The Future of Social Media : Web 3.0 and Blockchain Technology

Greetings to my Cent Family and all of Hive. It's always a pleasure to come back to share content that both educates and entertain my readers. Well in today's blog post I'll be continuing my series on Blockchain, Social media and cryptocurrency as was promised.

In yesterday's blog post we discussed about Reputation on the Hive Blockchain and how it affects your post success.

In today's blog post I'll be taking you into the future. We'll be discussing the future of social media and the role of Web 3.0 and Blockchain in creating a future for social media.

Original Image Source by Oladimeji Ajegbile from Pexels.

Now since the time social media was established, it has really transformed how we connect and communicate. Any information whether true or false can go viral at any point.

It has brought the world closer together but has also become a medium for false news spreading and scam. Well as they say, to everything there's the good and the bad side of it.

However social media has brought a lot of benefits to our lives. We're able to stay in touch with our friends and family, follow trending news and topics and also follow our favourite stars or icons.

Blockchain technology on the other hand has completely changed the way we handle and run systems. Since the Introduction of the first cryptocurrency, Bitcoin till now, the way we make financial transactions has changed.

There's more opportunities to earn money online through cryptocurrency. Cryptocurrency transactions are faster and more secure than traditional bank transactions. Even the supply chain management system has been transformed by Blockchain technology.

Now the merge between Social media and Blockchain technology creates a new world of possibilities such as the very platform I'm sharing my blog post on, Hive.

Every benefit that Hive gives to its users is the benefit from the merge between Blockchain technology and social media.

Indeed with this merge, there's a future of new possibilities.

You have benefits like Decentralization. This essentially gives control of user account and data like blogging content to the users.

Unlike traditional platforms like Facebook or Twitter were a single organization technically owns whatever you post on their platform, you can be confident that you control what you post on Hive.

It's also censorship resistant because of the use of Blockchain which makes it pretty hard for a single individual or organization to influence the platform.

The future of Hive is basically in the hands of the users. They determine the direction Hive should go and it will create a platform that has the interest of the people as the primary objective.

Besides Decentralization and the lack of censorship, the merge between Blockchain technology and social media has allowed for the possibility of rewarding content creators and curators with cryptocurrency tokens.

This I believe is the most ideal concept to boost Cryptoadoption. My first cryptocurrency tokens was earned on the Hive Blockchain.

How will the future of Social media be influenced by Blockchain technology you might ask?

Well for starters as everyone gets onboard this concept of Blockchain based social media platforms like Hive, it will finally give control of user data to everyone and not a few organizations that run the platform.

Imagine a world where Hive is the new Facebook, the biggest social platform out there. There wouldn't be that issue of privacy policy concerns and data security problems.

We all control the data we share on the platform. There's ownership and control and everyone will have it.

Now there's also going to be a better adoption of Non Fungible Tokens, NFTs. Blockchain technology really makes it easy to own, acquire and sell NFTs. Blockchain merging with Social media will have more people owning NFTs which are usually great financial investments.

The NFTs can be used as the profile pictures. You wouldn't just have a mere picture as your profile but rather a profile picture that has value which can be sold or bought as a form of investment.

Now another thing that will prevail in the future of social with the merge of Blockchain technology is the transparency and the fact that there's no centralized authority.

All the transactions done on a Blockchain is recorded by the Blockchain and can be accessed by people. This will hopefully discourage fraud and people that try to cheat the system. We can detect fraudulent behaviors faster and find solutions to it.

One other thing that will happen which can already be seen on the Hive Blockchain is that Social media merging with Blockchain technology will create a deeper sense of community.

Since the users determine the direction of the social platform and are also the ones building the platform, they have to come together and work together to develop the platform. This will promote or foster unity and bonding between people.

We will finally accomplish what traditional social platforms set out to do but couldn't quite achieve, a stronger community.

I'll end my blog post right here guys. I hope you enjoyed it and found it informative. Thanks for taking the time to read my blog for today as well. As always, I'll be ready to respond to all your questions or comments regarding my blog post. Have a lovely day guys. Catch you next time. Bye❤️

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