The Cambridge Analytica Scandal. How to prevent?

The Cambridge Analytica Scandal. How to prevent?

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In this post, we are not discussing Cambridge analytical scandal instead How we will prevent this with the help of blockchain technology. Cambridge analytical and Facebook is at the center of an ongoing dispute over the alleged harvesting and use of personal data.

data security and data leakage.

‘If you are not part of the solution, you must be part of the problem’?

I don’t want to be part of the problem. I always want to find some sort of solution either you have some preventive solution or some full proof concrete solution. We shouldn’t be part of a problem, but we should have some strong understanding of the problem then you will come to know How to solve this one? A solution wouldn’t be found in one step. Finding a solution is an iterative process.

“The first rule on breaking a rule is to know everything about the rule.” — Nuno Roque

A dark side of social media:-

I don’t want to blame social media. There are really great and good impact and change happen due to extensive use of social media. The role of social media, in the Arab Spring, has been extensively debated. There are huge political, social changes happen in the world due to social media.

Social networks these days are anything but the opposite of the decentralized approach. From time to time Social networks have also shown us the dark and ugly side of it. Though most social media are free to sign up and use it, it comes with a price. Some serious issues with social media right now are unethical social experiments, Identity theft, Privacy issues, and few more. Users hand over their personal details on it willingly and social media also track cookies, locations, behaviors and search preferences mostly without users’ knowledge. This might be very destructive in the wrong hands.

As an Indian businessman want our own social networking company. Maybe everyone wants there own social networking site. Data is a precise resource. Data is a fuel of the 21st century, but who is the owner and how we will use this data. AI/ ML process is fueled by data, but which set of stakeholder own this data.

It’s not clear which parties would be held accountable when something goes wrong with a data. Who bears the risk? Who is responsible and who pays for damages?. If something is free didn’t mean that it is healthy. The owner of a data is only the accountable one.

Remember that social networking sites are owned by private businesses and that they make their money by collecting data about individuals and selling that data on, particularly to third party advertisers. When you enter a social networking site, you are leaving the freedoms of the internet behind and are entering a network that is governed and ruled by the owners of the site. Privacy settings are only meant to protect you from other members of the social network, but they do not shield your data from the owners of the service. Essentially you are giving all your data over to the owners and trusting them with it.

BlockChain for social networking:-

It is a game-changing technology!! Here we will discuss How this will be fit for social networking. As blockchain is based on a decentralized approach, there is no central entity controlling or collecting data from the other connections on the network. With the absence of a centralized server monitoring over every activity, users can now make use, share and communicate more freely knowing that the network is at its most secure. This is the peer to peer network. The ownership of a data is the only user.

We can combine social networking with blockchain and give ownership of data to the individual user that solves major data leakage problem.

Here are some blockchain based popular social networking sites.

  1. Obsidian Messenger
  2. Nexus
  3. Indorse
  4. Synereo
  5. Steemit
  6. Golos
  7. E-chat
  8. Akasha

The future of social media is decentralization. Changing the business model of social media will be an interesting challenge. Blockchain technology can effectively remove the “middlemen” from the equation. Additionally, the users themselves will retain access to their data at all times, which is well worth looking into. There is no longer a need for centralized servers.

Social networks are now so well established, here are some figures of social networks in 2017.

  • Global users: 2.8 billion
  • Advertising revenue: 41 billion (USD)
  • Time spent: 2 hours and 19 minutes (daily)
  • Snapchat hits: 10 billion daily video views
  • Social media ad spend surpasses TV

The statics shows that social media has a huge impact on humans daily life.

Data is a precious thing and will last longer than the systems themselves. Data is everything and the race between the big tech companies are based on the data that they have. Data privacy rules are there but rules are breakable. I think blockchain based social networking is the best solution.

Greatest value of an online company lay in the consumer data it collected.

There is a lot more to explore in blockchain based social networking, here is only the outline of it.

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