Content Generation in Web 3.0 and Blockchain-Based Decentralized Social Networks: A Theoretical Adoption Framework

An increase in the number of individuals generating digital content and building large online communities with massive followings, as well as in the virtual cooperation and collaborative projects, have contributed towards exponential growth of sharing economy. Today majority cooperation occurs via social media platforms, like Facebook, Slack, Discord and Twitter etc. With technological disruptive innovations, there is a need for flexible standards for workplace environments, since future generations, notably Gen-Z, may not approve of rigid work and earning paradigm established by their parents and grandparents. Hence, it is becoming a challenge for innovators to strike a balance between autonomy and collaboration in online social communities. Furthermore, in absence of social and technological interoperability standards (Web 3.0), it is possible that social networks based on Web 2.0 platforms will soon become irrelevant. Therefore, a theoretical framework based on Web 3.0 platform and Blockchain technology is presented in this paper for decentralized social networks. The proposed framework would improve interoperability standards, alternative revenue streams and provide flexibility to the users and content creators of social networking platforms and online communities.