The blockchain is certainly considered as the future of technology. It is a digital system that works without a central server or administrator that powers cryptocurrency networks and other transactions and capable of doing much more than that. It has no border or restrictions and allows data to flow freely from one point to another. Due to the lesser number of administrative entities, it has lesser transaction fees. It gives users absolute freedom over their data, activities and as a result they can truly democratize the internet. It builds more transparent and open portals because it is totally open to the public.
2. INTRODUCTION
The blockchain is certainly considered as the future of technology. It is a digital system that works
without a central server or administrator that powers cryptocurrency networks and other transactions
and capable of doing much more than that. It has no border or restrictions and allows data to flow freely
from one point to another. Due to the lesser number of administrative entities, it has lesser transaction
fees. It gives users absolute freedom over their data, activities and as a result they can truly democratize
the internet. It builds more transparent and open portals because it is totally open to the public.
WordPress, the most popular content management system can also get affected by Blockchain
technology. There are already many WordPress plugins that allow website owners to accept payments
via Bitcoin and cryptocurrency. It is much more than that of a payment gateway solution and is made
possible only because of the use of Blockchain. There are many other things a Blockchain technology do
for WordPress Customization and Development.
3. Democratize Publishing
Even though WordPress was initially started as a blogging platform, it has emerged as one of the best
solutions that helps publishers create great content on the web. While WordPress allows the user to
host their own your content Blockchain technology creates a more democratic publishing environment.
By integrating WordPress with Blockchain allows the users to post the content in their own unique way
and thereby achieve a wider audience.
Easier Payment
Dealing with the intermediaries while accepting and processing payments from visitors on their sites
sometimes pose a headache for the person. This kind of situation can be observed in the majority of the
business such as the software industry, extensions etc. However, Blockchain technology cut down the
role of middlemen in the payment process and thereby allows the business to earn digital customers
from countries across the globe. And hence Blockchain is famed as a universal solution and better
method for accepting payments.
4. Better Security
The blockchain is used to harden and encrypt data and it improves the overall security of the WordPress
site. For instance, when it comes to the blockchain, all the data can be stored in an encrypted format,
which enhances an extra layer of protection. More, the verification through this block chain techniques
reduces the chances of threats and security breaches. This is actually an extra bonus for WordPress
users because this technology can be used to improve the security of their sites.
Better Feedback
It allows users to provide better feedback to the webmaster. Besides, it is used to empower the
electoral process online in a large scale. By implementing the Blockchain system, concepts like online
polls, quizzes can be easily implemented. They offer better responses and greater involvement.
5. Identity Management & Verification
Verifying online identity is one of the major problems in today’s world. Its major weakness is that its
username and password is too long for the web. Cracking the password is a common way to hack a
WordPress site. To beat this, there are a number of new Blockchain systems are developed to encrypt
personal information and their users can selectively share the data. This can be used to login apps and
securely share personal information with employers.
ShoCard is the example of the Blockchain application; It can make numerous single signs for the app.
This kind of program demonstrates secure multifactor authentication of the current solution. Sending
codes via SMS is one of the major examples; they have a lot of benefits like WordPress to improve the
security of the login process.
IBM is partnering with Canadian bank on a pilot program in developing Blockchain which improves
security, user experience for identity management of customers. This technology is mainly used in banks,
and in turn, reduce the risk of hacked passwords and fraudulent payment.
6. Easy payment
Every user has to deal with a lot of intermediaries when accepting and processing payments from
visitors on their website. It mainly implements a person who sells digital goods like software and
extensions; there are no items to be shipped. And the result, the sellers gain their income through
multiple gateway solutions.
However, applying Blockchain can cut down the role of many middlemen in their payment method.
It helps digital publishers gain more customers from different countries which may support payment
gateways like PayPal. For these prime reasons, Blockchain got famed as universal and is a very useful
method for accepting payments.
Content Monetization
Recently it is announced that the Blockchain system is going to add the clap button, which is quite
similar to the like button, to the article. And it is a part of the algorithm to make good content. Finding a
good way of displaying ads and to compensate content creators is definitely a challenge for the web.
Content creators based on algorithm takes account of page views, likes and another number of factors
which is a good idea.
7. It is implementing to a single site, distributing network is more challenging. The old content monetization
services include WordAds, AdSense, etc requires a central trusted entity to define the algorithm, operate
the servers and handle payments. Blockchains are designed, distributed and more trust less, as
Blockchain-based content monetization service does not require a single trusted entity at the center.
Importantly, the system governance needs to be designed and its algorithm was more optimized for
every stakeholder. Potential is needed to remove ads totally from content monetization which is exciting
and also it would require valuable data and money.
8. Click here to read more about : Impact of Blockchain on WordPress
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