The increasing popularity of blockchain and cryptocurrency is bringing a lot of opportunities to the business world.
However, there are still all sorts of other business benefits of blockchain and the industry surrounding it.
Social media, smart contracts, and decentralized applications all present possibilities for entirely new business models.
In this article, we will take a look at how these innovations will change the social media landscape as we know it today.
Social Media and Blockchain.
While many people in cryptocurrency might see ad bans on sites like Facebook, Google, and Twitter as a setback for the cryptocurrency market.
But this can also be viewed as a long-term market opportunity.
As anyone who is familiar with ICOs and cryptocurrency projects knows, there are already all sorts of emerging social media platforms that have benefited from crypto’s rising popularity.
Here are a few examples.
Telegram, which only launched on August 14, 2013, has already accumulated 200+ million monthly active users and has become a staple platform for successful crypto projects.
While Telegram, of course, is not solely focused on cryptocurrency, many of its users utilize this app as a form of communication between themselves and crypto project teams.
Steemit is an example of a platform that revolves around cryptocurrency.
In fact, because of Stemit's popularity in the social media world by having a unique tie to cryptocurrency makes it a very interesting platform for many.
By tokenizing content creators and curators, Steemit continues to attract more content creators and consumers to use its platform.
More details about this project can be found in this detailed guide.
It is very likely that more social media companies will build entirely new platforms around blockchain technology and cryptocurrency.
Some of these new businesses could very well compete and even surpass the popularity of today’s top social media platforms.
Chase Chappell is a serial entrepreneur and founder of Chappell Capital, a digital marketing agency.
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