Blockchain technologies and social media : a snapshot

Abstract

Facebook has proposed to integrate the cryptocurrency 'Libra' into its services, a plan which has been heavily discussed in science, business and politics. On Steemit.com one receives a tradable-token namend Steem in return for writing popular articles or post comments while at Wildspark.me one is rewarded for discovering the next big YouTube video. This shows that Blockchain technologies have an undeniable influence on the development of today's Social Media Networks. On the one hand, we have the technology hype around Blockchain and what kind of new applications are made possible, and on the other hand, the speculation hype around digital tokens (cryptocurrencies) and new forms of investment (ICO, STO), which have in turn resulted in a large number of start-ups in the Social Media and Blockchain sector. Start-ups and products, which quite often disappear from the market in a relatively short time. This paper provides a Snapshot, how Blockchain technologies could influence established Social Networks and gives an overview of known start-ups and their platforms which facilitate Blockchain technologies (like Steemit, Social X, Obsidian, Indorse, Sola, HyperSpace, Ardor.rocks a.s.o.). Finally, a discussion on how Blockchain technologies can be used beyond speculation is provided.