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Down Big Tech issue arising: How Blockchain Social Media will Knockdown Zuckerberg

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Shivangi Mujumdar Follow

INDIA

Jan, 18 2021

Jan, 18 2021

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Big tech is not just big now. It is developed into a voracious Cthulhu-esque beast with its tentacles enfolded around almost each data point in our lives. 

 

But in the light of a House Judiciary report decisive that Facebook’s monopoly control is decisively fixed and unlikely to be tough by competitive force from new applicants or existing firms, can Blockchain-based social media collapse these social media powerhouses, given the unrestrained power these giants wield over companies and individuals? Even opening to test the authority of Facebook, Google and Apple appear a daunting, high-impossible task. 

 

The prospective for Blockchain-based social platforms is limitless, not least as it is firm to find a more broken method than social media, thanks to the way we have permitted these networks to progress. 

 

How did we get here? 

We did not understand primary that if you are not paying for the product, you are the product. We should have, as our parents long ago cautioned us there’s no such thing as a free lunch. 


But we fell more and further down the rabbit hole and came to love not having to pay for possessions online. 

While we were busy sharing pictures of our holidays and taking geography IQ challenges, Facebook originator Mark Zuckerberg was making wealth from our facts. He sold our outlines to sophisticated data mining firms like Cambridge Analytica to work our behavior and to impact the outcome of elections. 

 

Avoiding data breaches: 

Blockchain-based social media can benefit avoid these all-too-common data openings and leaks. Decentralized methods have no particular point of failure in the way centralized servers do, which aids to keep sensitive information markedly more secure. 

But decentralization is worthy of a lot more than stopping DDoS attacks. Blockchain-based social media can chip left at the power of big tech by giving power back to the individuals. 

 

Eradicating online advertising fraud: 

Centralized social media also has the main difficulty with fake accounts, bot traffic, and a swing of other fraudulent performs that price advertiser some $23 billion a year. 

The way present social media stages are set up is also abolishing local news and independent journalism, as per Salah Zalatimo, CEO of Voice tokenized social media policy. 

 

Transparent rules: 

This idea of transparency is a mutual thread among Blockchain-based social media plans. At Sapien, Bhatia points out the technology permits them to eradicate the middleman between creators and audiences and allow subscriptions, direct payments, and more. 


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Shivangi Mujumdar

CBW - External Analyst

INDIA

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