Facing Down Big Tech: How Blockchain Social Media Will Topple Zuckerberg

In the light of a House Judiciary report determining that "Facebook's monopoly power is firmly entrenched and unlikely to be eroded by competitive pressure from new entrants or existing firms," can blockchain-based social media topple these social media powerhouses, given the unchecked power these giants wield over corporations and individuals? Even beginning to challenge the omnipotence of Facebook, Apple, and Google seems a daunting, nigh-impossible task.

"Social media has been designed to target the vulnerabilities of our psychology, damaging our wellbeing through an experience that is highly addictive, divisive and egocentric," sums up Eric Yang, the founder and executive director of blockchain social media platform Junto.

Blockchain-based social media can chip away at the omnipotence of big tech by giving power back to the people.

Is it really workable in practice? Are all blockchain social media platforms following this model? And how exactly do these communities self-moderate? These questions still need to be answered as blockchain social media grows.

Blockchain security consultant and writer Reuben Jackson believes this is the biggest obstacle facing social Dapps.

"Social media users do not usually care about the issues addressed by these decentralized social media projects and/or are often too lazy to spend time and effort to switch and use something more secure and fair," says Micha? Szachno, a blockchain security expert.

Co-founder of VAIOT. He doesn't believe blockchain social media will topple current platforms any time soon.

While many blockchain social media platforms have introduced innovative tokenized economies, there are still many battles to be won.

It will probably take several years for blockchain social media to grab even a small proportion of the market share.

Zuck may not be losing sleep over blockchain social media right now but you can bet he's paying attention.