Blockchain: Enhancing the Efficiency of Communication
Ever since the introduction of blockchain as mainstream technology, innovators and enthusiasts have figured out numerous use cases. From financial transactions to VR games, blockchain based systems are rapidly replacing their conventional counterparts.
In recent years, researchers and companies are finding new ways of integrating blockchain with the existing communication technology. And guess what? This hybrid concept has the potential to disrupt the entire communication industry in the coming few years.
Talking about communication, you should not restrict your perspective to voice-calling. Even the giant social media platforms are rigorously developing a system that utilizes concepts of blockchain at the most rudimentary level. Besides peer to peer communication, there are high chances of blockchain changing the mode of interaction between influencers and their fans. Having said that, let us dive deeper into the topic.
Features of Blockchain Which Will Help Communication
Secure Network
Almost everyone of one is aware of hack attacks, network hijacking, and data breaches happening in the communication systems throughout the world. The vulnerability of communication systems always stays a step ahead of cybersecurity solutions. The loopholes in the existing networks attract hackers from across the globe, which is evident from the statistics and crime reports. This is where blockchain steps in.
The principle of decentralized ledgers and an iron-clad security efficiently cover all the flaws that can compromise a network. This can be witnessed by a subtle yet wide adoption of 128-bit SSL encryption technique by some websites.
In the coming years, you can expect the usage of stronger encryption techniques and hash-codes unique to every visitor on the website (which can be treated like a node/block). A similar approach can be used by telecommunication services too. In this way, even if a hacker breaks into one node, the overall network remains secure.
Social Trust
Many cyber activists constantly argue about the authenticity of information popping on the feeds of social media platforms. They accuse the companies, AI, and their recommendation systems of having an inclination towards specific propaganda.
A lot of people agree with these accusations and don’t trust the information coming through social media. Moreover, this distrust is increasing day by day due to an authoritarian system.
These social media platforms can eradicate this problem by using blockchain and decentralization. The absence of an authority will ensure a fair environment that is enough to minimize, if not abolish, the sovereignty of a platform. In this way, blockchain can increase the social trust amongst users and follow a democratic approach.
Decentralized VoIP
A decentralized system also leads to an efficient and secure Voice over Internet Protocol. As of now, many VoIP services utilize a central system which is responsible for every call made on the network. This increases the expenditure on routing and network speed.
On the other hand, a blockchain based VoIP network uses distributed networks (analogous to distributed ledgers). Hence, the companies don’t have to focus extensively on routing. Apart from this, errors in the central system won’t affect the functioning of the network. This is possible because of blockchain’s feature of decentralization.
Authenticity of Information
Now that we have discussed the biases of information flowing on social media platforms, let us further discuss its legitimacy. The integration of blockchain with the sources of information, be it social media platforms or news articles, can easily control the flow of false information on the internet.
This can be done by verifying the timestamp and source of a particular picture, video, or news article by treating it as a block. This is particularly useful in the case of communication happening via text messages and social media feed.
Apart from verification of a post/message, one can also trace its origins. This is particularly useful in the case of solving cyber crimes and busting propaganda. As of now, blockchain seems to be a very efficient and feasible solution to this problem, which can be seen in emerging modes of communication.
Maintaining Anonymity
Many internet users are increasingly using anonymous chat rooms as a mode of communication. Anonymous modes of communication are very essential in today’s world because many whistleblowers expose the wrongdoings of authorities and systems on such platforms.
Therefore, it becomes very essential to protect their identity for obvious reasons. While there are many apps and websites where you can post anonymously, you can be traced by the hackers if they can access the system.
However, in case of blockchain based forums, there’s no need to worry about one’s digital identity. This is a good alternative to posting information on ‘onion’ sites and on the deep web.
Blockchain based anonymous forums will allow the same level of namelessness while making the information accessible to a much larger audience. Besides, one can also verify the source of original information, which also overrules any concern regarding the legitimacy of the post.
Companies Working on Blockchain Based Communication
LEVELG
Future Fintech needs a set of subtle approaches to win users' heart and mind regardless how futuristic a system is designed. As the world is changing fast, still crypto players need fiat system as exit method. Profit is not a profit until you can spend it for personal use in real life. Thus LEVELG with its own to be launched platform GWALLET.TECH is developing the most innovative communication platform for traders in accomodating the slim loopholes of decentralized system. The use of LEVELG token as GWALLET 'battery' will reinforce non spoken sense of belonging and loyalty.
EximChain
EximChain has devised an efficient way of managing communication in the logistics and supply chain industry by introducing a blockchain based system. It is very useful for inventory management, tracking transactions with smart contracts, and supervising supply chain finance. Additionally, the robustness of blockchain bridges the communication gap between enterprises at a global level.
With the help of blockchain communication, Eximchain has introduced the concept of ‘SmartSupplyChain’, which allows the business owners to optimize the workflow while minimizing the paperwork and costs. Hence, companies struggling with logistics and supply chain can trust Eximchain’s blockchain system for transparent communication.
You should definitely keep an eye on it to see further developments in the domain of enterprise communication.
Loki
If you want to explore platforms concentrating on privacy while communicating with utmost freedom, you must try Loki messenger. It is an open-source blockchain network with primary focus on anonymity and privacy. Loki’s SNApp messenger is one of the most secure and innovative communication softwares in the present day scenario.
Loki has leveraged the concept of decentralization to build a private network capable of providing anonymous transactions, internet browsing, and messaging services. Not only this, you can even use Loki’s network for developing customized privacy centric applications.
Their SNApp messenger goes by the name of ‘Session’ which provides end-to-end encryption services. Besides decentralization, Session does not store the metadata, which is generally used for surveillance.
Mavin
Communication is a very broad concept that isn’t restricted to 1-1 texting or VoIP. Mavin recognizes this fact and has come up with an influencer marketing platform backed up by blockchain. It allows social media influencers to monetize their post by rewarding them according to the post reach and engagement. Unlike its competitors, Mavin is specifically designed for micro-influencers.
This blockchain based application establishes a communication platform between budding social media celebs and brands. Furthermore, if the post is approved by the brand, the users can instantly check the reward. It is a very unique way of communication wherein monetary transactions take place on a blockchain network without manual interaction.
Steemit
Many software working on communication and blockchain utilize the concepts of decentralization and incentivizing. Steemit is one of the leading examples of such platforms. Steemit utilizes the concept of incentives on a post. The reward is directly proportional to the authenticity and votes of the post. Furthermore, during payout, it is equally shared by the author (50%) and voters (50%).
This is a very unique concept which is backed by a blockchain network. Steemit provides 3 types of currencies to its users namely - STEEM, Steem Dollars, and Steem Power. They are very similar to BTC tokens. Steemit is an innovative way of capping the fake news and controlling the information flow through a social democracy. The only downside to Steemit is that you can’t recover your password because of the Steem blockchain.
Sendy
Sendy is a unique blockchain use-case that focuses on e-mail marketing and communication. It incentivizes a target audience to read newsletters. That means, the users get paid for reading a newsletter. You can set up your own Sendy email account and fix a price for every newsletter you’ll read.
Instead of cleaning spams and newsletters from your inbox, you can utilize them for yourself with Sendy’s blockchain network. Furthermore, you can get giftcards or crypto tokens in exchange for the Sendys earned by you.
This network, built on Ethereum protocol, balances the power between marketers and the audience. Moreover, this concept is extremely useful for both the parties as it increases the conversion rate and minimizes spam mails.
Benefits of Using Blockchain
Apart from a democratic and tantamount communication network, blockchain is very feasible when it comes to accountability and legitimacy of information. Furthermore, you can’t neglect the iron-clad security and strong encryption algorithms supported by the blockchain. You can also rest assured because blockchain also solves the 51% attack problem, which is a repercussion of a decentralized system.
Blockchain is a lot more than just a buzzword in the tech industry. Blockchain networks and smart contracts have a very promising future. The world has already witnessed the potential of blockchain after the inception of DeFi systems and cryptocurrencies. Besides, the healthcare industry is rapidly adopting blockchain solutions to increase its efficiency.
A similar trend is also being observed when it comes to communication, be it 1-1 voice calls or influencer marketing. The world is going through a technological revolution led by blockchain, IoT, and AI. Hence, now is the right time to start exploring blockchain based communication.
Happy Exploring...
The writer, Shahzool Hazimin Azizam is CEO at LEVELG.NET
