Is Cryptocurrency and Blockchain helpful for facebook?

Emotions continue to run high as more information is revealed around Facebook's gigantic data scandal. Last week, Cambridge Analytica's former Business Development Director, Brittany Kaiser, advised British lawmakers the governmental statistics company, Cambridge Analytica (CA), utilized a Lot of surveys to collect data from unknowing Facebook users.

Throughout the "Thisisyourdigitallife" program, CA manhood, Aleksandr Kogan, compensated Facebook consumers in exchange for a in depth character evaluation, which has been supposed to be utilized for "academic research" functions. While it was noted that roughly 270,000 users agreed to having their information gathered, it was leaked the app also attracted private information in your Facebook friends of these consumers. That data -- in the shape of around 87 million uncooked profiles -- was subsequently sold by the researcher into Cambridge Analytica, that utilized the information to control Facebook users throughout the Trump effort.
Yet on account of the exploitative nature of the manner by which information is used now, it should not come as much of a surprise this is the situation
It seems sensible that consumers must have complete control of their private information. Nonetheless, this is easier said than done considering the centered nature of the majority of social networking platforms.

Instead of using the protocol's worth come from extracting private information, the worth of Hub's Individual Trust Protocol rather lies in the decentralization of information controlled by consumers.

This is the area where cryptocurrency enters the image. To be able to incentivize trust between users as well as the involvement of sharing standing information in the Hub protocol, a native token known as "Hub" Token can be used. Hub functions in the following manner: through transactions and interactions participants guarantee bets. When a job is powerful, participants make a positive reputation and receive their bet back along with Hub Token rewards

Interestingly, before Facebook's information scandal made headlines, CEO Mark Zuckerberg declared in a Facbeook article his new years resolution for 2018 is to explore the usage of blockchain engineering and cryptocurrency.

"Back at the 1990s and 2000s, many folks believed technology could be a decentralizing force," Zuckerberg wrote. "But now, a lot of individuals have lost faith in this claim. With the growth of a few major tech firms -- and authorities utilizing technologies to observe their citizens -- lots of individuals today believe technologies only centralizes power instead of decentralizes it"

Zuckerberg then said that safety and cryptocurrency might help solve those issues by putting power back in the consumer's hands. Nevertheless, this would also render Facebook in a reduction of management - a shift which may be successful for customers but not really rewarding for Facebook.

Nevertheless since the ~DeleteFacebook hashtag continues to gain traction -- it seemed over 10,000 times over a brief period on Twitter after the information of this Facebook information scandal -- Facebook may want to begin looking more closely in blockchain technologies and cryptocurrency sooner instead of later.