Blockchain
Social media would be better on a blockchain
In a previous column, I discussed how the big players in social media profit enormously from the value that ordinary users like you and I generate. These platforms have total control over the content we create, offering us little to no say in how it’s managed, and they can even revoke our access to our profiles. Consequently, all the revenue generated by our efforts goes straight into their coffers.
I mentioned Substack as an alternative with lower take rates, allowing content creators to benefit more directly from their work because it uses a common protocol—email—that isn’t controlled by any corporate entity.
Enter the Blockchain
There’s another protocol that’s also not controlled by a central entity—in fact, it’s specifically designed to avoid such control and to enable individuals to own and monetize their content: the blockchain.
Blockchain technology might seem complex, but it’s fundamentally straightforward. It uses cryptography to create unique “hashes” of digital data. A hash acts like a digital fingerprint for a set of data. A computer processes the data to produce a smaller set of bytes that uniquely identifies the original data. Even the slightest change in the original data results in a different hash, allowing one to prove that the original data hasn’t been tampered with.
Social Networks Meet Private Property
Blockchains incorporate these unique hashes into an immutable sequence of entries, or blocks. Each block verifies the next by containing a hash of the subsequent entry, creating a chain where any alteration is immediately noticeable and easily rejected through network consensus. This ensures the integrity of the entire blockchain. The public ledger thus created is unalterable and can be audited by anyone at any time.
Unfortunately, blockchain technology has garnered a negative reputation, often associated solely with cryptocurrency, volatility, and a “casino culture,” a term borrowed from Chris Dixon’s book, *Read Write Own: Building the Next Era of the Internet*. However, cryptocurrency is just a small part of what blockchain technology can do. Its real potential lies in enabling digital ownership of identity and content.
Beyond Cryptocurrency: Digital Ownership and Scarcity
Because blockchains can create digital uniqueness, they also enable digital scarcity. This is achieved through mechanisms like non-fungible tokens (NFTs), which assign a unique, non-reproducible identifier on the blockchain that can be controlled by an individual. Many people mistakenly view NFTs as just digital images for speculation, but NFTs actually enable true ownership of digital property.
Combine this concept with the creation of digital tokens that hold value, and the possibilities are endless. Tokens aren’t necessarily “money” but can represent various forms of value.
Imagine a Better Social Network
Picture a social network governed by code with rules that cannot be altered without the members’ consent. Every post and comment would be digitally signed and identifiable as yours, with the entire network and its content residing on a blockchain.
Such a network could issue tokens to members whose posts and comments generate attention and value. Members would reward tokens to creators they value, and developers who add new features would also be incentivized. If these tokens were redeemable for cash, it would create a robust ecosystem where everyone benefits from participation.
These decentralized social networks would be accessible to all, free from central control by private entities. They would be managed by the network members, with rules publicly defined and unchangeable without member consent.
Doesn’t this sound far more appealing than enriching corporate fat cats?
Source: infoworld.com
The post Social media would be better on a blockchain appeared first on HIPTHER Alerts.
Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
Digital Payment Gateway Market
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
The post Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users appeared first on News, Events, Advertising Options.
Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
-
Blockchain6 days ago
Pelican AI and Christie Capital Announce Launch of Brokered Financing
-
Blockchain Press Releases5 days agoBybit: A Global Favorite Among Full-Time and Professional Traders and the World’s Second-most popular Crypto Exchange
-
Blockchain5 days ago
Sportsbet.io Becomes New Title Partner of Snooker’s Players Championship, Tour Championship and Champion of Champions
-
Blockchain Press Releases5 days agoThe Moskowitz Law Firm, PLLC Announces Preliminary Approval of a Proposed Class Action Settlement on Behalf of Purchasers of Astrals Non-Fungible Tokens and Galaxy Tokens
-
Blockchain Press Releases6 days agoBybit Pledges RMB 5 Million to Support Relief Efforts Following Devastating Tibet Earthquake
-
Blockchain Press Releases7 days ago
Bybit & SignalPlus Unveil the 100,000 USDC Global Trading Showdown
-
Blockchain6 days agoBybit and Block Scholes Report: ETH Poised for a Rebound
-
Blockchain5 days agoFast, Secure, and Seamless: Bybit Card QR Pay Set to Transform Payments in Brazil
