Blockchain will make a revolution in social networks

Creation of blockchain technology will lead to a revolution in the social media industry, which is already visible in areas of increased reliability and profit opportunities.

Img. source: YouTube

Derin Cag, the founder of Richtopia, says:

“With the growth of blockchain technology, social and economic transactions are improving and becoming more democratic."

According to him, there are many advantages of having a technological basis in form of blockchain on social networking platforms.

First, it can help solve the problem of counterfeit news by creating a credit rating system based on awards for journalists and bloggers that can be embedded in all websites.

Secondly, it can improve the confidentiality of users by allowing people to participate in programs where they automatically receive payment in cryptocurrency when their private information is sold to third parties.

Third, it can improve automation process through the usage of intelligent contracts, when blockchain can interact with multiple platforms simultaneously on behalf of users. For example, at the moment we have a much deeper level of communication with Twitter and Instagram via Facebook.

Fourthly, if the platform for social networks is based on the blockchain, it can help improve security. For example, Bitcoin, being one of the most valuable phenomena of the Internet, has never been hacked.