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How the Snapchat struggles could be solved with Blockchain

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A Snapchat banner hangs on the front of the New York Stock Exchange on Friday, June 16, 2017. (AP Photo / Richard Drew)

Reporting & nbsp la fall of the social media giant and pioneer, Snap & nbsp; is coming at a rapid pace, with the share price fall by more than 25% in less than a month.

recently admirable company continues to slow down the growth of product offerings for users, causing a decline in the user base from 192 to 188 million: Snap is losing talent throughout its business and faces the growing competition of other social media and giants of technology.

While all giant social media such as Facebook and Twitter are experiencing growth difficulties, Snap's year was truly unexpected: questions about investor structure and concerns raised about changing plans The income points directly to the blockchain technology as a possible break point.

Censorship on social media

The United States is currently in a battle for censorship, one in which social media giants like Facebook and Twitter are censoring users and posts as they see fit. This came to the head when radio host Alex Jones was recently censored on most major social media for what they claim is a violation of their policies of unscrupulousness and bullying.

Other types of censorship that are evident in the sector imply the deconsolidation of users a particularly widespread practice on platforms based on content such as YouTube. This demonetization occurs when a social media company takes away the ability for a content creator to monetize from their content through advertising, typically because the material is deemed too controversial or explicit.

Snap finds himself in the midst of a dilemma of censorship after stopping Al-Jazeera's account in several Gulf nations. This seems to be a strange scenario, given that Snap is a company based in the United States. Yaser Bishr, executive director of the digital Al-Jazeera, noted "The fundamental question is: how could a US listed company that represents freedom of speech in which access is social media a right constitutional act, denying these rights to others? "

The censorship of this variety is questioning the ability of social media companies to control freedom of speech and the opening of markets in unconstitutional ways. While there are many different opinions on this subject, one thing is clear, these social media giants have gained so much power that they are able to take control of their users in ways that are troubling.

New models of governance

The latest evolution of blockchain-based social networks operates according to a decentralized governance model that provides adequate incentives for users to align them with other stakeholders in order to disrupt the entire industry .

This ideology has given rise to a new type of organization known as a decentralized autonomous organization (DAO) in which no centralized party controls the company and decisions are left to the 39; whole network. This takes away power and control from central entities.

Alessio Quaglini, Managing Partner of HEX Capital Group observes: "Blockchain and other decentralized technologies give users the last word, stabilize the system, reduce structural asymmetries and provide economic incentives to users From proof-of-work (Bitcoin) to proof of participation (Ethereum) to third-generation protocols such as EOS using delegated participation tests, the industry is constantly tested, improving and iterating to find the most effective methods of governance. for any kind of decentralized organization. "

The government has a number of roles for the public; as a registrar, facilitator and legal mediator. If government records have a vulnerability, are kept in obsolete and unreliable systems and can not be reproduced, the public has a lot at stake.

Blockchain is one of the few technologies that can be applied to replace obsolete and unreliable systems with new levels of security and cryptography that provide value and benefit to government institutions but also to the main general route. Public institutions and processes can be resistant to change for a variety of reasons, such as lack of funds to implement systems, reliance on legacy systems and general fear. However, government processes must be reliable, solid and secure, for the reasons mentioned above. & Nbsp;

"It is very important to launch several successful projects using blockchain technology in the public sector," says Sasha Ivanov, Founder and CEO of Waves Platform and Vostok project . "The most obvious application of blockchain technology consists of public registers, such as real estate, intellectual property rights and other types of contracts.

" The implementation of blockchain technology in public services would be a decisive step. towards the mass adoption of blockchain and would provide insurmountable value for the general public through the government, "believes Ivanov

This decentralized model provides an economic reward for users of a social media platform that big companies like Snap and its social media counterparts can not contest: Users are paid in cryptocurrency for the use of a social media platform, and therefore have a much greater incentive to attract the rest of their network to the platform and support the its continued growth.When you are dealing with the use of a social network in which there is an economic incentive compared to a network that collects and sells user data, users will probably try to use platforms that offer maximum benefit for themselves.

Ownership of a Decentralized Identity

One of the scariest things for consumers and a barrier to growth for social media companies has been the security concerns surrounding digital identity. The creation of decentralized identity identification networks in conjunction with biometric verification is proving to be a more promising solution than the current options for consumers and businesses.

An example of this technology is Metadium a blockchain-based society that creates a decentralized identity protocol to give individuals complete control over their digital identity. Because Metadium stores the root hash of a merkle tree on its blockchain, users can disclose information to third parties via the hash root whenever desired, all without putting personal data at risk of be compromised.

At the same time, the blockchain stores requests to retrieve personal information, making it easy to determine exactly when and who is attempting to steal or manipulate data.

These solutions give users greater security over their online identity and create social networks in which user identities are not challenged.

Blockchain-based social networks

"The potential of a cryptocurrency within a widely-used messaging app or social app is huge," says Sarah Austin, influencer blockchain (Forbes under30) and CMO al SONchain [19659013] "The adoption of a cryptocurrency could guarantee Snapchat the independence from banks, investors and even talents who believe the company is responsible for the benchmark of revenue dependent on advertisers. Crypto offer apps freedom from advertisers. "

While it is still the beginning of the evolution of blockchain-based social networks, there are already several projects that attract users. Mithril encourages all creators of content through a process that defines "social mining", which rewards users through a decentralized network and can expand to incorporate new social media platforms.

Sphere is another decentralized social network that plays back most of the features of Facebook, but without the security and identity issues, users now have the Cambridge Analytica company scandal. Diaspora allows users to choose where to store their personal data in what they call "pod", where each pod is managed and managed in different physical locations and by different stakeholders. This gives users even greater control over their personal data and information than ever before.

Moving to a decentralized world

It is clear that Snap is struggling to continue to grow its business in a technology climate that is moving away from centralized business entities and their decentralized counterparts. This change is not only technological but also psychological and ethical, with decentralized entities that mitigate the risks of censorship and identity security through their platforms.

Snap fortress and his company brothers seem to have on the social media industry that seem to slip by the day.

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A Snapchat banner hangs on the front of the New York Stock Exchange on Friday, June 16, 2017. (AP Photo / Richard Drew)

Report of the fall by The giant of social media and pioneer , Snap are coming at a rapid pace, with the company's share price declining by more than 25% in less than a month.

The newly admirable company continues to falter in the growth of its product offering for users, causing its user base goes from 192 to 188 million euros and Snap is losing talent throughout its business and faces the growing competition of other social media and technology giants.

While all of the social media giants like Facebook and Twitter are experiencing growth difficulties, Snap's year was truly unexpected. Questions about investor structure and concerns raised about changing income plans directly point to blockchain technology as a possible break point.

Censorship on social media

The United States is currently in a battle for censorship, in which social media giants such as Facebook and Twitter censor users and posts as they see fit. This came to the head when radio host Alex Jones was recently censored on most major social media for what they claim is a violation of their policies of incitement to hate and bullying.

Other types of censorship that are apparent in the field imply dis-monetize users a particularly widespread practice on content-based platforms such as YouTube. This demonetization occurs when a social media company takes away the ability for a content creator to monetize from their content through advertising, typically because the material is deemed too controversial or explicit.

Snap finds himself in the midst of a dilemma of censorship after stopping Al-Jazeera's account in several Gulf nations. This seems to be a strange scenario, given that Snap is a company based in the United States. Yaser Bishr, executive director of the digital Al-Jazeera, noted "The fundamental question is: how could a US company listed on the stock exchange and representing the freedom of speech in which the & # 39; access to social media is a constitutional right, denying these rights to others? "

The censorship of this variety is questioning the ability of social media companies to control freedom of speech and the opening of markets in unconstitutional ways. While there are many different opinions on this subject, one thing is clear, these social media giants have gained so much power that they are able to take control of their users in ways that are troubling.

New models of governance

The latest evolution of blockchain-based social networks operates according to a decentralized governance model that provides adequate incentives for users to align them with other stakeholders in order to disrupt the entire industry .

This ideology has given rise to a new type of organization known as a decentralized autonomous organization (DAO) in which no centralized party controls the company and decisions are left at the 39; entire network. This takes away power and control from central entities.

Alessio Quaglini, Managing Partner of HEX Capital Group observes: "Blockchain and other decentralized technologies give users the last word, stabilize the system, reduce structural asymmetries and provide economic incentives to users From proof-of-work (Bitcoin) to proof of participation (Ethereum) to third-generation protocols such as EOS using delegated participation tests, the industry is constantly tested, improving and iterating to find the most effective methods of governance. for any kind of decentralized organization. "

The government has a number of roles for the public; as a registrar, facilitator and legal mediator. If government records have a vulnerability, are kept in obsolete and unreliable systems and can not be reproduced, the public has a lot at stake.

Blockchain is one of the few technologies that can be applied to replace obsolete and unreliable systems with new levels of security and cryptography that provide value and benefit to government institutions but also to the main general route. Public institutions and processes can be resistant to change for a variety of reasons, such as lack of funds to implement systems, reliance on legacy systems and general fear. However, government processes must be reliable, solid and secure, for the reasons mentioned above.

"It is very important to launch several successful projects using blockchain technology in the public sector," says Sasha Ivanov, founder and CEO of Waves Platform and Vostok project . "The most obvious application of blockchain technology is public records, such as real estate, intellectual property rights and other types of contracts.

" The implementation of blockchain technology in public services would be a decisive step towards the mass adoption of blockchain and would provide insurmountable value to the public through the government, "says Ivanov

This decentralized model provides an economic reward for users of a social media platform to which large companies like Snap and its social media counterparts can not contest: Users are paid in cryptocurrency for the use of a social media platform, and therefore have a much greater incentive to attract the rest of their network on the platform and support its continuous growth when dealing with the use of a social network in which there is an economic incentive compared to a network that collects and sells user data, users will probably try to use the platforms that offer the maximum benefit for themselves.

Ownership of a Decentralized Identity

One of the scariest things for consumers and a barrier to growth for social media companies has been the security concerns surrounding digital identity. The creation of decentralized identity identification networks in conjunction with biometric verification is proving to be a more promising solution than the current options for consumers and businesses.

An example of this technology is Metadium a blockchain-based society that creates a decentralized identity protocol to give individuals complete control over their digital identity. Because Metadium stores the root hash of a merkle tree on its blockchain, users can disclose information to third parties via the hash root whenever desired, all without putting personal data at risk of be compromised.

At the same time, the blockchain stores requests to retrieve personal information, making it easy to determine exactly when and who is attempting to steal or manipulate data.

These solutions give users greater security over their online identity and create social networks in which user identities are not challenged.

Blockchain-based social networks

"The potential of a cryptocurrency within a widely-used messaging app or social app is enormous," says Sarah Austin, influencer blockchain (Forbes under30) and CMO al SONchain [19659067] "The adoption of a cryptocurrency could guarantee Snapchat the independence from banks, investors and even talents who believe the company is responsible for the benchmark of revenue dependent on advertisers. Crypto offer apps freedom from advertisers. "

While it is still the beginning of the evolution of blockchain-based social networks, there are already several projects that attract users. Mithril encourages all creators of content through a process called "social mining", which rewards users through a decentralized network and can expand to incorporate new social media platforms.

[1945902] Sphere is another decentralized social network that mimics much of Facebook's functionality, but without the security and identity issues, users now have after the Cambridge Analytica scandal company. Diaspora allows users to choose where to store their personal data in what they call "pod", where each pod is managed and managed in different physical locations and by different stakeholders. This gives users even greater control over their personal data and information than ever before.

Moving to a decentralized world

It is clear that Snap is struggling to continue to grow its business in a technology climate that is moving away from centralized business entities and their decentralized counterparts. This change is not only technological but also psychological and ethical, with decentralized entities that mitigate the risks of censorship and identity security through their platforms.

Snap fortress and his company brothers seem to have on the social media industry that seem to slip by the day.

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