Jack Dorsey will no longer serve as CEO of Twitter. He will stay on to lead product strategy and his responsibilities around the Square IPO. The stock market is cheering the Cryptocurrency News and so are we.
Effects of Centralized Social Media Platforms on Society
Social media is not like before, once had the freedom to express your ideas on platforms without laws. Everyone was free to express what they want for freedom of expression of freedom of thought. But now, increasing regulations are putting pressure on social media users all over the world. It has become mandatory for everyone to be careful with what they say on these media outlets.
There is a problem in the social media industry and it is something that has been in discussion in different forums and in online groups: do we need social media in the future? Will there still be centralized platforms to gather people, or will they all disappear? Is decentralized social media an option to reconsider?
Brief OverView of Decentralized Social Media Platforms
Social media has flourished without any central controls or restrictions, but today we’re going over an introduction of some decentralized social media platforms on the rise.
The evolution of the internet as a medium of communication has led to a number of new social media platforms. In the early days of broadband, mainstream adoption was slow. However, as soon as social media became mainstream, a vast majority of end-users started sharing content over these sites. The web was invented to build connections and help humanity grow together. Yet because of a few big corporations’ unhealthy quests for profit, the purpose for which it was conceived was lost somewhere along the way. New social media platforms are here to restore humanity’s lost connection in cyberspace. A decentralised approach to social networking is the future.
A few decentralized social media platforms have come into the market recently. These are the platforms where the content is not controlled by any single entity or it can be controlled by anyone having enough stake. These are being implemented to fight the censorship issues encountered by the centralized social media platforms.
Decentralized social media platforms are on the rise. Most of these platforms are blockchain-based. There are many reasons for this new trend, but the primary reason is that decentralization provides users with more privacy and data control, which is the cornerstone of any social media platform.
The problem is that social media platforms are centralized, not secure, and are controlled by the platform itself. Decentralized social media platforms emerged to address these issues. Unlike traditional social media platforms, decentralized options are built using blockchain technology. This allows users to retain ownership of their data, control who can see it, and profit from it. Users are also not subjected to censorship by the platform operators.
Any Risk Involved In Decentralized Social Media?
The popularity of a decentralized social media platform is a double-edged sword. It allows users to promote their content and ideas without having to worry about censorship, but on the other hand, it makes it easy for users to spread false information and scam others. Decentralized social media also lacks some features that centralized social media has such as the ability to easily delete data such as posts and messages. These features make using centralized social media more convenient and useful than decentralized platforms.
It’s not really a disadvantage. It’s a matter of preference and different users like to associate with different types of social media. Both centralized and decentralized social media platforms offer their own advantages and disadvantages.
What Will Do Now Jack?
Crypto payment integration into decentralized environments can be a future plan for Jack Dorsey and his team. Jack Dorsey has recently tweeted on the Lightning Network that he is putting a team to work on the network with the goal of creating potential Free DeSo crypto tips for content creators. But, Jack’s plan may be more than just a payment network as it can provide a secure channel to connect with encrypted payments from everywhere.