A while back, a blockchain startup approached me with their pitch, a decentralized social media application in which users can earn money by simply doing what they already do on other platforms, such posting updates, photos and videos. I would have been intrigued had they sent me the message a couple of years ago.
But not so much after observing the space for more several years. Several blockchain applications profess to enable users to monetize various resources, whether it’s their unused storage and CPU power, or the tons of data they generate every day.
Regardless of whether they will succeed to deliver on their promises or not, these projects highlight one of the problems that haunts the centralized internet. Users are seldom rewarded for the great value they bring to platforms such as Facebook, Google and Amazon .
Blockchain applications suggest that decentralized alternatives to current services will give users the chance to collect their fair share of the revenue they generate with their participation in online ecosystems. It’s an enticing proposition since it doesn’t require users to do much more than what they’re already doing: send emails, browse websites, watch ads, keep the computer on A handful of blockchain platforms enable you to rent your unused storage, idle CPU cycles, and internet bandwidth with those who are in need. The premise is simple: You list your resources along with your payment terms on the application and get paid in the proprietary crypto-token of the application when others use them.
Purchases are arranged, performed and paid peer-to-peer through smart contracts, bits of code that run on blockchain without the need for a centralized application server. Examples include Golem and iExec, two decentralized marketplaces for computing power. Read more from techcrunch.com…
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