Every year, usually near the end of the year, one can read vast predictions of social media. A few dozens, or hundreds, of bloggers will write a post promising to predict the future of social media. Most of these predictions are wrong. Some are partially right. And a few may hit the nail on the head.
Some predictions focus on long-term while others are more interested in giving the short-term view of social media.
The interesting thing, as I read the predictions about social media's bright, or dark, future, very few of them predict a convergence of social media and cryptocurrency. Or blockchain technology. That's about to change.
Why Cryptosocial Is the Future of Social Media
In order to understand the future, I think it's important to understand the past. In my upcoming book, Cryptosocial: Is Social Media Ready for Decentralization, I give a good running history of social media from Six Degrees to the latest Facebook and YouTube scandals. The developments have brought us to where we are today with Facebook dominating while teens are flocking to Snapchat and TikTok while young adults are hooked on Instagram and Snapchat. With video on the rise, it's possible that YouTube could overtake Facebook at some point as the leading social media platform, but I still think we're a few years away from that happening.
It's important to understand why people use social media to start with. First, they're on the platforms for the social. But crypto enthusiasts seem to think they can lure users with promises of earnings. It's not likely to happen.
There are those, of course, who will use cryptosocial media for the cryptocurrency. That's been proven. With the hundreds of decentralized social media projects either in current development or already launched, there is clearly a niche for the marriage between cryptocurrency and social media. A part of the allure, however, goes beyond the potential earnings of cryptocurrency and into a philosophical movement based on the benefits of decentralization. And millennials, for the most part, are driving it.
Millennials are the largest living generation and represent huge buying power. As Baby Boomers grow older, retire from the job market, and pass their wealth to the next generation, millennials will emerge as the most powerful generation. We may have a millennial president sooner than you think.
The values of the millennial generation will drive the future of social media. And what are those values?
- Millennials are the most tech-savvy generation in history
- They are concerned about the "greater good"
- Challenge the status quo
- They are socially conscious and value diversity
- Millennials value privacy and security
- They also value decentralization and peer-to-peer technology
The future of cryptosocial is not necessarily tied to the technology itself. Rather, it's tied to the people who are more likely to use it and are now experimenting with in great numbers: Millennials.
Posted from CryptoBloggers with Exxp : http://www.cryptobloggers.us/2021/08/26/is-cryptosocial-the-future-of-social-media/