BitClout — What People Aren’t Realizing About the New Social Platform
When users initially sign up to BitClout, the first differentiating feature they notice, when compared to other platforms, is the fact that they have a dollar value attached to themselves.
This, in itself, is incredibly unique and somewhat shocking when compared to the typical social media platforms like Facebook, Instagram, Twitter and Tiktok. This is also what the media has been focusing on, oftentimes in a negative manner.
With this said, the monetization of a social score is only the tip of the BitClout iceberg; an iceberg which runs deep into the internet ocean.
More than a Social Network
What one needs to understand is that the BitClout.com website is merely a facade to the underlying BitClout blockchain. Think of BitClout as a single game being run on a supercomputer. The game has its functionality but relies on and continues to write to the underlying hardware backbone. In this case the supercomputer is the BitClout blockchain.
Because BitClout is currently the only truly functional application/node within the blockchain at this time, it’s easy to overlook the long term implications of the entire blockchain running in the background. BitClout is exciting, interesting and highly functional, but in the whole scheme of things it’s only a tiny fraction of the entire blockchain that developers hope will spread throughout the internet ecosystem.
One Identity & Database for the Internet
Imagine if you were able to login to your Facebook account and automatically gain access to your bank accounts, eBay account, Tiktok account, Amazon account, Netflix account and Roblox account. Now imagine if whatever you do on Facebook, would also be copied into the database that controls your Amazon account. All the data is there, distributed on a ledger and shared on the blockchain for eternity. And that blockchain is copied over and over again on millions of computers worldwide.
While there are security issues that certainly would need to be addressed, and of course scaling worries, the BitClout blockchain theoretically could function just as that. It can be a single unified database which thousands of websites access and write to in a streamlined fashion, allowing users to transport their data, their social score and their past to new platforms, new websites and new projects. The implications of such would change the fabric of the internet for good and usher in a wave of innovation that we have yet to realize. It could also squash hate speech and spread social good across the internet as people vie to showcase their value to the entire internet community.
Sure, it may be a bit irresponsible to imagine such a future, considering BitClout only launched a few weeks ago, but the implications of such certainly need to be examined today. After all, the internet community has been hyping the blockchain for years now, without any major non-cryptocurrency projects really breaking though. Could BitClout be the project that the experts have been hyping? We believe it very well could be.
DISCLAIMER: We do not provide personal investment advice and we are not qualified licensed investment advisors. This is not financial advice, and you should never invest more than you can afford to lose. You can follow us on BitClout @Krassenstein.