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In contrast, a blockchain-based social network would be operated based on pre-programmed rules that enable anyone who abides by these rules to participate. Any change to these rules requires the consent of multiple stakeholders, the process of enacting this change is transparent.

Blockchains are not simply about money. The modern-day alchemists who minted Bitcoin and other digital assets have animated a generation of technologists to reimagine how the financial and commercial world operates. The vision that these technologists aim to bring to fruition is not just about payment systems and other financial instruments. Large ... See more

In fact, these types of networks may be good candidates for progressive decentralization, i.e. build a network the usual way first and introduce tokens for community ownership, governance, and/or rewards later.

Crypto and blockchain-based applications aim to steer the web towards its original vision: an open network, based on public-domain protocols, controlled by no one. It promises to enable "decentralized" alternatives to the tech and government giants we all know and love.

The second major feature of blockchains is that they’re typically public and open source, meaning that unlike a Google spreadsheet, anyone can inspect a public blockchain’s code or see a record of any transaction. 

On the other hand, blockchains make it easy to assign property rights at a granular level (ownership of single lines of code) and automatically compensate the owners of said rights whenever their "assets" are being used.