Mumbai: A social media network, ChatWise is to be jointly launched in the UK and India on 17 April. It will introduce a paradigm shift in social media by offering users an unprecedented level of ownership and influence over the company. Developed in the tech hub of Cambridge, UK by British Indian promoters, ChatWise offers unique features that have consistently been requested by public personalities, parents and politicians and are not yet available on any social network.
Many analysts believe that the ability to post anonymously is the main cause for the horrific abuse and disinformation seen online. ChatWise is designed to prioritize user safety by implementing strict measures to combat bots, misinformation, and malicious activity. All users join as ‘private’ accounts and only by submitting identification, can they post publicly. This will enhance online safety, disincentivize malicious behaviour, and eliminate the presence of bots commonly found on other social media platforms like Facebook, Instagram, and others.
“As a society, we are not ready for the AI and deep-fake with people posting anything hidden behind fake accounts. ChatWise is taking the world to a slightly different direction. With advancements in technology, it takes less than 1 minute to verify a user, then why not do it to protect our democracy and society? ChatWise will be a people-owned company and will do what is best for our children. We will only be satisfied when we can comfortably see our own children using ChatWise, that’s the bar we have set” said ChatWise co-founder Gagan Gulati.
The platform also provides ownership which is one of the key features. The first 10 lakh users will all receive shares in the company by undertaking basic tasks, allowing them to build wealth as the company's market cap grows. In a future IPO, these early users will already have received free pre-allotted company shares. This ensures that users are directly invested in the success of the company.
“Facebook users in India create an immense amount of wealth by scrolling through social media pages. But that wealth is siphoned off to company shareholders in the US. Facebook/Meta shares are now collectively worth over Rs 100 lakh crores (nearly five times the value of Reliance industries), but this wealth stays in the US, even though Indian users create much of it with India being Facebook’s biggest and fastest growing market. Chatwise aims to turn that tide by giving company shares back to people.” said Gagan Gulati, who is a chartered accountant.
To experience, download android app from Google Playstore or visit, see: https://www.chatwise.co.uk/ and use referral code “intern”.
