YouTube’s Crypto-purge Opens Discussions for a Decentralized Alternative

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Google has been known as an open admirer of blockchain technology and cryptocurrencies. Its former CEO, Eric Schmidt, has recently praised Bitcoin and termed it as amazing advancement while the current CEO of Alphabet Inc. Sundar Pichai said in a recent interview that he regularly mined Ethereum. However, the recent deletion of many cryptocurrencies and blockchain-related content by YouTube seems to have painted a story in a different light.

Earlier this year, Google decided to remove Bitcoin and cryptocurrency ads from its search engine that led to a massive fall in the value of Bitcoin. However, the ads were made available in September. The recent YouTube culling has been targeted towards the small content creators, while large crypto-related YouTube channels are working fine.

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Famous YouTuber Chris Dunn, with almost 210,000 subscribers, tweeted that every video that had a mention of cryptocurrency has been deleted by YouTube. Chris is not the only YouTuber affected by the crypto culling.  Another crypto expert channel Crypto Beadles that has 89.3 thousand subscribers tweeted complaining the same.  He tweeted,

Ambiguity

However, YouTube is yet to come with an official explanation about the deletion. Though it has replied on Twitter that the recent expunge has been done mistakenly, wild speculations have started in the crypto environment. Some crypto influencers have indicated that Google may target the websites with cryptocurrency and blockchain mentions next.

However, as per the latest events, YouTube has reportedly restored all the contents of some creators that have been deleted erroneously.

Call for an Alternative

There is no iota of doubt that YouTube is still one of the largest media of sharing content. It is ranked as the second-largest social media platform with more than 1.9 billion users. However, following the culling of crypto contents, the crypto community had called for the creation of a complete decentralized platform on the likes of LBRY. LBRY is a content-sharing platform based on blockchain technology with an option of monetizing content.

Naomi Brockwell, Host of a popular YouTube Channel NBTV, said that it’s high time the industry should look for an alternative. She said, “I haven’t been affected by the youTube ban yet, but I would just add that we’ve had alternative decentralized platforms like LBRY for a long time with limited support from YouTubers. Hopefully, this is a wakeup call.”

Changpeng Zhao, the founder and CEO of cryptocurrency exchange Binance, tweeted that following the culling of contents, the crypto community should consider creating a blockchain-enabled censorship-resistant social media platform.

TRON CEO and Founder, Justin Sun, retweeted Zhao’s tweet with a reply, “Posting your content through #BTFS and @BitTorrent. Although not as popular but it will exist on the internet forever and be available anytime, anywhere!”

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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