Blockchain’s Effect on Social Media as Seen Through Six Trends

Blockchain’s Effect on Social Media as Seen Through Six Trends

Social media is going through a major change right now, and you must be aware of it and tracking this shift regardless of whether you’re a marketer or business owner. This change is due to blockchain technology, a new development that’s affecting a lot of different industries, and most recently, social media. Because businesses are using social media more and more to boost their brands, it’s important to know that you may soon realize that this investment was pointless.

Blockchain technology is only improving, which means we’re poised to see a drastic shift in networks that businesses and consumers use. That means you should be monitoring trends that are pointing to a future blockchain-enabled marketing on social networks.

1. More Focus on Identities Verified Online

There’s a boost in bot issues on social media platforms, especially as experienced by Twitter and Facebook. That means that businesses want to find sites to run customer service where they can optimize and increase their return on investment (ROI). Blockchain is appealing because it gives business owners the chance to engage with clients that have verified their identity via blockchain and smart contacts. That helps businesses avoid fake pay per clicks and ad impressions, otherwise known as social media’s black hole.

2. Marketplace Verification

This is similar to the point on verifying identities and how blockchain is affecting social platforms. Marketplace verification is also a trend on the rise, and virtual marketplaces help businesses focus on certain needs and grow their company. It also helps them interact with vendors and other like-minded stakeholders in a more secure environment. When we see that blockchain will become more socialized and popular, marketplace verification will only improve the potential growth of a business product. You can also check suppliers and boost advertising, thereby increasing your ROI.

3. Combination of Cryptocurrency and Blockchain

When you’re on a social network platform, we can see a new and exciting combination of blockchain tech and cryptocurrency. Such a decentralized platform will eventually be more mainstream and will give social media users the possibility of different network platforms. You can also get the opportunity to gain cryptocurrency through specific activities online, and therefore bring in more users to your site if you reward their contributions.

4. Collectibles from Cryptocurrency and Blockchain Technology

Another trend that will emerge is the convergence of collectibles when we talk about blockchain tech and cryptocurrency, and their impact on social media. The collectible industry of cryptocurrency is getting more and more popular thanks to early influence and investment. Some of this initial investment isn’t taken very seriously, that’s true, but collective crypto companies are moving towards bringing in games on mobile platforms. You can then see the potential of building sub-markets on cryptocurrency collectible games, boosting the appeal of this trend.

5. Blockchain Can Prevent the Proliferation of Fake Content

By using blockchain technology, you can utilize intelligent contracts to negate the use of false content. In today’s world, comments can easily get flooded by fake or spam content on the existing social media platforms. In the future, social networks can disseminate content thanks to verified information and traceable data due to blockchain technology. That means advertisers or marketers can prevent fake content from being disseminated.

6. Journalist Bias Can Be Tracked

Every type of news or article can be shared in many different perspectives and points of view, all depending on the author of the article and the publication that’s releasing the news. Then, content readers have to decide if they’re okay with that side of the story or if they want to research the news on other sites. However, with blockchain technology, users can track journalist biases by looking at the digital pen. This allows you to review all their past articles and find out if they lean a certain way or have a bias. You can then keep that in mind when you read their content and take that into consideration instead of trusting their word at face value.

 

About the author

Molly Crockett is a tech lead and blogger at Custom essay online writing service. She shares her latest ideas and research results by contributing to online magazines and writing a blog.

Publication date: 
01/17/2020 - 12:45
Disclaimer

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.