Although it’s debatable whether Cambridge Analytica actually did anything outside of Facebook’s Terms of Service, with regard to how the organization collected and utilized customer data, the #DeleteFacebook campaign is very real. Highly influential people have joined the bandwagon, including tech titan Elon Musk who took down the Facebook pages for Tesla and SpaceX. Facebook is a powerful, public organization and we can expect that they will survive this political dispute, fueled by people on the left in much the same way they survived the political dispute fueled by people on the right when it was accused of suppressing right-wing content in its list of trending topics and on people’s walls in 2016. While this controversy may have an impact on the company’s stock numbers and possibly may result in a temporary change in traffic, it creates an opportunity for other social media platforms to have a voice, particularly those that use, or plan to use blockchain technology.
Currently, there are a number of social media ICOs that are looking to raise funds for their ideas. Some will fail, some will make it, and some will succeed in a major way. If you’re looking at alternatives to the social media platforms that you’re using today, which utilize blockchain either as a way to organize data transparently, or to encrypt private data, or simply as a rewards system, then take a look at some of these ICOs to see what’s on the horizon.
SocialCxN is targeted at brands and retailers who want to utilize the power of influencer marketing. It’s a platform that allows them to organize and collaborate with content creators and distributors, utilizing blockchain technology to calculate marketing budgets and ROI, and analytics data to make intelligent recommendations.
Epocum is a platform that’s designed to provide a next-generation ad network for businesses that want to increase their traffic through social sharing. People who participate in this network will also have an opportunity to earn coins for their participation, using smart sharing contracts.
The iShook platform already has thousands of books listed within its ecosystem. The company is looking to increase visibility for content creators through blockchain technology, while improving the social reading experience. According to the website, they have a partnership with Gardners UK, a network that includes 12,000 publishers and 60,000 ebooks.
BuzzShow is a social networking website that uses blockchain technology to incentivize video production. Content creators receive tokens for creating, sharing and viewing videos on BuzzShow, so that everyone who participates on the network has an opportunity to earn. This reward-based social video network will be designed to utilize blockchain to provide users with full control and privacy.
SocialX supports social interactions within online communities by incentivizing them with crypto rewards. Users are able to publish photo and video content, or they may like other users’ posts and add comments. People may also “superlike” their favorite content to release tokens from the network’s available pool.
The company behind Webercoin, WebAd is building an ecosystem that’s targeted at businesses looking to market and advertise their goods and services. The technology includes geolocation to bring customers to nearby businesses.
None of these particular social media networks promise to have all of the functionality that Facebook has, or to solve all of its problems. But this is a starting point, and we may see more social media ICOs become available that are broader in scope.
Daniel is an experienced and dynamic entrepreneur with a demonstrated history of launching and operating successful businesses. Skilled in Business Strategy, Technical Consulting, Coaching, Sales, Entrepreneurship, Team Building, and Public Speaking.
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