Is There a Future for Decentralized Social Media Platforms?

Published on April 9, 2021

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Problems facing Decentralized Social Media Platforms:
Acquiring users and developers
Network effects are strong, meaning they are difficult to break free from if your social circle isn’t found on these new decentralized options
User interfaces very very often leave much to be desired. They don’t have the benefit of receiving constant feedback from millions of users over years to formulate a well-liked experience by all.
Public key cryptography can be and very often is overwhelming to those who are new to it, they often lose their keys and therefore lose their access.
Social media, as we have been exposed to it and eventually sadly what we are now accustomed to is the fact that social media is heavily geared toward rewarding clickbait titles and content that is good for advertisers. By rewarding I mean, allowing that kind of content to see mass exposure. This eventually (again, as we see everyday now) leads to extremely shallow content proliferating the different platforms and only encourages more of it.

Core Issues that DSM needs to figure out (once these are addressed and solutions are provided, I firmly believe that the masses will come organically and with them the user interface will improve also):

  • Monetization shouldn’t be the main benefit: Yes, this is a huge flip of the current business model of centralized social media giants and no doubt that is a great thing, but in the end, social media platforms should allow people to share information, stories, photos, videos etc in a way that allows them to find connection and community. If the only thing motivating people to participate on a platform is purely for money, then the user experience will be skewed in much the same way as the current model stands with the social media giants. The obvious hurdle here being the algorithm that determines value assignment on the platform and who (if anyone) can control it to sway the direction of the platform and those who use it.
  • Curation without censorship: There should be a way for users to gain exposure to different communities of equally curated relevant content
  • User friendly interactions with public key cryptography: This one is indicative of the entire crypto space in general. Increasing the user friendliness while not sacrificing security is a big hurdle that I and many others believe Is effectively keeping the masses at bay. I’m all for increasing the awareness of the importance of taking real ownership of your investments and how cryptography is a damn good way of accomplishing this, but the unfortunate fact as it stands is that many people favor convenience over ownership and security.

https://www.wired.com/story/decentralized-social-networks-sound-great-too-bad-theyll-never-work/

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