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RE: ADSactly Tech News - Is Facebook Destined to be Replaced With DAO Blockchain Alternatives?

in #blockchain • 7 years ago

I don't think Facebook can be replaced by a blockchain alternative the entire premise of Facebook is built on the centralisation of data, its essentially a directory with a massive data warehousing program to support it.

It is built on creating feedback loops and creating pockets on the internet for echo chambers and content bias curation, thats how they are able to keep their users on and engaged for that long.

Secondly its monetization structure is all based off selling off its data to the highest bidder.

A blockchain alternative would have to function in exactly the same way but offer financial incentives like part of the ad cost back to the consumer in order to disrupt their business model

In my my mind blockchain social media like steemit aims to be more of a meritocracy and also requires investment financially and time and quality of content.

For many users of Facebook this is not appealing they would much rather use a free service and enjoy whatever content they can find on it. Facebook thrives on lowest common denominator content that can appeal to just about anyone, sex, pranks, scandal, general news and of course personal circles. It allows anyone to document seemly useless data that is not beneficial to anyone but advertisiers who want to target your interests.

7 years ago in #blockchain by
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     7 years ago 

    Your ideas about facebook seem spot on to me.

    A blockchain alternative would have to function in exactly the same way but offer financial incentives like part of the ad cost back to the consumer in order to disrupt their business model

    I am in complete agreement that this is a model that can and will be used by a superstar project. Patience...

    In my my mind blockchain social media like steemit aims to be more of a meritocracy and also requires investment financially and time and quality of content.

    Steemit is not a great platform to compare to facebook, I see a lot of differences between the two but to find them we have to look deeper into the nature of blockchain. I see it as an alternative marketing platform and I believe powers that be see it as potentially disruptive and dangerous. It is a completely new model of content delivery and for the most part a fresh take on an age old social experiment.

    Great points.

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     7 years ago 

    Hi @techblogger

    Thanks for the constructive comment and yes I agree Steemit can't be compared to Facebook! In its current form, it definitely is an alternative content marketing platform rather than a social media platform.

    Having said that its current state could form a base for all sorts of new avenues, but that will only come once they deal with the current teething issues and blockchain becomes more accessible. The barrier to entry is far too high, I always say if my mom can't use it then it's still too complicated lol

    I think the superstar project isn't too far away and i'm sure someone is working on it as we speak. The real issue i have with Steemit is that the majority of people who have been attracted to it are here for the magical money they can earn its the key motivator. The superstar platform will encourage participation naturally users will want to use it while the monetary benefits are more of a bonus for most while others can still seek to make a living on it depending on how committed and creative they are

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