You are viewing a single comment's thread from:
RE: The Fundamental Currency of Steemit Is Not Steem
Really enjoyed your perspective here, I think there's a lot of sense to what you're saying.
However I would say that I think that attention is only part of the equation, and important part, but just part. The data itself is very valuable and on Steem thankfully (for the moment) it is not directly bought and sold. This is not the case on Facebook, as they do indeed sell attention of users in placed ads, but also the data of users to external sources. So
The trick with Facebook is that it packages the attention and re-sells it to advertisers.
is a bit incomplete, but you're not wrong at all. I guess I just wanted to highlight this as it's once of my main concerns these days, the collection and loss of control of one's personal data.
Thanks! 😄
Yeap, I completely forgot about that, but you're right, personal data may also be sold in various forms in traditional social media platforms. But keep in mind that, on a blockchain based platform, your data is not sold, but it's completely public (unless the frontend of the platform doesn't perform some encryption, which, AFAIK, doesn't happen in Steemit).
Won't be posting my question after FYI, tucked away on the second last page of the Steem White Paper is the answer, though the interaction with Steemit, Inc. complexifys it a bit!
It is a bit different on Steemit, I'm currently researching it actually, it's not completely clear to me (like most things here!) but it looks like the content blockchain may actually be owned by Steemit, Inc. Not to mention the provisions in the Privacy Policy allowing basically the same kind of allowance to monitize posted content via ad networks.
I could be way off the on blockchain ownership and I'm actually just about to post a public question about it to help me research for my next article. But in practical terms, there's nothing to stop anyone reselling the blockchain data in repackaged form. It's a kind of new area I guess!