Facebook off late seems to have caught itself in a lot of problems, and this seems to have caused a lot of trust issues among users worldwide. With Mr. Zuckerberg being questioned by the Congress of his company’s actions, Facebook has been making news for all the wrong reasons. It has become clear to everyone that Facebook is not only the undisputed social media leader. It’s also a media company, a data broker, and an ad network. Which poses quite a few problems when it comes to privacy.
These are not just theoretical fears anymore. Things have become very real lately. And this is not a breach, or a glitch that can be fixed. This is a business model. Facebook injures people’s privacy by its very nature. The social media company collects people’s private data at a scale that the world had never seen before. It exploits that data by sharing it with third-parties. At such a rate that it makes Facebook the 6th most valuable company in the world. Google, by the way, is #2, with essentially the same business model.
Introducing regulations to monitor this breach isn’t going to help one bit, and realistically, brands have come to rely on Facebook and Google to get new customers. Facebook and Google alone control over 60% of the whole digital ad industry. The reasonable solution is not to destroy a broken system. But rather, to come up with a better one. Blockchain technologies and recent advances in decentralized Artificial Intelligence are the building blocks of such a system. Time has come for a blockchain-based, decentralized platform that connects people and brands directly, cutting out marketing middlemen, in a way that protects users’ privacy and that increases performance for brands.
How can the above be achieved?
- People generate their own data, in a way that protects their privacy
- People are matched with highly relevant brands
- People get preferred pricing