Big Players Try to Block Blockchain Companies; Only to Encourage New Competitors
Old Centralized World vs. New Decentralized World
Sensing a threat to their centralized dominance and power over the world’s data, big social media companies, like Google, Facebook, Twitter and LinkedIn, are blocking blockchain-based businesses and Initial Coin Offerings from appearing on their platforms. But does the new wave of innovation based on blockchain really pose a threat to the majority of the world’s consumers?
For years the blockchain community has been focused on engineering a future in which humankind’s data is not stored on privately controlled servers at the mercy of their host companies. Facebook knows basic information about billions of people (and bots) as well as extremely in-depth psychological profiles for millions of its users.
Why does a company that insists it cares more about users privacy than anything else be concerned about decentralized applications (d-apps for short)?
The short answer: d-apps do the job better and more securely than these largely centralized powers. The redundancy of data and the ability for automatic consensus-based transactions allow d-apps to perform tasks that are normally done on large closed-source private networks. For many years theories and use cases for d-apps and blockchain have been just that — theoretical.
However, today there is a blossoming of companies made up of cutting-edge technologists who seek to return the power of the people to its rightful owner. Companies like Sapien Network, founded by Ankit Bhatia and Robert Giometti, are gearing up to challenge power-hungry Facebook with a decentralized blockchain-based social network and news feed. The ability to trace content sources with blockchain allows for superior trust in the accuracy.
Facebook isn’t alone in its belligerence against decentralized networks. They along with Google, MailChimp, Snapchat, Twitter and LinkedIn have banned blockchain-based startups from advertising Initial Coin Offerings and blocked their domains. It is clear their objective is to squash the threat to their monopolies over data.
Like Sapien Network, BitClave (founded by Alex Bessonov and Vasily Trofimchuk) is challenging Google’s search dominance with state of the art blockchain technology applied to its search engine platform. Even LinkedIn has a new decentralized competitor: Inbot Ambassador, founded by Mikko Alasaarela and Vesa Perälä.
As with other blockchain-focused companies, 1World Online, founded by Alex Fedosseev, is seeking to disrupt the centralized and ineffective online advertising industry like Google AdSense. Instead of regular banner ads, it offers interactive widgets which engage media consumers and share 10% of revenue via 1WO tokens for users participation. At the same time, it provides advertising partners with a revenue stream that gives invaluable insights regarding what their users think at a particular moment of time, and with the use of the user feedback showing only relevant to user ads, what can not be done with traditional programmatic ads.
1World Online has launched its utility token and raised $10.8 million (worth of crypto and fiat) through the crowd sale. Now, 1World is making direct advertising deals with like-minded blockchain companies in order to launch and expand its ICO Boost marketing capabilities. Using token rewards and token denominated advertisement deals, 1World is able to improve liquidity and enhance dynamic cross-platform token exchanges.
Unlike the centralized world of the early 2000s internet — 1World is pushing ahead with its decentralized partners to secure a better future for consumers and their data.
What other blockchain-based alternatives to current giants do you know?