Balkanization Of Social Media – Now Crypto Adoption For The Tech Giant?
Where’s The Freedom Of Choice?
There are many more Social Media Platforms rising up in opposition to the tech giants, where the users hope to get a modicum of free speech and privacy. Freedom of choice is sorely lacking on the oligarch's platforms as to what we can view. Apart from the recent deplatforming of certain high profile individuals, if Facebook doesn’t like a link to an exterior site, it will block it so it cannot be accessed from the platform. This has become all too common and causing much frustration among its users. We’re talking about innocuous topics like Dolly Parton, and even if some found it offensive, shouldn’t it be the users' right to unfollow, ban, or not visit that particular medium?
Personally, I don’t think any individual company will dethrone Facebook but it’s apparent that social media is balkanizing into a plethora of smaller platforms seemingly taking on the master hoping to get a huge chunk of the market. Many of these platforms need a hook to interest disgruntled users. Being built on Blockchain ensuring privacy, free speech, and autonomy is a very big advantage. This restores sovereignty and positions the platform on the next level to the reigning centralized social media of today.
Blockchain And Crypto Education Is Required
Education about Blockchain and cryptocurrency is much needed so the individual and society as a whole can make well-informed decisions as to what platform is best for their business and humankind in general. Over the next few years, this will happen and we will see a major shift in popular platforms. Cryptocurrency aligned with a company’s blockchain creates a complete ecosystem within the platform and as the coin is traded on the free market, this is essentially good news for the unbanked of the world making it possible to realize financial and personal freedom.
Blockchain technology provides new infrastructure to build the next innovative applications beyond cryptocurrencies. It'll drive profound, positive changes across business, communities, and society. Simply put, there is privacy, transparency and any data or information stays the ownership of the user, not the company where it can be sold or shared for profit. Any startup company in the social media realm will need to stay one step ahead of this evolving and revolutionary technology or get left behind.
To Blockchain Or Not To Blockchain?
Being on the Blockchain allows a company to create a coin or cryptocurrency, which creates an ecosystem within the platform. Many startups have failed, due to the fact there was nothing underpinning its coin or token, therefore after the hype and when the dust settles the coin plummets in value never to return. For the companies that have products and a plan on how to increase the velocity of its coin will stay ahead of the curve and are able to offer real rewards and income for its users. Then listing the coin on exchanges and the free market allows for liquidity and also further growth. This truly creates a legitimate income, not just coins or points sitting in your back office with no way to cash out.
What about Social Media Startups Not On Blockchain?
Then there are smaller social media platforms not on the Blockchain, promising free speech and even offering some sort of remuneration for inviting members to join, and if the member upgrades to a monthly subscription, residual income is possible in fiat currency for the inviter. Webtalk is one such company. As I recall when they first came on the scene, the hype around the company, especially on Facebook, was prodigious. Their membership grew and Alexa ranking at 26,000 which is amazing for a startup company in such a short time. They have since lost ground and are sitting at around 47,000. This is just one and there are many which prove to me balkanization and segregation are happening, but who will survive?
Call me lazy, but I find regularly visiting all these different Social Media sites on a daily basis makes my head spin. Generally, these platforms are vertical and are limited. They just don’t do or offer everything I need for branding to the fullest extent.
Facebook Wants In?
There have been mixed feelings and views about Facebook.s new coin, Libra, But here is what I consider to be the low-down. Facebook wants in. They have just recently published their Whitepaper regarding the Libra Coin. Many financial conglomerates have hopped on board, including Visa, Mastercard, and Paypal paying $10 million each. These validators stand to make a lot of money with the way Facebook will conduct business.
According to the author, futurist, systems architect, and thinker. Daniel Jeffries, The following explains how it all works;
“Libra is backed by a reserve of fiat money. That will work out to a beautiful ROI for the validators. Fiat money will flow in from all over the world as people change it out for Zuckbucks. The validators could hold that money, invest it, swap it and trade it. If they hold it in the traditional banking system the interest alone is enough to make their original $10 million dollars look like chump change.
In other words, the validators keep the interest and you get nothing.
Your Internet funny money won’t increase in value like many other cryptos, so you won’t get Interest and you won’t get new value. That’s because the Libra coin is designed to stay stable. It won’t swing wildly like Bitcoin and the other deflationary coins because it’s pegged to a basket of currencies, like the Yen, Dollar, Euro, and Pound, which means it inherits the inflationary monetary policy of central banks.”
Facebook’s whitepaper states it is on the Blockchain, but it is a non-blockchain Blockchain. With the research I’ve done it seems to me that this is just a glorified fiat currency with many unexplained promises that cannot be implemented in the true sense of decentralization, autonomy, and privacy. This is not a cryptocurrency. Although it claims to make a payment system easier and look after the unbanked, it’s a great way to track you even further where the companies and governments will know exactly what you’re doing.
To the loyal Facebook users who don’t care about their privacy or are unaware of the implications, they will love this, however, for the crypto enthusiasts who dream of creating a sovereign currency or self-sovereign money, away from the monopolies and corrupt manipulations, this is a disaster or maybe, could be, even a joke? Time will reveal all.
Will It Affect The Cryptocurrency Industry?
The Consumer Coin or Utility Token and decentralized blockchains probably won’t be affected, since they don’t really compete with the Libra Coin. Libra is for individual or organizations who are scared of everything and want something that is controlled, much like Ripple.
Decentralized blockchains, which are more secure, more censorship resistant are for the people and are long-term. Conglomerates want something where they can exert control and they can do that in Libra, but not in decentralized blockchains like Iota, Etherum or Markethive.
That’s where Libra can get corporations on board, but as soon as corporations understand blockchain and how it works, it’s quite possible they will transition into more decentralized blockchains eventually.
Notably, it has been said that Facebook’s Coin will create awareness to the masses about cryptocurrency so that in turn will be good for the crypto industry in general.
A Social Market Network On Blockchain Rises Up
About 4 years ago an Inbound Marketing company of 20 years, saw the vision and where things were heading. It started out on its journey to introduce the Blockchain into their system and subsequently their coin. The Markethive Coin (MHV).
The CEO of Markethive, Thomas Prendergast, passionate about Privacy, Autonomy, and Freedom of Speech says,
“Our collaborative community is founded for, as well as built, run and used by entrepreneurs and is self-governing, independent and sovereign by design. Our continuous objective and mission are to provide a social environment, complete with an arsenal of technology, that champions the rise of the entrepreneur. What to date has become the “norm” of social platforms having full access to your private and other data to use for their benefit is over. Your voice is yours, and yours alone, and you should benefit from it.”
Markethive’s culture is not fixed. It is a decentralized, autonomous, fluid environment which includes manifestations of intellectual achievements, social habits, innovation, music, literature, technology, commerce, and the arts. Integrated with state-of-the-art blockchain, cryptocurrency, inbound marketing, and decentralized database technologies, Markethive has constructed a social market network that provides a “Universal Income” created exclusively with entrepreneurs in mind. Markethive is a free system incorporated into a transparent blockchain system. The platform is completely decentralized delivering on Markethive’s principles of privacy, transparency, and free speech. Markethive does not spy on you; shadowban you; or terminate your account, for any reason.
Markethive Consumer Coin Explained
The Markethive coin will not be dependent upon speculative value as is the case with other cryptocurrencies and platforms, thereby creating eternal economic velocity in the entrepreneur ecosystem within Markethive. This is a fundamental difference to the other systems currently out there today. The Markethive system has been developed to produce revenue in the traditional sense with the added benefits of the blockchain taking it to the next level.
The Consumer coin, MHV, is being utilized within the Markethive exchange by way of airdrops and the faucet system which rewards associates using the platform, so the coin is used within the commerce of the system thus creating the velocity. The Revenue is a vehicle that is used to buy the Markethive coin back in the free market so it can be redistributed into the economic vortex of the system.
Continual Innovation and Endurance
Market Networks combine the best elements from social networks (such as Facebook) with top qualities of marketplaces (akin to eBay) plus a portfolio of software tools, SaaS, (as with Adobe), a complete inbound marketing system (comparable to Marketo) an autonomous video hub (commensurate with Youtube), a content curation & blogging platform (parallel to Steemit), an entrepreneurial business hub (similar to LinkedIn), a digital media site (much the same as Cointelegraph) a messaging system (resembling Telegram) but with a secure wallet built in.
Although still in Beta, Markethive is at present, operational executing infinity airdrops and micropayments (faucet) to its members. Its Alexa ranking is something to be noted, sitting at 25,654, at the time of writing, and continues to improve daily. Now is the time for accumulation of the coin prior to the Markethive Coin Exchange being rolled out soon. Meanwhile, build your business with incomparable reach to billions with Markethive’s cloud and broadcasting capabilities. There’s nothing like it. No hype or over-promising, just getting on with it in the Entrepreneurial way.
Markethive’s culture is one of Innovation, the DNA of our entrepreneurial ecosystem, inspiring and fueling its entrepreneurs through excellence. Although times, cultures, technology, politics, people, and economies change, the entrepreneurial spirit endures. The era representing the rise of the entrepreneur has arrived, while other organizations, inbound marketing providers, blockchain implementers, and cryptocurrencies are still frozen in time.
It’s become obvious that social media really has no choice but to become widespread with an emphasis on facilitating doing business, which means evolving into commerce-friendly Social Market Networks or risk becoming irrelevant.
Market Manager for Markethive, a global Market Network, and Writer for the Crypto/Blockchain Industry. Also a strong advocate for technology, progress, and freedom of speech. I embrace "Change" with a passion and my purpose in life is to help people understand, accept and move forward with enthusiasm to achieve their goals.