Why Big Brands like Ask.fm Are Turning to the Blockchain

It’s a force to be reckoned with, and it’s taking the technology space by storm. Blockchain is here to stay, and you’re either on board or you’re already letting the competition jump ahead.

Companies like Ask.fm, Salesforce, Starbucks, and Kodak are turning their tech teams towards blockchain, acknowledging the potential impact of the technology across various industries.

Appealing To A ‘Tech-Savvy’ Demographic

By creating a self-sustaining ecosystem through the utilization of smart contracts, tokens, and other incentives, these brands are able to capitalize on a new market that appeals to a different demographic—those who are extremely tech-savvy and much younger.

By providing tokens to users, those users are able to contribute to the development and sophistication of the platform, all while utilizing goods and services. Blockchain tech allows consumers to once again take control of the goods and services they enjoy, while these platforms are able to grow based on user feedback and financial backing.

Ensuring Quality Across Social Media and Q&A Platforms

Arguably the most successful online Q&A platform since 2010, Ask.fm is opening its neurons to a token sale. Having tapped into a lucrative trend, Ask.fm is host to over 215 million users, providing them with the opportunity to ask and answer controversial questions, totally anonymously, similar to AskReddit.

With the large number of ICO failures this past year, it has been very difficult for some in the industry to accept the many benefits which ICOs bring to companies like Ask.fm. For this Q&A platform, a token sale could present a huge opportunity, as the raised funds will allow the platform to expand its reach, market, and security when it comes to user anonymity and transparency.

Reducing ‘Negative Nancies’

With the launch of Ask.fm 2.0, this service is the perfect fit with the blockchain space because it allows for the seamless flow of information on a P2P network, providing for an open and democratic discussion.

Whatever the forum, it’s almost inevitable that any question triggers some form of trolling, spamming, and/or interaction that contributes nothing to other users on the forum. With blockchain technology, these platforms become highly transparent, secure, and anonymous, minimizing the number of these low-contributing users.

Knowledge Is Power

For a platform full of questions, answers, suggestions, and other commentary, a blockchain could contribute by incentivizing users to present thoughtful, engaging questions and answer with useful and quality responses, with the potential reward of tokens or other forms of crypto.

This will also help curtail those who aim to troll or spam forums, diminishing the status and reputation of such platforms.

Any and all images used are credited and/or attributed to Ask.fm