The blockchain technology has the capability to transform every industry. Find how a few companies are using blockchain to disrupt their markets.
It’s hard to imagine that a few decades ago the internet did not exist. There was no World Wide Web, Google searches, emails, or instant messaging. Within a six year time frame of the internet being used for commercial purposes, Amazon, Craigslist and eBay were born, the first video went viral, and the first online dating site, Match.com, was launched. We all know what happens next- the internet became unstoppable and there is not a single industry that it hasn’t shaken.
Most disruptive technologies follow a similar pattern, but not all emerging technologies have the ability of sneaking into every industry and completely altering the way the world works. History is repeating itself, except this time with blockchain. The best part is that blockchain solves some of the biggest issues that the internet couldn’t solve. Decentralization, privacy, and trust are at the core of blockchain technology.
Blockchain isn’t just appealing to cypherpunks, coders, or techies anymore. It is starting to become relevant to all kinds of industries. Many companies are finding ways to incorporate blockchain, most tech giants have already launched an ICO, and digital currencies and tokens are popping up in the most unexpected spaces.
Blockchain has undoubtedly disrupted the financial sector with the popularity of Bitcoin, but it doesn’t stop there. Most industries that would benefit from decentralized secure data storage have begun to adopt this technology – from law enforcement and travel to health and wellness. Marketing, online marketplaces, and content creation are a few of the more popular uses of blockchain technology.
Content creation and social networking on the blockchain
The appeal of blockchain for content creators is that they are able to operate on a user-centric platform, where support for the creator is measured by the users themselves, eliminating the need for third parties. YEAY is one company that is building upon the blockchain to allow content creators to profit freely without having to share their earnings with a middleman. The video commerce platform will be the first company to partner with WOM Token Ltd., to give people a new way to monetize their content. The WOM token will connect content creators on the YEAY platform with their favorite brands, and in turn lets brands source, track and reward fan advocacy using smart contracts. Thanks to blockchain technology, talented content creators are rewarded for their work in a transparent and efficient way.
Another good example of this is Synereo’s launch of WildSpark, a social network web app where content creators are rewarded in cryptocurrency for the content they generate. Writers, photographers, or any other content creators are able to publish their content and then users can show their support by instantly sending them cryptocurrency rewards. Synereo is using blockchain as a tool to liberate the attention economy and to reward content creators and consumers.