It is hard to tell a missed opportunity until a vast period of time passed. For this reason, we have to look at things through a forecaster's eyes to be able to see whether it will work out.
To me, one of the biggest opportunities with Hive is that we have a decentralized text database that is available to us. These can be built at no direct cost other than having the available resource credits. At the same time, a front end can be constructed to pull the data.
This is a process we see done all over the Internet. The difference is the data is housed on servers owned or controlled by a particular company. Hence, the data is not free. Therefore, without immutable and transparent, we have the ability to manipulate.
And that is exactly what is done.
In this article we are going to discuss a grand opportunity for Hive that exemplifies what I am referring to.
Movie Lovers Are Being Misled
Over the years, sites such as International Movie Database (IMDB) and Rotten Tomatos served as guides for people researching movies. These had information on different films, along with television shows. Due to the two-way nature of Web 2.0, people were able to rate the movies (or shows) as well as leave comments.
So far everything looks good.
The problem is these are centralized databases. Someone is in full control of them. One entity at the forefront is Amazon. The company purchased IMDB years ago. That means a company that broadcasts films and shows, while also producing them, is in ownership of one of the largest information sites pertaining to that industry.
Does the phrase "conflict of interest" come to mind?
What are the chances that Amazon allows their productions to be openly slammed without doing anything? I would say none. Therefore, we can presume that it will leave comments and provide votes that position their works in a better light.
Here is a clear example where a lack of transparency is working to a companies advantage.
Of course, movie lovers are the ones who are paying the price due to being misled.
Find A Need And Fill It
As we can see, there is a major need here. We have sites that draw a lot of traffic yet we know a portion of the data is completely fabricated. Here is where blockchain provides a better solution.
This is where Hive comes in. It is one of the few blockchains that can offer this solution. To start, it does offer text storage above simply financial transactions. It does it without the need for a smart contract.
Another reason is the lack of transaction fees. When storing data, the idea of having to pay a fee for every entry, including updates, quickly becomes unworkable.
Therefore, Hive it is.
Naturally, something like this built would help to change the narrative around blockchain and, perhaps, cryptocurrency. We would see how there is utility in these networks. It could also serve as an onboarding tool since comments and voting would require a Hive account.
At the same time, all of this could be transparent since we already have polling on Hive. This was created by Leofinance. With that, all votes are registered so we can see who placed them. This could be incorporated into a product like this, providing the transparency that is lacking.
We also could do things such as limiting the votes to on per account. This would make manipulation that much more difficult.
In other words, there are a lot of features that could be added, making this a viable solution. For example, could comments be eligible for rewards through Hive's Proof-of-Brain (PoB)? Certainly that is another feature we could add.
As soon as we tap into this blockchain, all resident on the base layer is available.
IMDB On The Blockchain
How would something like this look?
It is really a simple premise.
The data would be loaded onto Hive through a series of posts. Each post would serve as the individual page for the movie, actor/actress, or show. Here we would place the relevant data including links to other articles on Hive pertaining to that topic. We know there are people writing reviews on CineTV which could be linked.
Suddenly, we are providing a greater value simply because we have reviews by ordinary people, i.e. the fans. In keeping with the nature of this database, the links are all on chain, hence providing full transparency.
It is amazing how much data and information is already available to us for a project like this.
Another key factor could be the creation of a website (or front end). This could be used to try and rank in the search engines. As always, linking would be crucial, both internal and external. Of course, if this becomes popular, it would be a way to tout it as a transparent alternative to what is out there.
As we know, the movie going and television watching population is huge.
In Conclusion
We know cryptocurrency gets all the attention. That is because most people are in it for the money and are not interested in building anything. It is a mindset that carried over to Hive. Even projects that are in operation tend to focus upon the tokenomics and not the technology.
It is something that people say tongue in cheek about being here for the technology but here is an example of where it does completely alter the landscape. We can see how review sites are much better served being on blockchain. The immutability and transparency offered makes these sites less likely to be gamed. Thus, people can have more trust in the information being provided.
Sometimes the best solutions are the simplest. If this an easy task? Absolutely not. However, it does bring a completely new level to the entire concept of rating or review sites.
If you found this article informative, please give an upvote and rehive.
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