Why are Social Networks like Facebook and Twitter moving towards blockchain?

[jjbanks994]

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

[hayleewilson]

If you understand blockchain well, you'll have an easy answer to that.

One answer I have in mind is, blockchain is seen by these social media giants as a powerful technology — powerful in a sense that it is decentralized. By being decentralized, it won't have to be controlled by any central authority or government. There will be reduced (to zero) taxes, easier transaction based on smart contracts, lesser manpower on the part of FB and TW (hence the huge money that can be saved).

Any visionary would see blockchain taking over most business transactions in the near future.

[passwordnow]

Main reason technology. And it is one reason why it never stops and tech giants aren't stopping to adopt such new features and technology that they can adopt to their businesses. They are making themselves still on the trend so their users and customers won't be outdated but they won't just adopt a single technology that recently found if there's nothing that they can take advantage of it. A good technology such as blockchain will always be adoptable by any company that sees its potential.

[icalical]

well, of course because blockchain is actually useful for them, both Facebook and Twitter use blockchain as media to compensating their user. But I think they will find much more utilization on blockchain, and other big platform will also join the blockchain movement eventually.

[Tipstar]

They have realised that ultimately blockchain is the tech that would make them invincible from a different disasters.
Whether it be for security of personal information, data, advertising preference or making the platform ban proof.
They also are intending to be integrated with personal day to day activities ranging from payment of IOT.

[Lakai01]

They are going to use blockchain in completly different areas then we think of. Eg facebook already has a huge userbase, imagine everyone of this users is a small validation node and eg. ensures that a specific post isnt fake news. The possibilities are endless and I am very looking forward to what they come up with!

[judeafante]

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

The answer is pretty obvious companies big and small are now using and looking at it now, so why not them, they are capable to create and adapt it to their system and of course they should be up to date on what's happening around them it will benefit the cryptocurrency if these two giants will become one of us.

[thesmallgod]

If you understand blockchain well, you'll have an easy answer to that.

One answer I have in mind is, blockchain is seen by these social media giants as a powerful technology — powerful in a sense that it is decentralized. By being decentralized, it won't have to be controlled by any central authority or government. There will be reduced (to zero) taxes, easier transaction based on smart contracts, lesser manpower on the part of FB and TW (hence the huge money that can be saved).

Any visionary would see blockchain taking over most business transactions in the near future.

I agree with all your reasons except the decentralized one. Most social network will never want a situation whereby they do not have total control over their project. Take for example facebook. Facebook has become one of the social networks that have millions of traffic every hour. features such as ads are totally controlled by the team and this is the reason why you cant remove ads that are displayed on your timeline because that is their major source of finance

[thesmallgod]

we have heard alot of rumour about big social network such as facebook wanting to adopt blockchain technology although up till now, facebook categorically hasnt make any statement concerning this. However, maintaining platform such as facebook and twitter is not an easy task. the robustness of such platform make blockchain technology the best for them because pieces of information can well be managed by the technology at a very cheap price.

[Teknisi88]

Because through the blockchain they can get more benefits especially facebook and twitter enthusiastically and the supporters are very crowded so it will be very easy if they want to go to the blockchain.

[Bttzed03]

They are huge businesses and it is only wise decision for them to integrate blockchain technology into their platform to adapt to the changing market. You don't want to be left behind if you're a businessman.

[slaman29]

Because they are afraid of becoming the next MySpace. A first mover, but slow and not moving to the preference of users, who always want the latest trends, whether it is correct or not really correct.

Blockchain is the baby of the current generation in technology. If you're not doing blockchain, you're not keeping up with the times. It will become a thing of the past, once blockchain becomes the mainstream.

[Tipsters]

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Basically what is the main motive of this social networks? Simple blockchain is a good source of income and profit. I know Mark Zuckerberg, hate cryptocurrency but he knows that the crypto can probably increase by more than 100x fold the income of his social network. Imagine facebook users on the whole world will probably be interested in his coin or token once he decide to make one.

[shoreno]

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Basically what is the main motive of this social networks? Simple blockchain is a good source of income and profit. I know Mark Zuckerberg, hate cryptocurrency but he knows that the crypto can probably increase by more than 100x fold the income of his social network. Imagine facebook users on the whole world will probably be interested in his coin or token once he decide to make one.

he hates crypto but why he would create a crypto ? if its for the income purposes , well mark z is already wealthy from facebook alone that is why i dont think that he will enter the crypto scene  rather he will only be using blockchain to integrate with thier service because also see the potential of blockchain   . blockchain isnt all about crypto , i dont know if you are already aware with that  .

[ethereumhunter]

Main reason technology. And it is one reason why it never stops and tech giants aren't stopping to adopt such new features and technology that they can adopt to their businesses. They are making themselves still on the trend so their users and customers won't be outdated but they won't just adopt a single technology that recently found if there's nothing that they can take advantage of it. A good technology such as blockchain will always be adoptable by any company that sees its potential.

Yes, of course. They are aware of the technology trend, and now, cryptocurrency has become a new trend which they can participate too. Besides that, they are big companies that can easily to join and trying to implement blockchain with their system. But still, there is a time for them to research and find out what will fits with their needs.

[tippytoes]

If you understand blockchain well, you'll have an easy answer to that.

One answer I have in mind is, blockchain is seen by these social media giants as a powerful technology — powerful in a sense that it is decentralized. By being decentralized, it won't have to be controlled by any central authority or government. There will be reduced (to zero) taxes, easier transaction based on smart contracts, lesser manpower on the part of FB and TW (hence the huge money that can be saved).

Any visionary would see blockchain taking over most business transactions in the near future.

I agree with all your reasons except the decentralized one. Most social network will never want a situation whereby they do not have total control over their project. Take for example facebook. Facebook has become one of the social networks that have millions of traffic every hour. features such as ads are totally controlled by the team and this is the reason why you cant remove ads that are displayed on your timeline because that is their major source of finance

That's right. Though fb wants to integrate blockchain technology within their platform, somehow they will find a way how to have the full control of its usage. They realize that this technology will save them thousands and thousands of dollars in their operations, making them more profitable in the long run. And considering the number of active users on their platform, marketing will be an easy task for them.

[Sacramentus]

Is it a bad idea for them to join the blockchain industry?  They have analysed the blockchain and they see it as a huge step to take so they want in and to me it's really a good move to make. It will add to the development and popularity of blockchain

[Muzika]

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Yes ofcourse their motives are always win win solution there is nothing to be worried about it, maybe the time that they dont want blockchain because they might resolving some issues first before they want to adapt it very well. It really helps the company when adapting the blockchain technology in many ways. And of course they are leading social media therefore they should adapt something new not only for the people but also for their own welfare.

[semobo]

Blockchain is something that can be implemented on anywhere so it is nothing wrong if the social media want to move to blockchain technology.They are just doing something like that how satoshi implemented blockchain into bitcoin way back.

[semes]

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Blockchain is a great technology. Why they don't want. They will have a advantage with Blokchain. I guess Blockchain and social media apps very convenient to each other.