and also such national currency digital assets like bitUSD, bitEUR and bitCNY. With the Serey DEX, Cambodian people will have an interesting cryptocurrency trading platform to look forward to. It will be available in English and in Khmer — the native language of the Cambodian people. Currently, there is not one local cryptocurrency exchange in Cambodia yet.
Other exciting features on Serey to look forward to this year are an online betting system, improvements of the market place section, and an integrated chat similar to that of Facebook.
On the Blocksimple Partnership
The Serey team has a partnership with the highly regarded USA based blockchain consulting and development service, Blocksimple, which has experience developing blockchain projects in the USA, Cambodia, Vietnam, and Ukraine. Next to consultation on the development of the Serey platform, Blocksimple has also developed its pre-sale website, and continues to be an important partner for Serey.
On the Serey Whitepaper
Serey has released their whitepaper publically, which you can find here.
On the Pre-sale/ICO
Currently, Serey is going through a pre-sale. There are 100 million initial Serey coins created of which 55 million is sold to the public at the starting price of $0.015 and gradually moving up to $0.020. The team is hoping to raise at least $500,000 which will give them enough breathing room to develop the platform for the next 5 years.
In addition to a rise in the price of one SRY, investors can also benefit from (1) receiving interest on the coins due to its Delegated Proof of Stake system and from (2) an increased weight of their voting power when they upvote articles on the Serey platform. This means that they have more influence on the distribution of rewards to articles.
In order to take part in the pre-sale, one should make an account on www.serey.io first.
A link to the pre-sale website is www.sale.serey.io, and the payment methods are BTC, ETH and LTC. More information on the pre-sale can be found in the whitepaper (pp. 14–15).
If you have any questions, you can reach the team through:
Facebook: Serey Platform / Serey.io