The recent scandal of Facebook and Cambridge Analytica has opened our eyes to a huge privacy concern. The issue is the government-enabling of de facto monopolies of our collective, personal information.
For a very long time these companies have been monetizing information. All of this talk about digital media and privacy laws and the regulators have nothing but turned a blind eye to it. This was super convenient until the scandal broke out.
Well, it’s hard to say the practices of Cambridge Analytica were illegal and downright scandalous. Considering that Facebook happily gave their blessings! Until all hell broke lose and the tech-giant found itself in the crosshairs of court.
Honestly, they had it coming! But, what is the matter of real concern? How these tech-giants care so little about the user’s privacy.
Facebook Polices are Crystal Clear
Facebook is crystal clear about their policies, if you’re using their services then they own all the activities and information on their platform. The pictures you posted last night? Facebook owns it my friend. All the products you have. The number of times you “liked” a service or product? All that information was most probably sold to the highest advertising bidder.
The truth? No user data is untouchable. Sharing and selling the data to all the hungry-advertisers is the real business. At the most, privacy plays a very tiny role in the company decision making process.
Blockchain Technology Saves the Day
It is ironic how privacy nightmares are in the spotlight, while identity theft services are popular than ever before. What is really happening? There is a conflict of who owns what. Your personal information and others in your network, is shamelessly gathered by social media platforms. It’s just a price you one has to pay. For many users it’s a perverse violation of their unconditional trust in social media platforms.
But, we are lucky! All these malicious acts don’t take place in vacuum. There are other alternatives that can separate the identity of the users from their data. The blockchain technology separates the identity from the overall information which is of use to the advertisers (preferences, demographics, habits.)
Privacy a Priority
The decentralization technology keeps giving us reasons to love it more and more. It gives us full power over our own data and the ability to benefit from sharing it. All thanks to an integrated model in the form of cryptocurrency, monetary rewards and tokens. It will be all up-to how you want to monetize your data, isn’t that cool?
After Facebooks malicious data collection practices, regaining control of data is not mission impossible anymore. All the tech-giants continue to rationalize their data collecting practices and privacy violations for providing free and better services to its users. However, the blockchain services values only their participants. Yes, yes. That’s us! We add value to the associated services. It will give rise a new-era of elf-sovereignty. More power to us!
The eyes of the world have been upon to the deception and lies of Facebook. If there are no stronger regulations and rules that benefit the participants and not the big-tech companies. Its highly likely more individuals will start to flee the social media websites for better platforms.
Keeping in mind, the recent ban on the advertisements of blockchain based services are a proof that Facebook feels threatened and might be shitting their pants. As the users shift their take control in their own hands and make much more woke decisions by recognizing the limitations of the tech-giants.