Effective Social Networking on Blockchain

Social Networking on Blockchain

Social networking allows you to connect to a huge amount of people without spending a dime. It is a means of mass communication that enables the two corners of a business that is the management and the customers to meet. It can also be done from a celebrity to their fans and from the government to its people, with very limited actual interactions. Today, virtually anyone wanting to succeed despite the competition or wanting to maintain any relevance in any market must have a social media presence. Social networking has helped many organizations by promoting their products and services to a very large audience and has given activists a potent tool to advance their causes.

Despite their many advantages, social networks lack built-in accountability, and their apparent transparency is being routinely misused by fake users, anonymous trolls, scammers and other nefarious agents. Not to mention the centralized nature of current social media networks, and the inherent risks that corporate interest will come before the interest of the users or of society as a whole.

Lack of encryption in current social media networks enables corporation and information agencies alike to routinely access users’ data and scrutinize their private and public communications, leaving little room for privacy.

Fortunately, blockchain technology is bringing answers to most of these issues. First of all, it is structurally decentralized, and therefore cannot be ruled by the interests of a corporation. Secondly, it includes built-in KYC (Know Your Customer) procedures that can prevent anonymous or fake users from accessing any or all features in a blockchain based social network. Thirdly, blockchain enables unhackable encryption (due partly to its decentralized nature). Fourthly, the use of smart-contracts enables the creation of many interactions previously only possible with the help of a third party.

Though the underlying technology is highly complex, the user interfaces are usually as easy to use as the apps mobile phone users around the globe are now using daily.

When thinking about organizing any group in a transparent, secure and accountable way, blockchain has all the elements that enable the creation of such a previously utopic system.

Reliable polling, secure voting, conditional fundraising or effectively keeping elected leaders accountable are just a few examples of the myriad of functions blockchain technology can provide.

Coalichain is an example of a platform that maximizes a combination of these functions to facilitate the use of effective democracy within any group of people, from the members of your local baking classes to national governments.

Several Multi-Signature proof of identity protocols are considered for ensuring votes integrity on Coalichain. A combination of them will eventually be implemented on the platform, starting with validation through classic Official ID and incrementally adding more sophisticated systems:

• Phone identification (through text message or code generating app)

• 3D secure Credit Card verification

• Biometric identification (fingerprint recognition, face recognition)

• CoaliChain provides you with a decentralized and transparent platform to
• Run polls, surveys and referendums
• File and promote petitions
• Run elections

Private elections for

Unions

DAO (Decentralized Autonomous Organisations)

NGOs

Small groups (i.e. sports’ club members, class parents, local baking club…)

Any group in need of organizing themselves in a secure and transparent way

• local elections
• General elections
• Raise Funds
• Communicate

In addition to guaranteeing secure and transparent votes, it offers a milestones-based smart-contract system designed specifically to either provide sanctions for representatives who fail to meet predefined milestones, or to provide gradual funding, releasing funds only after milestones completion.

This means that Coalichain offers the possibility to remove an elected leader who does not meet the goals he promised to reach in order to get elected.  That can be implemented immediately within civilian communities and organizations. Some politicians have already agreed to rely on Coalichain to show to their supporters that they intend to maintain their integrity. That they are serious about pushing their program forward and are willing to face the consequences if they do not.