Mark Zuckerberg called looking into decentralised systems as “one of his personal challenges for the new year”. The co-funder of Facebook Has stated that the power of decentralised systems (like cryptocurrency) could help take power away from the centralised systems back into the hands of individuals.
Blockchain Social Media?
Blockchain could be the answer to problems modern social networks come across on daily basis. Fake news or cyberbullying are just a couple of examples off a long list of issues. Services offering a sale of followers, likes etc. help boost fraudulent content and there isn’t much the networks can do about it. Blockchain could be the answer.
Peer review is an effective tool to regulate behaviour within a social network. A rating system coupled with a reward system could make all the difference. Doge coin is already being used in such a way by its community.
So what’s next?
It’s exciting to see a giant like Facebook – with over a billion people logging in each day – interested in cryptocurrency and the blockchain technology.
Are we going to see a fully decentralised social network in 2018? Or maybe a Facebook coin?