Question: what’s holding back smart blockchain developers?
Answer: the current social platform paradigm. Up to now, developers were just promoting blockchain business on social platforms like Facebook. The next step is using smart contracts to motivate social network users, and then integrating and automating their service into your platform.
Communicating and gathering attention on social networks is yesterday’s mantra. Before the blockchain, this is all you could do with a social network. Like a stage where you go and entertain for attention. Now, smart contracts can provide a different option to approaching your audience. You can actually engage these people to mutual benefit.
The problem is trust, and it’s natural
Jean-Jacques Rousseau’s Social Contract is not a Smart Contract. The main issue when dealing with social networks is trust. When you’re a user, you can’t be totally sure that a company will acknowledge what you do on a network. Same fears are on the other side. A company can’t be sure that a user actually did something on a network without personally checking. And not even then, as users usually activate screens and security measures to protect their personal data.
What the blockchain context means to businesses that use social media
For starters, you can use a smart contract to automatically reward your users for promoting your business. It’s like a bounty campaign, but without any supervision or hassle. You create a venue where anyone can enroll to be your supporter, and you can use a smart contract to automatically ensure that each user promotes you on a social network, and then ensure they get paid.
You can even choose to pay according to that person’s reach, by checking their friend list. Or issue a bonus if their posts reached more than expected. All this automated and secured by a smart contract. No post — no pay. Not the reach promised — no bonus.
But it gets even more interesting.
How to integrate user’s actions in your product, through a smart contract
You heard right. You can now build a product that is based on user’s actions in social media. For example, you can give away access to a contact list or content, provided that the user shares or promotes something on a specific or various social media platforms, or that he reaches a certain amount of people. All backed by smart contracts.
It’s as if suddenly, everyone gets a conscience. Suddenly, all your users are reliable. No one can get screwed, neither you nor the client.
Your business can offer information about your client’s product or content in social media. For example, a user may post a product, and then check what reaction — posts, mentions, or even the general feeling — the product generated.
How can you do that, you ask?
You can’t just yet. But you will as of January 2018. Sether is a platform that offers social network automation for blockchain developers. The ICO is launching in December, but the platform will go live regardless of the outcome of the ICO campaign. This will enable developers to build a new breed of blockchain services that take full advantage of the information available on social networks: bounty campaigns, loyalty programs, customer targeting, referral programs, coupon discounts or proof of action.