TikTok and Blockchain helping Privacy
Reports suggest the U.S. has been pushing for an outright ban of the Chinese TikTok platform, following allegations that ByteDance, the platform’s owner, has turned over sensitive user data to the Chinese government with potential negative implications for U.S. security.
MeWe chairman and CEO Mark Weinstein is a privacy advocate and MeWe is therefore a social networking platform with no ads, no personal data collection, and no newsfeed manipulation.
Weinstein believes the situation with TikTok could be entirely avoided by implementing blockchain technologies.
Here is how we think Blockchain has the potential to enhance user privacy on platforms like TikTok:
- Blockchain-based decentralised identity verification systems can provide users with more control over their personal information. Without Blockchain technology apps like TikTok rely on centralised servers which store and verify user data.
- Blockchain technology offers secure and tamper-resistant data storage capabilities, reducing the risk of unauthorised access or data breaches.
- Blockchain-based smart contracts offer user-controlled data sharing agreements between individuals and platforms. This means that the user has the autonomy to specify terms and conditions for sharing their data with platforms like TikTok, preventing unauthorised data collection and usage.
- Social media platforms like TikTok can use Blockchain to record and track data access and usage, naturally using Blockchain technology encourages more transparency and provides users with visibility of how their information is handled. This can help platforms such as TikTok to foster a trust-centric relationship between users.
- Blockchain-based platforms can empower users to monetise their personal data directly. Whereas platforms such as TikTok currently have full control on how to monetise data through targeted advertising. If users were to be given control, they can leverage blockchain-based marketplaces to sell their data. This not only gives users more control and enables them to maintain privacy should they choose but it also gives them the opportunity to benefit financially from sharing their information.
MeWe has reportedly more than 20 million users and while that doesn’t quite reach TikTok’s bracket. As MeWe makes the move over from traditional Web2 to blockchain, we think it might be time for other platforms including TikTok to start taking note.
Weinstein has previously shared his six best practices for other companies considering the change to Blockchain:
- Understand Blockchain technology
- Start small
- Choose the platform thats right for your organisation
- Stay up to date with regulatory compliance changes
- Collaborate with stakeholders
- Ensure employees are educated and trained on blockchain
We think this is great advice for many aspects of business as well as specifically for blockchain! #BoldEntrepreneursAdapt
At Adapt Talent, we specialise in Web3 and Blockchain recruitment. If you are looking to make the move to Blockchain technology, contact Sam to help connect you to the right people.
