Blockchain to revive social media? Yes, Steem!
Dear All,
To begin with, while business on the internet is fairly new, social media is even newer. The business is around giving a "free" app to users in order to have them agree to terms and conditions that allow the application to collect data. The data is then monetized.
Blockchain technology is all about removing the middle man and making things more efficient, thereby giving new economic opportunities to end-users/participants. A bank in their hands if we are talking about BTC and wallets, insurance contracts with a solvent network of peer as counter parties, etc...
With that said, i wanted to share this article from the blockchain council that talks about the topic I will make a point to reach out to them and send them the link to the white paper and blue paper so they can explain deeper what Steem is about. Perhaps we can come together and do a #promo-steem effort with this organization.
"According to Metcalfe’s Law of Networks, the value of a network is proportional to the square of the number of users on the network. Social media giants like Facebook and Instagram know that the main value of their network depends on user-generated content. "
Please let me know what you all think about this and if it can be applied or extrapolated for Steem and the overall ecosystem.
Article written by TOSHENDRA KUMAR SHARMA.
https://www.blockchain-council.org/blockchain/how-will-blockchain-revive-social-media/?lipi=urn%3Ali%3Apage%3Ad_flagship3_company%3B19b6fIOFTymeVbAQqc6E9A%3D%3D&licu=urn%3Ali%3Acontrol%3Ad_flagship3_company-object
Photo credit - Blockchain Council.
I look forward to hearing your thoughts!
Best,
Lio
as of now have seen as steemit informal organization is progressive, and the potential that it has through digital money framework and blockchain to be superior to anything facebook, twitter, and others. Truth be told, the steemit ventured out the development to produce content inside the Internet through installments just by making content.
Since steemit ended up open source, new informal organizations with a similar framework will exist, and some with particular purposes. This is the situation of ORACLE.
As should be obvious in the title of this post, the fundamental thought of the Oracle stage is to reestablish confidence in mankind. So how in actuality will function:
Essentially the substance required for the stage is where you are performing demonstrations of graciousness to other people, or dealing with nature, and things like that.
What's more, the post, and steemit, individuals, would you be able to give upvote or downvote.
The distinction from Oracle to Steemit is that Oracle has the mission to urge individuals to perform demonstrations of benevolence, the inquiry is whether this demonstration performed trying to profit is valid or basically insignificant acts.
This piece is quite timely with all that is occurring with social media, most recently FB (knowing and unknowingly). Users are learning, albeit slower then I hoped, that they are the value creators and they should be appropriately rewarded. Thanks @liotap for the post.
As you probably have seen, the uproar is growing, more so with how long it took Mark Z to do an interview. Waiting for the next shoe to drop with Google/youtube.
It will be interesting to see to what extent the attrition of FB users will be this month given such. Also, what blow back their will be on other social media platforms.
Bloomberg.com news recently had a great article on how this is the worse month for FB since 2012.
right, the FB saga continues... no end in sight with the executive team being on the spot in multiple jurisdiction.
In my opinion things change. What is popular today may not be popular tomorrow. There are new trends starting daily, many just buzz out but the blockchain trend is one that is really starting to gain momentum and we are now starting to see a very interesting twist with the arrival of social media blockchain sites such as Steemit and applications. Blockchain social sites are great idea, because it actually is the users who own the sites. There is no better way to get members or followers than to have them invested in the site they are actually using such as Steemit. I definitely hope for blockchain social platforms will replace Facewhat or Twitter. I embrace any move away from the Facewhat and Twitter world, I consider Facewhat and Twitter just a bad habit. We shall see in the next few years. Believe it or not I just read about Metcalfe-based analysis indicating that bitcoin could possibly drop as low as $2,000.00. I don’t belive it’s even possible for bitcoin to go to zero as some say. I and milion others would be buying like crazy just from the psychological standpoints. However, if Metcalfe-based analysis are right and BTC drops as low as $2,000.00 I’m buyer like it’s at zero. Also, Metcalfe-based analysis which indicates Steem and ethereum is in a strong buying zone, however it also says that its price short term can be affected by bitcoin failing lower, which had recently happened in December crash, because it was primarily due to bitcoin.
let’s see what happens though.
I believe the principal reason blockchain based social networks will eventually take down all current mainstream social networks is that with blockchain powered social networks, the rewards are put in the hands of the user.
Take facebook for example, millions if not billions of interactions a day and all the profits goes to Mark SUCKerberg and his board and the users get nothing when the users are the ones generating the content, its outright stealing! and on top of that not only do they take all the profits but they are so fucking greedy and fucking corrupt that they go ahead and sell you to the best buyer! they sell every little piece of data they have on you.
This post has been upvoted and picked by Daily Picked #10! Thank you for the cool and quality content. Keep going!
Don’t forget I’m not a robot. I explore, read, upvote and share manually :)
much appreciated, thank you mr. not a robot!
Yeap! I'm 100% human-being and waiting your new writings :)
Thank you @loitap for your posting this, you got my upvote. you made me really think what the steem stands for, and find the reasons why bring us all here ,
I look up steem white paper, find the following
" Steem is designed around a relatively simple concept: everyone’s meaningful contribution to the community should be recognized for the value it adds. When people are recognized for their meaningful contributions, they continue contributing and the community grows. Any imbalance in the give and take within a community is unsustainable. Eventually the givers grow tired of supporting the takers and disengage from the community"
https://steem.io/SteemWhitePaper.pdf
this is so true. that is why steem attracts millions of us, you and I , who came to steem to participate and devote ourselves, do what we love and get rewarded at the same time, instead of enriching only people like facebook founder Mark Zuckerberg who are all just for their own pockets.
If we continue to do our best and help our steem community grow, help each other grow, I can't imagine what the steem is going to look like in 3 years, 5 years or 10 years. It will be a wonderful, self- fulfilled ride for sure...
The use of a decentralized networ as the blockchain for social networks is revolutionary. The steemit system lets the users know that their content has value and that they can make profit from it without giving their information to a corporation.
It's being rumored that Twitter wants to ban the propaganda about cryptocurrencies. Do they feel threatened by these new platforms? We'll know it very soon.
Although steemit has few users as you mentioned, its future looks promising, the community is growing constantly and the quality of the content is increasesing.
most platforms/advertising venues are banning crypto related advertising. Not sure if they feel threatened or simply want to protect their users from scams. sadly there are currently many ICO scams.
hey man! hope all is well, I have an urgent message in your steemit.chat regards London Crypto Currency Show. Can you please get back to me?
Hi @starkerz ! Following up on yesterday message for #promo-steem , here is what I wrote today:
For the Promo-Steem Voluntarysts and Supporters - The Guild is Coming and the Sponsoring Information Too! This is Great News for the Promo-Steem Community
Looking forward to your thoughts!
Regards. @gold84
There are many layers to it. Steem itself is a cryptocurrency based on the blockchain, and our ecosystem is entirely focused on social media and media in general with a goal to generate value around content creation and curation. The whole world watched Facebook achieve a valuation in the billions by becoming the world’s most popular social media platform. Where did all that value, which is very real, come from? It came from millions of ordinary people who used the platform to create and share content. That is clear proof that the creation and curation of content has financial value.
With Steem and Steemit, users can do the same kinds of things they do on Facebook and benefit directly from the value they are creating. People who create posts that other users appreciate earn Steem dollars, which have real cash value. Steem moves through the system in a series of microtransactions that bear a tiny resemblance to crowdfunding, except the system is completely frictionless and there are no transaction fees. Simply put, whenever a user upvotes an article or post, the creator earns some Steem. If a post gets a lot of upvotes, the creator can earn the equivalent of hundreds of dollars in cash, and this is happening already, time and time again, every single day.
Blockchain, a similar innovation that backings Bitcoin and other "cryptographic forms of money," could adapt web based distributing by making frictionless exchanges amongst customers and distributers. By taking an interest in a blockchain-controlled commercial center, content suppliers could get compensated at whatever point content they distribute is expended. They will likewise have the capacity to boost perusers to share content, which would drive more use.
Blockchain is minimal known and even less comprehended outside money related innovation (fintech) circles, however a portion of the world's biggest innovation organizations are contributing vigorously to help organizations standard their blockchain-based applications. IBM has made its own blockchain stage and helped 400 customers execute arrangements. Microsoft and Oracle have both propelled stages to help blockchain applications in the cloud, and Google and Goldman Sachs are among the best five financial specialists in blockchain innovation,