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6 Trends Showing How Blockchain is Changing Social Media

15 November 2019 17:30, UTC
6 Trends Showing How Blockchain is Changing Social Media
By Hartley Ewing

Whether you're an online social media marketer or a social media business owner, it's vital that you understand that social media is currently undergoing a dramatic shift.

Currently, blockchain technology is disrupting different industries, and social media is likely to experience the ramifications of this disruption. Businesses that use social media to set up their brands, including Twitter and Facebook, will soon realize that all the investment may have been for nothing. As blockchain technology improves, there will be an obvious revolution in the networks used by consumers and businesses along with the means of networking. If you want to prepare your business for future blockchain-enabled social network marketing, some trends need to be closely monitored.

Trend #1: An Increased Interest in Verified Online Identities

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With an increase in 'bot issues' within the social media platform sector, such as Twitter and Facebook, businesses are now looking for consumer service sites where they can maximize their investment return on investment or ROI. The ability to engage with consumers who have checked their identity using blockchain technology and smart contracts is appealing for business owners who don't want to advertise in social media's' black hole;' therefore susceptible to fake pay per click and PPC ad impressions.

Trend #2: Verification of Marketplaces

Similar to identity verification and its impact on social platforms allowed by blockchain, marketplace verification is also a subject of the trend. Virtual marketplaces are areas for growing specific business needs and interacting with like-minded businesses or vendors. When blockchain technology becomes more popular and mainstream, validation of the marketplace can increase the growth potential of a product. Advertising ability to check suppliers or organizations would make advertising easier, because they know what you're selling; thereby increasing all marketing efforts thus enhancing ROI time.

Trend #3: Enticing Combination of Cryptocurrencies and Blockchain Technology

Cryptocurrency and blockchain technology are an exciting combination of them, as April Gilmore from ClickFirst suggests, when on social networking platforms. When a decentralized platform becomes mainstream, users of social media have the option of network platforms. The opportunity for online activities to gain small amounts of cryptocurrency can draw users to sites where contributions to project development are rewarded. For example, if you consider how much time you spend on current social media platforms; imagine if you earn a small amount of bitcoin from each post you make. This type of coded network of social media is fascinating.

Trend #4: Cryptocurrency and Blockchain Collectibles Influence the Future of Social Media

The fourth theme is the convergence of collectibles from cryptocurrencies and blockchain software and how it impacts the use of social media. Cryptocurrency collectible industry is becoming increasingly interested, with early influence, including CryptoKitties raising millions of dollars to finance investors. Although some individuals may view the initial investment only as mobile games, it is true that the collectible cryptocurrency companies are planning to implement games on platforms such as Android or iOS. If sub-markets are built up on top of the crypto-collectible game, this determines the appeal of this technology.

Trend #5: Blockchain Technology Influences the Presence of Fake Content

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Blockchain technology can influence the use of false content with its intelligent contracts. It's easy for comments to get flooded by fake spam content on today's social media sites. Using blockchain technology, future social networks will distribute content according to verified information and the distribution of traceable data. It is very exciting for brand builders and advertisers to block fake content with contributors.

Trend #6: Blockchain Technology Helps to Track Journalist Bias

Depending on the author and the views and values of the publication in which it was published, each piece of news can be told from a variety of completely different points of view. Content readers must then choose whether they are going to settle with a narrow view of the story or whether they are going to take longer to do further research into other trusted publications.

06.09.2019  |   in Blockchain
Projects like Redpen are now using blockchain technology to enable users to track journalists’ bias by analyzing their ‘digital pen.' You can then see if they hold a particular set of views or biases by reviewing all of their past content. You can take this into account when reading their content.

To Wrap Up

There are already blockchain-powered social networks and popularity is growing. They may not yet be ready to scale up to the masses, but we could certainly see this change in the future. While social giants such as Instagram and Facebook do not appear to be in immediate danger, blockchain offers a solution to many of the problems the industry faces. Coming together social networks and blockchain have the opportunity to combine a better and more trustworthy experience for users and publishers.

About the Author:

Hartley Ewing is a passionate young blogger who loves to write about seo techniques, digital marketing, social media and more. She is currently working with Galaxy Marketing, one of the leading providers of real Instagram followers, YouTube views, likes, followers and comments.



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