ByteNews Media AMA

we hosted an amazing AMA with ByteNews Media on the 19th of November

And here we will put some of the best questions:

Q1. Can you please introduce yourself to our community ?

Hello guys, I am Denver Scott, popularly known as scotty. I have a project called bytnews media and today I am here to pitch my porject infront of you guys.

Q2. Can you briefly tell us about ByteNews Media project ?

So the project revolves around free journalism and media. As we all knw both in democracy and Authoritic forms of government the media is suppresed and only the news related to good will of the authorities are shown. We want to create a platform which is unbiased and free from any fear and control.

Q3. What are the advantages of Your project ?

So at bytenews we are giving jounrlist and publishers wether they come from video journalism or print media a lot of freedom to write about their views.

Jounalist are getting freedom to express themselves without have to run to publishers to publish

viewers and readers are getting freedom to access the network without any censirship

the platform is not collecting any fees neither from publisher nor reader/viewer

the token for bytenews media is called mbyte

it is a DAO token

holders will be rewarded to hold the tokens in BUSD reflection for 8% as well they get rights to vote for the articles/video published on the platform

Q4 please tell us about the goal you want to achieve in this year

End of the year is very near now. though we have pretty exciting things that we will close this year itself. The launch of the token was one of these things.

We will release the platform for the both publishers and readers by EOY

to start with till the time the platform is in beta we will use BSC testnet to verify all the cases that we have built

including posting articles/videos and voting on those.

so in short testnet version(beta) platfrom will be live to use by EOY

Q5 Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?

So I am the CEO of this DAO, also the developer of the smart contract. I have 10-15 people who are running the partnerships in the background.

The story begins a long time back, as I am a veteran jounrlist myself

I faced a lot of censorship and rejection from the editors when I wrote few artciles which were of bitter taste

when I got exposed to blockchain I felt that we can use this in free media disruption.

Hence we started this project to reach out to the world, the marketing team is continously brining more independent journalist from around the world.

And here we will put best questions from our members and ByteNews Media fans:

Q1 Can you describe the“governance model” of the ByteNews Media ? Who is responsible for managing the system, what is required to qualify for authorization? On what types of decisions can they make about the project?

Ok a nice question

so the governance model is pretty straightforward. Publisher needs to hold 100 USD worth mbyte while he/she is posting any content.

the viewers/readers are suppose to hold 50 USD worth mbyte to upvote or downvote the content.

The content needs 51% approval rating in whatever time frame is set by the publisher to get the content published.

Q2 I saw on your website that Holders will be rewarded with 8% reflection every 60 minutes in BUSD. But,Many projects give their native tokens or some exchange tokens like BNB as a gift.Why did ByteNews decide to give away BUSD as a gift & What was your motivation for choosing BUSD?

yes great questions

So the main reson behind dropping BUSD to start with was to give value to the people who believe in the project in the begining.

as the baby token of the project won’t have much utility and value when the project is released

Also the team didn’t wanted to give native tokens as we wanted the makrets to be stable and didn’t wanted a sell pressure as soon the rewards are dropped

Later on we have a plan to launch a baby token for the project and burn equivalent mbyte.

Q3 What is the most ambitious goal of your Byte News project?What is the ultimate vision that your Byte News project is trying to achieve in the cryptocurrency market? Explain to us about that. I would appreciate it if you could share any upcoming updates with us?

Yes so as the main pitch of the project is to decentralise the media

so main focus and goal is that

all the upcoming updates will be given on the website

and also the medium and discord

Q4 There are thousands of places in the world where vital global information never gets through due to various limitations. ByteNews is working on something to expand its model to the farthest corners of the world? How will you make your project have a worldwide impact?

so the main reason to opt for blockchain tech was to reach anywhere in the world without any censorship

blockchain can’t be banned or stopped by any means

hence we are using this tech to reach the last mile users.

Q5 The information age cannot become the age of disinformation. How does ByteNews take control of real sources and experts and make the selection more convenient for both investors and the metaverse? How do you differ from Google News Lab?

so as we said very clearly we dont want to control anything. Because when any platform starts doing that somewhere it becomes biased to some opinions

the platform will be run by the community

the DAO will decide what will go live on the platform and what not

even if some published content is getting a downvote we will set a threshold to take it down.

Q6 Did you consider community feedback/requests during the creation of your product in order to expand on fresh ideas for your project? Many projects fail because the target audience and clients are not understood. So I’d like to know who your ideal consumer is for your product?

Amazing question, I am very well connected in the media industry print as well as video. On every step of creating any features we had a long questionnaire for the community. By community here I mean people from media industry. From which we use to get an idea what are the core problems of the sector and we tried to patch them up.

Q7 Many projects have been started, but they may not last long. Can you tell me if you plan to stay active and bring projects and opportunities to the community for the long term?

First of all we are offering 2 very strong features to hold the project, 1 is the 8% Busd reflections and the second one is DAO feature where the holder is getting the ability to vote on the published content.

Q8 Do you have an audit certificate or are you auditing your project, so that project security becomes more secure and reliable?

The project is auditted and also Doxxed you can check both the certificates in the bytenews media TG channel.

Q9 Partnership and cooperation are the backbone in making the project wiser and more successful. So, do you intend to work together on Barrow projects on a large scale in the near future?

we are already in talks with 100s of independent publishers. Be connected over th TG channels to get updates as soon we start signing MoUs from the big publishers.

Q10 I think your project is great, how is the way to buy your token? ie pre-sale and general sale? I think your project is great, how is the way to buy your token? ie pre-sale and general sale?

Thank you sir for your kinds words, you should join bytenews media TG. There you will find the pinksales pre sales link. Also we will soon get live over pancakeswap.

And this was the end of our AMA with ByteNews Media.

If you have any other questions you can ask here:

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