In the near future, if all social networks begin using blockchain technology, these could be some of the changes we see:
1. Control over false information (fake news, misleading headlines, fake profiles): This would mean (1) a huge gain for journalism, as fake news have increasingly become more common with the growth of social media and the digital landscape, and (2) a safer place for social media, as catfishing and deception through fake profiles would be impossible.
2. Ownership over our own data: Users wouldn’t have to agree to give up all of their data in order to use social media, but instead, could share the data they want with the networks or brands they want to. A more democratic approach to data access.
3. Possibility for users to be rewarded for creating quality content: This is related to what Paula Carrillo mentioned. Advertisers could use a reward system through which both users and brands contribute. Brands get visibility and honest feedback and in exchange users earn points or discounts on the brands they like and support.
4. Possibility of purchasing through social media with cryptocurrencies: As many brands already sell through ads in social media, this could mean the merger of cryptocurrencies with social media to make purchases through a safer and faster system.
