Bitcoin, Crypto currency, Blockchain

Social Media giants get Blockchain-competition

Content Creators migrate increasingly to blockchain-based counterparts of Facebook and YouTube. Steemit, DTube, and LBRY curls with new payment models, and new audience. Through this migration the quality and quantity of the available posts rises to the new Alternatives. It makes the networks for new users more attractive.

Facebook and YouTube are the snows of yesterday

Steemit is a social network, in the user for your Content to be paid directly. The Steemit-own crypto-currencies Steem Dollar and Steem Power. How this network works, we have explained here. There are now about a Million Steemit Accounts. In comparison to Facebook, this is little; to 120,000 new registrations in March 2018 however bear witness to a rapid growth.

The Blockchain platform DTube is based on YouTube and is designed for Video Content. DTube uses as well as Steemit the STEEM-Blockchain. Accordingly, users are paid for their activity in Steem Dollars. Clips advertising before the Videos, as in YouTube there is not. An example of the DTube-success is the YouTuber “Furious Pete“. His Videos on weight lifting, and eating consequences of almost five million people on YouTube. A part of his Videos, it still seems to exclusively on DTube.

LBRY is a platform for movies. Artists present their work directly to the audience. The idea behind LBRY is that artists can market their works without a assign intermediate platform such as Netflix or Spotify, the control over the payment. On LBRY about 600,000 users are now registered.

Reasons for the success of the networks

Steemit, DTube, and LBRY have one thing in common: they offer their users a fair and transparent payment model. The big competition device, however, is increasingly in the cross fire of the critics, for example, due to the distribution of advertising revenue through YouTube. The data scandal Cambridge Analytica motivated in addition, many users to leave Facebook. The competitors benefit.

Evaluation

That the Mainstream platforms dispense with the trade data of their users is unlikely. Steemit and DTube allow, however, passive users an income. This is because not only of its own Content, but also comments can be paid by other users with an “Upvote”. Even members who contribute to it in a later popular article like (and thus its popularity), will get a reward. In contrast to Facebook and Google users earn money for their data and activity. Dan Novaes, co-founder and CEO of the Streaming service Current, says:

“Up until now, I don’t think people have realized how valuable your personal data. […] With the Blockchain, people have the opportunity to be for your time, attention and data paid. Your valuable data is no longer controlled by a few huge corporations.“

It also speaks for the Social-Media services on the Blockchain-based, they are prone to censorship. Bad posts will be punished by the Community, but cannot be removed from the Blockchain. Accordingly, the platform itself has no ability to delete posts. In repressive political systems, is a strength. In embarrassing Posts after a few glasses of beer in the can ready to go, however, to the rear. Therefore, and this is true not only for the Blockchain: think First, then write.

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