“Blockchain Revolution” in social networks


Social networks in our everyday life have become a principal mechanism for communication between individuals and collectives. They play a crucial role in politics, education, sports and even in personal relationships. And the fact that these days the system is controlled by a narrow circle of people is suspicious and alarming. And after the Facebook scandal, people’s confidence in social networks dropped sharply indeed. Blockchain technologies can change the current situation.

In finance and other spheres of life, where security and reliability are the basis, the blockchain has already made a real revolution. Currently, a growing number of specialists and users began thinking about the integration of this system inside social networks. Some have already made a step towards technical progress. We already know such social networking platforms, which are built on the principles of blockchain, they are Steemit, Akasha, Synereo, Matchpool, ZONTO and some others.

The blockchain technology offers a number of advantages to social networks:

Firstly. This technology, by creating confidence rating systems, can solve the problem of fake news, which may later be embedded in any website.

Secondly. Blockchain contributes an opportunity to benefit by transferring personal information about yourself to third parties, by participating in special programs where the user will automatically obtain a reward when his data is sold.

Thirdly. The creation of a smart contract contributes to the automation of the user’s actions, by communicating on his behalf simultaneously with several platforms.

Abhishek Bhandari, co-founder and vice president of Bloomatch, believes that blockchain technology can give the user such level of security and satisfaction that everyone expects. He says the currently existing social networking platforms are quite vulnerable. Quote: “The revolution associated with the implementation of the blockchain contributes an opportunity to store data in a decentralized and safe manner”.

Dor Konforty, CEO of Synereo, points out that all marketing, content selection and functionality of Facebook and other social networks are aimed for “interest trading” and information about users’ behavior. At the same time, the user who shares information does not receive any reward. And with the help of the blockchain, the generated value of the provided material will be directly received by the user, and new platforms will begin to profit from selling additional services and will no longer to cash in on consumers.

Social networks based on the blockchain are already entering the masses, and we can say with certainty that social evolution will inevitably open new progressive content creators. Like television was replaced by YouTube, so will the YouTube once give way to an innovative, decentralized and independent solution.
At the moment, the public is following projects like Matchpool, Akasha and ZONTO. Will they get mass distribution and community approval? Time will tell… We can only wish them luck!

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