Blockchain Could Be A Solution To The Battle Social Media Users Faces Misuse Of Personal Data And Content
Blockchain might be an answer to the clash social media users face over misuse of personal information and content, RBC Capital Markets said March 21.
Talking to CNBC in the wake of the ongoing Facebook security scandal, RBC investigator Mitch Steves said Blockchain is “where we’re going long term” concerning information integument online.
“In the future, someone like yourself no longer has to give their photos to Facebook,” Steves told the network’s Fast Money segment.
“Instead, you could just share that photo specifically with people, and then you’d be able to track it and make sure it’s not shared with someone who gets access to your information.”
Same time Blockchain technology needs as such not aggravated inroads under standard social media technical setups committed Blockchain-based plan B to keep on going to appear, from dating networks to groups, for example, Steemit.
Likewise, Steves notes, however, to the extent that the technology offers transparency, Facebook users might even now not have full power over how their information spreads crosswise over the internet.
“The one problem that it does not solve is that it does not allow you to stop it,” he proceeded something like third parties offering content which unwittingly got to be open to them through a user’s privacy settings.
“Let’s say Facebook decided to sell your photo to some advertiser… you would be able to see that that transaction happened but you would not be able to prevent that transaction from occurring in the first place.”
Over what might right away a chance to be seen with an insight into irony, in January, Facebook banned cryptocurrency promotions all around its platform through the thing that it depicted similarly as “deceptive promotional practices.”