Whether you like it or not, blockchain technology is shifting social media dramatically. It is changing the way people interact and do business on every social media platform. Blockchain technology is more than just a trend, it is an impending shift that brings with it dramatic change. As the social media platforms evolve with the shift toward digital currencies, people must make the decision to get on the bandwagon. Influencers, marketers and even just the average Joe, must embrace the evolution or get left behind. So, what does this mean for social media? It means that blockchain technology has a few surprises up its sleeve. Here are a few ways that blockchain technology is changing social media in 2018.
Transaction Transparency
Influencer outreach is a booming business right now, and it is specific to social media platforms. Big brands and companies do take on a massive amount of liability utilizing influencer outreach, but the huge return on investment is enticing enough to overshadow the risk. This leaves a lot of room for deception and thousands of dollars are lost daily to overzealous or just downright deceptive practices. Blockchain technology brings transparency in the digital marketplace, also making room for trust. Influencers can build credibility with the transparent transactions which also allow brands to more effectively measure their returns.
Secure And Measurable
Blockchain technology is secure and measurable. Its transparency is not only apparent in currency transactions but in all digital technology with which it is involved. Many problematic advertising barriers will be removed so that brands can collaborate more effectively with their influencers. Influencers, in turn, must rethink how, when and where they share content. Efficient planning and transparency will expose those who utilize black hat tactics or who tend to be overzealous free thinkers putting themselves in positions they aren’t ready to handle. This will save brands huge advertising and marketing dollars while increasing an already massive return on investment. Influencers will be forced to educate themselves in blockchain technology or forfeit their efforts.
Mainstream Verification
Blockchain technology allows and even demands verified online identities which is of benefit to almost everyone. Businesses want to connect with consumers who have had their identities verified and vice versa. This will help rid the social media platforms of those pesky bot problems that complicate marketing strategies for genuine businesses. A verified marketplace is a virtual goldmine and it is possible with blockchain technology.
Blockchain Enabled Social Media
The prospect of blockchain enabled social media platforms is enticing indeed. What of the exciting possibility to earn a small amount of cryptocurrency for interacting on social media platforms. Think of the time you already spend on Facebook or Twitter. How much more compelling would these activities be if you could earn small amounts of currency for your time? This is a massive market just waiting to be penetrated. Think of the possibilities this brings. All the major corporations already have.
Currently, popular social media platforms are ripe for the picking of blockchain technology and there have been many new social media ICO’s coming out every day. The prospect of verified information and the traceable spread of data can help put a stop to the spread of fake content. Spambots will no longer be able to throw a monkey wrench in a marketing strategy without recourse. Certifiable identities and information will chain the entire structure of social media and every platform it reaches. The lure of hiding behind a computer screen will no longer be untraceable. Verifiable, transparent, traceable data and identities will completely overhaul the way information is exchanged on social media.
