Social Media Platforms Built on Blockchain

Social Media Platforms Built on Blockchain

Since 1973, small-scale social platforms have existed to connect people with common interests and needs over primitive internal networks and servers. Most of these programs were implemented by universities, companies, and government entities. Special digital chat rooms were created for group messaging and basic versions of instant messaging to individuals. Larger message areas were referred to as digital “bulletin boards” or “just “boards.” This is the origin of using the term “post” to describe digital messages left for the community at large who could access the bulletin board. Since the development of the internet, larger, farther-reaching platforms sprouted, usually built around specific needs or purposes. Today, Facebook alone boasts 2.7 million users, with millions using additional platforms on a monthly to daily basis.

Why Use Blockchain for Social Media?

Two major public outcries have created a need for more user control when utilizing social media platforms:

  1. Privacy – Complaints arose regarding lack of transparency and deception regarding data collection and distribution by social media platforms. Selling personal data to 3rd parties has become big business with little recourse for those who want to use the platform without giving personal information. Complaints also persist that these companies use personal data to manipulate public opinions and behavior to further their own financial and other company interests beyond simple marketing.
  2. Censorship – Rising public concern surrounds the impression of censorship perpetrated on individuals, businesses, common interest groups, political organizations, and even government officials by multiple big tech platforms. The concern includes apparent restriction or banning of select topics and opinions that “violate” community rules, which accusers claim are inconsistently enforced. Platforms have the power to restrict the ability of content producers to Livestream, monetize content, and reach their target audience. Users may also have their accounts suspended temporarily or be deleted permanently.

While there is no legal resolution yet, some users desire to flee these “Big Tech” platforms. Their concerns have left the door open for new platforms that prioritize privacy and free speech. Many of those are built on blockchain technology specializing in privacy, security, P2P interactions, and freedom.

Popular and Rising Blockchain-based Social Media Platforms  

  • Diaspora – One of the most popular; used by millions. It has much in common with standard platforms, including hashtag use, it’s free to use, users are not required to provide personal information, they sign no privacy- rights disclaimer. The platform is decentralized.
  • Sapien – Built on the Ethereum blockchain, it offers long-term stability.
  • Minds – Includes every feature of other popular platforms like Twitter, Facebook, and YouTube. Known for literally no censorship, users own their content and data, establishing Minds as the leader in free speech. As a result, the community is growing and currently has over 2 million users.
  • All.me – This platform has its own blockchain, built on a 4-layer system with its own cryptocurrency. Users can buy and sell each other’s products using the “me.Token, which allows users to transfer funds to other users easily. It closely resembles Instagram and Pinterest, with posts based largely on images.
  • Steemit – Built on the Steem Blockchain and one of the earliest. Similar to Reddit and Facebook. Content creators earn Smart Media Tokens (SMT) that they can redeem for cash.

Social media platforms are only one area being built using blockchain, which promises to be a useful and desirable technology all around. It’s easy to imagine innumerable venues, projects and systems coming together with the blockchain, linking up practical and crypto assets, currencies, and contracts from all over the globe. Let yourself reimagine how the blockchain could change everything we know about how we’re connected. Don’t go it alone. Stay grounded and informed while you dream big by contacting Aponte Crypto Consulting with your great questions and ideas.