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What do blockchain technology and online dating have in common? At first glance, probably nothing, other than their popularity. Blockchain technology is still supercharging its base while major players are finding their way onto scene--such as IBM and Maersk. Likewise, online dating is still as popular as ever. In the US alone, about 50 million people have tried online dating. The rising demand has created a 2 billion USD industry, and it shows no signs of slowing down.
Part of this due to the coming of age of younger generations. While eHarmony and Match.com, which combined have over 40 million users, are go-to’s for more serious daters, millennials and younger crowds still flock to dating apps like Tinder, Bumble, and Hinge. While the preponderance of these apps and platforms is an incredible technological feat, some argue it has come at a cost.
Dr. Mark Regnerus, an associate professor of sociology at the University of Texas at Austin, wrote an essay for the Wall Street Journal last fall entitled “Cheap Sex and the Decline of Marriage.” One quote from a young male respondent was particularly striking. He said about marriage and dating,
I am not done being stupid yet. I still want to go out and have sex with a million girls… Girls are easier to mislead than guys just by lying or just not really caring. If you know what girls want, then you know you should not give that to them until the proper time. If you do that strategically, then you can really have anything you want…whether it’s a relationship, sex, or whatever. You have the control.
To be sure, everyone has the right to do whatever they want in their love life--as long as it’s not forced on others. Yet this mindset permeates the online dating atmosphere, especially with younger generations, and unfortunately females in particular are prone to sexual harassment, sometimes even full-blown stalking. According to Statistic Brain, 10% of sex offenders use online dating to meet potential victims.
This heartbreaking atmosphere really boils down to a lack of trust. A lack of trust can, in turn, lead to a culture of flakiness, manipulation, and abuse. What’s abundantly clear is that general matchmaking algorithms, for all of their brilliance, cannot do the trick. Blockchain technology, however, just may have the solution.
Blockchain companies working on decentralized alternatives to compete with traditional, centralized online dating platforms. The end goal is the same--to connect with others in pursuit of mutual interests, be it a relationship, physical satisfaction, or simply a fun night out. Yet by utilizing blockchain technology online matchmaking and dating can be truly peer-to-peer, more secure, and much more effective.
Blockchain Matchmaking Platforms
One blockchain platform, Ponderapp, decentralizes matchmaking, letting any platform user--who’s been properly vetted, of course, serve as a matchmaker. This setup brings the informal matchmaking people do all the time and distributes it to the mass-market. By utilizing human judgment and social capital, the platform can outperform any impersonal algorithmic machine.
The introduction of a blockchain token allows for a clear exchange of value between matchmakers and those who join their pools. Tokens are used my matchees to pay matchmakers for providing the matchmaking services. By decentralizing the process, transparency and trust are increased while costs are greatly lowered. The platform allows for individual and group matchmaking services, giving participants an element of customizability.
Another blockchain company, Luna, also offers decentralized services. It’s goal is to match individuals with aligned incentives. Revenue is only generated when users meet in person or make meaningful connections. The implementation of blockchain technology facilitates the alignment of platform and user incentives by through the Luna network, which captures value and shares it with token holders. It also paves the way for peer-to-peer transactions without using a third party, resulting in a completely trustless ecosystem.
One final blockchain platform, Hicky, uses the proprietary HKY coin to secure the network and incentivize good behavior. The platform verifies every user and logs data on the immutable blockchain. Matches are made through predefined filters and attributes, which results in highly relevant pairings. So, whether things work out in the end or not, one can still earn money for simply being a courteous, kind, and enjoyable date.
Photo: Burst
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