Stories, the Blockchain and the chance for a reboot of social networking

Here is a German version of this article.

Currently it looks as if the Stories format invented by Snapchat and copied and popularized by Instagram will become one, if not the major component of social networking. While predicting its exact adoption trajectory is impossible, one can not rule out that in 2018, the number of users who consume other people’s Stories or who contribute with their own, will cross the 1 billion mark. It would be a shame if this growth segment would be completely left to the 2 currently dominating, centralized and rather closed players.

But even suggesting that an open alternative to Snapchat Stories and Instagram Stories is desirable likely puts many people off – understandably. After more than a decade of failed attempts to create successful social networking services based on open principles, decentralized infrastructure and data portability, one has to be a hardline optimist to still believe in such a possibility. It seems as if the common approach of centralized, ad-financed and data-hoarding platforms has unequivocally won.

Or maybe it hasn’t. With the rise of the Blockchain technology, there is reason for hope. With the Blockchain – in simplest terms a distributed database managed by a peer-to-peer network – new approaches to developing and operating a social network are becoming feasible. Continue Reading