The 21st century has well taken charge of daily lives of the common men and there is no bigger feature of it than the extraordinary usage of social media. Naturally, social mediums now affect everything and everyone, while also due playing a concurrent role of responsibility. This responsibility is to demarcate exploitation, spam and dishonesty.
While all subjects of business, finance, technology and industry are in several ways reliant on what social media does for them, there are less in more need of it to be on their side than the cryptocurrency and blockchain space. Being rather newer concepts, there are already and always sections and groups of adversaries trying to edge it out of the future world and it is currently not being helped in many ways by the social media world, either.
The very narrative was spoken about by one of the most prominent proponents of the space, Jonha Richman. Adviser to Polybird Exchange and Blockchain Firms, Jonha believes that social media platforms need to play a more significant role into regulating the community. Talking to Block Publisher, she shared:
I think these platforms such as Twitter and Facebook need to play a more active role in helping police the community.
While agreeing to the notion that the social practice is not doing enough for this particular space, miss Richman analyzed that it will work both ways. According to her, support from social platforms would not only ensure and maintain quality of the space, but would also reinstate the community’s trust in social media. She said:
While this may not necessarily be on top of their priorities or best interests right now, it will only help re-instate the diminishing trust in social networks. In fact more and more people prefer to have their little tribes on WhatApps, Telegram these days as they feel that they could better express themselves and as long as the community is administered by an admin, quality is usually maintained.
Jonha Richman herself has been a victim of of social media scams by her name, which adds to a rather general recent wave of fake ICOs and scam advertisements about token rewards on platforms like Twitter and Facebook. While central authorities of these multi-billion organizations continue to look away for now, time when decentralized versions of these very platforms take over might not be far away.