In the latest episode of Unbounded, we introduce you to MyFabula, a social network built on BSV blockchain that puts users at the centre of the platform by letting them shape the narrative about themselves.
Far from the attention-grabbing of other social media, MyFabula lets you be yourself. We sat down with co-founder Michael Choi to learn more about the platform.
Focus on individuality and authenticity
MyFabula is a unique social platform that aims to provide a space for people to share their stories, in their own words, pictures, and texts. Unlike other social media platforms, MyFabula is designed to be a place where users can tell their stories without the pressure of likes, comments, or followers. It’s a platform that values authenticity and individuality, giving users the freedom to express themselves in their way.
MyFabula’s chamber system is a unique feature of the platform, allowing users to share different aspects of their lives safely and securely. The ecosystem consists of five chambers, each serving a distinct purpose.
- The first chamber is called the editorial. It is similar to the timeline of other social media platforms and allows users to display what they want others to see. However, MyFabula encourages users to showcase a part of themselves that others may not typically see. This allows users to share their unique interests and talents with others.
- The second chamber is called the vault, which is a secret place where users can store information that they do not want anyone to see. This can include passwords, wills, and most importantly, secrets they have kept to themselves. MyFabula allows users to securely lock these secrets in the blockchain and set a time for release, even after they have passed away. This is a powerful tool for individuals seeking closure or wanting to share their stories on their terms.
- The third chamber is the memorial hall, where users can leave information for others to remember by. MyFabula believes that everyone has a story to tell and wants users to have the opportunity to tell their own stories in their own words. This chamber allows users to create a lasting memory of themselves that they can share with others.
- MyFabula’s fourth chamber is the month, which is a space for users to share memories and experiences with others. Users can create a personalised calendar, highlighting important events and moments in their lives.
- The fifth chamber is the marketplace, where users can buy and sell goods and services within the platform. This chamber aims to create a safe and secure marketplace where users can conduct transactions without the risk of fraud or scams.
Handling sensitive data securely via BSV
MyFabula utilises two storage systems – a centralised storage system and a blockchain-based decentralised storage system. The centralised system is efficient and allows for quick downloads, making it ideal for information that users want others to see in the auditorium or memorial hall.
However, this centralised system is also vulnerable to attacks, making it unsuitable for storing sensitive information.
To address this vulnerability, MyFabula employs a blockchain-based decentralised storage system for critical and sensitive data. By using BSV blockchain, MyFabula ensures that this data is secure and cannot be compromised.
The BSV blockchain blockchain can handle a vast amount of data, making it an ideal choice for MyFabula’s needs. Additionally, the cost of transactions on BSV blockchain is manageable, making it a cost-effective solution for MyFabula.
In terms of scalability, BSV blockchain can handle a large amount of data and transactions, making it suitable for MyFabula’s needs as a social platform. BSV blockchain’s large block size and more efficient data storage capabilities enable it to process a higher volume of transactions, ensuring that MyFabula can handle the data requirements of its users.
eBook: The fallacy of private, permissioned blockchains
MyFabula has chosen BSV blockchain as its infrastructure. It is a cost-effective yet scalable solution for the startup that has many other advantages over private, permissioned blockchains.
To learn more about this topic, we recommend you read the eBook “The fallacy of private, permissioned blockchains”. It addresses the complex issue of the internet’s walled gardens and proposes a solution through a true and scalable blockchain.
The eBook also discusses the reality of permissioned blockchains for enterprises and government, and how public blockchains like BSV can provide greater security and transparency.
Get your eBook here.