I read an interesting article today that confirmed my suspicions that Facebook is collecting large databases of information on its users, and it likely selling that information. If you would like to read the article, you can do so here:
http://www.theverge.com/2014/6/28/5852652/facebook-altered-689000-users-news-feeds-for-a-psychology-experimentThis is only one use case for decentralized technologies, but I feel like it is a good one to start with. I would venture to say the amount of time the average person spends on social networking sites pales in comparison to the amount of time the average person spends on the rest of the internet. Furthermore, I would guess that most of these people do not use Bitcoin or crypto currencies, this could be a "killer app" to bootstrap widespread adoption. If you've ever used anything like MySpace, Facebook, or Twitter, I think you can understand what I am saying in that they are oddly addictive, similar to how someone obsessed with crypto currency would view these forums. The difference is that there are millions (billions?) more people that use social networking compared to those that use crypto currencies. So, how can decentralized block chain technologies improve upon current social networks?
If you think Facebook is not analyzing our data, then this article is proof that it does happen. I'm certain this is just a small part of it, if they were to release all information about what data they are collecting and selling, I think most people would be shocked. They sell that information to people that would find it interesting, people to whom that information will give them an edge in marketing and product design.
Making a decentralized social network for the specific purpose of increasing privacy may seem like an unnecessary thing to do if you don't have anything to hide. Although I disagree very much with that sentiment, for reasons that would make this post much longer than it already will be, it is not only our privacy that is at stake. They are also making a lot of money off of everyone that posts and likes things on their social network. You are making Facebook money every time you like or post about something. The only thing that gives Facebook value is its users, the information it can collect from them, and advertising revenue. In other words, we are the ones that gives Facebook its value, and we have made them a LOT of money. Let me ask... how much of that money that Facebook has made off of you have you seen?
So... Facebook, etcetra, are making a ton of money off of all of us, and along with it our privacy takes a huge hit. How can we solve both of these problems? By making a decentralized social network. All data can be encrypted, so the only way someone can see a post, message, or what you like, are only the people that you want to see that information. It would be cryptographically provable that your information is safe.
I realize the average person doesn't care about privacy, but most people do care about money. Imagine being paid for posting and liking things on Facebook, even clicking on the adds. A decentralized social network makes this possible. We are afterall the ones making money for Facebook, shouldn't at the very least some of this be going into our own pockets? It would be possible to decrypt your information and submit it anonymously to the decentralized social network's database, which could then sell that information and distribute it to users of the decentralized social network. You could of course opt out of sharing your information, but this extra revenue stream would be possible. Furthermore, all advertising revenues could be split evenly among users.
In summary, privacy is not the only reason to want decentralized technologies to become mainstream. Decentralized technologies can put money large corporations are making off of us back into our pockets as well. This is only one use case, there are many more, one of the most obvious that comes to mind is Youtube. It will be interesting to see all of the projects come to fruition, and I think decentralized applications are the next new frontier in the crypto currency space. The decentralized movement is in full swing, Bitcoin has inspired so many great ideas of how to use decentralized block chain technology. Mark my words, there will be some decentralized applications that are adopted mainstream and it will bring many new users to crypto currencies.
Point I'm trying to convey: I realize I'm being captain obvious here, and bringing up an idea that many people have had before- a decentralized social network. However, my point here is in pointing out the importance of using decentralized block chain technology other than for money. I see a lot of hate and disdain on the forums for people wanting to create something that's not Bitcoin, when instead we should be embracing these projects for many reasons, if not for the sole reason of giving more people a good reason to adopt crypto currencies. One of the biggest things holding crypto currencies back at this point is that there's not a whole lot you can do with them. Creating other uses for crypto currencies through making decentralized applications will help solve that problem, and give "normal" people a reason to adopt them that otherwise wouldn't. I believe too much emphasis is being spent on trying to get merchants to accept crypto currencies as the only way forward (as far as mass adoption.) People already have a way of paying for things that is quite convenient and are mostly not bothered from paying the fees or eating the inflation (Fiat/Credit Cards/Debit Cards/Etc.) By focusing on creating other innovative uses of crypto currencies by creating decentralized applications, we can FORCE merchants to accept crypto currencies instead of just asking them to. What I mean by that is by creating new uses we will bring more users, and at that point (hopefully) there will be so many people using crypto currencies that a business would be crazy not to accept them.
