Jane posts her selfie on a popular social media site. Immediately, she starts getting 'likes' and 'comments' on her selfie.
The more the likes her photo gets, Jane starts experiencing social pleasure (a similar experience that you get when you eat a chocolate or an ice cream). This is the phenomenon most social media users experience when they share their photos or status updates over the popular social media sites.
What Jane, probably, does not know is…
The social media platforms collect at least 20-25 data parameters, at a minimum, that range from the user preferences, location, shopping preferences, political views, et al.
As much as the social media site usage is free for the user, the data collected is mostly perceived as free data access by the social media sites, which can be used by the advertisers for hyper targeting / advertising.
And the best part is, the social media sites are not obligated to share any AD revenues with the users (albeit earning these big bucks from utilizing the free data).
Ideally, Jane should own her data, decide on who sees her data and when they can see the data…
Indeed, social media sites provide privacy settings for users like Jane to control who sees their content. However, most percentage of social media users choose default settings that do not restrict their data access.
Giving the data access control power back to Jane, courtesy Blockchain
With the advent of Blockchain technology, Jane would have all the power to create a data fence that allows her to keep her data to herself. She can create a small gate in the fence that allows her close friends or to a set of people to see her data.
This is possible since Blockchain allows transparency, immutability, digital rights protection and a clear audit of the data to Jane.
She can then control who can see her data with permission. For instance, if Jane wants to follow the latest fashion trends, she may allow a fashion hyper advertiser to look at her data and show the relevant advertisements that are of interest to Jane and possibly her friends.
Giving back ‘social data’ back to Jane, because she owns it. Period.
Photo Credits : Javi_indy / Freepik