When most people think of cryptocurrencies, they think of Bitcoin, Ethereum and blockchain platforms that allow decentralized autonomous applications to operate.
The true value of cryptocurrencies lies in the decentralization and independence provided to the people. But the market focuses on something entirely different from that, due to being controlled by big firms, political decisions, and operators.
But with the inception of cryptocurrency in our lives, more and more people have begun to depend on it. The phenomenon has put a huge dent in the universe, and the world market is sure to change as a result. It has disrupted the established, organized system in which the world was working by giving a platform to the risk takers and bold investors waiting to try their hand out at investing in a market which was not being controlled by any one entity.
The end of 2017 saw the rise of cryptocurrency in the mainstream and with that came a large discussion of its utility as a commodity and a currency.
Here’s LeapRate’s recent conversation with Edwin Dearborn, CMO at e-Chat, who gives his expert commentary on can cryptocurrency be made social.
LR: How do you create a social media infrastructure built around cryptocurrency?
Edwin: Social media is about connecting with real people and sharing with them content that has value. Moreover, social media has not evolved, as we have witnessed with Facebook Messenger, with chat capabilities.
I believe that this social media ecosystem can be tapped into by rewarding this activity with cryptocurrency capabilities. By storing their cryptocurrency on the same chat app, they can share and earn at the same time.
LR: What does that look like and how is it different than social groups around a shared interest?
Edwin: The cryptocurrency boom has given us a new opportunity to reach out to those people that want to get involved and are not sure where to begin. e-Chat, for example, offers a platform to begin investing, safekeeping, sharing, and spending their cryptocurrency around a social platform.
LR: Could cryptocurrency become the impotence for a new social networking platform?
Edwin: Absolutely! Anytime there is an activity that offers opportunity and connecting with like-minded people, there will always be massive opportunity. We have yet to see the power and influence of cryptocurrency and blockchain technology in our daily lives.
LR: Is social media and especially sharing safe enough for cryptocurrency owners?
Edwin: Yes, but it is going to be a challenge. This is another aspect of why Blockchain technology is critical to the success of cryptocurrency with its decentralized model. Verification of funds will be much easier than traditional technologies.
Edwin Dearborn is the CMO at e-Chat and CEO at Premiere Lead Systems. He has taught sales and traditional marketing topics in the executive coaching field for more than 25 years. Dearborn is a well-known figure in the world digital marketing as hundreds of CEOs, CPAs, doctors, local small business owners and entrepreneurs from across the U.S. completed professional courses led by him.