Facebook, Twitter, Instagram, LinkedIn, Pinterest – all centralized social networks and all social media platforms that we know.
Until recently, most users were happy to feed their data and content into a centralized system without really thinking about the ramifications. However, infamous scandals of data misuse have given societies across the globe cause for concern. Suddenly, people started to wonder exactly how their data and content was being used. With the exception of major influencers who are compensated (to put it mildly) for content creation, for the average user, being a part of a centralized social network means sharing your data and being rewarded with a barrage of bots and fake accounts that fill our news feeds with forced content. Needless to say, this degrades the user experience immensely. As a result, scrolling through your feed becomes just like opening an inbox full of spam.
But if we read the tea leaves of the awesome industry that is social media, the solution to these problems seems both intuitive and innovative. Here are some of the trends that let us know why blockchain is the next step in social media.
Users are no longer willing to be the product
Since social networks are rich portals of user information, data can easily be collected and sold. Not only is this process easy for traditional social media platforms but it’s also legal. If you skim the Terms of Service, of most social networks that uploading content itself constitutes forfeit of the user’s ownership over their content and the networks are free to access your content for their own purposes. Some networks even go so far as to say that users own their content but at the same time make it clear that it will leverage user information to target advertising and customize engagement.
People want more control over their content
The goal of a blockchain-based network is to get rid of the central server and make it impossible for a single entity to be able to enforce monitoring and controls over user-generated content.
This, of course, doesn’t come for free. A transaction must occur so the hosts can run. This is where a cryptocurrency comes into play. The cryptocurrency rewards node hosts so that there will be a financial incentive to run a decentralized network. This actually takes the decentralization a step further, as it takes away any financial incentive for the network company to run ads or sell user.
Social networks certainly have their place in the world in terms of business networking, collaboration, and exchange of ideas, but data security has become another focal point of concern.
The decentralized nature of the blockchain ensures privacy and security through a distributed consensus mechanism.
By decentralizing and encrypting all data and uploads, blockchain-based social media networks eliminate all invasion of privacy that large corporations are currently performing.
Freedom of speech
Many markets where blockchain social media is blossoming are the same parts of the world have only recently gotten access to the internet and some of whom even live in repressive regimes or a place where censorship is an issue. Here, a decentralized approach to social networking allows communication metadata to be scattered across the globe, therefore circumventing censorship.
Apart from posts, likes, and comments, peer-to-peer commerce is another area being explored by social networks. This is particularly important in parts of the world where most people own mobile phones but not computers.
Since cryptocurrencies are blockchain-based, users can easily exchange coins or tokens through the same social network. In addition, smart contracts can make social networks function more like a trusted network, wherein users can make actual deals or exchange of value through cryptographically-signed and executed contracts. There is potential for all kinds of industries integrating social with all sorts of transactions.
So what’s next?
In a world dominated by centralized platforms, the solution, in this case, is a decentralized platform that empowers users to own their data, choose whether they share it or not, and monetize their content. Enter all.me digital network.
All.me is a visual-based blockchain social network powered by ME Token, the network’s cryptocurrency. More specifically, the platform gives users full control over their data. Users are incentivized to create quality content by receiving ME Tokens, which can be used in all.me’s marketplace or exchanged for other cryptocurrencies.
Decentralization is the next step for social media. When users own their personal data, they decide what to do with it. All.me app is set up to reward users for content creation. By activating the Promo account users enable ads to be displayed to their subscribers. From here, users can earn up to 50% of the advertising revenue generated by the network. Earnings are deposited once a month to a user’s meWallet that they can further use to store, trade or exchange their ME. Users also have the option of connecting their meWallet to an Ethereum wallet.
The platform creates an ecosystem where businesses, brands, and users benefit when they conduct transactions using ME Tokens. By any measure, this is a much fairer model of content monetization, especially when compared with older platforms.
Almost all traditional social media apps track user activity and sell the aggregated information, behavior, and habits to provide the highest bidder with more precise targeting for their advertising and marketing campaigns. Two years ago, one of the most popular traditional social media platforms brought in 9.32 billion dollars in advertising revenue and kept the profits to themselves. With all.me, you can create original content, engage with your subscribers, enjoy all the benefits of social media, and earn in the process. If you share this vision for social media, make sure to check out the app.