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How Social Media Is Benefiting From The Technology Of Blockchain
Blockchain has been quite successful in grabbing the attention of tech leaders with its innovative & challenging features. Having initially been developed for cryptocurrency exchange, Blockchain has now come across a long way from merely to being implemented in almost every major sector.
Blockchain exhibits spectacular features like providing a secure, reliable and tamper-proof way of recording all the digital transactions and can be reliable for exchanging data. In this blog post let’s know how social media is being benefited from this distinct technology of Blockchain.
Impact Of Blockchain On Social Media:
- For Verifying Information & News-
If precisely used, Blockchain can play a crucial role in social media by accurately verifying the information & news. Speaking of social media you would be surprised to hear that Facebook is among the most predominant user of Blockchain technology for a wide range of applications. Facebook is using Blockchain technology for digging into and deleting false accounts that have been posting fake news across their social platform.
By making use of the distributed ledger system of the technology all this can be made possible & it might seem pretty effortless.
- Blockchain Can Be Used For Better Control Mechanism-
One among the major concerns across social media domain is the control mechanism. It’s quite evident that every social platform makes use of abundant levels of data which is created by the users while updating their status, posting on the groups, sharing a post from some others profile, the location they visit & more. This data plays a crucial role for displaying ads onto those niche profiles that are having interest in viewing the information which is being depicted in through the ads.
Blockchain comes quite handy in this regard mainly for the user point of view. It helps the users get control over the information like where it goes. It enables the users to decide which information to be share & which information to be blocked from being displayed to others.
- Enables Social Media-Based Crowd Funding & Improves Peer-To-Peer Sales-
Crowd funding is the latest trend which has attained a lot of hype. Crowd funding contributes to the growth of startups & as also helps in raising money for charitable cause. Through Blockchain implementations across various social media platforms, it will be of a great help for the crowd funding organizations for indulging privacy & transparency in the transactions & along with other tons of uses as well.
Interesting isn’t? The impact of Blockchain applications isn’t just limited to social media platform; there are several other areas as well which are being revolutionized by Blockchain. Get to know more about the major trends in the Blockchain technology by being a part of the Kelly Technologies Blockchain Training in Hyderabad.