Reimagining the beautiful game: How Blockchain is changing the future of Social Media

 

Today, Facebook, Twitter, Instagram, Snapchat, and LinkedIn are all household names, but with blockchain already beginning to shake things up, how will it affect the social network space?

Carlos Grenoir, CEO of Olyseum, a collaborative and specialized, blockchain-based, social network created by sport leaders for sport lovers, gives his thoughts on what happens when sports, social media, and blockchain collide.

 

Social media platforms currently attract more than three billion users. That’s almost half the world’s population that are liking, commenting, sharing, and retweeting content with friends, family members, and celebrities. Social media platforms offer users the opportunity to follow and engage with celebrities but, as is often the case, this communication is one-way and there is a disconnect between users and their idols.

 

One company aiming to change this is Olyseum.

 

Olyseum aims to forge closer relationships between sport stars and their fans, with a focus on incentives, data ownership, and security. The platform was born out of a shared desire between former FC Barcelona players Carles Puyol, Andrés Iniesta, and Iván de la Peña, the world’s most notorious hacker Kevin Mitnick, and myself, Carlos Grenoir.  We joined forces to usher in a new era of fan engagement by creating Olyseum, the first specialized sports social network that connects fans with their sporting idols.

 

With Premier League fever in full swing, and with the Spanish football league La Liga also kicking off this weekend, how are fans engaging with the beautiful game? Throughout their respective careers, spanning more than two decades, Carles, Andrés and Iván identified several problems with the current social media landscape the most pressing being the disconnect between sports stars and their fans.

 

Whether it’s sportspeople, musicians, or politicians, social media allows users to follow people they look up to and engage in their content, but connections developed on traditional social media platforms tend to be inefficient and unidirectional, making the interaction between fans and their idols impersonal. The quality of fan-idol engagement is limited; there is no success sharing, fans typically engage in a one-way conversation, and users aren’t rewarded.

 

 

While the quality of football at the recent World Cup eclipsed that of the 2014 tournament, television ratings were down 44% when compared to 2014. It’s no secret that television executives are confronting the significant challenge of waning viewership for sports, with the ‘second screen experience’ being deployed as a mechanism to boost viewer engagement. Olyseum aims to amplify the fan experience further by bridging the gap between fans and their idols, and facilitating genuine interaction between like-minded users.

 

With the fallout from the Cambridge Analytica and Facebook data privacy scandal still reverberating around the world, and with GDPR recently coming into effect in Europe, the issue of user data and how it is shared with third parties has also come under the spotlight.

 

In an era of fake news and privacy scandals, it’s easy to see why trust in social media sites is declining. For example, Facebook is currently home to 2.1 billion accounts, with over 270 million fake profiles! So how can stars take back ownership of their social media identities?  

 

Blockchain offers a solution to this problem, and by utilizing the technology, users can take back control of their data and know who, what, when, where, and why their data is being shared. Blockchain also allows users to verify their identity and make sure their personal information isn’t being stolen, thus reinstating users’ trust in social media platforms.

 

Olyseum will use blockchain in a variety of ways to enable trust, transparent automation, privacy, and payments. We understand that our users may not want their data made visible to Olyseum, advertising companies, or other third parties. For that reason, users’ sensitive information will be securely encrypted on the blockchain, giving sports fans and idols complete control over their digital privacy. If a user decides they want to eliminate their information from the platform, they can simply end their decryption access and wipe their activity record from the blockchain entirely.

 

Social media platforms using blockchain technology have the potential to disrupt and change the space. By applying blockchain, there is an added layer of trust, increased privacy and control over your data. More importantly, blockchain could mean that data leaks and breaches of privacy could soon become a thing of the past.

 

 

 

 

About Carlos Grenoir

Carlos Grenoir is a serial entrepreneur behind Quantum Fields Technologies and the founder of Olyseum. With in-depth technical expertise, Carlos is a Ph.D. applicant in Computer Science and Telecommunications and has a Masters in Information Security and Neuroscience. Carlos founded Olyseum in 2016 alongside former FC Barcelona players Carles Puyol, Iván de la Peña and Andrés Iniesta to bridge the gap between dedicated sports fans and their heroes through blockchain technology.

 

About Olyseum

Olyseum is a collaborative and specialized, blockchain-based, social network created by sport leaders for sport lovers. Created by former FC Barcelona players Carles Puyol, Iván de la Peña and Andrés Iniesta, Olyseum bridges the gap between dedicated sports fans and their heroes.

 

Founded in 2016, Olyseum creates a common space where sporting idols and fans can interact and engage, creating valuable content, conversations, and insights that users are in turn rewarded for. The use of blockchain technology further empowers members to take ownership of their data on a secure and transparent user-driven platform.

 

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