Blockchain Tech Supports Social Media Positivity
Currently, post engagement boosts the exposure of the original poster alone. Cayman Island-based company Block.one’s new blockchain-based system is designed to incentivise positive feedback on social media – including comments, upvotes and likes – by sharing this visibility with others.
Social media posts are first verified via blockchain to ensure it’s an authentic and original work of the author. Users who wish to engage with the post then bid on it with ‘tokens’ recognised by the media platform the post is hosted on. The higher the bid, the more prominently the bidder will be featured on the original post, gaining exposure for themselves.
Though the patent was filed in May 2019 and approved in April 2020, it is currently unknown when this innovative system will become mainstream. It is likely to be first applied to Voice, Block.one’s social media network which is currently in Beta testing.
As social media sites come under more scrutiny for damaging users’ mental health, it’s likely we’ll see Block.one (or an imitator’s) technology taking off on popular platforms such as TikTok and Instagram. Transactional interaction is one possible future for helping consumers maintain a more balanced and beneficial relationship with social media; see Digital Detoxification for more initiatives promising a healthier technological future.
While designed to encourage beneficial interactions on social media, this new system could potentially be used to monetise posts for content creators – a theme we will explore further in Decentralised Society, publishing on May 27.