Cryptocurrency Can Help Social Media Sites Like Facebook

[Elysian_ELY]

https://www.forbes.com/sites/rachelwolfson/2018/04/18/cryptocurrency-and-blockchain-technology-could-help-facebook-recover-from-massive-data-scandal/

Most of us have heard of the recent Cambridge Analytica scandal with Facebook. What most people do not realize is that there is a solution that is right under their noses and its been in development for years now. Cryptocurrencies stand for decentralization and security. This is exactly what sites like Facebook need. Users are worried about there personal information being sold off; if Facebook adopted blockchain level data security all problems would be solved. It will be interesting to see how things unfold. What is everyone's' thoughts?

Good Luck Traders,
The Elysian Team

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[pekavcilar01]

Crypto stock exchange is everywhere.
In the future we will see crypto money everywhere. Currently, there are only stock market sites. In the near future we will be able to do everything with digital money.
Facebook is already the most popular social media platform in the world.
In the near future, the user has aroused great repercussions for sharing the information.

[avikz]

Security is a serious concern for Facebook now as many people are worried about their personal data being used to influence market decisions and being sold off to third parties. Blockchain as a technology with decentralized nature, can certainly bring fresh changes to this segment. I believe I have seen couple of companies trying to bring such platforms in the market like Entle and all.me. But the challenge is to compete with a giant like Facebook. I don't think Facebook will use the blockchain technology in their platform because that will be a radical change and I am sure Facebook can't afford that experiment. However, new platforms using blockchain technology may gain momentum and people concerned about their data security will start using them. 

[BIRC]

I think there are some teams are already researching this. You can google "TTC" protocol/coin for similar info.

[AurumService]

What is known is that Facebook does everything to block any ad concerning blockchain and cryptocurrency. It means that this social media isn`t ready for any cryptoactivities. Reasons? A lot of scammers, lack of legislature of cryptos...However, as time goes by the situation may change dramatically.

[emanjun]

What is known is that Facebook does everything to block any ad concerning blockchain and cryptocurrency. It means that this social media isn`t ready for any cryptoactivities. Reasons? A lot of scammers, lack of legislature of cryptos...However, as time goes by the situation may change dramatically.

You have a point but I think if facebook will accept bitcoin then there is a big possibility that bitcoin will become more popular than it seem. There a lot of reasons why bitcoin was blocked on social medias, one of the major reason why it is being blocked it is because there are people who made such ads to scam people.

[davison2]

The blockchain technology definitely holds the solution to the security challenges that is faced by Facebook and other social media sites. It is no news how the blockchain technology has helped fight hacking and other security problems.

[ManaMan]

It's not just to say let's do a blockchain to everything as this at sometimes doesn't even matter what type of "database" are you using for your data. Even without blockchain on centralized service you can guarantee pretty good privacy if you let users encrypt their data with their keys without revealing anything to you.

Let's look at steemit as it is widely used social media currently that uses blockchain tech it is not like facebook alike, more like blogging, video and that type of thing but it surely shows us the problem with transparency. Because there you can see every bodies information and see where are they moving money so for advertisers it makes it even easier to see what you are doing with your money and what they can do to make you shift that or something. So if you are going to do a blockchain based social network/media best is to build it in such a way that it keeps as much as information private.

Security is a serious concern for Facebook now as many people are worried about their personal data being used to influence market decisions and being sold off to third parties.

Lets be honest, many of us knew way back before recent events that it was highly possible that facebook did something like this with our data. And since everything is held on their servers they can see whats where....

[FrueGreads]

https://www.forbes.com/sites/rachelwolfson/2018/04/18/cryptocurrency-and-blockchain-technology-could-help-facebook-recover-from-massive-data-scandal/

Most of us have heard of the recent Cambridge Analytica scandal with Facebook. What most people do not realize is that there is a solution that is right under their noses and its been in development for years now. Cryptocurrencies stand for decentralization and security. This is exactly what sites like Facebook need. Users are worried about there personal information being sold off; if Facebook adopted blockchain level data security all problems would be solved. It will be interesting to see how things unfold. What is everyone's' thoughts?

Good Luck Traders,
The Elysian Team

I agree with you, but then I guess that your title is wrong. Blockchain technology could help social media platforms like Facebook, but not cryptocurrencies itself. If they stored data in a decentralized way, I guess that nothing of this would happen. I do see a small problem with this. We all know that people say that what you say on the internet is stored forever, but this would probably be even more true, if social platforms text was stored in the blockchain. I mean, how would people delete their accounts this way, if they ever wanted to. They should have that right.

[Odlanyer]

I think yes, because by promoting crytocurrency using social media many people have an interest to used bitcoin and the price and the investor get high because of lot of user.

[bitart]

What is known is that Facebook does everything to block any ad concerning blockchain and cryptocurrency. It means that this social media isn`t ready for any cryptoactivities. Reasons? A lot of scammers, lack of legislature of cryptos...However, as time goes by the situation may change dramatically.

You have a point but I think if facebook will accept bitcoin then there is a big possibility that bitcoin will become more popular than it seem. There a lot of reasons why bitcoin was blocked on social medias, one of the major reason why it is being blocked it is because there are people who made such ads to scam people.

It seems that both of you are missing the point... Facebook has banned cryptos because it wants to develop (or introduce if it's already developed) it's own crypto, to manage somehow the peer to peer small value transactions (fiat money, or it's own crypto, we'll see) inside it's system... So at first, they need to get rid of the competitors and after they will have more chance to introduce their crypto.

[Heartbreakeren]

It's all about info sharing and for social media sites to milk money from such communication. I won't be surprised if the next round of social media platforms will be shaped by blockchain tech rather than the other way around.

[imyashir]

https://www.forbes.com/sites/rachelwolfson/2018/04/18/cryptocurrency-and-blockchain-technology-could-help-facebook-recover-from-massive-data-scandal/

Most of us have heard of the recent Cambridge Analytica scandal with Facebook. What most people do not realize is that there is a solution that is right under their noses and its been in development for years now. Cryptocurrencies stand for decentralization and security. This is exactly what sites like Facebook need. Users are worried about there personal information being sold off; if Facebook adopted blockchain level data security all problems would be solved. It will be interesting to see how things unfold. What is everyone's' thoughts?

Good Luck Traders,
The Elysian Team

The future of facebook in crypto currency will be great. Facebook security is going to be fine because there are solutions in facebook so far we know facebook is now involved in illegal activities, scams, fraudster etc. Now Facebook in Blockchain when it comes together will be security of the identity information of facebook users ,, Just take a look at the next step of facebook.

[paul gatt]

Facebook is a social network that communicates quickly to everyone in the world. But not all information is accurate. It is important to have quality control when reading information on the face. Face can help transmit bitcoin quickly.