Executive summary about tokenized social media

Nowadays, users have an increasing demand for decentralized platforms when censorship, privacy disclosure, and security of personal data are severely concerned in traditional social media. The innovative blockchain technology perfectly solves this dilemma by reducing the trust cost, protecting users’ freedom of expression, and serving as a reliable framework of the peer-to-peer (P2P) network.

Taking a further step, a few social media companies have introduced the token system into their platforms. Tokenized social media connects the platform and users through their consensus on the token value. Moreover, the token economy incentivizes users to contribute their intelligence to the virtual community and participate in on-chain governance. In this article, we will introduce three typical tokenized social media, Steemit, Bihu, and Voice, in facets of their business models, token design, as well as insightful analysis about its strengths, weaknesses, opportunities, and threats (SWOT). Finally, we will discuss how tokenized social media revolutionizes the online communication ecology and builds the future community of diversity and inclusion.

Please check more on our SciEcon_Research Medium site [Part 1][Part 2][Part 3].