This blockchain-based social media platform is going after TikTok

cointelegraph.com:

Social media is the digital world’s go-to source for entertainment, communication and self-expression. Despite developing new ways to monetize content, this monopolized market still lacks a transparent and engaging reward system for user-generated content. On top of that, there is no trustworthy voting mechanism for crowdsourcing decisions.

For example, TikTok, a popular application that lets users create video shorts, implemented monetization features like Creator Fund and virtual gifts. However, the platform’s reward system still lacks transparency and fairness. Creators often express concern over the uneven distribution of revenue and the opaqueness of the algorithms that determine content reach and visibility.

Using the built-in paid advertising tag seems to lead to lower content views. Some successful TikTok influencers even observed their views drop after joining the fund, suspecting that the application was intentionally limiting their visibility to cap their payout. One of the influencers told Wired: “I ended up leaving the Creator Fund. I’d much rather my followers see my videos than make a few cents on views. I’m disappointed with the way it hurt people more than helped.”

Besides the lack of transparency, another issue plaguing most social media platforms is the lack of a reliable and trustworthy voting mechanism for crowdsourcing decisions. While users can gather opinions through comments, likes or informal polls, these methods are susceptible to manipulation and lack the security and verifiability required for transparent decision-making.

Source: SocialBlox

To address the chronic lack of transparency and trustworthiness, Dutch social media platform SocialBlox is leveraging blockchain technology, with its main