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Blockchain Values Your Privacy More Than Facebook


Feb 2020
2907 Views 4 Minute Read
blockchain values your privacy more than facebook
People suffer from privacy when they use social networks. The events that involve both Facebook and Cambridge Analytica have staged a theme that we are not all aware of, and, if we are, we do not give it the importance it should have. What has happened has shown that the privacy of people is not handled with sufficient security and caution by the custodians of our information.
Both Facebook and Google, Twitter, and other large technology companies have long been collecting and monetizing the information of their millions of users. That is, their services are free for users because these are the product that generates interesting economic returns for them. This practice has been conveniently ignored by regulators since they also take advantage of this great source of information.
According to Facebook's use policies, that contract that all users irrevocably accept when making use of the platform establishes that any type of information that users share - photographs, text, videos, and more - automatically belongs to the platform and the company can use it according to its convenience. As we said before, sharing or selling this valuable user information represents an important source of income for this social network.
Mark Zuckerberg, CEO of Facebook, in his testimony at Capitol Hill, said: "We see Facebook as a platform for all ideas." There's nothing more untrue. Facebook blocks and censors content that violates its rules. Similarly, monitor private Messenger conversations between users. This social network maintains absolute control over the information that enters it at the expense of the users.
Blockchain values ​​your privacy more than Facebook
Fortunately, the progressive loss of privacy of users of social networks in particular, and the Internet in general, could be getting to an end. Unlike Facebook, which collects and links the data it receives from users with their identities, the blockchain allows the transmission and storage of data in an extremely secure way, without linking them to the user's real identity.
The distribution or decentralization model under which blockchain works offers users full sovereignty over their data without necessarily having to transfer their info to third parties. It also allows users to benefit from the information that belongs to them thanks to a system of monetary incentives based on cryptocurrencies or tokens.
The fairest thing for the user would be to have the opportunity to share their private information and receive financial compensation for it. Consumers own their data; they should take advantage of that.
Simply put, the blockchain stores data in a distributed way, that is, on hundreds or thousands of computers that are located throughout the world. These teams have an identical copy of the information that is protected by fragmentation techniques and advanced cryptographic algorithms, prioritizing the security and privacy of the user first and foremost.
The blockchain guarantees that an incident of theft of private information similar to that of Facebook and Cambridge Analytica cannot occur within this network because users enjoy the absolute ownership of the data they generate and have the power to decide with whom they share it and to what extent.
For example, a user could sell their data to a marketing company or some other platform that collects consumer information in exchange for reasonable and fair compensation. Under a centralized model, client-server, such as that operated by Facebook, Google, Twitter, and other platforms, this is practically impossible to achieve.
The 'big data' will be replaced by the 'tiny data'
big data to tiny data
As we said before, the big business of technology companies that operate online is to collect and store the information of their millions of users and sell it to different stakeholders. This great phenomenon of data collection on a global scale is known as 'big data'.
This great source of information has become the "wet dream" of those who engage in marketing because it allows them to know a lot of important information related to consumers firsthand. The 'big data' makes it possible for companies to know the consumer as never before in order to sell their products more effectively.
The application of blockchain technology to information management would make possible the emergence of an unprecedented phenomenon. Unlike its predecessor, the 'big data', which is based on a huge and centralized structure for the collection and processing of information, the so-called 'tiny data', would make it possible for information management to be in the hands of the users instead of the big corporations.
The 'tiny data' could become the same or much larger than the 'big data', with the big difference that users would receive compensation for the information they share with the world. Blockchain allows the elimination of intermediaries in the activities carried out by people. Therefore, the participation of Facebook or Google and other data processing intermediaries would no longer be necessary for users to interact with each other and share their information.
Most of the platforms that use distributed blockchain technology such as Steemit.com, Busy.org, Mastodon, Minds.com, Sociall.io, among others, are committed to eliminating the expensive intermediaries that benefit from the purchase and sale of User data.
Facebook and Google value user data. Blockchain values the participants.
facebook and google value user data
If users receive an adequate incentive, the nature of trust and security offered by the blockchain can help restore the power of the individual. Instead of a future in which we continue to depend on large multinational corporations and governments even to move a finger. Blockchain proposes a new alternative in which the individual enjoys complete sovereignty in many areas of his life. Sounds good, right?
In the near future, users are likely to start running away from centralized social networks such as Facebook or Twitter in search of more equitable and secure platforms. Blockchain developers from app development companies are committed to ensuring that this is achievable as soon as possible.
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Harnil Oza is the CEO & Founder of Hyperlink InfoSystem. With a passion for technology and an immaculate drive for entrepreneurship, Harnil has propelled Hyperlink InfoSystem to become a global pioneer in the world of innovative IT solutions. His exceptional leadership has inspired a multiverse of tech enthusiasts and also enabled thriving business expansion. His vision has helped the company achieve widespread respect for its remarkable track record of delivering beautifully constructed mobile apps, websites, and other products using every emerging technology. Outside his duties at Hyperlink InfoSystem, Harnil has earned a reputation for his conceptual leadership and initiatives in the tech industry. He is driven to impart expertise and insights to the forthcoming cohort of tech innovators. Harnil continues to champion growth, quality, and client satisfaction by fostering innovation and collaboration.

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