We do see multiple fancy Blockchain use cases day in day out, definitely it’s good to see the number of growing use cases, but to gain adoption, do we have to focus on today’s problem statement or tomorrow’s imaginative potential problem statement?
IMO, verticals like asset tokenization, IOT, AI are not today’s problem.
To name a few of today’s problem,
- User’s privacy,
- Censorships,
- Demonetizing channels,
- ‘User’ data harvest,
- Data mining,
- Single point of failure etc.,
Current web’s predominant business model is, build a sophisticated platform, open it to public, market it to onboard users then finally sell their data to ‘potential’ customers who are in need of real data. #dataisoil
Being said that, the need of hour is to build a platform which gives back the ‘real’ freedom back to the users. Individuals/ Users are entitled to have a censorship free platform which neither monetize user’s data nor implant opinions (like Cambrdige Analytica). New gen web (like Elastos) and Blockchain based Social Media (like STEEM) are the two verticals that were closely working towards to solve today’s problem.
Data and Time is a commodity, users should be ready to pay money to use a platform and need to be paid back,
- To view advertisements in his/her ‘online world’. #TimeIsCommodity
- By ‘potential’ customers to use his data for mining purposes. #DataIsCommodity
This can be only possible in Blockchain, it will happen like
- User Alice opened an account in platform X. (pays some amount)
- Alice creates quality contents which draws attention from other platform users.
- Alice gets an option in platform X to choose the choice of advertisement in his feed and get paid for air/ view time.
- Alice contents were exceedingly good, as an influencer influences good number of following now Alice gets an option to write a Smart Contract to use his page/ feed to advertise products.
In my opinion, Social Media is one vertical where there cannot be multiple players coexisting together. A project which helps users to monetize their time (and creativity) and gives back them the ownership of data will emerge as clean winner.
Thanks for reading, see you until I see you..!