Facebook and Twitter will soon be obsolete thanks to blockchain technology
On Web2 — Twitter and Facebook — users do not own their own content or subscribers. This is not the case on Web3, where our corporate supervisors will become powerless.
Opinion
Today's social media landscape is dominated by Web2 companies, primarily Meta (Facebook) and Twitter. Companies collect data from billions of users and raise billions of dollars in revenue through user-generated content. While this is great for companies and their shareholders, it comes at a cost for average users and professional content creators.
But in the near future, decentralized social media - or Web3 - will likely end this old model by empowering users again.
No more kicking out unruly usersBecause platforms such as Facebook, Instagram, and Twitter are centralized, users are at the mercy of business leaders, who demand compliance with their platform's policies. If users don't comply, they can lose content and followers they've taken years to accumulate in seconds.
A famous example is the Twitter ban of former President Donald Trump. While you can debate Trump's views, Twitter's leadership decision didn't include the millions of Twitter users who make the platform so valuable. This showed how little control Web2 users have over Twitter's decisions about their content, even though they are the ones creating value for the company.
The beauty of Web3? Business owners will no longer be able to dictate who is allowed to use their platforms.
Another problem with Web2 social networks? Enclosed gardensAnother problem with Web2 social networks is that they are characterized by "walled gardens". If you have 1 million followers on Instagram and want to create an account on YouTube, you should start with zero followers. There's no way to move your audience because they're connected to the individual platforms, not you. This even applies to platforms owned by the same company, such as Facebook and Instagram.
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On Web2 — Twitter and Facebook — users do not own their own content or subscribers. This is not the case on Web3, where our corporate supervisors will become powerless.
Opinion
Today's social media landscape is dominated by Web2 companies, primarily Meta (Facebook) and Twitter. Companies collect data from billions of users and raise billions of dollars in revenue through user-generated content. While this is great for companies and their shareholders, it comes at a cost for average users and professional content creators.
But in the near future, decentralized social media - or Web3 - will likely end this old model by empowering users again.
No more kicking out unruly usersBecause platforms such as Facebook, Instagram, and Twitter are centralized, users are at the mercy of business leaders, who demand compliance with their platform's policies. If users don't comply, they can lose content and followers they've taken years to accumulate in seconds.
A famous example is the Twitter ban of former President Donald Trump. While you can debate Trump's views, Twitter's leadership decision didn't include the millions of Twitter users who make the platform so valuable. This showed how little control Web2 users have over Twitter's decisions about their content, even though they are the ones creating value for the company.
The beauty of Web3? Business owners will no longer be able to dictate who is allowed to use their platforms.
Another problem with Web2 social networks? Enclosed gardensAnother problem with Web2 social networks is that they are characterized by "walled gardens". If you have 1 million followers on Instagram and want to create an account on YouTube, you should start with zero followers. There's no way to move your audience because they're connected to the individual platforms, not you. This even applies to platforms owned by the same company, such as Facebook and Instagram.
Related:
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