Facebook vs Blockchain

Privacy-Facebook-Blockchain is our privacy at risk

According to a Wall Street Journal article by Josh Keller, K.K. Rebecca Lai and Nicole Perlroth updated in October of 2017. All three billion Yahoo users in 2013 were affected by a cyber attack, an increase from the one billion originally estimated.

Here are ten of the largest hacks in 2017:

  •      Equifax -145.5 Accounts
  •      Uber Data Breach- 57 Million Records
  •      Wanncry Cyber Attack – 300,000 Systems
  •      Yahoo – (Updated) – 3 Billion Accounts
  •      Deep Root Analytics Data Breach – 198 Million US Voters
  •      Rasputin Attack – 60 Universities
  •      Taring – 28 Million Accounts
  •      Verizon – 14 Million Accounts
  •      Intercontinental Hotel Group -1,200 locations

On Tuesday April 10th and Wednesday April 11th CEO of Facebook Mark Zuckerberg testified on Capital Hill regarding alleged data misuse. According to THE GUARDIAN,  a British tabloid newspaper. The hearing was a Sham! THE GUARDIAN stated “the show was no more than an event to get Zuckerberg of he hook”.

When addressing the issue of regulation Zuckerberg stated that he would support regulation based on what the regulation was.

Privacy-Facebook-Blockchain is our privacy at risk
Mark Elliot Zuckerberg is an American computer programmer and Internet entrepreneur. He is a co-founder of Facebook and is currently its chairman and chief executive officer. His net worth is estimated to be US$62.2 billion as of March 25, 2018.

When addressed regarding discriminatory housing ads, the question whether or not Facebook was a monopoly and various other questionable business practices he posed himself as good hearted CFO with limited means rather than the Titan of a technology giant making monopoly billions of profits.

Regulations

I find it interesting that when challenged on the topic of regulations Zuckerberg basically gave the answeres that were wanted by the Senators. At one point he offered to submit a list of possible regulations to Senator Lindsey Graham. This feels like the FOX OFFERING TO GUARD THE HEN HOUSE.

Here is my problem with an unregulated Facebook. You have the largest enterprise in the world that is entrenched in over 180 countries.  An enterprise that arguably has the ability to taint and quite possibly control the ideology of billions of people around the world. This power could but at risk our Democratic way of life. They have the ability, again , if unregulated to promote the values of the progressive left while neglecting more conservative views.

The CEO stated several times that they do not sell users personal information to anyone. He did state that they will have Advertisers  approach them saying “. We want to reach 25-35 year olds that ski.” Facebook will then place ads in front of that group. Regardless of how it is done your and my personal information is being used to line the coffers of Facebook.

Blockchain

So just what is Blockchain and what does it have to do with topic:

Privacy-Facebook-Blockchain is our privacy at risk
a digital ledger in which transactions made in bitcoin or another cryptocurrency are recorded chronologically and publicly. “we can actually have a look at the blockchain and see evidence of what’s going on”

A blockchain is a digitized, decentralized, public ledger of all cryptocurrency transactions. Originally developed as the accounting method for the virtual currency Bitcoin, blockchains – which use what’s known as distributed ledger technology (DLT) – which is appearing in a variety of commercial applications today.

What does this mean? Imagine digital information to be distributed but not copied, blockchain technology has created a new type of internet. Imagine if our personal information could be stored in a decentralized non hackable ledger. Where every transaction was anonymous and preserved forever. Imagine if companies no longer had access to our personal information to sell to advertisers or even worse, leave it susceptible to be stolen and sold on the Black Web.

This is some of the potential of this revolutionary technology. Unfortunately it is not ready to take on the giant Facebook and make all communications anonymous and private. Even with Messaging those messages are available and utilized by Facebook in developing profiles of users. https://www.coindesk.com/blockchains-alone-wont-fix-facebook-problem/

The risk of corporate and personal theft is an ever increasing battle that is like a leaking bucket. The more technology developed to protect the more technology developed to hack. Blockchain is in its infancy as further uses for it are developed it may just be the answer to protecting our privacy.

Please leave share your thought in comments.

Bob

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