Fun

MeWe social network boss says blockchain can solve the TikTok problem

News Feed - 2024-04-18 04:04:40

Tristan Greene4 hours agoMeWe social network boss says blockchain can solve the TikTok problemCEO Jeffrey Edell laid out a six-point plan for social media companies planning the transition to blockchain.392 Total views3 Total sharesListen to article 0:00NewsOwn this piece of crypto historyCollect this article as NFTJoin us on social networksMeWe chairman and CEO Jeffrey Edell recently penned an op-ed detailing how he believes the situation between the United States government and China’s TikTok could be avoided by implementing blockchain technologies.


Edell is in the unique position of helming a social media company with reportedly more than 20 million users that’s made the leap from traditional Web2 to the blockchain.The TikTok situation


A slew of recent reports indicate that the U.S. is currently weighing an outright ban on China’s TikTok social media platform. There are 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.


In an op-ed penned for Rolling Stone, Edell wrote that the TikTok situation is, at its crux, a matter of user privacy that could have been averted through decentralization:“While the concerns surrounding TikTok are valid, I believe the focus should not solely be on one app or one country. Instead, companies should work toward creating and setting strict guidelines for handling personal data, digital identity and users’ privacy, regardless of their origin.”


Edell added that “one way to ensure that personal data is secure and protected is through the use of Web 3-based, blockchain technology.”Transitioning to blockchain


As Cointelegraph reported, MeWe made the transition from Web2 to the Frequency blockchain network, a Polkadot parachain, in April 2023.


Essentially, the argument for blockchain-based user privacy hinges on who, exactly, has access to user data. On traditional social media platforms, such as X, user data is held and accessed through a centralized control method wherein the company itself retains ownership of all data.


In TikTok’s case, this ostensibly means that ByteDance — and, by legal extension, the government of China — owns all of the platform’s user data, including more than 150 million U.S.-based users.


By placing data on the blockchain and implementing specific privacy controls, a social media network can give users control over their data without compromising platform functionality.


Related:Worldcoin launches its own ‘human-centric’ blockchain network


While MeWe’s user base doesn’t quite stack up to TikTok’s, the company’s transition to blockchain shows that it’s possible.


To that end, Edell shared six best practices for other companies considering the change in his Rolling Stone article: understanding the technology, starting small, choosing the platform that’s right for your organization, staying up to date with regulatory compliance changes, collaborating with stakeholders, and ensuring employees are educated and trained on blockchain.# Blockchain# China# Business# Decentralization# Privacy# United States# Social MediaAdd reaction

News Feed

Mark Zuckerberg’s Goat, “Bitcoin”, Ignites Conspiracy Theories
Mark Zuckerberg"s Goat, "Bitcoin", Ignites Conspiracy Theories Yesterday, Mark Zuckerberg, founder and CEO of Facebook, revealed he’d named one of his goat
Brazilian Crypto Companies to Self-Regulate: Target a $100 Billion Market by Year-End
Brazilian Crypto Companies to Self-Regulate: Target a $100 Billion Market by Year-EndBrazilian crypto companies have signed a code of self-regulation that aims to legitimize and to
Russian Parliament Foresees a Wave of Token Issuance for 2021 in the Wake of Crypto Law Promulgation
Russian Parliament Foresees a Wave of Token Issuance for 2021 in the Wake of Crypto Law Promulgation The head of the Russian parliamentary committee on financial
Coinbase to move customer and corporate USDC balances to Base
Brayden Lindrea8 hours agoCoinbase to move customer and corporate USDC balances to BaseCoinbase’s move on-chain will carve a path toward a future on-chain financial system, claimed Bankless podcast co-host David Hoffma
Uruguay Introduces Cryptocurrency Law in Parliament
Uruguay Introduces Cryptocurrency Law in Parliament A new cryptocurrency bill project was introduced by the executive power to the Parliament of Uruguay. The bill seeks to clarify
Paypal Joins Other Payment and Remittance Providers Suspending Services in Russia
Paypal Joins Other Payment and Remittance Providers Suspending Services in Russia A number of payment and remittance platforms, now including Paypal, have restricted access to thei
Are Bitcoin Bears Losing Out? $31 Million Wiped Out In BTC Shorts Liquidation
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Lookonchain oopsie? The $2B of ETH was sold back in 2021 — EmberCN
Tom Mitchelhill7 hours agoLookonchain oopsie? The $2B of ETH was sold back in 2021 — EmberCNLookonchain shared that Plus Token had begun moving nearly $2 billion in ETH but it turns out most of it had already been sold
Ether’s ‘most obvious bullish setup’ is set for H2 2024, says former Wall Street trader
Zoltan Vardai11 hours agoEther’s ‘most obvious bullish setup’ is set for H2 2024, says former Wall Street traderOther analysts also expect a new Ether all-time high after the spot ETFs launch, but the price is stru
FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers
FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu,
Study: Nigeria Most Crypto-Obsessed English Speaking Country Globally
Study: Nigeria Most Crypto-Obsessed English Speaking Country Globally A new study has ranked Nigeria as the country most curious about cryptocurrency post the April crypto market c
Microstrategy Debunks Margin Call Rumor — Says Bitcoin Liquidation Unnecessary Even if BTC Falls Below $3,562
Microstrategy Debunks Margin Call Rumor — Says Bitcoin Liquidation Unnecessary Even if BTC Falls Below $3,562 The CEO of the Nasdaq-listed software company Microstrategy has debu