1. References

Social Mining: The process of transforming the sum of your activities online into income via these actions. The term has been coined in the blockchain sphere to reflect users earning digital tokens for growing a specific platform through various actions that include: sharing registration links, social identity verification of other users, sharing services provided within the platform with other users, and ranking other users in the platform. The term “mining” in the blockchain sphere first appeared in the context of a means to reward people who contribute their computing power to advance a blockchain, e.g. building additional blocks, with the digital currency. ^[1] The overarching theme for “social mining” is to reward people with digital currencies for their social actions, allowing them to be rewarded for interacting with social networks, people and platforms that they are already active on.

One of the first companies to utilize social mining in their is bitJob, a blockchain-based student-freelancer marketplace that connects between students-freelancers and employers. The company is trying to solve students’ lack of work experience upon graduation and income inequality by providing more flexible employment opportunities and leveraging social mining.^[2] CEO Dror Medalion describes social mining on their platform “Mining [for cryptocurrency] is basically creating new coins...with bitJob, if a student chooses a job he likes, and [then] he doesn’t want to do that or it doesn’t want to do that or it doesn’t fit his skill set, he can basically, through word-of-mouth referral, offer that job to a friend…[for example,] maybe he’s not a graphic designer, but maybe his friend is. If the friend chooses to accept that job, the student will get paid for that referral. That is why we like to call it social mining, because he takes a social activity in order to mine this new revenue.” ^[3] HR technologist simplifies bitJob’s definition of social mining as: “this platform allows students to work in their free time and gain real field experience, while also allowing them to make additional income from referring their friends or members of their networks to relevant jobs.” ^[4]

Another company that uses social mining with a different model is Social Coin, based out of Barcelona. The company is trying to reward “highly measurable online behaviors” that benefit the community and larger society, such as “sharing useful tips for education to sharing civic safety information to defending civil rights online.” Social Coin utilizes social mining to reward individuals who promote these social actions like this with their own digital currency, the social coin.^[5] The company started out as an experiment and according to CEO Ivan Caballero “each coin represents an act of kindness; when you help someone, you also give them a coin. That person, in turn, has to do something nice for someone else and pass on the coin. The idea took off and quickly became a social movement.” The Social Coin has also since expanded to other ventures, mainly Citibeats, a platform using artificial intelligence and proprietary algorithms to help governments to better understand and respond to their citizens’ concerns. ^[6]

References

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