Hey Jessinternet users
The internet has brought the world closer together, launched new business models, reduced inefficiency, open up new lines of instant communication and reduce the barrier to information. At least that’s what we wanted, and we did get to an extent.
However, as the internet becomes more profitable to use, big tech has made it their mission to dominate this space.
The social media squeeze
Social media is centralized between a few US-based companies like Facebook, Twitter and Reddit, with only Chinese based TikTok providing any competition in recent years.
Social media has shown very little remorse for offering us a so-called free service while data mining ⛏ and selling that data to advertisers. The business model has been hugely profitable for these companies, which is why they can offer their services for free.
The thing with data is you always going to look for new data touchpoints to add to your feed and supply your machine learning models with more information.
Instant messaging the next target
One area where people feel data mining is a bit of an issue is in instant messaging. It’s a poorly kept secret that social media sites are looking to get into your chats, look at keyword usage and intent so they can improve their ad serving.
Is this where we draw the line? I think as a responsible internet user, you should be looking at cleaning up your online footprint, reduce your data creation, decentralise your data and be aware of the data you produce.
There are several options available for alternative chat applications, but none of them has yet to pull in the numbers we need to see for disruption to take place in this market.
Being your own lawyer
I’ve spoken previously on how being your own bank is a tough transition that not everyone's is ready for or would care about in acting, but I think it’s important to have the option.
Just as crypto returns some of your rights and bargaining power away from central authorities.
Blockchain, tokenisation and web 3 dapps are going to help you take back your data. To protect it, to give you a legal foothold, to leverage your data the way you see fit.
I think digital identity tokens will become the norm. Where users would store their personally identifiable info in an NFT but never have to reveal the data
The token alone verifies the authenticity with the backing of oracles, and users will have control over who can access their identity NFT to tap into the data you create.
Dapps would need to request certain data, and the more data they want, the more they need to pay.
Users will be able to choose who much or how little of their data they would like to monetize, while others who feel their privacy is worth more than a few pennies can lock out any company or protocol.
Protecting your privacy
If we don’t begin to value our data and draw a line in the sand, then these data mining companies will continue to exploit data with no restrictions. Until we remove some of the economic incentives at play, then we can’t begin to ring in these companies.
Have your say
What do you good people of HIVE think?
So have at it, my Jessies! If you don't have something to comment, "I am a Jessie."
Let's connect
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