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Book chapter
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Reference no. BEP11159
Chapter from: "Cryptosocial"
Published by: Business Expert Press
Originally published in: 2022
Revision date: 10-Aug-2022

Abstract

This chapter is excerpted from 'Cryptosocial'. The year 2020 could go down in history as the social media tipping point. Facebook and Twitter came under fire for censoring alleged misinformation related to COVID-19 and presidential election results. Fake news, fake social media accounts, and data breaches have compromised the personal information of millions of users worldwide. Facebook is fighting an antitrust lawsuit while YouTube is losing top creators over its demonetization policies. To save the world from the evil empires of social media, a hero is rising up from the digital soil. Its superpower is a new technology called blockchain. Until recently, cryptocurrencies were of interest primarily to a few digital nerds, a handful of financial renegades, and libertarian idealists with a lot of time on their hands. 'Cryptosocial: How Cryptocurrencies Are Changing Social Media' deconstructs the ideas and ideologies that underlie the hype and keep bitcoin trending. It shows how the strengths and weaknesses of the new platforms and protocols are embedded in the features of the technology itself. Far from being a glossy-eyed evangelist or hostile critic, author Allen Taylor objectively offers a realistic view of the benefits and drawbacks of cryptosocial media for the average user. Will cryptosocial media displace current social media or remain a niche product serving but a tiny fragment of a much larger audience? This is the ultimate question addressed in 'Cryptosocial: How Cryptocurrencies Are Changing Social Media'.

About

Abstract

This chapter is excerpted from 'Cryptosocial'. The year 2020 could go down in history as the social media tipping point. Facebook and Twitter came under fire for censoring alleged misinformation related to COVID-19 and presidential election results. Fake news, fake social media accounts, and data breaches have compromised the personal information of millions of users worldwide. Facebook is fighting an antitrust lawsuit while YouTube is losing top creators over its demonetization policies. To save the world from the evil empires of social media, a hero is rising up from the digital soil. Its superpower is a new technology called blockchain. Until recently, cryptocurrencies were of interest primarily to a few digital nerds, a handful of financial renegades, and libertarian idealists with a lot of time on their hands. 'Cryptosocial: How Cryptocurrencies Are Changing Social Media' deconstructs the ideas and ideologies that underlie the hype and keep bitcoin trending. It shows how the strengths and weaknesses of the new platforms and protocols are embedded in the features of the technology itself. Far from being a glossy-eyed evangelist or hostile critic, author Allen Taylor objectively offers a realistic view of the benefits and drawbacks of cryptosocial media for the average user. Will cryptosocial media displace current social media or remain a niche product serving but a tiny fragment of a much larger audience? This is the ultimate question addressed in 'Cryptosocial: How Cryptocurrencies Are Changing Social Media'.

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