How is Blockchain Shaping the Future of Social Networks?
We all know that social media has evolved into the epicenter of today’s Internet. Social media is the most widely used and popular activity on the internet.
The widespread use of social media has changed the way we communicate, but many people recognize that these changes aren’t always positive, such as the spread of false information on social media platforms due to the platform’s inability to moderate content effectively. We think of Facebook, YouTube, Instagram, Snapchat, and WhatsApp when we think of social media.
These are some well-known social media behemoths with millions of daily users. Not only amidst a covid pandemic, but even before that, social media has struggled with issues such as privacy, user control, governmental objectivity, and a variety of other activities that have resulted in chaos.
Traditional Social Media As We Know It
According to a report published by DataReportal in October 2021, the internet has over 4.88 billion active users. In contrast, the world’s social media users have surpassed 4.5 billion. Traditional social platforms monitor what users post and what they see, as these networks are geared toward generating revenue.
As a result, they provide users with attention-grabbing promotional content, which keeps them entertained rather than informed. Tech giants now manage the majority of social networking platforms. They effectively control the reality of a large portion of the global population due to their centralized structure, which allows them to censor content while also influencing what people see and deciding how to handle users’ data.
Also, social media platforms collect valuable information from users’ data, such as interests, preferences, and activities during user interaction with social media platforms. The data is collected by social media platforms and sold to marketers. Moreover, it is common knowledge that criminals use e-mail messages, texts, and phone calls to approach people to commit financial or identity fraud.
Identity theft, exploiting trust, and forwarding malicious links or malware containing viruses are some of the methods used. A decentralized Social Network exists to address these issues.
What Is Decentralized Social Networking, And How Does It Work?
Decentralized Social Networking (DSN) is a networking platform based on blockchain technology that enables the creation of apps and smart contracts. Instead of using a centralized server, decentralized social networks use multiple servers that run independently. The advantage of such platforms is that they enable end-to-end encryption for all interactions, giving users more privacy and control over their data.
Anyone can create their own social network and define how it functions and what users are allowed to say. Instead of having content supervised by a company, the founder of a traditional social network can define the site’s terms of acceptable behavior.
How Can Blockchain Technology Help Decentralize Social Media in the Future?
There are several ways that Blockchain and Decentralized Social Networks can improve user experience and alter the current social networking landscape.
1. A decentralized platform equals zero surveillance.
There would be no central server in a decentralized social media system. Using blockchain technology, the entire network will supervise the management of the social network. It would be easier to manage social media if it were decentralized so that actions or messages could not be traced back to a single person.
On the decentralized network, a user could create a profile with a unique code on the decentralized network rather than personal information as to their identifier.
2. The user is no longer a product.
Users’ data is successfully sold to digital marketers, and the algorithm is successfully used to influence user experience. If you’re a business, you’re paying for the data. If you’re a user, the organizations will buy your information from the marketers. In other words, if you want to gain any kind of social media following, you’ll have to pay for it.
Targeted and sponsored advertisements circulating feeds and sneaking around every corner make social media marketing a huge industry. But this can be curtailed and avoided in a decentralized social network.
3. Transparency through Smart Contracts
Few businesses profit from the lack of transparency by creating fictitious impressions or accounts. Clients then pay for these impressions with funds from their accounts, but they do not reap the benefits of a real audience, such as increased sales. With the help of smart contracts, decentralized social media could solve this problem.
4. Data privacy and security issues will be addressed
Blockchain allows users’ data to be protected through decentralized identity and other private systems. These systems may give users more power by providing tools that allow them to own and control their data. Decentralized social networks have addressed data privacy and security.
Furthermore, instead of relying on a single organization to protect user data, these networks constantly rely on public-key cryptography for account security.
Conclusion
Against today’s social networks, a decentralized social networking platform is your best bet. Finally, this results in more enjoyable content, carefully selected feeds, and targeted advertisements. This increases the social networking platform’s value, productivity, and utility.
Blockchain has the qualities of transparency, security, and efficiency that make it more appealing to users who are tired of their personal information being used for profit by corporations.
To summarize, Blockchain technology has the potential to transform the landscape of social networking into a beneficial form of global communication.
