The world is on the verge of a huge technological development. The rise of AI, Virtual Reality, Web3, and the Blockchain are at the front of this tech revolution.
One important factor in the modern-day tech revolutions is the gap between public awareness and tech advancements.
Rise of the cryptocurrency started in 2009 with the introduction of Bitcoin. today there are more than 200 cryptocurrencies in the world. The main technology that goes tie to tie with cryptocurrency is the Blockchain. it’s been a decade since the implementation of Bitcoin and still public awareness is not enough for a breakthrough.
on the other hand, the modern world has become the Era of social media. The easiest and best way to share information and up-to-date knowledge is through social networks. But one big issue is that there are few major social networks and none of them have a better strategy to improve awareness and share information about the cryptocurrency and blockchain.
A social network dedicated to crypto and blockchain can play a pivotal role in the development and proliferation of these technologies.
There are key factors that explain why a Social Network dedicated to cryptocurrency & Blockchain is important.
1. Community Building
A committed social platform encourages interaction and teamwork among fans, programmers, investors, and influential figures. Members can distribute knowledge, guides, and announcements regarding endeavours, improving overall comprehension.
2. Education & Awareness
Offering educational materials ranging from introductory tutorials to in-depth technical assessments to clarify blockchain technology and cryptocurrencies. Keeping users up to date on the most recent advancements, patterns, and regulatory modifications in the cryptocurrency industry.
3. Networking
Professionals and companies in the industry are brought together, making it easier to find job opportunities, partnerships, and project collaborations. Key influencers and thought leaders in the crypto space can be followed and interacted with by users.
4. promotions & new releases
The network can be utilized by new projects to advertise their initial coin offerings (ICOs), token sales, and product launches. Innovative projects and startups can be found by users, which could result in investment opportunities.
5. Market Insights & Research/analysis
The platform offers up-to-date market information, analysis, and conversations, which are essential for making well-informed trading and investment choices. It enables the assessment of market sentiment and patterns through user conversations and surveys.
6. Trust & Security
An effective platform can put in place strategies to authenticate information and counteract misinformation, minimizing the possibility of scams. Permits community evaluations and ratings of projects, exchanges, and wallets, improving reliability.
7. Decentralization
An exclusive network focused on blockchain can promote decentralization and open-source ideals, which are fundamental to blockchain technology. Emphasizes decentralized applications (DApps) and how they are utilized, encouraging acceptance.
8. Regulatory updates & compliance
Businesses and individuals can stay compliant with the constantly evolving legal landscape by sharing and discussing regulatory updates. Together, the community can advocate for favourable regulatory frameworks and policies.
9. support & troubleshooting
Seeking and providing support for technical issues, investment strategies, and general inquiries is something users can do. There are specific spaces for developers to have discussions about code, blockchain protocols, and technical challenges.
10. Events & Meetups
Helps in arranging conferences, webinars, and local meetups to encourage face-to-face interactions. Users have the opportunity to find and join suitable events and hackathons.
These are main key factors which tells us that a dedicated social network for the futuristic community is very important.
Statistics also support the proposed idea of a crypto social. according to the statistics, Global crypto users were increased to nearly 560 million by the end of 2023. That means half a billion people are crypto users. This number is projected to reach the billion milestone before 2028. Also, there are nearly 84 million verified blockchain wallets are being used as of today. Also after 2021, there was a big rise in NFTs. in 2017, there were only 0.12 million NFT users worldwide. The number has increased to 14 million by the end of 2023.
Currently, the main social media networks for crypto-related subjects are X(formally Twitter) and Reddit. But these social networks don’t have the special features that crypto user needs daily basis. X has a trending bar for trending subjects and recently they gave a premium feature of connecting the NFT wallet address to the profile. Reddit supports the sharing of knowledge & information. anyone can ask a question about a crypto-related subject so others can answer.
But what today’s world and our future need is a dedicated social network for cryptocurrency and blockchain as well as other affiliated areas. This can play a key role in creating public awareness and trust about cryptocurrency and blockchain after recent incidents that reduced public trust in future technologies.