Discover more from Silvermint
Blockchain Will Render Facebook, Twitter and the Rest Obsolete
Imagine decentralized social media where users and content creators have all the control and the Web2 gatekeepers have none. Or imagine being able to effortlessly migrate your audience across platforms. Or even imagine users being able to generate their own content revenue, disintermediating the traditional platforms from profiting off their creations. It’s on the horizon, Cointelegraph writes, because blockchain technology will make decentralized social media a reality.
Because platforms such as Facebook, Instagram and Twitter are centralized, users are at the mercy of company bosses, who demand compliance with their platform policies. If users fail to comply, they can lose content and followers they spent years building up in just a matter of seconds.
A famous example is Twitter’s ban on former President Donald Trump. While you may debate Trump’s views, the decision by Twitter management did not include millions of Twitter users who make the platform so valuable. It showed how little control Web2 users hold over Twitter’s decisions related to their content, even though they are the ones creating value for the company.
There are already many examples of prominent influencers who have their own social media platforms because the corporate platforms would not allow them to share their content anymore. Web3 offers an obvious solution for the growing number of those who have been banned from Web2.
Providing ownership over their own content and followers? Easy ways to generate revenue from their work? Connecting it all with easy-to-use NFTs? What is there to complain about? Blockchain technology is bringing us a social-media space that rewards users — not platforms — and is better than any we’ve dreamed of in the past.
We certainly believe it. Generally when we discuss censorship in context of Silvermint, we’re referring specifically of transactions, but we mean it in the fullest sense of the word, too.