LinkedIn co-founder Eric Ly has spoken out against the recent bans on cryptocurrency advertising by social media giants, calling them a “temporary” measure. Ly is also working on a new project called Hub, which he describes as a “meta social network” that will enable a reputation system across many different social networks and marketplaces.
In an interview with Cointelegraph Eric Ly said that he believes the crypto ad bans are due to the conservative approach that social media platforms are taking in order to avoid scrutiny from regulators such as the Securities and Exchange Commission (SEC). However, he is hopeful that once the regulations surrounding cryptocurrencies become more clear, these bans will be reversed.
Ly’s comments come at a time when the SEC is stepping up its enforcement efforts against cryptocurrency companies and exchanges. In recent months, the SEC has filed charges against several ICOs and individuals for alleged fraud and securities violations.
The SEC’s actions have led to a number of social media platforms banning cryptocurrency advertising. In January 2018, Facebook banned all cryptocurrency and ICO ads. Google and Twitter followed suit in March and April of the same year.
The bans have been met with criticism from the cryptocurrency community, who argue that they are stifling innovation and limiting the ability of legitimate projects to reach a wider audience.
Ly is one of the most prominent voices in the cryptocurrency community to speak out against the bans. He argues that the bans are based on a “misunderstanding” of cryptocurrencies and that they are harming legitimate businesses.
Ly is also working on a new project called Hub, which he describes as a “meta social network.” Hub will enable a reputation system that can be used across many different social networks and marketplaces. This will allow users to trust that the people and businesses they are interacting with are legitimate.
Ly says that Hub is still in the early stages of development, but he is hopeful that it will be able to launch in early 2024. He believes that Hub has the potential to revolutionize the way that people interact online.
What is Hub
Hub is a new social network that is being developed by Eric Ly, co-founder of LinkedIn. Hub is described as a “meta social network” because it is designed to work across many different social networks and marketplaces.
Hub will enable a reputation system that can be used to verify the identity and trustworthiness of people and businesses. This will allow users to trust that the people and businesses they are interacting with are legitimate.
Hub is still in the early stages of development, but Ly is hopeful that it will be able to launch in early 2024. He believes that Hub has the potential to revolutionize the way that people interact online.
How will Hub work
Hub will work by creating a reputation profile for each user. This profile will be based on the user’s activity on other social networks and marketplaces.
For example, if a user has a positive reputation on LinkedIn, this will be reflected in their Hub profile. Similarly, if a user has a negative reputation on eBay, this will also be reflected in their Hub profile.
Users will be able to use their Hub profile to verify their identity and trustworthiness to other users. This will be especially useful for businesses, which will be able to use Hub to verify the identity and trustworthiness of their customers and partners.
Why is Hub important?
Hub is important because it has the potential to make the internet a more trustworthy place. By enabling a reputation system that can be used across many different social networks and marketplaces, Hub can help users to identify and avoid scams and fraud.
Hub is also important because it has the potential to level the playing field for small businesses. By verifying the identity and trustworthiness of businesses, Hub can help small businesses to compete with larger businesses on a more level playing field.
What are the benefits of using Hub?
There are a number of benefits of using Hub. First, Hub can help users to verify the identity and trustworthiness of people and businesses. This is especially useful for online transactions, where it can be difficult to know who you are dealing with.
Second, Hub can help users to identify and avoid scams and fraud. By using Hub’s reputation system, users can see the reputation of people and businesses before they interact with them. This can help users to avoid scams and fraud.
Third, Hub can help small businesses to compete with larger businesses on a more level playing field. By verifying the identity and trustworthiness of businesses, Hub can help small businesses to gain the trust of potential customers and partners.
Eric Ly’s new project, Hub, has the potential to be a game-changer for the internet. By enabling a reputation system that can be used across many different social networks and marketplaces, Hub can help to make the internet a more trustworthy and equitable place.
