The future of everything.
Leveraging Blockchain Technology
The Blockchain is among the most disruptive technologies of the 21st century. This is because Blockchain technologies are not just an improvement to existing systems. Rather, the Blockchain is an entirely new innovation that is profoundly revolutionizing modern life.
This is because it provides a way for most of the digital operations today to be decentralized and be free from the absolute control of centralized third-parties.
A decentralized system
Because of how new and complex the Blockchain is, there is still limited consensus over its definition. However, the Blockchain is essentially an immutable, public ledger that is distributed across several computers in a decentralized network and secured cryptographically.
This distributed ledger is used to record and store transactions in “blocks” that are interconnected to each other in a “chain.” The Blockchain is referred to as “immutable” because once a transaction is recorded in a block, it cannot be modified to reflect different information.
This is because every transaction done on the Blockchain must be verified and validated by ALL the computer nodes in the decentralized network. This makes it difficult for unscrupulous parties to edit information in order to defraud people as any transaction block outside the authentic chain cannot be authorized.
It is because of this automated consensus system that the Blockchain makes decentralization possible. Transactions in the network do not need any centralized, third-parties to be completed and so peer-to-peer transactions are made possible. Integrating Social Media with Blockchain Technology
Due to the immense benefits offered by Blockchain technology and the shortcomings of centralized social media platforms, we were inspired as a team to develop MySocialVerse as a modern solution.
This is because MySocialVerse is an innovative product of combining the concept of social media with the Blockchain to create a decentralized platform which gives users autonomy and more control and ownership of their content and data.
This in turn enables them to generate income from simply using MySocialVerse as their preferred social media platform and authorizing corporate entities and other advertisers to use their data for marketing purposes.