Blockchain in Social Media: Eliminating Centralized Control vs. Challenges

Abstract

Blockchain has expanded beyond the concept of digital currency becoming essential to existing and emerging markets and digital practices. Today, Blockchain technology represents the most well-known decentralized technique, that has been considered in developing the new generation of decentralized social media platforms. This paper focuses on the alternatives of the centralized and profit-driven platforms: open-source and Decentralized Online Social Networks (DOSNs). Firstly, we give an overview of our topic of concern, explaining the main concepts and trends in the field. Then, we shed light on the opportunities and challenges of Blockchain in social media by emphasizing the main features and outcomes. We conclude that Blockchain encourages the exchange of reliable data and information on social media. It is a potential infrastructure that ensures better privacy and a prospective approach to deliver more actions with smart contracts and applications.