Monday, 21 October 2019

How Can Blockchain Technology Transform Social Media?

In 2019, social media has become a fundamental staple in the daily lives of millions of individuals all around the globe. At this point in time, it’s hard to imagine a world where the concept of ‘liking’ a picture on a screen is foreign to us.

As per a report published by Statista, a staggering 81% of the US population were active users of social media, and the numbers were only going to grow from there, with the same report estimating that the global monthly users of social media platforms were expected to reach up to 3.09 billion by 2021.

Despite the many advantages social media platforms have to offer, there’s also a high chance of cybercrimes being targeted towards these platforms. When it comes to social media, users are more than willing to share sensitive information online, which many malicious third-parties are eager to exploit, as seen in the notorious Cambridge Analytica scandal.

Taking the dire threats faced by social media users, new technologies that can secure the digital world are always welcome with open hands. Next-generation social media platforms have already started to incorporate blockchain technology for the amount of control it offers to users over the data they generate.

Before we ...


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