WordPress as a content management system has had to contend with the rise and popularity of blockchain technologies as a disruptive innovation. After all is said and done, the fact remains that in the world of technology, there are so many interactions which if ignored can prove to be disastrous.
As a content management system, WordPress has become the de-facto standard for building web applications. There exists a plugin for pretty much everything you want to do under the sun. Blockchain technology on the other hand is still in its infancy. Although the acceptance rate of new technology has more than tripled over the past decade or so, the usage on a larger scale is yet to be at the rate at which the acceptance has been growing. WordPress is globally accepted technology, while blockchain technologies are relatively new.
On one hand, centralized technologies have been ruling the internet for decades and will continue to rule the internet for many more decades. The full extent to which blockchain technologies can be trusted to deliver the gains which centralized technologies have been doing for the greater part of the history of computing is not yet completely clear. However, a critical look at the relationship between blockchain technology and WordPress as a content management system standard shall be taken into view before a verdict is given.
Use of blockchain technology in payments
This of course is the most recognized and primal usage of blockchain technology. The first example of blockchain technology in action is of course bitcoin which has gained notoriety all over the globe due to the pseudonymous nature of transactions which are difficult to track. The use of blockchain as a means of payment has made the payment for goods and services to become somewhat universal as there are no national hurdles to cross when it comes to blockchain technology. The only problem which exists is the transaction speed as the confirmations required for a transaction to become permanent takes some time. However, there are several unique solutions which are currently being proposed to several forms of blockchain technology that will address this. In terms of scalability, blockchain technology has outperformed many other emerging technologies and is still outperforming others since several blockchains are doing well on an enterprise scale globally.
Use of plugins for payment
Because WordPress is the most popular content management system on the internet, it should come as no surprise that there is a plugin for everything under the sun; blockchain technology included. This is because as more and more people use a certain technology, others see the opportunity to provide solutions based on the need and they do so. With the most obvious use of blockchain technology in payment systems, most of the plugins which exist in the WordPress ecosystem are used to integrate WordPress sites to popular cryptocurrency blockchains. Bitmate is one such plugin which allows for donations via bitcoin for authors and others who publish content. So, if you’re looking for donations for your published content, then you might consider using this plugin.
Due to the decentralized nature of blockchain technology applications, it is quite possible to build a content publishing platform which would not be centrally hosted on a single server; rather such a platform would be spread across the internet. The advantages of having such to occur are immense since information dissemination would now occur faster than previously expected.
However, information exchanges which cannot be overseen or detected by central authorities or governments in question would only lead to anarchy and social chaos. The technology could revolutionize the way we see information exchange. A good example of blockchain technology in information exchange is the use of proxeus workflow platform (https://proxeus.com/en/).
WordPress can integrate all its processes into a blockchain and everything would just take care of itself from there. The downside however, is that all blockchain technologies for now are finite. This is since tokens do not multiply forever. This will reduce their value as time elapses. Until that hurdle is crossed, most publishing of content will occur on centralized systems.
The Universal Nature of Payments
Due to the fact that restrictions exist all over the world when it comes to the control of fiat money, payments all across the world are not exactly seamless and as such lots of middlemen from credit card companies to electronic payment systems like Paypal take a chunk of huge transfer fees and they often become the ones who dictate the rules of the financial ecosystem globally. However, blockchain technology has changed all of that since payments on blockchain payment systems are peer to peer, it then means that the middlemen don’t get a cut of the transactions which they were formally doing. This has led to lower transfer fees and more global inclusion in the process. The backlash by the traditional corporate and governmental community has been overwhelming. This kind of response would only serve to slow down the inevitable. Blockchain technology at least in terms of payments for now has come to stay. When it comes to WordPress this is good because WordPress users the world over can use bitcoin to accept payments for the products or services which they may be selling.
Securing authentication data
Sensitive pieces of information used in accessing secure areas of websites such as login data and passwords can be stored in a blockchain. This is because the relative security stability of blockchain technology. This can work well in WordPress; helping the users to secure their access credentials via blockchain which is impossible to hack. There exists zero chance of a successful bruteforece attack and such a blockchain can minimize the risks of having a system compromise due to the existence of faulty software that produces bugs which are fully exploitable by malicious persons. This would be a game changer for users of WordPress as the two technologies can complement one another in this regard.
Blockchain Storage Solutions
As of today, most centralized storage systems have served enterprise applications with huge cloud-based allocations of storage space. While this has gone on well for the time being, hackers are always looking for new ways to be able to have access to enterprise data. This kind of access is every malicious individual’s dream. Use of blockchain to uniquely store data in a decentralized format presents the perfect solution to this problem. The use of blockchain based storage solutions will also take care of the wastage of unused space as such spaces can always be rented out to others on a use per use basis. An example of such technology inaction is the storj project (https://storj.io/index.html) which has been able to do this successfully to some degree. WordPress can actually integrate this kind of service in order to lower the cost of hosting and also to store files more securely as well. The downside to this is the slow processing times currently experienced by users of blockchain technology. However, things are starting to change with the implementation of new forms of blockchain technology which can process transactions faster and more efficiently.
Improved Information Flow
Blockchain technologies are known to possess improved information flow due to the interactions of the public ledger system which confirms the data sent across. With the improvement of information flow, feedback mechanisms provide a unique way to improve processes which hitherto were untrustworthy at best. The implications of such would be in democratic and other social scenarios that involve the use of voting to enforce decision making across the board. When it comes to WordPress, lots of things could be democratized using blockchain technology. From polls to competitions online, blockchain offers the best bet of a truly interactive yet secure transparent process.
When it comes to decisions of this nature, it can be said that there is no truly right verdict and wrong verdict. WordPress and blockchain technology will exist side by side until something new comes up as it always does. So yes, WordPress and blockchain technology are friends. As humanity advances into the future, there will come cooler and better technologies which will even eclipse these two. Use them while you can!
Do you think that blockchain technology and WordPress are friends? Do you think otherwise? Why so? Please make sure to let us know why in the comments!