Open Chat Social Fi and Decentralized Social Media are the Future of Ownership

This week’s Blog is all about the very new Social Finance as well as decentralized social media as they will bring value and ownership back to the hands of the owner of the account. Not a platform that thinks they know best and cancel you or block and shadow banned you. Then say there is no such thing. We know better! So I want to first start off with the Social Finance part of today’s topic, then we will discuss the decentralized Social media and how it is beneficial for us to use in many ways!

Open Chat is the very 1st Social Fi App on the Internet Computer and what this means is while being able to use the app as a social media app it also is completely on chain as well as it has the capabilities to send Icp through Instant message on the Blockchain through Open Chat, Chat rooms or direct messaging. This is the 1st of it’s kind that I am aware of on the Blockchain and will be the innovator that leads the way into the future. This could not work on more expensive blockchains as gas fees would hinder use and make it too expensive to use at scale. Open Chat being built on the Internet Computer Bloackchain makes it Cheap as gas fees are a set 0.0001 Icp per transaction as well as moving at Internet Speed. So all of these user friendly capabilities makes The Internet Computer 2nd to none and the perect place for this kind of dapp.

What Crypto(s) Can You send Via Instant Meassge So for right now this amazing dapp can Send Icp tokens via Instant message on Open Chat and as The Internet Computer will also allow you to send Btc through instant message after the Btc Integration is complete and released to the public. There is also a Chat token I believe native to open chat. This is just my speculation and I will update as we learn more. I investigate these things but sometimes, since this is so new, there is no info yet so let’s err on the side of caution. So very soon we are going to have alot of btc sent in messages on Open chat safely as integration gets rid of vulnerabilities that come with the normal tech which are called bridges but Billions of dollars have been lost to bridge hacks so this will keep us safe and secure while simultaneously doing things other Blockchains are much further behind in doing.

Decentralized Social Media So I want to mention one of my favorite parts of the Ecosystem on The Internet Computer is the Decentralized Social Media apps as they give control back to the creator and gives everyone an equal opportunity to grow. Let’s take for example Distrikt is a social media app on The IC that is comparible to twitter as it has the same kind of layout and is fairly new so everyone gets a chance to be seen and heard by their perspective community while owning their content. Another cool Reddit like Social Media site is Called DSCVR (discover) has all of the fun of reddit without all the trolls and negativity but a community that truly supports one another as friends and like minded people with the same interests and goals. We love Icp and believe in the future of Web 3 and Decentralized Social Fi, Social Media as well as Defi and much, much more.

In Conclusion Social Media is Evolving in front of our very eyes and will have many more suprises in the coming months and years. Bringing Bitcoin to Social Fi as well as already having Icp working on Social Finance is a major step forward for the Dfinity Foundation, Icp Community and all of us Investors, Enthusiasts, Hodlers, 8 Year Gang and Social Influencers Alike will all Use these features with the Love and care that went into making it for us! So let’s wait for the Bitcoin Integration to be complete and then I will update you all on this amazing Technology that Leads the way in the forefront of Web 3 at Internet Speed!