DailyMastermind 46 | HUGE BUSINESSES IN SELLING USERS' PERSONAL DATA: CAN BLOCKCHAIN SOLVE THIS?
Yesterday had a wonderful meeting with an old friend and his business partners from overseas. Learnt about their new partnership which basically extracts personal data from Facebook and Instagram to be sold off to big corporations as 'products'. Got really excited about the prospect of this business because that's how valuable databases are these days, yet at the same time got me thinking about the ethics behind such practices. If blockchain can prevent the extraction of personal data, that would be a huge bonus for consumers. Is it possible?
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Aaron "M" Cheong is a student entrepreneur and the Co-founder of Commodum, a digital platform centralizing resources for student entrepreneurs. M is also currently a 3rd year medical student in International Medical University, Malaysia.
M is the host of the DailyMastermind, a docu-series highlighting what it’s like to be an entrepreneur, and a university student at the same time in today’s digital age.
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Wow what a dynamic post,we have so many questions about the blockchain.
The ex changers are the only connecting point as of now.
Yes good choice too see truth,selling someones personal info is never good.
Thats why you are here yes? A better way.
I enjoy your post please keep up the good work !
Toddjr.
Thank you for the words of encouragement @toddjr! Yes I do have many questions in mind about the blockchain and how can it replace the conventional business practices to be more ethical and profitable :)
Think, more profitable too whom? Is the real question.
The flow of value and what type of value? dollar, coin, token,smart trade?
Your on the right side thinking about the left (brain) not easy.
But your on the right track.Keep thinking and filming and i'll keep listening.Because of all the thousands of video's I've watched, your onto something.
Really appreciate your encouragement @toddjr. This means a lot to me, thank you! Keep steeming :)
happens all the time, when someone have huge data basis God knows what they do with it........
@dc004 Yes indeed. Which is why I rarely sync my accounts online or do I provide much details to any website...
We get so many applications for free. Someone has to gain something out of the service. That is where data mining comes in. Businesses have loads of information to succeed today. A group of my friends are doing analytics for businesses analysing sentiments on social media. When you see the kind of information they come up with it is really enlightening and good for decision making.
However, is it worth using these applications for free when we are paying using with personal details? This issue has particularly caught my attention because businesses are now able to extract these databases out from Facebook, so it seems to me to be beyond the usual boundaries set by advertising platforms like Facebook
Not at all. It is worrying that even though we know all this we keep sharing.
true, that is what big companies like Deloitte and other research companies does, analyze information given by search engine companies. Nothing comes for free
When it comes to the ethical topic, it is really a grey topic. I don't trust internet in general, and if you realise, whatever you click in google somehow will appear as an ad in Facebook, and whatever your friends like in Instagram will have a related ad too. I believe it is possible and companies have been doing a long time, reminds me of when Mark Zuckerburg was in a hot soup when he was questioned about privacy of facebook 10 years ago.
So is facebook totally free of charge? No. In business school they teach, nothing comes for free
Blockchain is more transparency, meaning that everything up in the blockchain can not be taken down anymore, like whatever you post on steemit, can never be deleted. However, in terms of privacy, I'm afraid it is not because every single movement on the blockchain can be traced, Capital flow is definitely not private, or else there would be an abuse.
Blockchain itself is a technology that supports decentralization and transparency. So u still wanna be sure you don't share everything in the internet. Regarding how private it is, depend on the services u signed up for...
Yup @asianetwork. The price to pay in return for the services we use.. What to do? Some of these services are really important and really helps to improve quality of life hahaha!
LOL, for a medical student to think about entreprenuership is equivalent to me holding a scalpel. If it keeps you learning, ya why not?
Cheers mate
I'm sorry, but I cannot watch your video. Dtube is so slow, that it took 10 minutes for 10 seconds of video to load. At that rate, it would take over 10 hours for the full video to load and be watchable.
In your writing beneath the video in this post however, you ask:
I do not know how the blockchain can possibly prevent the extraction of personal data. If nothing else, blockchain technology is making our personal data more public than ever before. That will certainly keep it from being "sold," per se, if everyone can access it, but it will still be out there for all to see.
This very comment I am making will be on the blockchain a thousand years from now. Anyone can see all the comments I made today, and all the upvotes you made today. If I transfer SBD to you, the entire world can see that transaction if they know where to look. Everything is going public in a way that information has never been made public before.
Perhaps you covered all this in your video, I don't know. Sorry I could not watch, but perhaps Dtube will one day improve their technology so that content will load and stream faster, like Vimeo, Vevo, YouTube, and all the other streaming sites do.
#steemitbloggers
Hey @thekittygirl, thank you for sharing your perspective of the blockchain technology! You're right, I do understand that aspect of the blockchain. However I read articles that mentioned multiple times that the blockchain technology like Bitcoin as a cryptocurrency can help to maintain privacy.. Hence I was wondering if this is really possible and if so, how?
*P.S: I'm really sorry for what you had to go through while waiting for the video to buffer. I'm actually giving away 5 SBD for FREE, and you stand a chance to win it by sharing your experience of slow buffering in the comments section here. This giveaway is created to gather as much feedback as possible about @dtube so that the developing team have a better idea to build their platform.
Thank you for that suggestion! If the developers will see the comment, it is worth it, despite the 5 SBD prize!