Can blockchain disrupt social media?

April 27, 2018

Will blockchain-based social networks do to today’s internet giants what Facebook, Amazon and Google did to the gatekeepers of the past? Will they be a bulwark against censorship and fake news, decentralize Big Tech, give users the chance to monetize their data, and in turn, reinvent social media? Last year, as cryptocurrencies morphed into a legitimate threat to fiat currencies, and Facebook’s toxic power was exposed in one headline after another, these questions began to percolate. In the spirit of revolution, a new crop of platforms emerged, seeking to fight the giants by decentralizing control. Powered by blockchain technologies, they built alternative models: decentralized, peer-to-peer ledgers that eliminate the hubs responsible for privacy breaches and censorship, while paying users for what they create.

 

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