Blockchain And Social Media: A Working Relationship
One may wonder how blockchain and social media can integrate. It is our belief here at Nasgo that we will soon see social media systems using blockchain technology. This can help solve many of the problems that social media sites such as Facebook, Twitter, Linkedin and others are having.
In this post, we will share some of the ways blockchain and social media can work and play together.
Blockchain And Social Media: No More Fake News
Personally, I have never understood the reasoning, but it happens often. Posts on Facebook that state that some famous person died or some other terrible tragedy happened and the post goes wild with comments and shares. But several hours later, it comes out that everything stated in that post was a lie.
By using a blockchain system, news can be verified for truth before it “hits” the news feed. The social network will gain more trust for the news broadcast over that site and users will feel more comfortable believing news posts.
Blockchain And Social Media: Rewarding Participation
Have you ever wondered how social media platforms make money? Essentially, it all comes down to participation. When you create a post that is shared a lot, it helps the platfom gain more attention and therefore, make more money.
So if a social media platform were on blockchain and tokenized, they could easily reward platform users for the attention they bring. Rewarding tokens for such things as:
A post with over 10,000 shares.
- A user who has “liked” 5,000 pieces of content.
- Signing in to the site 30 straight days.
Rewards will attract more usage and the domino effect comes into play. The social platform makes money!
Blockchain And Social Media: Identification Verification
Have you ever wondered if that person who just befriended you on Facebook is truly who they say they are?
The issue of people copying other profiles and befriending friends of the copied individual has been an ongoing issue. Blockchain technology can hamper this scam.
Blockchain would catch copied profiles immediately. It can also ensure that new accounts are truly people and not a robot from China.
Sure, we want more friends, but not friends whose real name is R2D2. (Star Wars humor)
Blockchain And Social Media: Better Ad Targeting
Many small businesses have discovered that advertising on social media is a great way to get attention to their brand. But the common issue many have had is showing ads to people who will never consider purchasing the product. Like showing adult diapers to people in the 18-30 age range.
Blockchain can help small businesses show their ads to the people who really matter. The demographics will be more accurate and the response will reflect a greater marketing system.
Blockchain And Social Media: Intellectual Property Rights
Even though you share a fantastic image on Instagram, other people do have the right to share your post, but they do not have the right to copy your image and use it elsewhere as if it were their image.
Using a decentralized ledger, blockchain can ensure what is yours stays yours. The ledger keeps track of the intellectual property rights and ownership allowing content to be distributed in a fair way without a centralized third-party platform.
Blockchain And Social Media: Purchasing With Cryptocurrency
By integrating blockchain with social media, the platform will be able to accept cryptocurrency as a payment method for advertising, app payments, and more.
We have found that many people have been using social sites to sell used items such as cars, furniture and more. It could even be set up to where the social site could accept crypto payments for purchases from users and act as a mediator using a blockchain system.
Overall, a marriage between blockchain and social media can be a huge benefit to all.
If this touches you and you have an idea for developing a blockchain social platform, Nasgo can help by being the blockchain you build a social media sidechain off of.
Just visit Nasgo.com and create an account.
Feel free to search Nasgo at Facebook, Twitter and Youtube where we can help you get your sidechain working.
If you need added help, feel free to comment here with your contact and one of the Nasgo team will get back with you soon.
Blockchain will help social media and you can be at the steering wheel.
Stay Free With Nasgo!