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What is Blockchain Technology?

Many are unaware of this term and what it represents. Some of the people, who have heard of it, think it is a new internet. Is it really? It is, without any doubt, an invention that is ingenious. Over time, this technology evolved and people started asking about it. They wanted to know what it is and why is it getting so much recognition.

How Does It Work?

What blockchain technology does is it creates a part of a new kind of internet. It doesn’t copy digital information, it distributes it. In the beginning, it was created for Bitcoin. Nowadays, the technology community has found more potential in it. Everybody has heard of Bitcoin, it is so-called “digital gold”. Its currency is about $112 billion US. Blockchain is able to make different kinds of digital value. However, you don’t really need to know how it works. You can use it without that knowledge, like the internet. Still, it can’t harm you to know a little about it. This technology is thought of as revolutionary, and since 2018, blockchain developers are in high demand. They are using blockchain technology and algorithms to develop social media networking applications based on user behaviours.

Robustness and Durability of Blockchain

When it comes to its durability, blockchain technology won’t fail. It cannot be in a control of one entity. Since the Bitcoin was invented, in 2008, its blockchain didn’t have problems with operating. It there was any malfunction, it was due to mismanagement or hacking. The concept itself wasn’t causing disruption, human mistake and bad intention were. What blockchain does is it solves the issue of manipulation.

Robustness and Durability of Blockchain

Security With Blockchain

Everyone worries about their safety and privacy because they know how easy it is to get hacked or tricked. The security with blockchain is enhanced and there is no risk when it comes to your data. Blockchain stores the data around its network. You are at risk when the data is stored centrally which is exactly what this technology avoids. Most of the people rely on their username or password, but that is not a reliable option. That type of system is not enough to protect us. Security method that blockchain is using is encryption technology.

Impact of Social Media

Emerge of social media has influenced communication and information technology. Mobile devices are dominant and people spent the most time online via them. With the help of mobile technology, everyone can connect at any place or time. There are many reasons why people have the need to share information. Some of them want to build a certain image, engage with others and keep in touch, or to get involved in the world’s happenings. No matter what the reasons are, they helped social networks in evolving. Nowadays, they can have a real effect on society regarding many questions. Technology is using blockchain technology and algorithms to develop social media networking applications based on user behaviours. What comes next, are the impacts of social media on people and their lives.

Social media

The Effect on Politics

More than half of the percent of the population gets all the information from social media. The influence of social media on politics has tremendously increased. Now, they play a big and quite an important role.

The Effect on Society

There is no doubt it made a great impact on society and its everyday life. For example, Facebook users are a quarter of the population in the world. On this platform, anyone can find people that share the same interests and opinions. It enables people to find someone similar to them with whom they can interact. This is much harder to do in real life. However, it does affect real activism by turning into “slacktivism”. People express their concern, but they don’t engage in social issues. They are not active since they only share contents and press on the “Like” button.

The Effect on Development and Training

Social media has become a tool for learning and a number of educational institutions are using Facebook, Twiter, Blogs, LinkedIn and wiki for that purpose. People believe that sharing on social media plays an important role in encouraging interaction. Thus, it provides an environment which affects learning.

The Effect on Moral of People

Social media promotes positive changes but affects social ills as well. One of those ills is cyberbullying that has no extent. Teenagers are using this platform for negative purposes. They insult others, share false rumours and so on. All of that is pressuring them to grow up way too fast in such online world. Their need to fit in and be popular extends to using social media as a tool for that. Besides this, there is also a lack of privacy. There are many threats to users of social media, such as personal attacks, stalking or identity theft. On the other hand, it is the users own mistake when they share contents they shouldn’t.

Achieved Results in 2018.

MOKO made a strategic decision in a previous year and the results are positive. They wanted to solely focus on one part and to neglect everything else. The decision was to put US student market in first place. Their intention was to stop concentrating on other categories of business and put all the work into one. That plan turned out to be successful. They didn’t spend time on different categories because it would take their time. In the end, results would be partial and unsatisfying. By concentrating on only one specific market, they were able to investigate more. MOKO reached out and understood the demands of this certain market.

Expanding

The exposure of MOKO increased quite a lot. The exposure went up to over than half of population which includes US college students. In a period of six months, 125 new colleges were added to their list. Another highlight was the execution of a marketing partnership. It was ‘REC*IT first partnership with an important US brand. That move enhanced the name MOKO even more. New partnerships are waiting to be executed. Other brands are getting interested and that will lead to even more satisfying results in the near future.

Future Goals

MOKO has gotten a lot of proposals and they are reviewing them all as well as all possible options. Their aim is to enhance the value of the shareholders, so they can execute their strategy. MOKO made a strong foothold in the colleges of US and in highschools too. That market is giving them a good response and new opportunities. They plan to spread their foothold and make even better results using blockchain technology and algorithms to develop social media networking applications based on user behaviours.

Future Goals

A Decrease in Total Expense

The only thing that decreased was its total expense. It lowered by 5% to $20.1m. Marketing made reductions as well as the benefit expenses for employees. In a previous year, net cash that was used for operations estimated $14.8m. This year, that amount dropped to $12.9m which is a significant difference. MOKO is not stopping when it comes to finding new and improved strategies. There are a lot of more options that they are taking into consideration. These numbers showed there is always room for improvement and enhancement.

New Ideas

MOKO commenced with another app which should help in managing recreational programs and facilities. App making is in the process and they are paying attention to every detail. After this one is finished, MOKO has a few more as sketches. Upcoming apps are not finished and they are yet to be thoroughly planned. There are more different ideas that are discussed. In the end, MOKO might choose only one app to launch, if they find it appropriate. There is a big possibility that the company will launch more apps at once, according to their chairman. He says they are bringing even more innovations and one might not be enough. He continues that the presented ideas are various but equally good and efficient. Therefore, the results in the upcoming years might be even more surprising and satisfying than in this one.