Social media platforms are constantly under fire for their lack of total end-to-end encryption, existing privacy policies and censorship – but a blockchain-based solution might spell the end to an era of centralized social media dominance.
In many ways, social media is a vital component of daily life for both businesses and the average consumer. Today, these platforms connect individuals with their desired type of content based on their own inputs. This streamlined feed being served to users leading them to the businesses waiting at the end, should be the perfect scenario. However, when it comes to distributing the rewards, the results are often incredibly skewed.
Algorithms constantly change to create new sources of revenue for the platform while disenfranchising users. Moreover, building these algorithms involves collecting mass amounts of data from individual users. Often, this can be just as invasive as it is effective.
Meanwhile, a complete right to freedom of speech is absent in most centralized platforms. By merely referring to the fine print in its Terms of Use, platforms can opt to police and censor comments from users.
The most crucial aspect of all is, perhaps, the need for encryption on platforms. Although most major social messaging platforms claim to have end-to-end encryption in place, they often require users to connect with a phone number. This compromises a user’s right to complete privacy.
Across platforms, these inherent problems come down to the fact...
Read Full Story: https://cointelegraph.com/news/how-the-bitcoin-model-can-solve-the-social-media-dilemma
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