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.
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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