Tags: courting | blockchain | bitcoin | companionship

Forget Tinder: Let's Use Blockchain to Find Your Perfect Match

Image: Forget Tinder: Let's Use Blockchain to Find Your Perfect Match
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By    |   Thursday, 08 Mar 2018 01:23 PM

Courting is part of the selection process people use in order to choose a partner, for a night or for a lifetime. That process could be as simple as marrying the boy or girl next door and living in the same house for a lifetime, or the process could be part of a concrete societal structure or tradition.

Formal arrangements such as marriage, as defined by law, have served to secure support for offspring and reduce competition for mates.

Until late in the last millennium, these arrangements were not made by the proposed partners, rather, by the families of the prospective couple. Weddings were the consummation of a business arrangement or contract—consideration paid with an exchange of value.

Livestock might be traded for a desired daughter, or a dowry might accompany a bride.

Courtship was arranged, approved and chaperoned as a precursor to marriage. Which children were paired often involved a “matchmaker.” This authority could be a family elder, but often was a village priest, cleric or rabbi.

Professional matchmakers included the Hindu astrologer, the Jewish shadchan, and the Romani people’s divinatory Tarot reader. In the twentieth century, courting (or rather, "dating") became an activity unto itself. Free from parental control, without the advice of elders and left to their own devices, young adults resorted to school functions, social gatherings and more recently to online dating services.

The most popular—Match, eHarmony, OKCupid and Tinder—use proprietary algorithms to suggest possible matches. Based on the data entered into the user’s profile, services operate in a fashion similar to Amazon’s method for suggesting product purchases. But on Match.com, less than 2% of messages sent by males receive a reply. They spend seven times more hours online looking for a date than dating.

Female users must consider their safety; a Pew Internet Study showed that 42% of females using Internet dating sites experienced harassment. When a match is made, it is only as good as the data the algorithm used to make the match. Half of online daters feel that potential love interests seriously misrepresented themselves. Photographs can be altered or airbrushed; education, accomplishments, and interests can be exaggerated, embellished or simply made-up.

Innovative technology is looking for a solution for the online dating trust problem. Ponder describes itself as “a game for playing matchmaker where you can win real money by making successful matches.” Ponder users are presented with profiles of both friends and strangers. The Ponder user may find a potential match or may choose to play matchmaker.

A successful match pays the matchmaker in “Ponder dollars” which can be converted into real dollars upon achievement of 10 matches. As with other online games, a user can gain an advantage over other players by upgrading to Ponder Gold tokens and then be shown the most active singles or best matchmakers. Upon completion of the current token sale, Ponder Gold holders will also be able to participate in Matchmaking Groups, which will take full advantage of blockchain consensus verification for assistance with the most probable matches.

The same technology that allows secure transactions between anonymous holders of bitcoin—blockchain—may hold promise for seekers of companionship.

As a blockchain distributed ledger allows verification of transactions between individuals unknown to each other, so too may blockchain be used to verify information on a dating site profile. As bitcoin pays miners for verifying transactions, so too can trusted individuals be paid for a consensus agreement on the identity and personality presented by an online dater.

One can never really know what to expect from another human being. But the experiences and opinions of trusted individuals can help reduce the possibility of dating disaster.

People who think alike, have the same interests, come from the same backgrounds and are of the same age can be valuable resources when deciding upon whether an introduction would be advantageous.

Such were the roles of matchmakers, but the matchmaker tradition has gone the way of chaperones and chastity belts. Familial relationships and religious counsel have been replaced by messaging applications and social media.

A new source of trusted advice and considered introductions is needed. Blockchain technology may replace traditional sources of matrimonial guidance just as cryptocurrency is moving to supplant government-issued currency.

Jim Hoffer is founder and managing director at Hoffer Financial Consulting. Follow him on Twitter.

© 2018 Newsmax Finance. All rights reserved.

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The same technology that allows secure transactions between anonymous holders of bitcoin—blockchain—may hold promise for seekers of companionship.
courting, blockchain, bitcoin, companionship
Thursday, 08 Mar 2018 01:23 PM
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