Is Blockchain-based social media worth it?

[Turkish88]

Last year i see how many social media platform failed to start good project.
I dont know technical reasons but i see how projects die with dumping price on exchanges.
Maybe our blockchains even young and slow for this type usabilities.

[betty11]

Blockchain based social platforms are still new and getting people attention. Facebook has been around for a while. When people get to know they will be rewarded for just commenting or posting on social media, they will switch allegiance to money based platform. It's yet to gain a big popularity. 

[Abiky]

Blockchain based means once its on the chain, nobody can remove it which is a bad idea. Once 4chan freaks decide to abuse that platform there won't be going back. It will never work.

Forums, social media... these stuff needs to be centralized.

Centralization is not always a bad thing.

Agree. Some things are not designed to be truly decentralized after all. A good example of this is the Internet. We cannot decentralized the web, by storing all the world's data in a Blockchain ledger. The decentralized nature of Blockchain, makes it impossible to scale towards millions of users worldwide. Either you scale indefinitely while sacrificing decentralization, or all the other way around it. The Internet needs massive scalability in order to function as intended. Which is why, the idea of implementing a social network within a Blockchain seems to be like a bad one in my opinion.

The immutability of the Blockchain ledger, will prevent transactions from being reverted at will. Imagine if someone posts something illegal or offensive, without the ability to erase it from existence. This will turn into a disaster for the underlying Blockchain ledger, turning into its demise within the long term. The attempts of Steem and Voice to revolutionize social media, might turn to become a failure in the future. It's yet to be proven whenever Blockchain could fulfill many of the tasks performed in daily life. As far as I know, there are some areas which Blockchain works flawlessly (like Finance and Smart Contracts), while in others, it's terrible (like social media, and even, Bitcoin SV's metanet).

Nonetheless, Blockchain-based social media such as Steem, AKASHA, and Voice have some interesting proposals to take the world by storm. However, it's unlikely they'll reach the same level of adoption as traditional services (like Facebook and Twitter) because they're more of the same. Innovation is key, in order to attract users into Blockchain-based social media platforms. Just my thoughts

[bkbirge]

I envision several hundred years from now archaeologists and historians mining blockchain data to understand our times.

[takngantuk]

Last year i see how many social media platform failed to start good project.
I dont know technical reasons but i see how projects die with dumping price on exchanges.
Maybe our blockchains even young and slow for this type usabilities.

it's still worth using, but can't compete with social media that is already popular. although blockchain-based social media is safer, people still don't really understand how it works. so for now I don't think it will be popular but in the future maybe social media like Facebook or Twitter will be inspired by the blockchain.

[ivaf]

I don't think blockchain-based social networks have a future. Those networks that are now - it's just an interesting experience using the blockchain. But still, for social networks, this solution is not very suitable.

[Abiky]

it's still worth using, but can't compete with social media that is already popular. although blockchain-based social media is safer, people still don't really understand how it works. so for now I don't think it will be popular but in the future maybe social media like Facebook or Twitter will be inspired by the blockchain.

Exactly. Traditional social media platforms are too big to fail, and very unlikely to be replaced by a competitor which makes use of an innovative technology such as Blockchain. That's because they're easy to use, convenient, and highly trustworthy among people in the mainstream world. For Blockchain-based social media to succeed, it would need to overcome its current limitations (lack of scalability and privacy) and be easy to use among anyone worldwide. The idea of Steem and Voice is great, as they'll use Blockchain tech as a backbone for security and immutability of data/content. But lacking true censorship-resistance (decentralization) and user-friendliness, will make them unattractive to everyday people.

Which is why, I believe that Blockchain-based social media will be seen more as an alternative to traditional social network platforms rather than a replacement. There's a lot of work to be done, especially within the marketing/promotion side. If we were to compare among various Blockchain-based social media platforms, then Steem would be the best one available right now. It's the one with the most number of users (despite being behind Facebook and Twitter) with potential to outpace its competitors if it improves every step of the way. As for the rest, I don't see any future for them (except for Voice) since they have a low number of people using them. All in all, we'll continue to use traditional social network platforms while leveraging the benefits of Blockchain-based ones. Just my opinion

[setialovers]

After Blockchain's success within the mainstream world, we've seen various implementations of it into areas of finance, notarization of documents, proof of identity, and more. Yet, one of the most exciting implementations of the Blockchain has been social media, in my opinion. The first-ever social media platform was Steem, but other alternatives started to gain traction after it. We now have AKASHA (ETH Blockchain), HyperSpace (AMP cryptocurrency), and even Voice (EOS Blockchain).

With so many Blockchain implementations of a social network, it's becoming evident that this is the industry of the future. Of course, none of the mentioned platforms have been able to overcome Facebook or even Twitter. But the potential is there, to help change our world for the better. Still though, the number of users within these platforms are not comparable to the likes of Facebook.

Which makes me wonder, if Blockchain-based social media platforms are actually worth it? Do you think there's a future for them? Or are they just a niche?

I think social media platforms utilize the size of users to develop their own cryptocurrency. For example, Facebook members are more than 2 billion and if 10% use or hold a Libra Coin worth $ 10, the money collected is more than $ 2 billion. This is a great potential for social media developers to seek profits from the burgeoning cryptocurrency market

[SquallLeonhart]

I think social media platforms utilize the size of users to develop their own cryptocurrency. For example, Facebook members are more than 2 billion and if 10% use or hold a Libra Coin worth $ 10, the money collected is more than $ 2 billion. This is a great potential for social media developers to seek profits from the burgeoning cryptocurrency market

In other words, you are saying that the blockchain technology is more important to those social media in the aspect of financing and not the technology itself, because to me , if I am going to get involved in any social media that is using blockchain technology, I will first need to see the usefulness of the technology to me first.

There are numerous things that blockchain is meant to assist a social media for, at least in the area of decentralization and transparency, and I think the main reason why Facebook is trying to implement the blockchain is because of its decentralization, although it would exclude the anonymous part of it, and maybe it could help them to be quite transparent about their operations that is making government keep an eye on them.

[Abiky]

I think the most suitable use of blockchain can be really useful in financial aspect since its about transaction in a decentralized approach but since social media gaining so much attention in the modern world I think blockchain based projects that into social can be useful as long as they have new idea how to utilize blockchain into it. Im thinking Libra can be useful for facebook since its a huge network and lots of merchants and ads marketer that can benefit on blockchain as well.

Maybe. I guess we'll have to see how everything unfolds with Blockchain-based solutions in the long term as people are still accustomed to traditional services like Facebook and Twitter. Of course, Blockchain has been very useful for finance, but it can be expanded to areas far beyond reach. It's no secret that centralization has dominated the social media space for years. Many people trust big companies like Facebook and Twitter because they've been on the industry for quite some time. Decentralized alternatives like Steem and Voice are fairly new to the mainstream world. The would need to prove themselves better than traditional social media platforms by delivering true censorship-resistance, and most of all, ease of use. So far, neither Blockchain-based social media platform has such characteristics. Which is why, I believe that Facebook and Twitter will be in the lead of the social media industry for a very long time.

The idea of a Blockchain-based social media platform is good, but without ease of use or true censorship-resistance (Steem is centralized, as well as, Voice with its KYC requirements), it becomes more of the same. When we compare various platforms such as Steem, Voice, AKASHA, and Memo.cash, we notice they they're different from one another in the way they operate. Among those platforms, it seems to me that Steem is the easiest one to use yet limited by massive adoption within the mainstream world. Its model is similar to a blogging platform where people make their own articles/posts. Those that are already familiar with Blogger or WordPress will find it easy to use Steem as well.

Nonetheless, time will tell us whenever Blockchain-based social media will prove to be a success or all the other way around it. Current Blockchain-based social media platforms have a long way to go in order to compete with existent services like Facebook and Twitter. Just my thoughts

[r32godzilla]

All of them are pretty new, in beta phase so we cannot judge whether they make sense or not.
But it is time to make a change in this industry, user datas need to be more protected. Profits from ads could be distributed equally to all users.

[Abiky]

All of them are pretty new, in beta phase so we cannot judge whether they make sense or not.
But it is time to make a change in this industry, user datas need to be more protected. Profits from ads could be distributed equally to all users.

I believe that Blockchain-based social media still has a long way to go, as they lack a user-friendly experience unlike traditional services like Facebook and Twitter. Of course, Blockchain-based social media like Steem and Voice are much better than traditional services because they allow people to control their own data. But I believe that they're focused more on their technicalities instead of marketing/promotion and a user-friendly experience that will drive them towards massive adoption within the mainstream world. That's why neither of the Blockchain-based social media platforms have been able to overcome existent centralized services like Facebook and Twitter. These services have a huge user base, which are quite difficult to take down anytime soon.

Which is why, the term "Blockchain-based social media" may be more of a niche than anything else. In the end, centralized social network platforms will continue to exist while Blockchain-based alternatives will only consist of a small portion of people within the mainstream world. Just my opinion

[Shallow]

I think there is a future in blockchain-based social media platforms, although Steem has taken the lead it still needs more improvements so as to stand a better chance to challenge platforms like medium. The competitive advantage Steem has is, it is based on blockchain and rewards its users which no centralized systems has done so far. Nevertheless, there have been many social media platforms which had good concept at first then later on missed it entirely and are no where to be found, a good example is Enlte. So I think if really developers will stick to their main idea, there will be more and better blockchain-based social media platforms.

[retnoanjani]

We know that blockchain can provide increased performance, if it is associated with social media it will provide a pretty good appeal. Moreover, social media lately is quite a big impact on human life to show its existence. If the blockchain-based platform is also possible to earn money or cryptocurrency it will definitely make it more attractive.

[Genkotsu]

all of website you mention above, i don't one of them are social media platform, but i'm prefer to tell all of them blogging and content writer platform like Medium, because we are familiar and most users use it as a blogging platform not as social media.

CMIIW

[chanc3r]

Not really worth it I'd say there are already some popular media out there and creating one is not a really good idea if it can't compete with them. Most of the users that join in a blockchain based media are there for the rewards anyway they are not going to stay there forever once the rewards has gone most of the users will be gone aswell. It's like a paid member and that's not good.

[Genkotsu]

Not really worth it I'd say there are already some popular media out there and creating one is not a really good idea if it can't compete with them. Most of the users that join in a blockchain based media are there for the rewards anyway they are not going to stay there forever once the rewards has gone most of the users will be gone aswell. It's like a paid member and that's not good.

yeah like the developer paid member for stay in the platform.
this is a normal, because people need feedback for their activity for now, not just like poepular platform like facebook where people did't get any feedback for this platform.

[rdewilde]

One of the reasons why blockchain based social media platforms are yet to overtake current existing like Facebook etc is that most blockchain developers only care of profits and nothing else, which is why once they come up with the idea and manage to launch a platform they will relent. Only Steemit till date is the only platform still growing although there are challenges but it is trying its best to remain relevant; that's the type of spirit we want. There was one which challenged Facebook but funny enough it couldn't continue, wonder what happened. So in all sincerity, we need more blockchain based social media platforms like Steemit which can challenge status quo because in the future blockchain will be highly appreciated.

[cudora]

There are already some projects trying to get into this, I believe it is called UHIVE, a social media based on blockchain and is already operating. If it is going to be successful as Facebook or not, only time will show this.

[bigcash2011]

Yeah absolutely and i think that if the top social media today like fb, insta etc do not upgrade their platforms to blockchain they have a serious threat to be replaced by blockchain based platform so basically blockchain is the upgraded version of web technology and every forward looking project has to adopt it sooner or later to stay in the business.