Mi2Cents Virtual Currency Mediator for Social Engagement
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Solution Overview
Problem
Current social media platforms do not provide monetary rewards for users who share their opinions, limiting engagement and failing to incentivize honest dialogue, and lack a reward system for mobile users who connect to advertiser websites.
Innovation Solution
The Mi2Cents Social Media Platform enables users to earn rewards by sharing opinions on various topics, with a wagering system that credits accounts based on responses to opinions, allowing users to purchase products and services through a central server platform.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If social media platforms allow users to share opinions freely, then user engagement increases, but platforms cannot provide monetary rewards to users
Solution Approach 1:
The patent introduces M2C credits as an intermediary virtual currency that bridges users and advertisers. Users earn credits by sharing opinions and advertisers pay in credits, avoiding direct monetary transactions while enabling economic incentives. This mediator resolves the contradiction by allowing engagement rewards without complex direct payment systems.
Solution Approach 2:
The system creates a virtual copy of economic value through M2C credits that can be earned and spent within the platform. This virtual currency copying real monetary value allows users to be rewarded for engagement without requiring actual monetary transactions, simplifying the reward mechanism while maintaining incentive structures.
2Productivity
If platforms offer monetary rewards for opinions, then user participation increases, but platform costs increase
Solution Approach 1:
M2C credits serve as an intermediary that allows platforms to reward users without direct monetary outlays. Advertisers fund the credit system, transferring value from advertisers to users through the platform, thereby reducing platform operational costs while maintaining user participation incentives.
Solution Approach 2:
The platform enables users to self-serve by earning credits through their own opinion-sharing activities. Users generate value for the platform and earn rewards simultaneously, reducing the need for platform subsidies and lowering operational costs while maintaining high participation.
3Loss of energy
If platforms connect mobile users to advertiser websites, then advertising revenue increases, but users receive no direct benefit
Solution Approach 1:
M2C credits act as an intermediary benefit that users receive directly for engaging with advertiser content. Instead of advertisers receiving value only, users earn credits that they can spend on platform offerings, creating a mutually beneficial system that increases both advertising revenue and user incentive.
Solution Approach 2:
The system implements immediate feedback by crediting users' accounts when they interact with advertiser websites. This real-time credit allocation provides direct user benefit from advertising engagement, reinforcing the behavior and simplifying user decision-making about participating in advertising programs.
Data Source
AI summary
A wagering method and a system operating on at least one central server enabling betting among Mi2Cents (M2C) Subscribers, the system comprising: at least one computing system; at least one data processor; a platform; a wager at the at least one central server, a first member using a first user interface device in communication with the at least one central server; a means for receiving at the at least one central server at least one response to the wager by at least one of a plurality of M2C Subscribers; a means for publishing the at least one response at the least one central server; a percentage payment using M2C Methodology; and a means for crediting an account of the first member with a percentage payment that is integrated into M2C Live Fight Promotion Events individual combat fight round purse split amounts between two combat fighters; wherein the percentage payment is based on M2C Subscriber's bet on a winner of any given fight round before and after the round has ended; wherein the computer comprises a tangible, non-transitory computer readable media comprising machine-readable executable code operable on the at least one central server.