How Blockchain Is Impacting Social Media

For years, social media giants like Facebook and YouTube were the darlings of the tech scene.

Of course, the social media economy is predicated on ad sales, which requires both a gross privacy invasion for users and strict guidelines for content creators.

To appease advertisers, YouTube has demonetized videos or even entire channels, which has led some content creators to look to new platforms to reach their audience.

As the blockchain swells in popularity and usability, new platforms are creating a secondary social media network that parrots many of the features of the most popular sites today.

As if these companies needed more bad news, new developments in blockchain technology have made it possible for content creators to decentralize their operations without losing the compensation offered on popular platforms like YouTube.

Blockchain-based social media platforms like SteemIt allow platform participants to develop value by proliferating their digital currencies.

As the platform becomes more valuable, the logic assumes, so does its digital currency.

"The whole experience is more transparentThere won't be many single authorities dictating how social media operates."

To be sure, blockchain platforms are working on the problem of "Fake news," but it's a problem that could get worse before it gets better.

As the blockchain continues to grow in popularity and usability, the platforms that develop upon it can accrue a great piece of the market share.