How Innovation and Decentralization Will Forever Change Social Networking

How Innovation and Decentralization Will Forever Change Social Networking

Social media struggles with issues of privacy, security and truthfulness, and relies on algorithms that create echo chambers of news. With blockchain, true privacy and security are possible without censorship or eavesdropping, while smart contracts can replace third parties like lawyers and notaries. Decentralized social networks offer users control over their profiles and data. Users could be rewarded with cryptocurrency for content, while "likes" could be replaced with cryptocurrency for content. Steem.it and the Brave Browser are two projects exploring decentralized networks.

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More Innovation Resources:

Can Prediction Markets Forecast Successful Innovations?

Prediction markets are more effective than voting for selecting successful innovation ideas, as they engage employees through gamification and quantify the opportunity.

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Innovation Stigma

Executives have a bias against innovation and believe it is soft and frivolous compared to other business activities, which prevent them from investing in serious innovation initiatives.

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How a small change can have a big impact

The First World War has a lesson for leaders: small changes can have enormous impact, especially in complex systems, creating the Butterfly Effect. A small wins innovation approach can lead to cumulative impact.

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