These days more and more people stop and ask themselves, how come several media companies possess personal data of the whole population and have almost unlimited power? Why does all this data belongs to them and are there any ways to bypass these ever-expanding corporations? As many came to believe, the possible solution can be blockchain technology.
According to Emily Parker, such companies as Facebook, Uber, Netflix, and Airbnb were revolutionary and ultimately established a new way the things are done in the modern world. It’s time, however, for the next step. The media giants of today are plagued with various accusations: connections with Russia, Brexit vote manipulation, Cambridge Analytica scandal and many more – all this only heats up the interest in blockchain technology.
The blockchain solution can certainly be a viable one, as it’s decentralized and bypasses the need to send the data to an unknown and untrusted middleman, like Facebook. Parker cited some extracts from the new book by Michael Casey and Paul Vigna. The authors of the work describe how companies like Uber, Airbnb, and Facebook turned into entrenched monopoly power. They have no doubt that blockchain technologies “aim to do away with these intermediaries altogether, letting people forge their own trust to build social networks and business arrangements on their own terms.”