October 27, 2020 | AtoZ Markets – The number of people using dating sites and applications is growing every year. People are increasingly choosing to meet potential couples on special online platforms, rather than on social media or random bars and restaurants. As a result, the number of broken hearts is also on the rise through exploiting the user’s feelings. The official website iwantu shares with us their thoughts on why they plan to implement blockchain on their platform and how it will affect on security and trust of users
1# The lack of trust in dating
Although Internet dating is fairly recent - the first commercial site was released in the mid-90s - it has become a phenomenon. Around one-in-three relationships were instigated in the virtual environment. But there have always been recurring issues, such as security concerns or data breaches, that have created a reluctance to commit to dating sites. A common grievance is fake accounts. Daters require transparency and trust - these are integral to forming relationships with strangers who initially appear as little more than a username and a series of pixelated images. Developing a bond requires openness and honesty, although some site users display neither characteristic. As well as fraud protection, site members require data privacy. There have been instances where information such as bank passwords have been illegally accessed.
2# Blockchain can provide clarity
So where can blockchain create the necessary safeguards to give daters the confidence to make the most of online services? It’s important to understand how the technology operates. Blockchain has been developed as a centralized ledger system, most notably for cryptocurrencies. But it can be utilized for so much more than streamlining financial transactions. It is increasingly being used to solve many of these issues in online dating.
Blockchain was developed on the principal ideas of transparency and reliability, and these factors are key when it comes to verifying user identities while maintaining privacy. With dating sites, users can exchange personal information that must remain anonymous for the integrity of the platform. But it can easily be verified on a chain, making identities simple to validate. The operating system employed by Blockchain ensures accurate representation of dating profiles through this validation, creating incentives for positive behavior, and increasing user confidence. Once this foundation has been established, more singles will feel comfortable about uploading their personal details to become members of dating sites.
3# Less chances to be cheated
The reason the blockchain system is so applicable to finance is the same reason that applies to its application to provide security with dating outlets: decentralization. There can be an imbalance in platforms, with many of them having more male members. This creates a lot of competition, with fewer female site users to find matches with, resulting in messages remaining unanswered. Blockchain systems will introduce a tokenized dating economy, balancing this male-to-female ratio. Everyone will enjoy a similarly positive dating experience.
The decentralized nature of blockchain systems means the matchmaking process can enjoy higher privacy levels, leaving daters to get familiar at their own pace. This also introduces increased security layers, because these have a lower risk of accidentally failing. Anti-social site users will find it more expensive to manipulate or attack websites designed in this way, removing the incentive to access these sites for fraudulent reasons. Decentralized systems have a lack of sensitive central points that can be exploited by hackers.
Using the components of cryptocurrency that can offer rewards, Blockchain can further enhance online dating by introducing ‘gamifying.’ How would this work in practical terms? It would be straightforward. Token payments could be incorporated to incentivize good behavior on the site. This might include members putting time and effort into creating an attractive profile, one that would encourage more interaction from other site users. Extrapolated throughout the service, this would increase the likelihood of matches being achieved across the board. In turn, this will boost the website’s reputation as a recommended source for discovering prospective partners.
Conversely, site users could also be penalized for negative activities, such as reneging on a prearranged date. Tokens could be held before the date, then kept in the event of one site user standing up another.
Think we missed something? Let us know in the comment section below.