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Social Blockchain

Steem.io

Steem.io

Steem is a blockchain-based rewards platform for publishers to monetize content and grow community. Approx. USD rewards paid since June 2016: An SMT is a native digital asset on the Steem blockchain. SMTs can be launched by anyone to help monetize online content and create incentives to encourage desired user behavior. SMTs are like Ethereum's ERC-20 tokens, but with certain built-in Proof-of-Brain properties and a token distribution reward system designed specifically for digital content businesses. Proof-of-Brain is a type of tokens rewards algorithm that encourages people to create and curate content. It enables tokens to be distributed by "upvote" and "like"-based algorithms and can be integrated with websites to align incentives between application owners and community members to spur growth. Faster than Bitcoin and Ethereum, with no fees Running a rewards-based decentralized social network required new advances in blockchain technology. Steem is a next-generation blockchain, uniquely designed to run real-time applicaitons with near instant, fee-free transactions. Steem has been battled-tested over the last 18 months, already processing more transactions per second than Bitcoin and Ethereum. Continue reading >>

Opportunities For Blockchain Based Social Apps

Opportunities For Blockchain Based Social Apps

Opportunities For Blockchain Based Social Apps {{article.article.images.featured.caption}} Opinions expressed by Forbes Contributors are their own. The author is a Forbes contributor. The opinions expressed are those of the writer. This story appears in the {{article.article.magazine.pretty_date}} issue of {{article.article.magazine.pubName}}. {{article.article.magazine.subscription_text}} There are a few commonly cited arguments on why it makes sense to build social media platforms on top of blockchains, and how these benefits will enable upstart social media protocols to displace incumbents. In this essay, Ill make the case that despite the benefits of moving social media onto blockchains, its unlikely that this will happen, at least directly. Ill then explore alternative options for blockchain-based social apps. Facebook, Google, Twitter, Reddit, and Snapchat unilaterally control their respective platforms. These companies generate billions in revenue by selling ads alongside user attention. Content creators generally dont share in the profits from ad sales, except on YouTube and Twitch, where creators can share in profits, but only above certain thresholds, and even then YouTube and Twitch take 25-45% of ad revenues. One common argument for blockchain-powered social media states that by putting this content on blockchain, content creators can monetize their content directly (through a decentralized advertising exchange, tipping, or a Steemit -like upvoting system) and circumvent a middleman who extracts profits. But, in general, startup companies (and startup blockchain networks) shouldnt go after incumbents who are protected by strong network effects head on. This has been demonstrated time and time again. For example, Google spent hundreds of millions on Google+ Continue reading >>

Why Blockchain? What Exactly Are The Societal Implications?

Why Blockchain? What Exactly Are The Societal Implications?

Why Blockchain? What Exactly Are the Societal Implications? Theres a growing approach that the most interesting thing about the existing crop of distributed ledgerplatforms is not the cryptocurrencies, but instead the device that underpins them: the Blockchain . Blockchain is the distributed ledger technology making Bitcoin , Ethereum et al possible by giving a record of all transactions and proving who possesses what at any moment. Its security is made certain by sophisticated cryptographic processes that happen to be performed by peer-to-peer users, through a process known as mining . The blockchain is a fresh form of digital technology that generally prevails independently of government authorities or private institutions, there is absolutely no central server, no administrator, no national boundary, no owner, and it is at the forefront of conversations about the future of democracy, money, legislation, personal information , health, security, insurance, and more to the degree that some people are even discussing whether it could cause a major disruption to traditional infrastructures. Blockchain technology functions as a public record of transactions between users. Although it was at first seen as part of the mechanism that makes cryptocurrencies work, it could be applied in a great many other ways: a few of which provide interesting possibilities. It will have a profound influence on the many ways that people and markets work and interact in the foreseeable future; and because of this there are likely to be profound implications for the nature of capitalism. Although this reality may be somewhat remote, we could still enrich our knowledge-base and be ready for the future by delving into a few of the implications now. Even if the immediate impacts of blockchain tec Continue reading >>

How Close Are We To Building A Social Media Platform Using Blockchain?

How Close Are We To Building A Social Media Platform Using Blockchain?

Answered Jan 20, 2018 Author has 51 answers and 24.8k answer views There is one already,called Blockchain for Social Networks , although it is not decentralized. It is very successful though,as it allows people to make money doing what you do for free on Facebook for instance,posting and liking. In addition, there is Yours, previously called Datt,based on the Bitcoin blockchain, Akasha on Ethereum,and Synereo. Yours and Akasha are close to alpha releases. Synereo will probably launch in 2017. Social networks are now so well established, here are some figures of social networks in 2017. Time spent: 2 hours and 19 minutes (daily) Snapchat hits: 10 billion daily video views I somewhat agree with the answer below, it does seem (on the surface) as overkill. One thing to consider: If a social media platform, Facebook for example, was able to record identities on the blockchain, it could be used as an electronic form of identification eliminating the need to carry a physical passport. I have heard rumors that this is one of Mark Zuckerberg's hopes for Facebook's future and the blockchain could help to legitimize/globalize its credibility. I have also had friends (again hearsay) that have been requested at customs to log into their Facebook accounts to prove their identity. It would function less as a social media platform and more as a globally issued identification system. Answered Sep 24, 2016 Author has 96 answers and 117.9k answer views I disagree with some of the answers that make the claim that combining blockchain and social networks is like cutting meat with a chainsaw. One of the biggest features of the blockchain is that it replaces the trust agent. In a social network relationship WE are the trust agent. We decide who we know and trust. In a transaction the role of Continue reading >>

This Blockchain-based Platform Plans To Boost Earnings For Social Media Influencers

This Blockchain-based Platform Plans To Boost Earnings For Social Media Influencers

This blockchain-based platform plans to boost earnings for social media influencers The rapid evolution of technology means that its not just celebrities who are the biggest influencers today. Now, its possible for unknown individuals to raise their awareness, their influence ability, and become famous through platforms such as YouTube , Facebook, or Instagram. Yet, while these avenues may attract a significant number of people to follow them, it doesnt necessarily mean that they get the exposure they want with the brands they want. With the global influence market worth more than $1 billion it can provide great opportunities. For the top influencers who are lucky enough to have a large fan base of over 100,000 followers, they can earn around $763 per post . Yet, for others who rely on social media to generate a profit, they may struggle due to the fees involved that go straight to agencies that act as intermediaries. As a result, this often leaves local influencers trailing behind the top ones. Backed by Japanese tech startup Extravaganza International Inc., Patron , a Japan-based blockchain platform for influencer marketing, wants to change how the industry works. It hopes to achieve this by bringing influencers and social network solution (SNS) users together from around the world under one platform, according to its white paper . Patron wants to reshape the industry by eliminating intermediaries by delivering a clean and transparent solution for brands to connect with influencers and for influencers to directly connect with brands via its decentralized platform. Consequently, local influencers will be able to make more money and brands will spend less on their influencer campaigns by using the Patron (PAT) token to pay for sponsorships. Also, because Patron uses sm Continue reading >>

How Blockchain Is Impacting Social Media

How Blockchain Is Impacting Social Media

Share on Facebook Share on Twitter Share on Telegram Share on LinkedIn For years, social media giants like Facebook and YouTube were the darlings of the tech scene. Their unbridled growth moved markets and made them some of the wealthiest companies in the world. Of course, the social media economy is predicated on ad sales, which requires both a gross privacy invasion for users and strict guidelines for content creators. Last weeks Cambridge Analytica scandal revealed the depths of the data procured from user activities. Facebook now saysthat 87 million users had their data mishandled, which potentially subjected them to biased and manipulative advertisements. Related Story: After Facebooks Privacy Debacle, How Blockchain Will Secure Our Digital Lives Whats more, last weeks egregious attack at YouTubes headquarters, in some ways, reflects the growing animosity toward YouTubes control of creators content and their ability to significantly impact a creators bottom line. Even its most prolific partners havent avoided this scenario. PewDiePie, YouTubes most popular creator, had a video demonetized last fall for presenting offensive content that he claimed was satirical. To appease advertisers, YouTube has demonetized videos or even entire channels, which has led some content creators to look to new platforms to reach their audience. As the blockchain swells in popularity and usability, new platforms are creating a secondary social media network that parrots many of the features of the most popular sites today. As if these companies needed more bad news, new developments in blockchain technology have made it possible for content creators to decentralize their operations without losing the compensation offered on popular platforms like YouTube. According to a report by Bloom Continue reading >>

Social Networking Based On Blockchain | Scala Blockchain

Social Networking Based On Blockchain | Scala Blockchain

Weve all witnessed for last decade and a half, the growth and domination of social networking arena in the online world is nothing short of remarkable. Today it has become an entity in our everyday life be it leisure, communication, business or just killing time. Also in the past we have seen social networks headlining due to various reason; it hasnt always been all sun shines. Also considering most social network moguls sitting on an insane amount of revenue; It goes to show that Social media is not going to fade out anytime soon. When small communities of common interest come together and form groups or social pages for themselves in which they can share and keep in touch with everyone in the pertaining community. That was the base idea on what most social media giants like Facebook started for students of Harvard university and within a short span of time expanded and scaled up to the entire globe. Social networks these days are anything but the opposite of the decentralized approach. From time to time Social networks have also shown us the dark and ugly side of it. Though most social media are free to sign up and use it, it comes with a price. Some serious issues with social media right now are unethical social experiments, Identity theft, Privacy issues and few others. Users hand over their personal details on it willingly and social medias also track cookies, locations, behaviors and search preferences mostly without users knowledge. This might be very destructive in the wrong hands. Also this help marketer use strategic targeting for their ads. Considering the growth and superiority of the blockchain, experts believe that new social networks built on this technology could be the answer to all shortcomings of the previous generation social networks. The need to i Continue reading >>

How Blockchain Will Disrupt The Future Of Social Media Influencers

How Blockchain Will Disrupt The Future Of Social Media Influencers

Are you ready to find out how blockchain , the emerging digital currency, is set to rock the world of social media influencers? Before we go any further, consider this: Influencers can shift a brands image from obscurity into the limelight . With the right tactics, they have the power to grow your brand and double or triple sales beyond expectations. How? Theyre highly engaged on social media, have established audiences and are the authorities in their industries. The bottom line is, when an influencer spread the word about a company, it grows. In essence, they entice consumers to jump on the bandwagon by using social stimulationalso known as word-of-mouth, viral social media marketing. This survey found that 84 percent of businesses plan to use influencers as part of their future marketing campaigns. However, technology is evolving rapidly. Businesses and influencers cant afford to ignore the impact blockchain technology will have on social media , and influencers must adapt to the new virtual currency thats set to become norm in the future. Either they embrace the change, or they get left behind in the stone age of social media marketing as we know it today. Refusing to go along with the inevitable movement taking place within the financial world will hit influencers pockets hard. Contrary to popular belief, its not all glory for influencers. Lets find out why. The downsides of social media influencers Although influencers use social marketing to shine the big spotlight on brands, there are drawbacks to consider. Surprisingly, deception is part of the gameespecially when its not possible to properly scrutinize influencers and advertisers. When this happens, the brand is likely to suffer financially and have its reputation tarnished. And this doesnt take into account Continue reading >>

6 Ways The Blockchain Is Revitalizing Social Networking

6 Ways The Blockchain Is Revitalizing Social Networking

6 Ways the Blockchain is Revitalizing Social Networking Home Crypto News 6 Ways the Blockchain is Revitalizing Social Networking 6 Ways the Blockchain is Revitalizing Social Networking Pini Raviv Last Updated On May 1, 2018 @ 08:50 For more than a decade, social networking has taken over internet users lives, with social networking apps being the preferred entry point for content and engagement. According to studies, teenagers spend at least nine hours per day on social networks, with the majority of this being done through mobile devices. The same data says that users spend even more time on social media than actual socializing. There is a downside, of course, which is privacy. As the saying goes, if the product is free, then chances are that you are the product. Facebook, Twitter, and other social networks give you untethered access to their platforms, all in exchange for something valuable insights into your behaviors, preferences, habits, connections, location, and content. Most of the drawbacks of social networking stem from the fact that actual control is centralized on the platform owner, even if the content and activity come from its users. Since its inception around eight years ago, Bitcoin has only recently caught the interest of the internet-at-large, mostly due to its potential as an instrument for investment. While the value of the cryptocurrency itself is volatile and always fluctuating , it is the underlying technology that holds promise across industries. The blockchain the decentralized and distributed ledger used by cryptocurrencies can also be used to disrupt other industries and applications. Now, blockchain startups have gone beyond cryptocurrencies. With blockchain systems like Ethereum and NEO offering the ability to run applications and establis Continue reading >>

Will Blockchain Reinvent Social Media?

Will Blockchain Reinvent Social Media?

I write about advertising, marketing, media & all subgroups therein. Opinions expressed by Forbes Contributors are their own. Social media may be poised for a major change. Social media is everywhere. The big players in the industry carry billions of users and boast massive layers of data and content. These days, though, social media may be in for a major change, possibly due to the rise of blockchain. After Facebook, Twitter, Instagram and others spent the better part of the millennium rising at meteoric rates, users have recently started to abandon social media accounts , opting for a single account, or no social media at all. Recent reports about how social media affects psychological well-being reflect a general malaise among former fans, and it seems that even faithful social media addicts are starting to grow discontent with pictures of food and long diatribes about political issues. Users who took social media seriously and produced quality content discovered that all their hard work was consumed by the platform itself, leaving them with no financial gain, and just a few million likes and a moment of fame as compensation. Content on social media became the stepping stone to massive financial gain for the platform rather than the creator. Whats more, information on social media that had been intended to be private has been made public to governments, advertising companies, and more, making users far less willing to share intimate details of life. Potential violations of privacy abound, with Facebook, Instagram, Snapchat, and the rest being willing to change the order of feed, link users with advertisers, and make information more transparent than users might like. In other words, social media is losing its edge. Blockchain is the technology behind the recent medi Continue reading >>

Blockchain Technology And Socialnetworks

Blockchain Technology And Socialnetworks

Powering Social Networks with Cryptocurrency & Blockchain Technology Blockchain Technology and SocialNetworks How Blockchain Technology is Shaping SocialNetworks Here we are with Episode #6 of our Founders in Focus series. A show that gives you unprecedented access to the most influential startup founders in the world of blockchain. Were on a mission to educate and inform founders and investors on the current affairs of the blockchain industry, providing an accurate and up to date perspective on the competitive business environment, global investment landscape, and the leaders who are changing the game. In this episode, our Founder in Focus is Gaurang Torvekar , Co-founder & CEO of Indorse , a platform using models of tokenization and decentralization to change the shape of professional social networking. Why social networks need blockchain technology Guarangs learnings and practical insights from building 2 blockchain startups The importance of building and engaging with your community as well as the wider ecosystem Transforming Professional Social Networks with Blockchain Technology Gaurang Torvekar is the Co-Founder and CEO of Indorse. He has been working in the Blockchain space from the last 2.5 years, and this is his second company in the space. He is based in Singapore and is the co-organizer of the Ethereum Singapore Meetup. He is considered one of the thought leaders in the blockchain space in South East Asia. He has applied Smart Contracts in various different areas, right from his own Prenup on the blockchain to the issuing of Digital Diplomas on the blockchain. Indorse is a professional networking platform on built on the Ethereum blockchain. A skill based professional network that gives data ownership back to the users. Unlike traditional platforms such as Continue reading >>

Five Top Blockchain-based Social Networks

Five Top Blockchain-based Social Networks

Social media platforms have taken over users' lives in a huge way in the last decade, serving as an entry point for connection, content engagements and social interaction for many people. For instance, teenagers now spend at least nine hours per day on social media platforms, especially (60 percent of the time) through mobile phones. That's more time than they actually spend socializing! Most social media platforms are free and the saying goes that "If the product is free then chances are high that YOU are the product." Historically, no company has exploited customer data and information like today. This includesinsights into users' behaviors, preferences, habits, connections, location, and content. Log into any social media site and you'll be met with "targeted" advertising and marketing campaigns, urging you to consume, consume, consume. Is it any wonder that we're beginning to see a big backlash? Targeting a user's desires isn't necessarily a bad thing in terms of helping in business networking, news reporting, collaboration, and exchange of ideas, but there are big disadvantages to it too. Primary among these is that most social media channels today are centralized, with a platform owner whose primary motivation is making stockholders happy, rather than doing what's good for society. A user's content can be exploited. There are privacy and data security concerns too. Users have little say as to what their content is used for. For instance, Facebook has been accused of eavesdropping on users through smartphone microphones . When a problem exists, someone will quickly be there to propose a solution to it. Blockchain is being tested as a solution to everything, and Social Media is one of them. With its decentralized and distributed ledgers, blockchains can be used to Continue reading >>

Blockchains For Social Good

Blockchains For Social Good

This prize aims to develop solutions to social innovation challenges using distribute ledger technology. Read the news alert from the prize launch at the Blockchain for Social Good event in December 2017. The challenge is to develop scalable, efficient and high-impact decentralised solutions to social innovation challenges leveraging Distributed Ledger Technology (DLTs), such as the one used in blockchains. DLT in its public, open and permissionless forms is widely considered as a ground-breaking digital technology supporting decentralised methods for consensus reaching as well as sharing, storing and securing transactions and other data with fewer to no central intermediaries. In the wake of the widespread public attention for Bitcoin, several financial applications based on blockchains are already under development. However, the potential of DLTs to generate positive social change by decentralising and disintermediating processes related to local or global sustainability challenges is still largely untapped. Examples of social innovations in which decentralised solutions based on DLTs have shown clear benefits over conventional centralised platform solutions include, but are not limited to: demonstrating the origin of raw materials or products and supporting fair trade and the fair monetisation of labour allowing for a greater visibility of public spending and a greater transparency of administrative and production processes participation in democratic decision-making by enabling accountability, rewarding of participation and/or anonymity enabling the development of decentralized social networks or clouds, or of decentralized platforms for the collaborative economy managing property, land registry or other public records This challenge is targeted at a wide range of Continue reading >>

How The Blockchain Can Solve Social Media's Biggest Problems

How The Blockchain Can Solve Social Media's Biggest Problems

How The Blockchain Can Solve Social Media's Biggest Problems Opinions expressed by Forbes Contributors are their own. Sunny Dhillon is a partner at Signia Venture Partners, a Bay Area-based $85 million venture fund. Follow on Twitter: @SunDhillon Blockchain could solve some of the key issues facing social media today. (Credit: Shutterstock) As we look back on 2017, one of the most significant developments this year was the emergence of the blockchain into the greater collective consciousness. Many have watched closely (and profited greatly) as the value of Bitcoin has skyrocketed (and more recently, fallen), and in perhaps the best indicator of public traction, cryptocurrency (and by association, the blockchain) became a Thanksgiving topic, as evidenced by digital currency exchange Coinbase adding approximately 300,000 users during the holiday week. To date, blockchain technology has gained popularity primarily in industries concerned with cybersecurity and payments, due to its ability to execute smart contracts and secure, rapid transactions. In a previous article , I covered how the entertainment industry is poised to benefit from advances in blockchain technology; in this article, I want to make the same argument for social media. Identifying and Rewarding Value in Social Networks Much like in entertainment, where YouTube, SoundCloud, Netflix and others control user consumption, we consume social media on a handful of platforms that have achieved massive scale: Facebook, Instagram, Twitter, LinkedIn and Pinterest, among others. These networks rely on ad-based business models, which share a major shortcoming: users, creators, and platforms are unequally compensated for their participation on the platform. For example, Barack Obama produced the most liked tweet in Twi Continue reading >>

Blockchain For Social Impact New York

Blockchain For Social Impact New York

REMINDER -- *In order to participate you must sign up on join us in the 2018 BSIC Decentralized Impact Incubator to celebrate new talents and blockchain-enabled solutions for social impact! From April 9 to May 21, participants from around the world will gather online to form teams, design business models, draft proposals and code. If you care deeply about global issues, if you want to challenge yourself to think, if you want to connect and work with people who share your passions, it's time to join the #impactincubator.-This year, we turn to four challenges that have been on the global agenda: hardware, democracy, agriculture, and refugees. Participants will be challenged to think through one of those problems, pass through weekly checkpoints, and ultimately formulate their own blockchain-based solutions. These are no easy problems, and none of them have an easy cure.-Last year, more than 600 participants from over 120 locations around the globe participated in the first #ImpactIncubator. 142 dedicated mentors volunteered their time and expertise to guide the teams. 350 individuals from organizations such as World Economic Forum, Human Rights Foundation, White Helmets, The Nature Conservancy, Asian Development Bank, UNICEF, Acumen Fund, the Start Network, and more gathered to witness the winning presentations.-REMINDER -- *Sign up here* (to join us in this extraordinary event! We need all skill sets, participants and mentors, as long as you have the passion to make the world a better place. Please feel free to forward this to your colleagues who may also be interested. Registration opens until April 16th. Continue reading >>

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