Blockchain News – Blockchain May Win the Next Social Media Race

Nishanth Shetty

October 20, 2017 1:30 pm

Blockchain May Win the Next Social Media Race | Coindelite
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Blockchain News – The Social Media has become very popular nowadays and it is been exploding with the popularity as of now. It also includes so many activities within what we actually do in our daily interactions. People all over the world using these networks nowadays to share information, to communicate, to operate, etc and day by day the number of users is increasing. Many of the Social Media are also including bad information, trolls, fake news to spread bad awareness between people and the network.

As of now, the important purpose of the social media team is to attract a number of users towards them.The value of the social media gets increased as the number of users gets increased. Anyhow, attracting the people towards Social Media is not such a big deal but creating a good community and maintaining good contents and usage will be highly appreciated because the Social Media should be used for the good purpose but not for the wrong one.

New Social Media Platforms are spoiled

Right now none of the Social Media Platform is concentrating towards checking the high-quality contents. Since the number of users is increasing they really cannot concentrate on any of the particular contents. Any user can easily share any contents. But, it can be shared among all the users. Some contents may include useful facts or information but some of them can contain the wrong message.

One of the most common issues takes place on Social Media is none other than posting the fake news, trolling, posting adult contents, harassing someone’s reputation, creating fake accounts and posting fake reviews. These issues keep moving forward. It is not going to be stopped anywhere until the Social Media Providers takes a valid action on it.

Social Media Company have to be worried

Social Media has to be alert because users are not using it for good purpose instead, they are misusing that platform. So the Social Media Company should be aware of this and they should look after these issues. Not everyone uses the Social Media for good purpose.

The Social Media Companies are immediately required to realize that we use an era where the demand for the network is not just to discuss the number of active users, but it should also include the qualified and trustworthy content.

The Data Scientist Prof. Jeff Salz said:

“Data quality is a subset of the larger challenge of ensuring that the results of the analysis are accurate or described in an accurate way”.

Twitter has already introduced new privacy feature on its platform where the users can easily fight towards the spam and abuse. Anyhow, it is very important to make sure whether the Social Media is being used in a proper manner or not.

Social Media is an open and distributed platform where the users can share their thoughts, express themselves for free. You are not required to pay for anything on the Social Media Platform. Even though if you post any good content or quality content, you won’t get paid even if you share any bad content or abuse something, you are not required to pay any fine. People are using this as the advantage and misusing the Social Media.

Blockchain could be the solution:

The blockchain is the natural solution to the problems which are faced by Social Networks as of now because it provides the trusted and decentralized framework. There is no such requirement to add any external regulation due to its self-regulatory inheritance feature. It is the peer to peer distributed network where all records are saved systematically.

The Blockchain is essentially distributed database where all records are Cryptographically linked to each other. It is impossible to change any existing record without changing all subsequent records. Each and every record will be digitally saved and monitored.

Another question that occurs to our mind is, what exactly on Social Network should be Cryptographically protected.The answer is user-generated contents, it includes unlimited posts, comments, reviews, photos, and the videos. However, the most important thing is social reputation. Social media is a platform where social networks are actually falling down.

By using Peer Review, Social Cryptocurrency and saving the events on the Blockchain, we can easily ensure the quality of the Social Media Content.

LinkedIn is an example for Peer review because it is the effective tool for self-regulated activities which take place on the Social Media. In LinkedIn people have to maintain their professionalism since it is the platform where business queries and professional people have been added. Peer review can also be used to rate a particular person’s profile as well. If the person is posting any wrong kind of information or he is active on wrong activities, there will be an automated option which can be used to block those users easily.

Gaurang Torvekar, CTO, and Co-founder of Indorse. Described that, pairing the Etherun Blockchain with other latest technologies like payment platforms and IPFS would definitely lead the upcoming Social Media Revolution. He also said:

“Combining the Etherum Blockchain with payment channels opens up a gamut of features and autonomous abilities, aligned with the financial incentives. Smart contracts paired with payment channels provide the computation and logic layer upon which the core engine of such a platform can be built.”

Here is the future:

Blockchain-based Technology is getting a huge level of popularity from these months. The number of successful ICOs are also increasing day to day. So the Blockchain will be definitely used by the huge number of customers.

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