Popular Social Networking Sites are Now Taking Notice of Blockchain Potential. Now, They Know They Have to Evolved to Fight for Users’ Attention and Avoid Being Obsolete
This is merely my observation on the past couple of weeks on blockchain technology. This article will paint a picture on my ideas on possible occurrences that have the possibility to happen in the near future.
Recently, Facebook’s Mark Zuckerberg vowed to go deeper in studying the positive and negative effects of decentralization. This could be a good new to users because they will have the chance to earn in Facebook if it is going to happen.
But why? When his company is worth $71 Billion and he is only in his early 30’s and Facebook is reigning supreme at the top.
Maybe he is now seeing the true potential of blockchain and decentralization together with the cryptocurrency that comes with it. In my own opinion if they are not going to take action their users might migrate to social networking sites the pays you when you post and curate articles.
There was also a report that Facebook is planning to rank sites and contents based on users’ likes much like the “upvote” thing in Steemit.
Speculations also arises that Facebook is going to have its own token to lure new users and to make those existing users not to abandon Facebook and transfer to website such as Steemit.
If Facebook is not going to adapt and evolve they might find their users to be slowly switching to websites that rewards its users based on votes that a content is getting from their fellow users.
One of the contender that might lure old Facebook users to switch to their site is Steemit.
On the horizon there’s an app that is in development, it is called APPICS. Articles from around the internet are saying that it will compete with Instagram. APPICS will also reward its users much like how Steemit is rewarding its users by posting and curating content.
APPICS will have its own cryptocurrency with a ticker name XAP. APPICS have just finished its ICO few week ago.
If APPICS is going to reward its users by posting content on their platform would you still do it in Instagram? Let’s admit it everyone wants to earn and APPICS will give you the opportunity to do it. Watch out Instagram your fiercest competitor is just around the corner.
Few months ago, YouTube adjusted their policy on what channel will have the ability to monetize its content. Currently a channel need to have at least 4000 watch hours and 1000 subscribers for your channel to be reviewed. YouTube will automatically review your channel if it reached that threshold. See screenshot below.
That policy does not bode well withsmall channel owners. Some YouTube users are now beginning to explore DTube.
DTube is a decentralized video hosting website much like YouTube. DTube also rewards its users just like how Steemit does to its users.
All in all, blockchain and decentralization are now being taken seriously by big tech companies. Its potential is acknowledged. Expect to hear big announcements from well known companies this year with regards to blockchain, decentralization and bitcoin.
References:
https://www.coindesk.com/facebook-blockchain-token-might-look-like/