How social media can benefit from blockchain technology..
Blockchain has gained increasing popularity over the past year. Having begun as the technology behind cryptocurrency exchanges, it has now shown promise in almost every other sector of the economy as it’s a secure, reliable and tamper-proof way of recording transactions and exchanging data.
So, what promise does this technology hold for social media?
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Blockchain helps with verification of information and news
Facebook has been very busy in recent months, digging into and deleting false accounts that have posted fake news for several years now. Blockchain distributed ledger system can work to prevent all of this in the first place.
Verifying identities, verifying information and data that has been posted, etc. are all things that blockchain holds the promise to do. For instance, the 0xcert protocol provides a framework for developers to build powerful decentralized apps (dapps), enabling everyone to easily authenticate and manage their digital or real-world assets (such as original content, ID, university degree, in-game item or a house) on the blockchain. This can also help with gathering and verifying all types of data, including news and other information shared online.
The momentum is growing, and there will be pressure on social media platforms to incorporate this technology, either through third-party providers or by developing their own blockchain environment for verification.
Blockchain can create better user control mechanisms
Social media platforms collect a huge amount of data. Every time an account holder posts; every time an account holder likes or shares a post of another; every time an account holder opens an ad on the platform; and even every time an account holder searches the web and accesses other websites, the data makes its way to their profile or homepage. This is why we see so many ads in our newsfeed on Facebook.
Guest Authored By Andrew Arnold. Andrew is a writer and lifestyle entrepreneur. After working in the corporate world for over 5 years, he resigned and took to consulting entrepreneurs and companies, including Fortune 500 companies like LinkedIn and Cisco. Andrew has particular interest in how people and businesses have deployed/consumed traditional media such as TV, radio, print, yellow pages and outdoor ads for decades and how new media such as social media, blogs, podcasts, computer games, blockchain and virtual reality are taking money and attention away from those. He's out to discover and write about how millennials use and influence the growth of emerging media. Follow Andrew on Twitter.
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"The point of all this is that we operate in a noisy media landscape, so brands have to create content uniquely tuned to thrive on the internet to make an impact.
This means making something original and memorable enough to harness a worldwide, internet-connected community and tailor that content for specific platforms.
This is the path to success in social media..
Post Crafted By:Fred Hansen Br@nd Alchemist at YourWorldBrand.com & CEO of Millennium 7 Publishing Co. in Loveland, Colorado. I work deep in the trenches of social media strategy, community management and trends. My interests include; online business educator, social media marketing, new marketing technology, skiing, hunting, fishing and The Rolling Stones..-Not necessarily in that order ;)
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