Ever since its inception, it was clear that blockchain has the potential to disrupt many industries. We can see the impact of Blockchain will be vast.
Although it’s primarily associated with Bitcoin and other cryptocurrencies, this advanced technology has found widespread use in many other industries including healthcare, critical infrastructure, education, cloud storage, to name just a few.
Given that WordPress is one of the most popular Content Management Systems, it’s logical that it won’t be unaffected by this decentralized digital ledger technology.
Here’s how WordPress can benefit from the blockchain.
Improve Identity Management And Overall Website Security
Online identity verification can be challenging for different reasons, and weak passwords are one of them.
With the help of blockchain, all credentials used for accessing a WordPress site will be encrypted. This encryption creates an extra layer of protection and ensures that both the login information as well as any sensitive content is safe from potential security breaches.
In other words, websites that store users’ data and login details can use blockchain technology to reduce the odds of security breaches and safety threats. Bigger websites store data remotely, which is a great solution for improving scalability. However, traditional cloud storage is centralized, and as such vulnerable to security threats. By adding blockchain to the equation, the cloud becomes practically fortified as data is stored across different locations. The servers, that is nodes, are individual computers instead of a single company.
This B2B principle relies on a decentralized network of users who get incentives to store and keep data accessible.
Given that there’s a cyber attack every 39 seconds, it’s clear that webmasters can safeguard their websites with the help of blockchain.
Democratize Content Publishing
Being an open-source platform, WordPress has already given content creators, editors, and publishers a significant amount of freedom, as they can host and own their content. Without worrying that it will at a certain point be deleted by WP.org.
Smart contracts bring numerous benefits to digital publishing. They’re immutable and impossible to be tampered with, which means that the information in such a document is transparent and controlled by both parties.
For example, a WP blockchain-based plugin WordProof Timestamp allows users to add a timestamp to their content and pages, thus claiming ownership and demonstrating transparency.
Similarly, blockchain technology can help in securing your code and other types of intellectual property.
This transparency of records makes blockchain technology perfect for monitoring document history – it’s possible to track changes within every single piece and see who made them.
Blockchain and smart contracts can be used to facilitate content submitting and payments – once the commissioner receives a piece of content and marks it as accepted, payment can be automatically initialized.
Allow for Providing Better Feedback
Website owners and webmasters can greatly benefit from implementing blockchain technology as it allows users to provide better feedback.
Different quizzes, polls, and surveys can be implemented via blockchain, as they result in greater involvement and more accurate responses. It’s particularly important to leverage this technology if you want to make sure that your users’ identity and anonymity.
If we bear in mind that online reviews are of vital importance for the success of any e-commerce, it’s worth mentioning that WooCommerce (which is basically a WordPress e-commerce plugin) has a great solution for ensuring that these reviews are genuine and authentic. The Rebusify Confidence System is a blockchain-based plugin that makes sure that all reviews are immutable and posted by actual customers.
Facilitate Payments
Website owners who sell something online or run an eCommerce store, have to deal with numerous payment challenges.
First of all, blockchain technology eliminates the need for intermediaries, that is, banks and financial services. These middlemen complicate the entire payment process and make it more expensive as they charge fees for authorizing transactions.
In the case of blockchain, all payments can be carried between interested parties only, without any involvement from unnecessary intermediaries.
Another important advantage of this kind of payment model is that it can enable users/customers from different countries to purchase digital or physical goods. Namely, not all countries support PayPal, for example, and with a blockchain solution, this obstacle can be overcome. What’s even better, this system is applicable to both payments made in cryptocurrency or traditional money.
Monetize Content Creation
Blockchain is also set to revolutionize content accountability and quality.
For example, a digital, decentralized public ledger can keep track of the content ownership and date when each individual entry was originally uploaded – this can help fight piracy and plagiarism on the internet.
As of recently, a clap button can be added to a blog post or any type of content. This blockchain system has the purpose of building the algorithm that will ensure high-quality content and compensate its creators. Different factors are taken into considerations, so page views, likes, shares, to name a few of them, play an important role in the process.
With the emergence of microtransactions, this kind of monetization has been made possible. So, a creator will receive a small amount of money – usually less than a cent instead of a like on a social media platform. This system can help high-quality, relevant content to cut through the noise.
A synergy of WordPress and blockchain can pave the way to a more free internet, better content, and safer and more affordable financial transactions.
