Very important in social networks is the security of the data of their users. If social networks are built on blockchain technology, it will be very good. It will also be possible to integrate cryptocurrency into social networks, for the convenience of calculations. Everything would be transparent and safe. I think that in the future there will be social networking platforms built on blockchain technology.
Agree. Blockchain technology is proven to be extremely secure and efficient for finance and other applications within the mainstream world. Adopting the same for social media could provide a whole new experience to end users. It's no secret that platforms which use Blockchain technology for their own benefit are able to maintain the integrity of data and user's privacy. Steemit, AKASHA, and even Voice have adopted Blockchain technology in order to present themselves as viable alternatives to traditional social media platforms of today (such as Facebook and Twitter). While they're still far behind the big players in terms of mainstream adoption, their technology is superior as it puts the end user first. People will be able to control their utmost sensitive information with Blockchain-based social media platforms than traditional ones we've been fond of for a very long time.
As of now, Steemit is the largest Blockchain-based social media platform that could turn out to be a viable competitor against traditional social media platforms if it continues to improve every step of the way. It needs a lot of marketing/promotion in order to attract users into it. With an attractive economic model, the Steem platform could remain sustainable for years to come. I'd be surprised to see giants like Facebook and Twitter adopting Blockchain technology someday. It would turn out to be a game changer for the social media industry as we know it. Only then, decentralized platforms (like Steemit, AKASHA, and Voice) will be able to directly compete with centralized ones. While we're still early to tell what the outcome of Blockchain-based social media will be, the space is maturing at a fast pace.
Nonetheless, the idea of a Blockchain-based social media seems to be quite revolutionary. Whenever it'll be successful in the long run, it's yet to be seen. After all, Blockchain technology is NOT meant to replace everything. Social media platforms might as well adopt cryptocurrencies for social media payments (tipping, etc) than using the Blockchain as a sort of centralized database. In the end, people will decide which types of social media platforms to use as time goes by. Just my opinion
