Decentralization – The Future of Social Media Applications
A crypto decentralized social platform has a number of beneficial applications and has the potential to ease out the user pain points while fostering valuable interactions on social platforms.
Data from various surveys conducted in the last five years has shown a consistent downward trend in the number of new social media profiles and users since the inception of mainstream social media platforms. It is quite clear that more and more people are choosing to abandon social media platforms and the main reason for this trend has been attributed to the general mistrust of platform owners.
Users are increasingly becoming aware of the amount of data they are inadvertently sharing over the internet. This excessive sharing of personal information is giving immense power to single entities over the way users’ information is utilized.
A majority of the social media profiles connect a user’s email address, phone number, and other personal identification markers. It is common knowledge that wherever there is sharing of data and sensitive personal information, there is scope for breach. Recent occurrences wherein sensitive user information online was breached on popular platforms like Facebook, Twitter, and more necessitated the creation of a system that can provide the benefits of social media while protecting user data.
With the growing inclination towards crypto social media app development, which is a major move toward decentralized application development,the power is slowly shifting back in the user’s hands.
Can Decentralized Social Media App Development Sustain Marketing Requirements?
An essential aspect of social media marketing involves accessing user information to provide personalized content to customers. Marketers use this facility to connect users with their choice of products and improve the conversion of ads for companies.
Without the access to data, the marketing sector could lose billions of dollars on marketing products to the wrong segment and getting no return on investment. At the same time, users could be left devoid of the option of coming across products of their choice online. How then can we have a legitimate system that builds a more secure brand of social network, minus the negative features of current social media platforms? Blockchain and decentralized social media app development could be the answer.
Blockchain, facilitated through cryptography, is favoured by everyone around the world for its transparency and decentralization. Blockchain database is authenticated by a wider community, as against one central authority present on current social media applications. The technology can provide control of personal data to individual users, while still allowing marketers to deliver targeted ads. Decentralized application development is gaining mass approval and being heralded as the harbinger of a new era. This leads us to explore ways in which decentralized social media app development is improving social networks.
Here are some reasons why:
- Doing Away with the Centralized Bias
Currently, the government has the authority to censor the social networks like Facebook, Twitter, etc. if the content on them is seen unfit for general public. At the same time, social media companies have complete control over the kind of content to be displayed on their platform and in which direction to take the consumers on their site.
Crypto social media app development will take out the centralized bias and oversight. It will make social media networks highly transparent and initiate an algorithm based on peer-to-peer interactions. Decentralized application development will depend on unique code creation as the identifier of a profile rather than personal information. The user will be able to choose what information to release to the network.
- Eliminate the Need for Intermediaries
It is a common occurrence that consumers on a particular social media platform are victims of fraudulent ads and malware attacks. This happens because in an attempt to give access to data to third-party tools for marketing purposes, the data gets into the hands of online scammers as well. A decentralized social network developer is mindful of this flaw and takes care of it during decentralized application development.
A crypto social media app development creates a direct connection between business and consumer. With the help of this system, marketers are able to validate their own data without relying upon third party tools and middlemen. As a result, marketers get accurate information and real consumers view their ads.
- User Information is Not the Product in a Decentralized Apps
Social media platforms contain a wealth of information about users and the sites sell this information to the highest bidder to enable them to market their products. However, the bidder could be anyone – from hackers to government sponsored agencies. In this system, the user information becomes the commodity that is sold in exchange for money without the consent of the users.
In the case of decentralized application development, the users and content creators have the right to their information and stand to directly benefit from decentralized social media.
- Giving Cryptocurrency Incentives to Users in Exchange for Their Data
Cryptocurrency is an excellent incentive that can be introduced in the interactions on crypto social media platforms. With the removal of middlemen who sell user information to third parties, users can themselves exchange their information to blockchain node hosts in lieu of cryptocurrency. Marketers can approach users and ask them if they would prefer sharing their data in return for cryptocurrency. This financial incentive can be another reason for users to return.
- Tracking Influencer Payments
Blockchain technology can be used to verify an influencer’s real audience and differentiate it from the bots to get an accurate view of their work and calculate real time payment. The app can also track user interactions with the influencer on their posts and automatically calculate a fair compensation.
- Improvement in ROI for Marketers
A decentralized social media application development can be made to identify real profiles from fake. This information is especially useful for marketers as they have a concentrated database of real buyers that they can target with their advertisements. With this, marketers can get a clearer picture of how their advertisements are performing online, track consumer behavior, and experience greater ROI by implementing strategies based on real data. Thus, decentralized application development can guarantee better leads to the marketers.
A Decentralized Social Media is Not Only Beneficial for Users, But Also for Marketers
It increases the trust of users on such platforms, helps create better influencer marketing campaigns, and improves the ROI generated through marketing efforts. In today’s day and age, users are demanding a command over their data and how to use it. As awareness about the rights to user information increases, decentralized application development is the only way forward for social media.
Not to mention, the potential income they generate from this control. A crypto decentralized social platform has a number of beneficial applications and has the potential to ease out the user pain points while fostering valuable interactions on social platforms.