Why are Social Networks like Facebook and Twitter moving towards blockchain? - page 2.

passwordnow

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Quote from: ethereumhunter on March 28, 2019, 01:47:47 AM

Quote from: passwordnow on March 27, 2019, 09:09:45 PM

Main reason technology. And it is one reason why it never stops and tech giants aren't stopping to adopt such new features and technology that they can adopt to their businesses. They are making themselves still on the trend so their users and customers won't be outdated but they won't just adopt a single technology that recently found if there's nothing that they can take advantage of it. A good technology such as blockchain will always be adoptable by any company that sees its potential.

Yes, of course. They are aware of the technology trend, and now, cryptocurrency has become a new trend which they can participate too. Besides that, they are big companies that can easily to join and trying to implement blockchain with their system. But still, there is a time for them to research and find out what will fits with their needs.

Blockchain is always at the tail or let's say along side with cryptocurrencies. If someone talks about cryptocurrency, expect that there's also a blockchain sub-topic with that conversation. And with these tech companies, they don't want to miss the opportunity while it's on fire. The upgrade might come overtime but as long as it's on the trend, they won't just let this pass without riding the popularity and opportunity that it has accompanied with.

romelitounknown

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Aside from everyones here were saying , I think it's about adoptation and scaling. More companies are already into blockchain and other should have to.

singlecrytpo

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Quote from: darylalban on March 28, 2019, 04:44:36 PM

All interesting points made. Both positive and negative. I am ready to see decentralized social media platforms and not KYC intensive centralized platforms. I have to agree with David Chaum in that article that it seems like Mark is utilizing blockchain as a PR hype since it's in the news now.

I feel that Jack has his heart in it a little bit more than Mark.
Facebook would do it for the PR and to rebuttle all their issues with privacy

darylalban

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All interesting points made. Both positive and negative. I am ready to see decentralized social media platforms and not KYC intensive centralized platforms. I have to agree with David Chaum in that article that it seems like Mark is utilizing blockchain as a PR hype since it's in the news now.

5thFear

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They are not doing it because they love it but because they need it. They now realize that the future is the blockchain so there is no point in not accepting this innovative technology so they have now decided to move towards it.

joeperry

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There's a lot of new technologies now and one of this is the blockchain most of the projects in the ICO today are using blockchain technology to have a decentralized system and of course it was spread all over the internet and now the social media might adopt the blockchain technology in order to have a decentralized platform.

But there's still question in my mind... How this would work?

Kevin77

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These companies rely on data storage waaaay too much, they have way to much information in their servers and it costs them a lot of money.

A company like youtube where people constantly upload videos and billions of people watch videos every single day just managed to make profit recently, they couldn't make any profit for a long long time because their server costs was other worldy. Hence, moving to blockchain for these social networks would mean they could potentially cut the server costs down a bit and use blockchain instead.

I know having everything you did on social media implemented on blockchain forever might sound like a daunting thing but these are business and they want to make a lot of profit and if something could make them a single dollar more profit they will take a look into it.

JohnMacZeppelin

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Probably because they are interested in the fact that you and I really believe in a miracle. I still hope that the blockchain and cryptocurrency will be able to win this fight for the championship. Therefore, I think that everything will work out.

aioc

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Quote from: jjbanks994 on March 27, 2019, 08:54:44 PM

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

That's because the hype has become a real thing, at first they all thought Bitcoin is like a tulip or the community is shilling Bitcoin, but after all these years they have proven that Bitcoin and blockexplorer are the real thing and here to stay, but I'm glad they are moving in.

Red-Apple

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Quote from: hayleewilson on March 27, 2019, 09:02:40 PM

If you understand blockchain well, you'll have an easy answer to that.

One answer I have in mind is, blockchain is seen by these social media giants as a powerful technology — powerful in a sense that it is decentralized. By being decentralized, it won't have to be controlled by any central authority or government. There will be reduced (to zero) taxes, easier transaction based on smart contracts, lesser manpower on the part of FB and TW (hence the huge money that can be saved).

Any visionary would see blockchain taking over most business transactions in the near future.

you have some good points but for the most part you are wrong.
first mistake is that you said "blockchain is decentralized". well it is not. it is just a technology and it can be used both centralized or decentralized. for example bitcoin is using it decentralized, XRP, ETH, the government coins like Petro of Venezuela, the coin of Indian gov., the Iranian coin,... are all centralized usage of blockchain.
second mistake is that you think these companies are using the "blockchain technology", they really aren't doing that. what they are doing is simply creating a centralized token for internal money transfers and they are doing that purely out of greed to make money because things are hyped up with this technology these days.
there will be no smart contracts, no decentralization, no innovation, ... there will only be a centralized database which might as well be like Paypal.

semes

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Quote from: jjbanks994 on March 27, 2019, 08:54:44 PM

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Blockchain is a great technology. Why they don't want. They will have a advantage with Blokchain. I guess Blockchain and social media apps very convenient to each other.

semobo

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Blockchain is something that can be implemented on anywhere so it is nothing wrong if the social media want to move to blockchain technology.They are just doing something like that how satoshi implemented blockchain into bitcoin way back.

Muzika

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Quote from: jjbanks994 on March 27, 2019, 08:54:44 PM

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Yes ofcourse their motives are always win win solution there is nothing to be worried about it, maybe the time that they dont want blockchain because they might resolving some issues first before they want to adapt it very well. It really helps the company when adapting the blockchain technology in many ways. And of course they are leading social media therefore they should adapt something new not only for the people but also for their own welfare.

Sacramentus

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Is it a bad idea for them to join the blockchain industry? They have analysed the blockchain and they see it as a huge step to take so they want in and to me it's really a good move to make. It will add to the development and popularity of blockchain

tippytoes

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Quote from: thesmallgod on March 28, 2019, 12:29:37 AM

Quote from: hayleewilson on March 27, 2019, 09:02:40 PM

If you understand blockchain well, you'll have an easy answer to that.

One answer I have in mind is, blockchain is seen by these social media giants as a powerful technology — powerful in a sense that it is decentralized. By being decentralized, it won't have to be controlled by any central authority or government. There will be reduced (to zero) taxes, easier transaction based on smart contracts, lesser manpower on the part of FB and TW (hence the huge money that can be saved).

Any visionary would see blockchain taking over most business transactions in the near future.

I agree with all your reasons except the decentralized one. Most social network will never want a situation whereby they do not have total control over their project. Take for example facebook. Facebook has become one of the social networks that have millions of traffic every hour. features such as ads are totally controlled by the team and this is the reason why you cant remove ads that are displayed on your timeline because that is their major source of finance

That's right. Though fb wants to integrate blockchain technology within their platform, somehow they will find a way how to have the full control of its usage. They realize that this technology will save them thousands and thousands of dollars in their operations, making them more profitable in the long run. And considering the number of active users on their platform, marketing will be an easy task for them.

ethereumhunter

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Quote from: passwordnow on March 27, 2019, 09:09:45 PM

Main reason technology. And it is one reason why it never stops and tech giants aren't stopping to adopt such new features and technology that they can adopt to their businesses. They are making themselves still on the trend so their users and customers won't be outdated but they won't just adopt a single technology that recently found if there's nothing that they can take advantage of it. A good technology such as blockchain will always be adoptable by any company that sees its potential.

Yes, of course. They are aware of the technology trend, and now, cryptocurrency has become a new trend which they can participate too. Besides that, they are big companies that can easily to join and trying to implement blockchain with their system. But still, there is a time for them to research and find out what will fits with their needs.

shoreno

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Quote from: Tipsters on March 28, 2019, 01:33:36 AM

Quote from: jjbanks994 on March 27, 2019, 08:54:44 PM

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Basically what is the main motive of this social networks? Simple blockchain is a good source of income and profit. I know Mark Zuckerberg, hate cryptocurrency but he knows that the crypto can probably increase by more than 100x fold the income of his social network. Imagine facebook users on the whole world will probably be interested in his coin or token once he decide to make one.

he hates crypto but why he would create a crypto ? if its for the income purposes , well mark z is already wealthy from facebook alone that is why i dont think that he will enter the crypto scene rather he will only be using blockchain to integrate with thier service because also see the potential of blockchain . blockchain isnt all about crypto , i dont know if you are already aware with that .

Tipsters

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Quote from: jjbanks994 on March 27, 2019, 08:54:44 PM

https://bitcoinexchangeguide.com/why-are-social-network-juggernauts-facebook-and-twitter-moving-towards-blockchain-technology/

I really would llike to know why social networks are all of a sudden just now wanting to implement blockchain. Should we trust their motives?

Basically what is the main motive of this social networks? Simple blockchain is a good source of income and profit. I know Mark Zuckerberg, hate cryptocurrency but he knows that the crypto can probably increase by more than 100x fold the income of his social network. Imagine facebook users on the whole world will probably be interested in his coin or token once he decide to make one.

slaman29

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Because they are afraid of becoming the next MySpace. A first mover, but slow and not moving to the preference of users, who always want the latest trends, whether it is correct or not really correct.

Blockchain is the baby of the current generation in technology. If you're not doing blockchain, you're not keeping up with the times. It will become a thing of the past, once blockchain becomes the mainstream.

Bttzed03

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They are huge businesses and it is only wise decision for them to integrate blockchain technology into their platform to adapt to the changing market. You don't want to be left behind if you're a businessman.

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