Howdoo utilizes a cryptographic token called the µDoo as the vehicle for moving worth in between users, advertisers and operators of the Howdoo platform. As an outcome, the µDoo is the token that allows the entire Howdoo platform to work.
It is the currency for advertising on Howdoo, with marketers required to own µDoos for funding project activity, and to bid for access to particular people, audiences and neighborhoods via the Howdoo Ad Auction platform.
The µDoo is also the mechanism for fulfilling users for engaging with highlighted material, and content creators for the traffic they create. It also empowers our network sellers, offering a form of worth exchange to stimulate crypto currency activity for the merchants that will trade on Howdoo.
Individual users will have the ability to sell digital possessions (such as music and artwork) through their channels, with products for sale noted and offered for seeing by other members, and purchases distributed to the buyer via the Howdoo network. Smart contracts will make sure that the rights to the digital asset are solely transferred to the buyer upon effective execution of the µDoo deal. This procedure will eliminate the danger of counterparty danger dealt with by buyers on conventional online blockchain social media marketplaces, without the need for a controlling central party.
The Howdoo social media platform will also allow specific users to transfer µDoos in between each other, either as standalone payments, micro-payments, or as a single leg of a purchase transaction. These deals will be finished delete facebook in µDoo and users will be able to see them in a comparable fiat currency of their choice, with exchange rates displayed through combinations with a third-party foreign exchange service.
As a result, payment amounts will exist in local fiat currency to payers, payees, purchasers and what is social media sellers, suggesting the intricacies of payment and acquiring with a crypto token are eliminated. This essential function decreases the difficulty of psychologically calculating currency exchange rate, which in turn will enable people to determine the worth of specific purchases more quickly.
Both banked and unbanked users will be catered for, as individuals will have the ability to send out µDoos all over the world, independent of conventional banking centers, as easily as they send messages and media. Allowing µDoos to be moved within a social media network environment will also enable resource-pooling in between relative and communities around the world.